The majority of organizations using generative AI see a quick return on their investment, with many experiencing significant revenue growth. In addition, most organizations can rapidly develop and implement generative AI solutions, leading to faster time-to-market and increased user satisfaction.
These conclusions come from Google Cloud’s new report The ROI of GenAI. According to the study, AI leaders are moving beyond experimental phases and embedding generative AI into their everyday business processes.
Key insights from the research, which was conducted on a global level:
- Proven ROI: 74% of organizations using generative AI report a return on investment (ROI) within the first year.
- Speed of Value Generation: 84% of organizations can successfully transition a generative AI use case from ideation to production within six months.
- Executive Leadership: organizations with strong executive sponsorship are more likely to experience a 6% or greater increase in revenue.
- Productivity & Performance: 45% of businesses that have experienced productivity gains have seen employee productivity more than double.
- Customer Experience: 85% of organizations reporting improved user experience also saw a significant boost in user engagement.
In sum, Google Cloud’s document underscores the transformative power of generative AI with tangible metrics. By effectively integrating this technology, businesses can significantly enhance profits, streamline operations, elevate customer experiences, and maintain a competitive edge.
