How can we measure the impact of AI in our organization?

How can we measure the impact of AI in our organization?

Measuring AI impact can involve metrics like ROI, efficiency improvements, and user satisfaction. What specific area are you interested in?

I'm particularly interested in ROI. How do we calculate that?

To calculate ROI, you can use the formula: (Net Profit from AI - Cost of AI) / Cost of AI. Do you have specific figures in mind?

Yes, we invested $100,000 in AI and generated an additional $150,000 in profit. What would that be?

Using your figures, the ROI would be (150,000 - 100,000) / 100,000 = 0.5 or 50%. This means for every dollar spent, you gained $1.50.

That sounds promising! What other metrics should we consider?

In addition to ROI, consider metrics like productivity gains, customer satisfaction scores, and time saved on tasks. Would you like to explore any of these further?