These days, investors, founders, analysts, and tech loyalists can’t stop talking up how artificial intelligence will radically remake the future of work. But a new study suggests that while AI might have some amazing future uses, at the moment, it’s not doing much good to anyone.

In a “State of AI in Business 2025” report, researchers at MIT Media Lab found that despite enterprise investments of as much as $40 billion in generative AI, 95% of organizations have seen no return on their investment so far.

“Just 5% of integrated AI pilots are extracting millions in value, while the vast majority remain stuck with no measurable P&L [profit and loss] impact,” the report reads. “This divide does not seem to be driven by model quality or regulation, but seems to be determined by approach.”

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