A recent report by Gregory found that over 97% of companies are failing to effectively implement AI tools and communicate their AI strategy to consumers. The report assessed 449 companies across five key dimensions to give each an AI Communications Quality Score, which includes CEO ownership, named use cases, 90-day follow-through, board and governance record, and tier-1 media coverage. The companies were then broken down into three tiers based on their scores, with only 13 companies scoring in the highest tier. Companies in the highest tier saw an average alpha improvement of 10.8% in the 90 days after their announcements, while companies in the lowest tier lost 2.2% alpha on average. The study found that the level of commitment and follow-through was the biggest difference between successful and unsuccessful AI announcements. The CEO's personal involvement and the company's ability to name specific use cases and follow through on their plans were key factors in determining the success of an AI announcement. The report recommends that companies follow a pre-announcement checklist to ensure they are prepared to effectively communicate their AI strategy. The data suggests that waiting to announce an AI initiative until the company is prepared is better than announcing it poorly, as poorly told AI stories can lead to negative excess returns. The study's findings hold true even when excluding tech giants such as Alphabet, Meta, and Amazon, with Tier 1 companies outperforming Tier 3 companies by 11.3 percentage points. Overall, the report highlights the importance of effective communication and follow-through in implementing AI tools and achieving positive returns on investment.