operational efficiency and revenue growth
How To Build A Strong Business Case For AI
For most organizations, artificial intelligence (AI) stirs a range of emotions, from optimism about increased business opportunities to confusion about its potential, to concerns about job displacement and potential bias. Yet, as indicated by a Forbes Insights survey of 700 C-level executives, despite these hesitations, AI presents many opportunities from greater product and service innovation to improved decision making. Presenting AI in terms that business leadership and the board will embrace requires elevating discussions above technical concepts and speaking to business benefits such as competitiveness, operational efficiency and revenue growth. For leaders looking to reap these benefits and advance AI within their firms, making a strong, solid business case around how AI will deliver is key, especially since the Forbes Insights research also shows that many leaders aren't entirely on board with AI just yet. While 45% say IT stakeholders express "extreme urgency" that AI be applied more widely within their firms, only 29% see that same sense of urgency among their C-suite (the percentage is even lower among boards of directors--10%).