target audience: TECH BUYER Publication date: Sep 2023 - Document type: IDC Perspective - Doc Document number: # US49316123
Achieving ROI with GenAI
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Abstract
This IDC Perspective provides insights on how to think about generative AI (GenAI) in the context of ROI and today's business environment, but it will not give you details on what the return on investment (ROI) for generative AI is. GenAI has flooded mindshare across all industries and markets. But as business executives examine GenAI, they are realizing that it doesn't quite fit the business models of the past. The universal tracking metric for business is ROI. But how do you apply ROI to a technology that has hundreds of use cases? GenAI is a foundational, industry-changing tech that will become part of every business. Learn more about the ROI of GenAI and the unique characteristics and challenges that are revolutionizing industry.
"ROI is the fundamental metric in business, but for GenAI, business executives are still drowning in the cost side of the ratio because they're not looking ahead. Executives need to think revolutionarily — not incrementally — to understand where GenAI will take them," said Ananda Chakravarty, research VP, IDC Retail Insights.