Key Takeaways

  • Data and AI upskilling are becoming key drivers of AI return on investment, according to a report released Thursday by DataCamp and commissioned by YouGov, which surveyed over 500 business leaders in the U.S. and U.K.
  • The report found that just over one-fifth (22%) of leaders reported significant positive returns on AI investments, but that figure rose to 42% among organizations with mature data and AI literacy programs.
  • More than half of leaders ranked AI literacy as the most important AI skill in the workplace over the past year, placing its value on par with core competencies such as writing, project management, or presentation skills. Leaders also ranked data-driven decision-making, data analysis, and dashboard interpretation as the most important data skills.

Deep Dive

As leaders are asked to demonstrate the actual performance of their investments, AI initiatives launched in previous years are coming under greater scrutiny.

According to Gartner, enterprise spending on AI applications this year—from computing power to value-added services—could reach $2.5 trillion. A survey released last month by Hitachi Vantara shows the spending boom will continue, with AI budgets expected to balloon by 76% over the next two years.

DataCamp CEO and co-founder Jonathan Cornelissen noted that acquiring relevant skills is crucial for companies seeking to improve their AI ROI. A lack of training threatens the effectiveness of existing tools.

"Most organizations don't have formal training programs," Cornelissen said. "They may subscribe to a learning platform with data and AI skills content, but they lack dedicated investment to drive data and AI upskilling."

Cornelissen believes the disconnect between tools and expected outcomes can render investments futile, as employees lack the training to apply AI to real-world scenarios.

AI adoption is also changing how employers view their workforce. Among leaders surveyed in the DataCamp report, more than three-quarters said data-literate employees outperform their peers. Employees with AI literacy are expected to see productivity gains of up to 20%.

Although AI was once the exclusive domain of IT departments, demand for such skills has spread across all functions. According to a report released last month by Draup, AI skill requirements for customer support roles have risen by nearly 25%, with similar growth seen in sales and finance operations roles.

Cornelissen believes CIOs can support their organizations by ensuring leadership has sufficient AI knowledge and by partnering with learning and development teams to guide training efforts.

"If you don't invest in people, you won't get returns from technology investments," Cornelissen said. "CIOs play one of the most important roles across the entire organization."