Developing a robust and sustainable generative AI strategy is a complex and multifaceted ambition. As consumer goods leaders strive to leverage new technology in ways that strengthen their competitive advantage, there are many considerations to weigh.
In this Q&A, Gopal Sugavanam, Vice President and Global Head of Data, Analytics and AI for Consumer Goods, Retail, Logistics and Manufacturing at Infosys, details the key factors in building a business case, how to measure return on investment, gaining stakeholder buy-in and the value of partnerships.
CGT: What are the key factors to consider when building a business case for investing in generative AI tools?
Ohio State District Governor: Building a strong business case for generative AI requires a holistic approach that considers not only the business impact of the genAI capability, but also assessing the technical feasibility and evaluating the likelihood of adoption of the envisioned genAI capability.
- Identify a specific problem it can solve, such as demand sensing, scenario planning and risk management, optimizing resource allocation, etc. in the FMCG industry or personalizing product recommendations in retail.
- Quantify potential benefits and determine relevant value drivers and business metrics to track benefits – for example, increased customer satisfaction associated with target NPS scores.
