Artificial intelligence is increasingly delivering tangible business value for global businesses, right now.

That’s the headline finding of a new study by SAP, which has revealed the average global business is spending US$26.7 million on AI this year, including software, infrastructure, talent, and consulting. That investment is expected to drive ROI of 16% this year (an average of US$4.7m), which is expected to nearly double in two years’ time to 31% (US$12.3m).

More than three-quarters of businesses (79%) expect investments in AI to achieve a positive ROI in less than three years. So much so that AI is expected to become a central part of business processes, decisions, and customer offerings for the majority of respondents in 2029. Only 3% of businesses say AI will never become a central part of how their business runs.

These insights have been revealed in new global research released today. The study, The SAP Value of AI Report, commissioned Oxford Economics to survey 1,600 business leaders of enterprise and midmarket businesses across eight countries (Australia, Brazil, China, Germany, India, Singapore, the United Kingdom, and the United States).

Yet, there remain issues with the strategic adoption of AI. Most AI investment is reported to be piecemeal (44%), based on department-led prioritisation (32%), or even ad hoc (15%). Just 9% of businesses are investing based on strategic, holistic prioritisation. Yet, despite hurdles to wider adoption, almost two-thirds of companies are finding solutions and continue to progress.

Global businesses see greater opportunity for AI ROI

Investment in AI is moving beyond experimentation into adoption around the world. China leads global AI investment this year (US$42.8m), followed by the US, Germany, and India. The report found organizational investments in AI are expected to increase by an average of 37% over the next two years.

Almost two-thirds (64%) of respondents noted they are satisfied with their organization’s current ROI on AI, higher than any other technology investment. That may in part be because 49% of businesses expect AI initiatives to deliver positive ROI faster than other investments.

"We commissioned this research to help enterprises cut through the hype, understand AI’s real business impact, and accelerate their own measurable outcomes," said Brenda Brown, Chief Marketing Officer of AI at SAP. "The findings show that when companies connect AI to quality data, invest in skills, and embed intelligence into core workflows, they generate meaningful returns on investment."

Over half (59%) of businesses say AI has been effective in helping their business overcome key organizational challenges, with significant improvement seen in driving insights and decision-making, engaging with customers and prospects, and driving productivity. Yet, despite these benefits and positive ROI, two-thirds of respondents (65%) are still either unsure or don’t agree that AI is delivering its full potential.

Data and shadow AI challenge the state of AI today

Today, AI is part of everyday business processes. An average of 25% of tasks across global businesses are supported by AI today, a figure that is expected to rise to 41% in two years.

But challenges remain. While 64% of businesses say their data readiness is sufficient to support AI adoption, several lines of business—including majorities in legal, finance, HR, and the CEO’s office—do not. More than half of businesses lack confidence in their ability to responsibly share and integrate data between business functions (55%) or with external partners (60%). That readiness is being impacted by incomplete or inconsistent data, poor data quality, and siloed data.

And 77% of organizations continue to have concerns about shadow AI—the unsanctioned use of AI without either approval or oversight. This is significant given that 64% of businesses say staff use third-party AI tools without approval or oversight at least occasionally. Just 9% of businesses say their staff never use shadow AI.

The future of AI ROI is agentic

While many businesses are adopting AI automation and generative AI today, future investment is expected to focus on AI agents. Agentic AI refers to intelligent, autonomous systems that can plan, act, reflect, and collaborate to solve business problems.

Today, only 5% of businesses are fully prepared to deploy and scale AI agents, while the majority (54%) say they are partially prepared.

Yet expectations are high. Over three-quarters (78%) of businesses rate AI agents as having moderate to high potential to transform operations within the organization. And 67% agree AI agents can add significant value to their business by managing complex workflows across business units.

In the next two years, global businesses expect return on investment from agentic AI of 10%, or approximately US$4.3 million. That’s why over half of businesses (51%) say agentic AI has significantly influenced their strategic planning for the next two years.

Agentic AI—the systems that plan, execute, and collaborate across complex processes—will be the next wave of business transformation," Brown added. "ROI expectations of AI agents are already strong, but for enterprises, realizing that value will depend on integrated foundations of data, applications, and AI. Our focus at SAP is partnering with our customers to bring those elements together like only we can."