July 8, 2021

Report: Enterprise AI Gives Average Profit Boost of 10%

Enterprise AI
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Enterprise AI is no longer the future, it’s a practical tool for any company who wants to identify opportunities that their competitors are unaware of. AI doesn’t just solve tech problems, the most valuable use of it is in cracking business challenges. It can be used to addresses almost any problem business leaders are trying to solve. 

Some of the goals for the use of AI can include finding the key to accelerated growth, making use of the latest innovation, optimising resource costs and ROI, and future-proofing the company. 

McKinsey & Company report that organisations that are heavily committed to AI, are generating up to 10% more profit compared to those that are not. Revenue increases from adopting AI are reported most often in marketing and sales, with decreased costs of more than 10% and revenue uplifts of more than 6%. 

What Are the Practical Ways in Which to Use AI? 

Every company sits on a mountain of data from various sources. How valuable your data is for you, depends on how mature your data strategy is. AI finds previously unavailable insight for better decision-making. Data and AI work hand in hand with your company’s strategy to achieve optimised operations. 

Gartner report the benefits of AI in driving customer-acquisition: “Modern marketers are becoming well-versed in AI’s efficacy in driving revenue and profit, with 62% of modern marketers now planning or actively experimenting with AI solutions.” 

This 62% is in addition to those who have already moved on from experimentation to setting AI as a permanent building block of the marketing strategy. If you’re in the minority that don’t use AI, it may be due to a lack of knowledge on the options. You shouldn’t let lack of knowledge determine where your marketing function stands against competitors. 

One of the instantly accessible ways to use AI is to utilise a ready-made product such as Synetec AI, which has given an average return of 150% across all users. Comic Relief have reported an improvement of 660%. ESET also achieved 178% marketing-to-revenue increase.

With these figures in mind, it’s easy to see that the average 10% profit boost McKinsey are reporting, is well within your reach.

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