Remove Cost-Benefit Remove Experimentation Remove Marketing Remove ROI
article thumbnail

Is the gen AI bubble due to burst? CIOs face rethink ahead

CIO Business Intelligence

Many of those gen AI projects will fail because of poor data quality, inadequate risk controls, unclear business value , or escalating costs , Gartner predicts. Gen AI projects can cost millions of dollars to implement and incur huge ongoing costs, Gartner notes. For example, a gen AI virtual assistant can cost $5 million to $6.5

ROI 142
article thumbnail

The deflating AI bubble is inevitable — and healthy

CIO Business Intelligence

Even Goldman Sachs, previously bullish on the AI story, has raised concerns over whether there’ll be positive ROI for many of the investments being made in the technology. But there comes a point in a new technology when its potential benefits become clear even if the exact shape of its evolution is opaque.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Exploration to elimination: CIO road map for adaptive technology portfolios

CIO Business Intelligence

Key strategies for exploration: Experimentation: Conduct small-scale experiments. Data-driven decisions: Leverage data and analytics to assess new technologies’ potential impact and ROI. Cost-benefit analysis: Evaluate the total cost of ownership (TCO) in maintaining outdated technologies versus the benefits of retiring them.

article thumbnail

Why enterprise CIOs need to plan for Microsoft gen AI

CIO Business Intelligence

Ahead in a broad market In Morgan Stanley’s quarterly CIO survey, 38% of CIOs expected to adopt Microsoft Copilot tools over the next 12 months. The cost of OpenAI is the same whether you buy it directly or through Azure. Organizations typically start with the most capable model for their workload, then optimize for speed and cost.

article thumbnail

Ferrovial puts AI at the heart of its transformation

CIO Business Intelligence

With the aim to accelerate innovation and transform its digital infrastructures and services, Ferrovial created its Digital Hub to serve as a meeting point where research and experimentation with digital strategies could, for example, provide new sources of income and improve company operations.

IT 103
article thumbnail

Belcorp reimagines R&D with AI

CIO Business Intelligence

As Belcorp considered the difficulties it faced, the R&D division noted it could significantly expedite time-to-market and increase productivity in its product development process if it could shorten the timeframes of the experimental and testing phases in the R&D labs. Reimagine business processes.

article thumbnail

13 IT resolutions for 2024

CIO Business Intelligence

What benefit does AI serve to that department? Bring the whole organization on the AI journey CIOs also see the need to bring everyone along on that AI journey, something that takes a well-articulated narrative about the benefits AI can bring to those who are and will be impacted by the technology. Statistics can be very misleading.

IT 144