Only 2 per cent of Canadian companies are seeing a return on their investments in generative artificial intelligence despite widespread adoption by businesses, according to a new survey from KPMG.

KPMG polled 753 executives in Canada and found that 93 per cent said their organizations are using AI in some way, up from 61 per cent a year ago. But only a handful said they are seeing benefits from a technology that is supposed to deliver productivity gains and cost savings.

“That 2 per cent was disappointing and surprising. I would have hoped and expected it to be higher,” said Stephanie Terrill, Canadian managing partner of digital and transformation at KPMG.

While generative AI can be prone to errors (known as hallucinations), the reasons for the low return on investment so far have

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