CIO Mind, The Gartner CIO Podcast How to Calculate the Costs and Prove the Business Value of GenAI
17 snips
May 28, 2024 Rita Sallam, Gartner Distinguished VP Analyst, and former CFO, discusses proving GenAI's value beyond immediate financial returns. Topics include projecting costs, managing budgets, measuring ROI, and convincing CFOs of GenAI's value beyond the balance sheet.
AI Snips
Chapters
Transcript
Episode notes
Rita Sallam's First GenAI Wow
- Rita Sallam was amazed by ChatGPT's creative power and accessibility, showing generative AI's ubiquity.
- She gave examples from co-pilot within Excel to drug discovery to show transformative use cases.
Comprehensive GenAI Cost Factors
- Estimate generative AI costs by use case, deployment approach, and include governance, model tuning, cloud, and change management.
- Prepare data well and manage variable API usage and token costs carefully to control expenses.
Strategies to Control GenAI Costs
- To manage GenAI costs at scale, simulate usage scenarios and estimate cost ranges.
- Use model choices, prompt templates, governance, and user training to control costs and optimize deployment.