Companies keep buying AI even as Wall Street gets nervous

Companies still plan to buy AI, even as the stock market gets nervous about the technology. The Wall Street Journal reported Monday (Nov. 2) that chief information officers and tech insiders expect demand to hold. What changes is the pressure to show results, and to show them quickly.

What changed

The WSJ Leadership Institute spoke with chief information officers, the executives who run a company's technology. They said business leaders remain enthusiastic about AI. But companies are likely to watch more closely how fast AI spending turns into business value. Open-ended experiments, meaning projects without a clear goal, are less likely.

Experts also said the stock market sell-off is unlikely to change what companies buy. The decline may give buyers a stronger hand in negotiations.

Payoff is a real concern. A PYMNTS Intelligence report from August found that nearly all firms in financial services, healthcare and media say AI performs well. Almost none say it has fully paid for itself. Only 5% to 10% report a full return. At least half in every group put full payback at five to six years.

What is not known yet

The report does not say how deep the sell-off is, how much companies plan to spend, or which vendors might lower prices. For a business owner, the practical step is simple. Expect AI sellers to talk about results, and ask for proof of payoff before you sign.