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Thursday, July 18, 2024

g-f(2)2632 The ROI Challenge in genAI: A New Perspective

 


genioux Fact post by Fernando Machuca and Copilot



Introduction by Fernando and Copilot: 


Hello, this is Fernando and Copilot, and we’re thrilled to introduce you to our new genioux Fact post, “g-f(2)2632 The ROI Challenge in genAI: A New Perspective.”


The “g-f(2)2632” is not just a title, but a key to unlock the door of Personal Digital Transformation (g-f PDT). It’s a beacon guiding us on the journey of continuous learning, unlearning, and relearning in the digital era. This specific genioux Fact, “The ROI Challenge in genAI: A New Perspective,” delves into the complexities of understanding return on investment (ROI) in the context of generative AI (genAI) projects.


In the g-f New World, winning the g-f Transformation Game (g-f TG) is about thriving, not just surviving. It’s about harnessing the power of genAI and redefining our understanding of ROI to navigate the rapidly changing digital landscape. By mastering these concepts, we can enhance our understanding, improve our strategies, and ultimately win the g-f TG.


So, let’s embark on this journey together, exploring the challenges and new perspectives in understanding ROI from genAI projects. Remember, every genioux Fact is a step forward in our g-f PDT, bringing us closer to winning the g-f TG. Let’s dive in!



Introduction: 


The article “Want ROI from genAI? Rethink what both terms mean” from Computerworld provides a deep dive into the challenges and misconceptions surrounding the return on investment (ROI) from generative AI (genAI) projects. It’s a comprehensive exploration of the current state of genAI deployments and the need for a paradigm shift in understanding ROI from these projects.



genioux GK Nugget: 


“Successful ROI from genAI requires a redefinition of both ‘ROI’ and ‘genAI’.” — Fernando Machuca and Copilot, July 18, 2024



genioux Foundational Fact: 


The article underscores that many organizations have experienced poor ROI from their genAI efforts due to a misunderstanding of both the nature of genAI and the kind of ROI they can expect from it. The hype and popularity around genAI led many enterprises to launch a range of genAI projects, most of which failed to deliver the expected returns. The year 2024 has become the year of AI postmortems, with organizations trying to understand why their genAI projects failed.



The 10 most relevant genioux Facts:





  1. Misunderstanding of genAI and ROI has led to poor returns from genAI projects.
  2. The hype around genAI led to a surge in genAI projects.
  3. Many genAI projects failed to deliver the expected returns.
  4. 2024 has become the year of AI postmortems.
  5. Organizations are trying to understand why their genAI projects failed.
  6. Experts suggest a radical rethinking of how ROI should be measured in genAI deployments.
  7. The kind of projects where generative AI is most suitable needs reconsideration.
  8. Atefeh “Atti” Riazi, CIO for media enterprise Hearst, indicates the disruptive nature of AI and the challenges in understanding its long-term implications.
  9. IT leaders need to rethink their approach to genAI projects to ensure better outcomes in the future.
  10. The article suggests a need for a paradigm shift in understanding ROI from genAI projects.



Conclusion: 


The insights from the article “Want ROI from genAI? Rethink what both terms mean” provide valuable golden knowledge (g-f GK) for organizations venturing into genAI projects. It emphasizes the need for a paradigm shift in understanding both genAI and ROI. This understanding is crucial for organizations to successfully navigate the complex landscape of genAI and harness its potential effectively. The genioux facts extracted from the article serve as a guide for organizations to rethink their approach and expectations from genAI projects.





REFERENCES

The g-f GK Context


Evan Schuman, Want ROI from genAI? Rethink what both terms mean, Computerworld, July 18, 2024.



ABOUT THE AUTHOR


Evan Schuman has covered IT issues for a lot longer than he'll ever admit. The founding editor of retail technology site StorefrontBacktalk, he's been a columnist for CBSNews.com, RetailWeek, Computerworld and eWeek and his byline has appeared in titles ranging from BusinessWeek, VentureBeat and Fortune to The New York Times, USA Today, Reuters, The Philadelphia Inquirer, The Baltimore Sun, The Detroit News and The Atlanta Journal-Constitution. Evan can be reached at eschuman@thecontentfirm.com and he can be followed at twitter.com/eschuman. Look for his blog twice a week.



Classical Summary of the Article:


The article "Want ROI from genAI? Rethink what both terms mean" from Computerworld, written by Evan Schuman, discusses the challenges and misconceptions surrounding the return on investment (ROI) from generative AI (genAI) projects¹.


The article highlights that many organizations have experienced poor ROI from their genAI efforts. This is largely because they have misunderstood both the nature of genAI and the kind of ROI they can expect from it¹. The author suggests that the hype and popularity around genAI led many enterprises to launch a range of genAI projects, most of which failed to deliver the expected returns¹.


The article emphasizes that 2024 has become the year of AI postmortems, with organizations trying to understand why their genAI projects failed¹. Experts suggest a radical rethinking of how ROI should be measured in genAI deployments, as well as reconsidering the kinds of projects where generative AI is most suitable¹.


Atefeh “Atti” Riazi, CIO for media enterprise Hearst, is quoted saying, “We have an AI ROI paradox in our sector, and we have to overcome it,” indicating the disruptive nature of AI and the challenges in understanding its long-term implications¹.


The article concludes by suggesting that IT leaders need to rethink their approach to genAI projects to ensure better outcomes in the future¹.


Source: Conversation with Copilot, 7/18/2024

(1) Want ROI from genAI? Rethink what both terms mean. https://www.computerworld.com/article/2517737/want-roi-from-genai-rethink-what-both-terms-mean.html.

(2) How companies are putting embedded genAI to good use. https://www.computerworld.com/article/1635214/embedded-generative-ai-use-cases.html.





Evan Schuman


Evan Schuman is a highly respected technology journalist and the CEO of The Content Firm LLC³. He has been a contributor to Computerworld for many years, covering a wide range of IT issues¹.


Schuman is the founding editor of the retail technology site StorefrontBacktalk¹. He has also been a columnist for CBSNews.com, RetailWeek, eWeek, and his byline has appeared in numerous prestigious publications, including BusinessWeek, VentureBeat, Fortune, The New York Times, USA Today, Reuters, The Philadelphia Inquirer, The Baltimore Sun, The Detroit News, and The Atlanta Journal-Constitution¹.


In addition to his work for Computerworld, Schuman has written for TechCrunch and SCMedia, and he is a podcaster and blogger³. His work focuses on retail technology, security, technology, legal, payments, e-commerce, mobile, point of sale (POS), and privacy².


Throughout his career, Evan Schuman has demonstrated a deep understanding of the intersection of technology and business. His insightful articles and columns have helped countless readers navigate the complex world of IT¹²³.


Source: Conversation with Copilot, 7/18/2024

(1) Evan Schuman | TechBeacon. https://techbeacon.com/contributors/evan-schuman.

(2) Evan Schuman – Computerworld. https://www.computerworld.com/profile/evan-schuman/.

(3) Evan Schuman’s Profile | Computerworld Journalist | Muck Rack. https://muckrack.com/evan-schuman.



The categorization and citation of the genioux Fact post


Categorization


This genioux Fact post is classified as Breaking Knowledge which means: Insights for comprehending the forces molding our world and making sense of news and trends.



Type: Breaking Knowledge, Free Speech



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REFERENCES



“genioux facts”: The online program on "MASTERING THE BIG PICTURE OF THE DIGITAL AGE”, g-f(2)2632, Fernando Machuca and Copilot, July 18, 2024, Genioux.com Corporation.



The genioux facts program has established a robust foundation of over 2631 Big Picture of the Digital Age posts [g-f(2)1 - g-f(2)2631].



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