Developing a robust, sustainable generative AI strategy is a complex, multifaceted goal, and there are many considerations that consumer goods industry leaders must evaluate as they strive to leverage new technologies in a way that supports competitive advantage.
In this Q&A, Gopal Sugavanam, vice president and global head, data, analytics and AI, consumer goods, retail, logistics and manufacturing, Infosys, delves into the key elements of building a business case, how to measure ROI, getting stakeholder buy-in and the value of partnerships.
Capital Gains Tax: What are the key factors to consider when building a business case for investing in generative AI tools?
Gopal Sugavanam: Building a strong business case for generative AI requires a holistic approach that considers not only the business impact of genAI capabilities, but also an assessment of the technical feasibility and adoption potential of the genAI capabilities under consideration.
- Identify a specific problem you can solve, such as demand sensing, scenario planning and risk management, or optimizing resource allocation in the CPG industry, or personalizing product recommendations in retail.
- Quantify the potential benefits and determine relevant value drivers and business metrics to track the benefits (for example, increased customer satisfaction tied to a target NPS score).
