What’s Your ROI?

Priya Lakhani

AI Business Strategist

Wondering if your AI tools are really delivering results? This Step shows you how to measure AI’s impact using six key metrics so you can make smarter decisions, maximise returns, and keep moving forward.

Integrating AI with Business Strategies

What’s Your ROI?

14 mins 50 secs

Key learning objectives:

Understand the importance of measuring AI impact
Learn how to measure ROI
Outline ways to optimise AI processes

Overview:

Measuring the impact of AI is crucial for any business that has implemented it. As Priya Lakhani explains, understanding your return on investment (ROI) is key to validating your efforts and guiding smarter decisions. In this Step, learners will explore how AI can improve productivity, reduce costs, increase revenue, and optimise processes, with continuous improvements being the end goal. Measuring results regularly helps businesses track success and adapt AI strategies effectively, ensuring long-term value for the company.

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Summary

Why is it important to measure the impact of AI?

Measuring the impact of AI is crucial because it validates your investment and ensures that your time and resources are delivering tangible benefits. By measuring impact, you can determine if your AI initiatives are yielding the expected results or if adjustments are needed. It also helps you make smarter decisions for future AI projects, by identifying what’s working well and what isn’t. Additionally, measuring the impact of AI builds confidence among stakeholders, fosters transparency, and facilitates continuous improvement.

How can you measure ROI from AI implementation?

You can measure the ROI of AI by tracking key metrics across six areas: productivity, cost efficiency, revenue growth, process optimisation, customer satisfaction, and decision-making improvements. For example, AI can enhance productivity by automating routine tasks - track how much faster tasks are completed or the increase in output. Cost efficiency can be measured by reductions in operational costs, such as labour or errors. Revenue growth is tracked by measuring sales increases or customer lifetime value from AI-driven improvements like personalised recommendations.

How can AI improve customer satisfaction?

AI enhances customer satisfaction by providing faster, more personalised services. To measure this, track Customer Satisfaction Scores and Net Promoter Scores before and after AI implementation. For example, an insurance company automating its claims process with AI can measure the reduction in processing time from weeks to days, as well as improved accuracy and satisfaction levels.

How can you optimise AI processes for continuous improvement?

AI helps identify inefficiencies and streamline workflows by analysing large volumes of data. Continuous improvement requires ongoing monitoring and refinement, using real-time data to make adjustments. To create a cycle of improvement, regularly collect feedback, conduct audits, and involve employees in the optimisation process.

The opinions and viewpoints expressed in this video are those of the creator and do not necessarily reflect the views of any affiliated organisations.

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Priya Lakhani

Priya Lakhani is a visionary entrepreneur, combining technology innovation with education. As the Founder and CEO of CENTURY Tech, she is at the helm of revolutionising learning through AI-powered tools that transform classrooms, universities, and workplaces. Her journey from barrister to business leader reflects her bold commitment to making a global impact. A decorated entrepreneur and adviser to the UK government, Priya has been recognised as Business Entrepreneur of the Year and awarded an OBE for her services to business and education. Co-founding the Institute for Ethical AI in Education, Priya continues to champion responsible AI, ensuring that technology benefits learners in an ethical and impactful way.

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