In an increasingly competitive business environment, leaders must justify their investments in technology and talent through robust financial metrics. The combination of humans and artificial intelligence (Human+AI) is one area that requires careful evaluation to ensure a tangible return on investment (ROI).
In the fintech sector, where speed and precision are critical, implementing AI solutions can accelerate project delivery and improve productivity. However, it's crucial to modernize systems to leverage real-time data and avoid letting hype obscure hidden costs, such as training and upskilling personnel.
Market reports and analyses emphasize the importance of establishing business-relevant KPIs (key performance indicators). Yet, a recent study reveals that only 41.9% of finance teams use defined KPIs, generating uncertainty about the scalability of Human+AI investments.
To address this challenge, leaders should focus on key financial metrics, such as:
• Cost savings: evaluating the savings generated by automating processes and optimizing resources
• New revenue streams: identifying opportunities to generate additional revenue through AI solutions
• Time-to-value: measuring the impact of speed and efficiency on project and service delivery
By prioritizing these metrics and establishing clear KPIs, leaders can justify their Human+AI investments and ensure their organizations are well-positioned to capitalize on market opportunities. The key is to focus on tangible results and avoid getting caught up in the hype surrounding technology.
In summary, combining humans and AI is an opportunity to improve productivity and efficiency in the fintech sector. By focusing on robust financial metrics and establishing clear KPIs, leaders can ensure a tangible ROI and drive their organizations towards success.
January 12, 2025
