Source: Gartner
Summary
A recent survey by Gartner Inc. found that many organizations are uncertain about the return on investment (ROI) of artificial intelligence (AI). The survey revealed that 60% of respondents reported struggling to measure the financial impact of AI, while 40% stated that they had not seen a significant return on their AI investments. According to the survey, the main challenges in measuring AI ROI include the lack of clear metrics and the difficulty in isolating the impact of AI from other factors.
Our Reading
The trend returns with a new name.
Gartner’s survey results feel like a familiar echo of past technology adoption cycles. The uncertainty around AI ROI is reminiscent of the early days of cloud computing and big data analytics. The struggle to measure financial impact and the lack of clear metrics are common challenges in emerging technology adoption. The survey’s findings are a reminder that AI is not a silver bullet, but rather a tool that requires careful planning and execution to deliver significant returns. The AI ROI uncertainty is a classic case of “old wine in new bottles.”
ROI Uncertainty: A Familiar Story
The uncertainty around AI ROI is not a new phenomenon. Similar concerns were raised during the early days of cloud computing and big data analytics. In both cases, the lack of clear metrics and the difficulty in isolating the impact of the technology from other factors made it challenging to measure financial impact.
The AI Hype Cycle
Gartner’s survey results are a reminder that AI is still in the hype cycle. The technology is still in its early stages, and the market is still learning how to effectively deploy and measure its impact. As with any emerging technology, there will be growing pains, and the uncertainty around AI ROI is a natural part of this process.
Lessons from the Past
The uncertainty around AI ROI provides an opportunity to reflect on past technology adoption cycles. The challenges in measuring financial impact and the lack of clear metrics are common themes that run through many emerging technology adoption stories. By studying these past experiences, organizations can learn valuable lessons about how to effectively deploy and measure the impact of AI.
The Importance of Planning and Execution
Gartner’s survey results emphasize the importance of careful planning and execution in delivering significant returns from AI investments. Organizations need to develop clear metrics and strategies for measuring the financial impact of AI. They also need to ensure that they have the necessary skills and expertise to effectively deploy and manage AI solutions.
Conclusion
The uncertainty around AI ROI is a familiar story that reflects the challenges of emerging technology adoption. By studying past experiences and learning from the lessons of cloud computing and big data analytics, organizations can develop effective strategies for measuring the financial impact of AI and delivering significant returns on their investments.
Author: Evan Null
