The week in AI: AI and ROI

Happy Friday!!!

Welcome to this week's edition of 'The week in AI'.

Let's dive into how AI is making a measurable difference within organizations, and maybe, by the end of this newsletter, you'll start thinking about how AI can impact your ROI too!

Pinpointing the Value of AI Investments

The excitement about artificial intelligence (AI) is at an all-time high, with corporate boardrooms investing heavily in AI infrastructure, highlighted by the article from CIO.com. Many executives are challenged by the need to demonstrate tangible Return on AI (ROAI), the article emphasizes that successful AI adoption hinges on demonstrating cost savings and revenue generation, with a focus on developing business-specific use cases that will make the concept of ROAI increasingly clear.

What kind of AI use cases do you think would bring the most value to your business?

Meta's Advantage+ AI Revolutionizes Ad Creation

Meta is set to revolutionize ad creation by integrating full image and text generation into its Advantage+ platform, promising to speed up the process and enhance ad performance for advertisers globally later this year. With the innovative AI tools, advertisers can now generate images and apply text overlays, creating diverse ad variations that could include anything from a lush farm scenery to a tailored coffee cup, all to effectively promote products like a fragrant cup of coffee. The company is also exploring ways to infuse the advertiser's brand voice into the AI-generated text, with Meta's head of monetization, John Hegeman, highlighting the significant time and resource savings these generative AI tools offer, as well as their potential to boost productivity. Imagine the creative possibilities!

Expion Health's AI Drives Efficiency and Cost Savings

Expion Health has revolutionized its RFP process by developing ExpionIQ Advisor, an AI tool that significantly reduces the time required to calculate rates for potential customers from days to mere hours, as reported by CIO.com. The innovative tool is not only streamlining Expion Health's internal operations but is also projected to save the cost of approximately 1.5 data analyst full-time equivalents, indicating substantial cost savings for the firm. With the AI application already turning a profit in its pilot stage, Expion Health anticipates around $300,000 in sales this year, as the technology garners interest from customers seeking to license it for their own use. Efficiency and cost-saving all in one—what's not to love?

C.H. Robinson's AI Mastery in Logistics

As reported by Yahoo Finance, C.H. Robinson has hit a technological milestone by processing 2,000 customer quote requests daily using a sophisticated AI, significantly reducing response times to an average of just two minutes and 13 seconds. By harnessing AI to automate responses, the logistics giant now efficiently manages over 11,000 truckload freight pricing requests via email each day, freeing up their staff to focus on more strategic tasks. The Eden Prairie-based company C.H. Robinson is further enhancing their AI capabilities to support less-than-truckload and expedited freight pricing, aiming to provide higher value work for their supply chain experts and foster company growth. Could your company benefit from such an AI-driven efficiency boost?

It's fascinating to see how AI is reshaping the business landscape, isn't it? From marketing to logistics, AI is carving a path for more efficient, creative, and cost-effective business practices. It's clear that the ROI on AI can be significant, but it requires a strategic approach and the right use cases.

What's your take on this? How do you envision AI impacting your business's bottom line? Share your thoughts!