AI continues to garner interest across industries, demonstrating clear benefits to cost savings, decision-making speed, and customer insights. However, fully realising benefits in a measurable way can prove difficult. Unsurprisingly, a return on investment (ROI) is top of mind for organisations and is vital to securing budget for further AI initiatives.
Computing’s latest research on AI real world use, in collaboration with Intel®, delves into how IT leaders are responding to this challenge.
Organisations that are implementing AI overwhelmingly agree it has already had a positive impact. For those that have fully deployed an AI solution, 88 per cent report it has had a significant influence on their organisation and 100 per cent say they have seen a return on their investment.
When asked where the most benefit is being seen for their data analytics and AI initiatives, IT leaders reported on gains from improved management of risk, enhanced customer insights, and the ability to meet customer needs.
Intelligent reporting that builds from historical data enables new marketing approaches for organisations. Customer insights, for example their preferences and purchasing behaviour, aids understanding of habits in a way that can produce actionable suggestions – driving long-term returns.
For example, retail banks making use of AI in Know Your Customer (KYC) processes are experiencing huge gains in efficiency as well as improved regulatory compliance.
