PYMNTS’ Post

Why Measuring the ROI of Transformative Technology Like GenAI Is So Hard

🚀 Exciting times in the tech world as companies like QXO are making bold moves with significant investments in technology to drive efficiencies and growth. For small businesses, this isn't just news—it's a playbook! 📈 Digitizing operations is no longer a futuristic option; it's a vital strategy to remain competitive and resilient. As we witness the transformation of industries like building products distribution, the message is clear: adapt or be left behind. 👉 Whether it's leveraging AI or enhancing your financial planning systems, now is the time to harness the power of technology. Remember, it's about more than just survival—it's about thriving in a rapidly changing business landscape. 🔗 Want to know how to align your small business with these cutting-edge strategies? Let's connect and discuss how I can help your business navigate and succeed in this digital era. #BusinessTransformation #DigitalInnovation #SmallBusinessGrowth #AI

Opinion: Artificial intelligence software spending is projected to surge to $297.9 billion by 2027, putting pressure on companies to show a good return on investment with the technology. The CFO and Chief Revenue Officer are a "crucial duo" when it comes to successfully launching AI-enabled products that create real value, MinIO CFO Mark Khavkin writes. #artificialintelligence #ROI #chiefrevenueofficer #valuecreation https://lnkd.in/ekW4Fr9x

Bain’s 2024 Technology Report has arrived. In this report, my colleagues explore the current state of the #tech landscape, from the top functions where AI is already delivering to investor perspectives and strategies for thriving as the software cycle slows, and more. https://bit.ly/3Bm6F2X

How generative AI is transforming the private equity landscape

As part of our Investor Roundtable, we asked Volition Capital Vice President, Kyle Howard-Johnson, "What sectors or areas currently excite you from an investment perspective? Where do you think the best opportunities currently lie?" Here was his answer: "There are currently two areas that jump out to me in terms of which industries I am most excited about: Data Infrastructure & Vertical SaaS. From a Data Infrastructure perspective, as we enter this new world of AI-enablement, data has emerged as one of the key inputs and differentiators when training the underlying models. In order for models to function properly, they need to incorporate the necessary data, which requires companies have access to their data in a consumable format. Establishing a common data model that spans applications and systems used by enterprises will allow for the necessary context to unlock effective AI use cases. I am specifically intrigued by companies not only helping others build and deploy this infrastructure but also those actively leveraging them with valuable underlying data assets. Building off of the first point, Vertical SaaS companies have highly relevant, industry-specific data that creates a barrier to entry and unlocks AI capabilities for end customers/consumers. I’m interested in Vertical Saas companies that have been collecting market-specific data for years and are looking to leverage this to extract insights from the data and create value for end-users." Link to read the entire Investor Roundtable: https://lnkd.in/e3zxenFh

GenAI continues to receive hype about its potential for businesses. With companies grappling with the challenges this emerging technology presents, KPMG recently engaged with CIOs to discuss the opportunities and obstacles they face when implementing GenAI. Dive into our latest report "Voice of the CIO" to understand how GenAI is being adopted and where the future of this technology is headed. Download today to gain insights on GenAI adoption, data governance, and budgeting challenges. https://lnkd.in/gz86jF7Y

Lydonia Technologies is proud to share that we have been named the 3rd Fastest-Growing Private Company in Massachusetts by the Boston Business Journal. This exclusive 2024 Fast 50 list recognizes the 50 fastest-growing private companies in Massachusetts and are selected and ranked based on revenue growth from 2020 to 2023. “Lydonia Technologies is rooted in Boston, and our growth reflects our team’s talent and commitment. Our dedication to transforming businesses through AI-powered automation, data, analytics, and security has driven our rapid success,” said Kevin Scannell, Founder and CEO of Lydonia Technologies. “We’re enriching the local economy and fostering opportunity in the Greater Boston Area. I’m immensely proud of our team for making us one of the fastest-growing private companies in Massachusetts. This recognition by the Boston Business Journal reaffirms our commitment to excellence and innovation.” Read the full press announcement - https://hubs.ly/Q02xN4zT0 #Hyperautomation #Automation #AI #Analytics #Data #Security #GoLydo

Scaling GenAI for Maximum Impact in Financial Services. Key takeaways: 1.    GenAI is a generation leap in technology. It will define how we approach and use technology for the next two decades. 2.   Use cases add up very quickly, ending up with many use cases that do the same thing in different parts of the organization. 3.   The risk of get stuck with a “proof-of-concept-to-death” mentality and struggle to scale it or embed it into business processes, which is where the true value comes from. 4.   Emphasizing capabilities creation over solving for specific use cases can enable scaling on an industrial level. 5.   Think big (build the right foundations and transform the way you operate); Start small (prioritize by selecting high-value practical use cases); Act Fast (build GenIA capabilities that can scale across the organization). 6.   A) Move to an enterprise flexible GenIA platform and allow broad use cases; B) move away from use case ideation to prioritization; C) develop a scale roadmap with MVPs to a richer value-added solutions.   Find out more in our Deloitte and Google Cloud's report: bit.ly/scaling-genai #banking #insurance

Bain’s 2024 Technology Report takes a deep dive into the current state of the #tech sector. Covering everything from AI’s biggest wins in key functions to investor outlooks and strategies for weathering a slowing software cycle, this report equips leaders with the insights they need to stay competitive. As the AI era continues to evolve, explore the findings that could reshape your approach to tech. https://bit.ly/47Q73CP