Published on May 22, 2024, 6:38 am

The adoption of Artificial Intelligence (AI) in various organizations has been rapidly increasing, with over 95% of IT leaders reporting its implementation in at least one business process. Despite this widespread adoption, many organizations are still struggling to see the return on investment for AI technologies. A recent Gartner survey highlighted that difficulties in estimating and demonstrating the value of AI to the business remain a significant barrier to its implementation for many organizations.

One of the key challenges pointed out by nearly half of the survey respondents is the difficulty in showing the value of AI. This issue is further compounded by concerns such as a lack of skilled talent among employees and a general lack of confidence in AI technologies. Additionally, some companies are adopting AI without a clear use case in mind, leading to concerns about calculating the return on investment.

Ryan Kane, owner of an IT managed services provider, emphasizes the importance of educating clients on how to effectively utilize AI tools to realize their full potential. He likens using AI without proper training to handing a chisel to an amateur – it may result in missed opportunities. Similarly, Stuart King, CTO of a cybersecurity consulting firm, highlights the significance of identifying specific problems that AI can solve before implementing the technology.

Generative AI emerges as one of the most adopted AI-related technologies according to the survey, followed closely by machine learning and natural language processing. However, showcasing ROI for generative AI and other AI technologies remains a considerable challenge for many organizations.

To address these challenges, Gartner recommends that organizations considering deploying AI first identify potential use cases, establish metrics for measuring value, and conduct pilot programs before full-scale implementation. It is crucial for businesses to focus on learning how to leverage AI effectively to solve real-world problems and maximize its benefits.

One company that has successfully integrated AI into its operations is CNH Industrial, utilizing AI in equipment health monitoring systems, code development assistance, autonomous driving systems, and more. Despite their embrace of AI technology, CNH also faces difficulties in quantifying the ROI from their implementation efforts.

In conclusion, while AI presents immense possibilities for innovation and efficiency improvements within organizations, it is essential for businesses to approach its adoption thoughtfully. Educating employees about AI capabilities, identifying specific use cases with measurable outcomes, and running controlled experiments are vital steps towards realizing tangible returns from AI investments. By understanding how best to leverage AI tools effectively, organizations can unlock significant value and drive successful outcomes in their respective industries.

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