Google’s The ROI of Gen AI global survey shows that gen AI is more than just a new technology; it is, according to the tech giant, a ‘key driver of business transformation’.

By thoughtfully incorporating it into their organisations, Google claims that companies can achieve significant financial returns, improve efficiency and sustain growth.

The report states: ‘For CEOs, the message is clear: gen AI is an essential tool for staying competitive in a fast-changing market.’

Key Insights

The survey found that gen AI helps fuel ‘rapid financial growth,’ with 74% of enterprises using gen AI reporting ROI within the first year. Within that 74% of companies, 86% of them noted a 6% or more increase in revenue.

The report always touts gen AI’s ability to help companies ‘keep pace’. Eight-four percent of organisations can move a gen AI use from idea to production in less than six months. This enables CEOs to potentially see revenue increases within a year, and can significantly shorten the innovation cycle and enhance business agility.

With regards to enterprise-wide productivity, the report states that 45% of organisations that report improved productivity have seen employee productivity double or more as a result of gen AI, while 63% report that gen AI has directly driven business growth. Further, 85% of those who report an improved user experience also report measurable improvement to user engagement.

Carrie Tharp, VP of Global Solutions & Industries at Google Cloud, commented: “Executive-level support and strategic alignment are crucial. By connecting financial business drivers with technology drivers, organisations can ensure that AI strategies are not just innovative, but also tightly intertwined with core business goals.

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“This strategic alignment is the key to escaping the dreaded ‘pilot purgatory’ and accelerating towards tangible business impact.”

Seven Takeaways for your Organisation

Based on all the findings of Google’s global research, the tech giant suggests that seven priority areas have emerged.

1 – Build unified C-suite support

Establish a clear vision that articulates strategic goals, identifies use cases, and defines expected benefits and outcomes. Secure buy-in from your peers and appoint a senior leader who can champion gen AI adoption.

2 – Start with quick wins
Focus on use cases that directly address business needs, align with measurable goals, and can quickly deliver results – such as customer service and employee productivity.

3 – Focus on core areas of the business
For greater ROI, integrate gen AI into core operations, not just specific departments. Develop a strategy that aligns core business functions with technology implementation objectives.

4 – Keep a close eye on your data
Take advantage of readily available enterprise data to customise and deploy gen AI models more efficiently. Also, invest in ongoing data infrastructure and management.

5 – Invest in transformational projects
Move beyond short-term experimentation or pilot projects and prioritise business transformation.

6 – Build you AI talent
Consider the skills your employees need to develop and deploy effective gen AI solutions, and invest in recruiting, training, and developing these skills. Ensure you have the right capabilities and tools to enable employees across a wide range of AI skill-levels, such as agents with no code, low code and full code options.

7 – Aim to bolster enterprise security with gen AI
Invest in AI-powered security solutions that leverage machine learning to help identify threats, analyse vulnerabilities and automate responses.