Quantifying the Value
To justify the use of AI, it's essential to measure its impact. This means defining key performance indicators (KPIs) and tracking them before and after the AI solution is implemented.
Measuring Success
The right KPIs depend on the problem you are solving.
- For Efficiency Problems: Measure metrics like time saved, cost reduction, or number of tasks automated.
- For Effectiveness Problems: Measure metrics like increased sales, improved customer satisfaction scores, or reduced error rates.
By quantifying the return on investment (ROI), you can make a powerful case for expanding the use of AI in your organization.