Measuring the ROI of Generative AI in Enterprise Applications
I had the privilege of presenting a webinar on a topic that’s becoming increasingly critical for enterprises: Measuring the ROI for Generative AI in Enterprise Research Applications. The session focused on how generative AI is transforming workflows, boosting productivity, and delivering measurable value in competitive and market intelligence.
The Growing Adoption of Generative AI
Generative AI adoption is accelerating across industries. According to Gartner, spending on generative AI will soon exceed all other software investments. This shift is driven by its ability to enhance productivity without displacing employees—empowering them to achieve more, faster, and with higher-quality results.
From Questions to Insights: The Power of Generative AI
Answering complex business questions lies at the heart of market and competitive intelligence. Generative AI is a game-changer in this regard. Imagine asking:
- “What partnerships has AstraZeneca announced?”
- “What are the main strengths and weaknesses perceived by customers regarding Verizon Fios?”
With traditional methods, a user might spend 80 minutes sifting through documents to find answers. Using generative AI, the same task could take as little as 20 seconds, producing comprehensive results and saving valuable time.
Quantifying ROI for Generative AI
During the webinar, I demonstrated a practical formula for measuring ROI:
- Number of annual searches × 20% (usage rate) × time saved per session × hourly rate
For a typical Northern Light customer with 50,000 searches annually, this equates to over $333,330 in time savings per year just from using the embedded Gen AI feature – AI Insights – to answer research questions. The ROI can be even greater for organizations with higher search volumes or specialized knowledge workers.
Beyond Cost Savings: Strategic Advantages
Generative AI doesn’t just cut costs—it enhances decision-making and boosts innovation. For example, a Harvard Business School study found that consultants using generative AI tools improved task quality by 40% and completed work 25% faster. These benefits underscore why early adoption is critical for staying competitive.
Why Now is the Time to Act
Generative AI is more than a technological trend; it’s a strategic imperative. Organizations that integrate these tools into their workflows not only save time and money but also position themselves as leaders in their industries. As McKinsey noted, marketing, sales, and R&D functions are among the biggest beneficiaries of generative AI, with potential productivity gains of up to 15%.
A Look Ahead
At Northern Light, we’re committed to helping organizations realize the full potential of generative AI. Our SinglePoint platform is designed to integrate AI seamlessly, making it easier for businesses to harness these tools and achieve measurable results.
For more insights or a deeper dive into the ROI of generative AI, feel free to reach out to me at sheri@northernlight.com.
You can request the recording and slide from Northern Light.