Artificial intelligence is in transition, both as a technology and in how it’s being used. Companies are increasingly bringing AI pilots out of the test labs and deploying them at scale, and some are seeing significant benefits as a result. Regardless of any uncertainty surrounding AI, ignoring its potential poses the risk that companies doing business the old way will go under.
For many organizations, however, deriving value from AI may be elusive. Their models might not be tuned. Their training data sets might not be big enough. Customers may be leery. There are also concerns about bias, ethics, and transparency. Pushing an AI initiative into production before it’s ready, or expanding an AI strategy beyond an initial phase before properly vetting its results can cost a company money, or worse, send it in a direction detrimental to the business.
So how do you know whether an AI project will transform or sabotage your company? Without hard ROI numbers, companies have to get creative with ways to know for certain. Here’s a look at how IT leaders and industry insiders gauge value of AI.
Mature vs. groundbreaking technologies
Measuring the business value of any initiative or technology isn’t always a linear calculation. AI is certainly no exception, especially when degrees of maturity and business potential are taken into consideration. Proven and predictive variables — like data mining, cost and training savings, investment and the ability to facilitate new uses — influence decisions when it comes to acceptable ROI, but putting a degree of trust in the technology, no matter how new or established, is essential.
Continue reading: https://www.cio.com/article/405620/measuring-the-business-impact-of-ai.html
For many organizations, however, deriving value from AI may be elusive. Their models might not be tuned. Their training data sets might not be big enough. Customers may be leery. There are also concerns about bias, ethics, and transparency. Pushing an AI initiative into production before it’s ready, or expanding an AI strategy beyond an initial phase before properly vetting its results can cost a company money, or worse, send it in a direction detrimental to the business.
So how do you know whether an AI project will transform or sabotage your company? Without hard ROI numbers, companies have to get creative with ways to know for certain. Here’s a look at how IT leaders and industry insiders gauge value of AI.
Mature vs. groundbreaking technologies
Measuring the business value of any initiative or technology isn’t always a linear calculation. AI is certainly no exception, especially when degrees of maturity and business potential are taken into consideration. Proven and predictive variables — like data mining, cost and training savings, investment and the ability to facilitate new uses — influence decisions when it comes to acceptable ROI, but putting a degree of trust in the technology, no matter how new or established, is essential.
Continue reading: https://www.cio.com/article/405620/measuring-the-business-impact-of-ai.html
