How are you measuring and demonstrating the ROI of your AI investments at scale?
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Director of Systems Operations in Healthcare and Biotecha month ago
At present, it seems we are still grappling with understanding the full scope and maturity of AI investments. The excitement around AI continues to drive investment, but a comprehensive understanding of the costs and the true ROI is not yet clear. We recognize improvements, particularly in research areas such as cancer detection, yet quantifying the true cost and ROI remains elusive. We are still in the early stages of understanding the upfront costs, which makes it challenging to calculate ROI accurately.Global Digital Workplace Sr. Director, Global Technology & Security in Healthcare and Biotecha month ago
To address this challenge, we have implemented a model to measure the ROI of our AI tool across six key performance indicators: time savings, effort reduction in routine tasks like document preparation and email writing, work quality, creativity enhancement, overall well-being by removing routine tasks, and user satisfaction. We compared these metrics against a reference group to establish a clear benchmark.In practical terms, our findings have been significant. For instance, our data shows that the average user of the copilot saves approximately 23 minutes per day. This translates into substantial annual time savings, which, when offset against the cost of the AI tool, results in significant financial savings per user. In the UK, for example, this amounted to a net saving of approximately 2,000 pounds per user.
IT Manager in Constructiona month ago
This brings up an important consideration: what happens with the time that AI saves? Does it lead to employees working more on other tasks?
Global Digital Workplace Sr. Director, Global Technology & Security in Healthcare and Biotecha month ago
That's a crucial aspect of our approach to AI implementation. Our goal is to enhance overall well-being and work-life balance. The time saved by using AI is intended to allow employees to focus on more critical and impactful tasks, rather than extending their work hours. This shift not only increases productivity but also improves job satisfaction by eliminating time-consuming, mundane tasks.
Director of Engineeringa month ago
Brainstorm a usecase with customer in center. Build your AI strategies around it and measure results. If a simple customer usecase can be automated ..it’s a big win. That’s how the ROI on AI investments should be measured.