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The 2024 Enterprise AI Readiness Radar report from Infosys , a digital services and consulting firm, found that only 2% of companies were fully prepared to implement AI at scale and that, despite the hype , AI is three to five years away from becoming a reality for most firms. What ROI will AI deliver?
“I have found very few companies who have found ROI with AI at all thus far,” he adds. The concern about calculating the ROI also rings true to Stuart King, CTO of cybersecurity consulting firm AnzenSage and developer of an AI-powered risk assessment tool for industrial facilities.
Its the year organizations will move their AI initiatives into production and aim to achieve a return on investment (ROI). What are the associated risks and costs, including operational, reputational, and competitive? Track ROI and performance. In 2025, thats going to change. Turn to experts for guidance and support.
One of the most important parameters for measuring the success of any technology implementation is the return on investment (ROI). Providing a compelling ROI on technology initiatives also puts CIOs in a stronger position for securing support and funds from the business for future projects. Align projects with business goals.
And we’re at risk of being burned out.” If there are tools that are vetted, safe, and don’t pose security risks, and I can play around with them at my discretion, and if it helps me do my job better — great,” Woolley says. But there’s only so many projects we can meaningfully contribute to, and conversations we can be part of.”
But alongside its promise of significant rewards also comes significant costs and often unclear ROI. Ineffective cost management: Over 22% of IT executives highlight challenges in managing costs and developing clear ROI methodologies. See also: Gen AI in 2025: Playtime is over, time to get practical. million in 2025 to $7.45
This can be great for technically-savvy customers but has the risk of not being sufficiently abstracted from AI costs to hold value over time, he says. While it may lack the direct ROI alignment of the outcome-based model, it simplifies the financial planning process for users who understand and manage technical resources.
Generative AI has seen faster and more widespread adoption than any other technology today, with many companies already seeing ROI and scaling up use cases into wide adoption. That means companies can use it on tough code problems, or large-scale project planning where risks have to be compared against each other.
The barrier to entry The big issue for SMBs is the cost of the computing power and related expenses needed to run modern AI models, says Tony Fernandes, CEO and chief AI officer at HumanFocused.AI, an AI consulting firm. It is too risky, and its ROI is unproven.” SMBs need to get over those concerns or risk being left behind, he says.
The discussions address changing regulatory and compliance requirements, and reveal vulnerabilities and threats for risk mitigation.” Ongoing IT security strategy conversations should address the organization’s cyber risk and arrive at strategic objectives, Albrecht says. Are we achieving maximum ROI on our security investments?
The coordination tax: LLM outputs are often evaluated by nontechnical stakeholders (legal, brand, support) not just for functionality, but for tone, appropriateness, and risk. Hallucination risk : Add stronger grounding in retrieval or prompt modifications. What breaks your app in production isnt always what you tested for in dev!
Environmental, Social, and Governance (ESG) risk management has emerged as a critical aspect of business strategy for companies worldwide. However, 57% of CEOs admit that defining and measuring the Return on Investment (ROI) and economic benefits of their sustainability efforts remain a significant challenge. Conduct ESG assessments.
Many of those gen AI projects will fail because of poor data quality, inadequate risk controls, unclear business value , or escalating costs , Gartner predicts. CIOs need to be able to articulate the business value and expected ROI of each project. For example, a gen AI virtual assistant can cost $5 million to $6.5
Therefore, always-lurking tech debt gets put on the backburner, says Daniel Saroff, group vice president for consulting and research at IDC. For big projects, ROI is incremental, Beerman notes, with little savings building up over a series of months or quarters. It’s not a sexy subject,” he says.
CFOs have an opportunity to play a key role in positioning their companies for a successful rebound by carefully assessing return on investment (ROI) and helping the C-suite make the right capital investments. ROI Analysis. Diversification and Risk. In good times, risk tolerance is relatively high.
SAP + IBM With our 50-year partnership with SAP, IBM offers the combination of SAP-enabled transformation expertise via IBM Consulting and enterprise-grade cloud platform capabilities that help accelerate our client’s ERP modernization journey no matter where they’re currently deployed.
Like most CIOs you’ve no doubt leaned on ROI, TCO and KPIs to measure the business value of your IT investments. Of late, concerns about the public “cloud-first” approach have emerged to challenge business value and skewer ROI, TCO and KPIs. Maybe you’ve even surpassed expectations in each of these yardsticks.
Im really keen to see how agentic AI is suited for driving sales conversions by enabling sales teams to strategically target clients offering the highest potential returns, adds Rebecca Fox, group CIO at NCC Group, a large cybersecurity consulting firm. Think summarizing, reviewing, even flagging risk across thousands of documents.
The announcement comes amid reluctance among some CIOs regarding the ROI of generative AI copilots. The partnership between Cognizant and Microsoft may help ease some of that, as Cognizant’s consulting services can help enterprises find ways to leverage copilots as part of their business processes.
Corporate projects are classically evaluated on standard matrices such as return on investment (ROI), break-even period, and capital invested. To capitalize on the gains offered by digital technologies, CIOs are building technology portfolios by allocating diverse investments based on prospective risk, reward, and value.
And they want to know exactly how much return on investment (ROI) can be expected when IT leaders make technology-related changes. CFOs have grown comfortable with the traditional project-based approach, through which they believe they get a better handle on spend certainty and a better sense of ROI.
The risk is very low if we accidentally go in and give away a meal when we should have denied somebody credit for a meal,” he says. Digital assistants Several large IT companies, including Microsoft and Google, have been touting gen AI digital assistants, or copilots, even though CIOs may not be entirely sold on their ROI.
The decisive factors are responsibility for the transformation, mostly locating centrally the downstream management of the new IT operating models, and the inclusion of important departments such as legal, compliance and risk management. The fundamental attitude of companies to the question of cloud or on-premises is also important.
According to a new Forrester Consulting study , the IBM Security Randori platform delivered a 303% ROI over 3 years and paid for itself in less than 6 months by helping to mitigate risk exposure, better prioritize risk response decisions and act faster.
To answer that question, Alation worked with Forrester Consulting and seven of our production customers to conduct a Total Economic Impact (TEI) study. The research examined the potential ROI enterprises realize by deploying Alation. They looked at the benefits, costs and risks associated with a data catalog investment.
While strong ROI is compelling, so is the fact that people issues are one of the top enterprise risks. ISO 30414 reflects the enterprise risks of neglecting the people aspect of corporate activities, and it shines a light on the contributions of an organization’s people. What should companies do now?
According to its spring 2024 AI Adoption and Risk Report , 74% of ChatGPT usage at work is through noncorporate accounts, 94% of Google Gemini usage is through noncorporate accounts, and 96% for Bard. Those reasons seem to make sense, Chandrasekaran acknowledges, but they don’t justify the risks that shadow AI creates for the organization.
CIO.com / Foundry They also cited AI/ML capabilities in specific areas — such as risk management, fraud detection, smart manufacturing, predictive maintenance, quality control, and personalized employee engagement — as fueling transformation.
managing risk vs ROI and emerging countries)? As enterprise architects, we need to overcome certain undeniable truths to better serve our organizations: Management does not always rely on EA to make critical decisions: They often hire consultants to come in for six months to make recommendations.
IT teams staff for select domain skills and supplement with their own form of ‘free agents,’ aka consultants. There needs to be an ROI associated with each innovative endeavor. They will be infinitely more focused and committed to finding a solution than you would be, where you have limited risk or upside.
The study identified the top CEO priorities as, among others, leading digital transformation, reducing security risk, strengthening collaboration with executive colleagues, and implementing AI. That’s not all, though, says Yang Shim, technology consulting leader with professional services firm EY Americas.
What kind of ROI can big data offer for the ecommerce sector? The good news is that there are migration guidelines that can help minimize the risk of data loss. To get the perfect result, you can consult the team or look for detailed data on the website to understand what to use and how much to pay. Start the processes.
Companies that do not anchor to brand purpose run the risk of spending millions on technologies that do not align to what customers care about. Otherwise, risks include lags in response time, a shortfall in anticipating customer needs, a reduction in customer trust and damage to the CX. Implement change enablement. Bryan Comite.
Gartner projects that spending on information security and risk management products and services will grow 11.3% To better focus security spend, some chief information security officers (CISOs) are shifting their risk assessments from IT systems to the data, applications, and processes that keep the business going. billion this year.
But in 2024, CIOs will shift their focus toward responsible deployment, says Barry Shurkey, CIO at NTT Data, a digital business and IT consulting and services firm. However, one of the questions CIOs have about this disruptive technology is how do they govern generative AI, says Daniel Saroff, group VP for consulting and research at IDC.
Here are six things to consider: • Work with the business to identify the most practical use cases that will yield ROI. Keep cyber and resilience as standing board topics, even when not at elevated risks, to create muscle memory and potential energy for when action is required. Recognize that there will be roadblocks and plan for them.
While it’s critical for tech leaders to communicate throughout a digital project, it’s also important to communicate appropriately, says Rich Nanda, US strategy and analytics offerings leader, at Deloitte Consulting. Rich Nanda, US strategy and analytics offerings leader, Deloitte Consulting. Deloitte Consulting. “In
Or even better: “Which marketing campaign that I did this quarter got the best ROI, and how can I replicate its success?”. Giving the most ROI? Predictive & Prescriptive Analysis – in short, it is based on analyzing current and historical datasets to predict future possibilities, including alternative scenarios and risk assessment.
Companies taking a multicloud approach can experience ballooning OpEx numbers, says Barrett Schrader, managing director of the technology consulting group at Protiviti: “Organizations can take advantage of volume discounts with reduced complexity. Ensuring all IT spend is directly tied to business demand acts as an automatic cost optimizer.
Marketing gaining precise insights into ROI, allowing them to optimize ad spend and refine campaign strategies With such integration, you can expect measurable improvements, as decisions are made based on a single, reliable source of truth rather than disconnected reports.
In our hundreds of generative AI engagements with clients around the world, enterprises are trying to balance massive value creation with risk mitigation—and they face a shortage of the necessary “AI for business” skills.
Modernize with purpose Before you begin, it’s essential to tie any app modernization project to the business need that is being addressed, says Aparna Sharma, a managing partner for hybrid cloud services at IBM Consulting. Picking the right approach requires carefully studying all of the available options before making a final selection.
With this objective in mind: Determine your organization’s innovation appetite (versus its risk appetite; it is too early to speak of ROI in the metaverse). Successful companies stay focused on delivering products and services in any technology context. Are we trying to improve efficiency? Learn more at vision.protiviti.com/metaverse.
1 directive for CIOs this year was to upgrade IT and data security to reduce corporate risk, cited by a third of survey respondents. Security and risk management is the highest-ranked technology initiative commanding IT investment this year, cited by 45% of respondents. For example, the C-suite’s No.
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