It is also wrong to frame limited stock outperformance as proof that AI has no benefit. Stock prices reflect broader market conditions, not just adoption of a single technology. Early deployments rarely transform earnings instantly. The internet looked commercially underwhelming in the mid-1990s too, before business models matured.
The article confuses the immaturity of current generative AI pilots with the broader potential of applied AI. Failures of workplace pilots usually result from integration challenges, not because the technology lacks value. The fact that 374 S&P 500 companies are openly discussing it shows the opposite of “no clear upside” — it shows wide strategic interest.