I’ve spent the last two decades building and scaling operating-intensive businesses, including founding Freshly, which was acquired by Nestlé in a transaction valued at approximately $1.5 billion, and now leading Petfolk, a fast-growing veterinary clinic platform backed by more than $150 million in capital. Across those experiences, one lesson has become increasingly clear: when a new technology meaningfully changes what is possible, organizations must rethink how they operate in order to capture its full value.
Executives and boards across industries are voicing the same concern. After billions invested in artificial intelligence initiatives, many organizations report little measurable return. That frustration is real and well documented. According to a PwC Global CEO Survey, which Fortune has previously covered, 56% of companies say AI has yet to deliver either cost savings or increased revenue, and only about 12% report gains on both fronts.
Speaking with Fortune at Davos, PwC Global Chairman Mohamed Kande argued that the shortfall is not about AI’s capability, but execution, noting that many companies “forgot the basics,” including clean data, disciplined processes, and governance.
