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Rushing for AI ROI? Chances are it will cost you

CIO Business Intelligence

Many organizations have struggled to find the ROI after launching AI projects, but there’s a danger in demanding too much too soon, according to IT research and advisory firm Forrester. Measure everything Looking for ROI too soon is often a product of poor planning, says Rowan Curran, an AI and data science analyst at Forrester.

ROI 130
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When is the right time to dump an AI project?

CIO Business Intelligence

On the one side, Forrester recently warned organizations not to look for AI ROI too soon, because they could miss out on AI’s benefits. Still, a 30% failure rate represents a huge amount of time and money, given how widespread AI experimentation is today. The ROI may be coming from many of these less tangible things,” she says.

ROI 134
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Is the gen AI bubble due to burst? CIOs face rethink ahead

CIO Business Intelligence

Determining the ROI for “ubiquitous” gen AI uses, such as virtual assistants or intelligent chatbots , can be difficult, says Frances Karamouzis, an analyst in the Gartner AI, hyper-automation, and intelligent automation group. CIOs need to be able to articulate the business value and expected ROI of each project.

ROI 143
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Join us at the forefront of AI for business: Think 2024

IBM Big Data Hub

You need to move beyond experimentation to scale. Make lasting connections and exchange new ideas with IBM leaders, technical and consulting experts, partners and industry peers to help your business make AI the heart of your enterprise strategy to improve efficiencies, reduce costs, tackle cybersecurity threats and more.

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The deflating AI bubble is inevitable — and healthy

CIO Business Intelligence

Even Goldman Sachs, previously bullish on the AI story, has raised concerns over whether there’ll be positive ROI for many of the investments being made in the technology. Earlier this year, consulting firm BCG published a survey of 1,400 C-suite executives and more than half expected AI and gen AI to deliver cost savings this year.

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The portfolio approach to digital transformation: 4 keys to success

CIO Business Intelligence

Corporate projects are classically evaluated on standard matrices such as return on investment (ROI), break-even period, and capital invested. Such a risk-based capital approach is important as it provides a new experimental push to the organization that may propel it into a new orbit,” says Rabra.

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8 pressing needs for CIOs in 2024

CIO Business Intelligence

Adaptability and useability of AI tools For CIOs, 2023 was the year of cautious experimentation for AI tools. But in 2024, CIOs will shift their focus toward responsible deployment, says Barry Shurkey, CIO at NTT Data, a digital business and IT consulting and services firm.