PwC urges local firms to use AI for growth and not just productivity

PwC Jamaica is calling on local businesses to shift their approach to artificial intelligence (AI) from mere adoption to strategic implementation for growth and innovation. According to the firm’s 2026 AI Performance Study, only 20% of global organizations capture 75% of AI’s economic value, leaving most firms stuck in experimentation. Adrian Tait, a consulting partner at PwC Jamaica, noted that companies achieving real value use AI to drive growth, enter new markets, and redesign workflows—not just cut costs. The study, which surveyed over 1,200 senior executives across 25 industries, found that leading firms are two to three times more likely to use AI for revenue generation and business model reinvention. These companies also prioritize integrating AI into core operations rather than layering it onto existing systems. Hugh Thompson, director of digital transformation at PwC Jamaica, warned that local firms must move beyond experimentation to unlock AI’s full potential in sectors like tourism, financial services, logistics, and the public sector. PwC’s research reveals that top-performing companies deploy AI autonomously, making decisions without human intervention at nearly three times the rate of peers. However, success requires strong governance, trust frameworks, and responsible AI structures. Employees in leading firms are twice as likely to trust AI-driven outputs, underscoring the need for accountability. Jamaica is currently formalizing its national AI agenda through a government-led task force, alongside discussions on a digital services tax. PwC emphasized that balancing innovation with trust will be critical as AI adoption grows. Tait stressed that building trust with customers, employees, and regulators is just as important as technological advancement for long-term success. The firm identified key sectors where AI could drive transformation, including tourism for personalized experiences and demand prediction, financial services for fraud detection, and logistics for routing and inventory optimization. Public sector efficiency could also improve through AI-driven citizen service delivery. PwC’s recommendations highlight the need for intentional investment in data, governance, and talent to ensure AI delivers sustainable value.