We often think of AI as a technological revolution that will transform industries, disrupt jobs, and change the nature of competitive advantage. But inside organizations, it’s unfolding in a much more complex, less predictable way. In many firms, AI is still more narrative than operational reality, making it hard to move from discussion to meaningful action.

This tension was revealed by senior leaders of global firms at a recent workshop in Paris co-organized by INSEAD’s Stone Centre for the Study of Wealth Inequality, its counterpart at University College London, and the Centre for Economic Policy Research (CEPR).

The senior executives, who came from professional services, retail, creative, consumer goods, and other sectors, spoke on condition of anonymity. They said AI is reshaping how work gets done, how decisions are made, and how value gets created and distributed, but that the real challenge is how firms make sense of the AI transformation.

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