A handful of companies are pulling ahead in the race to generate real financial returns from their AI investments, while the majority of businesses are still stuck in pilot mode, according to PwC’s latest AI Performance report.

Surveying more than 1,200 senior executives from global enterprise firms, the study found that nearly three‑quarters (74%) of AI’s economic value is being captured by just one‑fifth (20%) of organisations.

Examining areas such as AI investment, innovation, strategy and workforce readiness, the data shows most “AI‑fit” firms have strong foundations in place, from workforce skills to high‑quality data, governance and risk management. 

PwC found these firms invest 2.5 times more in AI than their peers, focusing on targeted builds aligned to strategic priorities, allowing them to unlock twice the value from AI and deliver 7.2 times better performance.

Added to that, AI leaders are 2.4 times more likely to build reusable assets for future deployments and are more likely to say the technology has accelerated the development of new products and services, highlighting a widening divide between this elite group and those further behind.

The research shows that these top‑performing firms are not only investing more or deploying more AI tools, but are using AI as a catalyst for growth and reinvention by reshaping business models and pursuing new revenue opportunities created as traditional industries converge.

PwC said that those showing the strongest AI performance treat the technology as a “reinvention engine”. Those furthest ahead are 2.6 times more likely to report that AI has improved their ability to reinvent their business model, and two to three times more likely to say they use AI to pursue opportunities arising from cross‑industry fusion, such as collaborating with partners outside their core sector.

The analysis suggests that capturing growth opportunities from industry convergence is the single strongest factor influencing AI‑driven financial performance, ahead of efficiency gains alone.

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Those with the best AI-driven financial outcomes are almost twice as likely as other firms to say they’re taking advantage of AI’s more advanced capabilities, such as executing multiple tasks within guardrails (1.8x) or operating in autonomous, self-optimising ways (1.9x).

AI leaders are also increasing the number of decisions made without human intervention at almost three times (2.8x) the rate of peers, automation enabled by a focus on ‘trust at scale’. 

Without a shift in approach, PwC warned that the performance gap between AI leaders and laggards is likely to widen as companies further ahead continue to learn faster, scale proven use cases and automate more decisions.

“Value is in motion like never before, and AI is accelerating at a speed we’ve never seen,” said Nicki Wakefield, PwC’s global clients and industries leader.

“The biggest gains from AI come when you move from piloting to embedding where value is actually moving. Prioritising growth and innovation, not just efficiency. Investing boldly in flexible technology, data, and your workforce all at once. “