Part 9/12:
- Revenue and Cost Implications: Using AI for automation, customer engagement, and internal optimizations can yield significant ROI. Conversely, avoidance results in higher costs and missed revenue opportunities.
Calculating ROI and Managing Risks
Measuring ROI in AI initiatives is complex, given some benefits are long-term, intangible, or hard to quantify.
Short to Medium-Term Gains: These include operational efficiencies like reduced manual effort, faster decision-making, and improved customer experience.
Long-Term Gains: Strategic advantages like the development of new products and services (e.g., conversational shopping bots) and technological leadership.