Published on May 23, 2024, 8:49 pm

Finding the return on investment in Artificial Intelligence (AI) remains a challenge for many organizations, even as they rush to adopt the technology. Difficulties in estimating or demonstrating the value of AI technologies for business have been or will be one of the main barriers to implementation, according to a recent Gartner survey of over 700 IT leaders in organizations that have adopted or plan to adopt AI. Almost half of the respondents cited challenges in showcasing its value.

Among other significant concerns are the lack of talent and skills among employees and a lack of trust in AI technologies. Nevertheless, beyond these questions, adoption is widespread: over 95% of IT leaders say that AI has been implemented in at least one business process. More than a quarter of the respondents have adopted AI for multiple commercial processes across various business units.

Despite the high adoption rate, concerns about the value of AI do not come as a surprise to industry experts. Many organizations are still exploring how to leverage Generative AI effectively, with some businesses struggling to realize ROI due to factors like insufficient training and access to internal data.

As the landscape shifts towards increased Generative AI usage, it becomes crucial for organizations to strategize around use cases, establish metrics for measuring value and conduct pilot programs before scaling up projects significantly. Cost implications also play a vital role in decision-making regarding Generative AI adoption.

Organizations like CNH Industrial have tactfully embraced AI by utilizing it in equipment monitoring systems and developing autonomous driving systems. Despite full-fledged integration, CNH faces challenges in quantifying ROI effectively. The journey towards harnessing the true potential of AI tools involves a learning curve but can unlock numerous problem-solving capabilities once mastered.

Measuring AI’s impact is paramount for organizations moving forward; a clear understanding of use cases and potential outcomes will drive successful implementation strategies. As companies navigate the evolving realm of Artificial Intelligence, aligning technology initiatives with tangible results remains key to sustainable growth and innovation.

Share.

Comments are closed.