What's Happening?
A recent survey by Thomson Reuters reveals that while a majority of professional service organizations are using generative AI, only 18% are tracking their return on investment (ROI). The survey highlights that 42% of organizations do not measure ROI for
their AI tools, and 40% are unsure if they do. When ROI is measured, it often focuses on internal metrics like cost savings and employee usage rather than business performance. Despite this, the use of generative AI has increased significantly, with 40% of professional service firms and 34% of tax firms using it. The technology is primarily used for research, document summarization, and bookkeeping tasks.
Why It's Important?
The lack of ROI tracking for AI tools suggests that many organizations may not fully understand the impact of AI on their business operations. This could lead to missed opportunities for optimizing AI use and improving business outcomes. As AI becomes more integrated into professional workflows, organizations that develop robust measurement frameworks will be better positioned to leverage AI for competitive advantage. Understanding the true value of AI investments can help organizations make informed decisions about future technology adoption and resource allocation.
What's Next?
As AI technology continues to evolve, organizations are expected to develop more sophisticated methods for measuring its impact. This may include tracking external metrics such as client satisfaction and revenue growth. As measurement frameworks improve, organizations will likely gain a clearer understanding of how AI contributes to business success. Additionally, as clients become more aware of AI use, firms may need to address specific client requests regarding AI applications, ensuring transparency and trust in their services.
