You're considering integrating AI into your digital strategy. How will you prove its ROI to stakeholders?
To convincingly showcase AI's value to stakeholders, focus on measurable outcomes. Here are key strategies:
Curious about your experiences with AI and ROI? What strategies have worked for you?
You're considering integrating AI into your digital strategy. How will you prove its ROI to stakeholders?
To convincingly showcase AI's value to stakeholders, focus on measurable outcomes. Here are key strategies:
Curious about your experiences with AI and ROI? What strategies have worked for you?
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If you are serious with AI, you have to be serious with data, especially data quality. Define KPIs to compare the collaboration and combination with and without clear data base via the installed technology and Show up the Potential to Identify the ROI.
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In my opinion, demonstrating AI's impact through pilot projects with measurable outcomes, such as increased efficiency or revenue, can showcase its ROI. Presenting case studies and clear projections helps build stakeholder confidence in the investment.
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When incorporating AI into a digital strategy it is imperative to ensure that the technology is being leveraged to solve for suitable problems or exploit suitable opportunities that are tied to the businessâ strategic objectives. Too often AI is being used for use cases that could otherwise be simply addressed using conventional technology. Having said that, hard ROI can still be achieved from AI in the form of: â Time savings through automation â Cost savings through optimising the workforce â Revenue increase by personalising product and service offerings In addition to these hard returns, AI can provide a number of soft returns. They include: â Better customer experience â Improved staff engagement â Improved business agility
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From practical experience on this subject, I suggest 7 actions: 1. Define clear objectives: Set tangible goals, such as increasing revenue, reducing costs or improving customer experience. 2. Choose measurable KPIs: Identify metrics such as retention, operational efficiency or conversion rate. 3. Run pilot projects: Conduct small-scale tests to validate the impact before full implementation. 4. Compare results: Compare performance before and after AI adoption. 5. Generate insights with data: Use analytics to show quantitative and qualitative gains. 6. Engage stakeholders: Present periodic reports focusing on benefits. 7. Continuously adjust: Reevaluate the strategy based on the results obtained.
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Integrating AI into a digital strategy is an exciting step and difficult at times, but proving ROI is often the most crucial part of gaining stakeholder buy-in. Clear benchmarks and measurable outcomes are key. Start by defining specific business objectives for AI implementationâwhether it's reducing operational costs, increasing sales, or enhancing customer engagement. Use pilot projects or proof-of-concept phases to collect data (for baseline/benchmark) on performance improvements. Metrics like revenue lift, time saved (efficiency), or customer satisfaction scores can provide tangible evidence of AI's value. Regularly sharing transparent, data-driven updates with stakeholders helps to maintain trust and alignment.
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