3 tips for making the right investments in AI

3 tips for making the right investments in AI

By Imprint Team

October 22, 2024
Human hand and robot hand fist bumping.
ROI-boosting insights from our AI Discovery Lab

More and more brands are investing in artificial intelligence (AI) solutions to stay competitive. From automating processes to enhancing content creation, AI promises significant benefits. As enthusiasm grows, so does the number of available tools, as well as the pressure to prove the return on investment (ROI). Marketers can struggle to identify the right technologies for them and feel confident it will deliver measurable business results.

In April, Imprint launched our AI Discovery Lab to do just that. An 8-person team has evaluated more than 50 tools and took nearly a dozen of them into robust testing over the last seven months. Below are three of the team’s biggest takeaways for marketers who are looking to take advantage of AI in their businesses:

Insight #1 – Standardize your evaluation process

One of the most important lessons we’ve learned at Imprint’s AI Discovery Lab is that evaluating AI tools takes time. Demos may look impressive, but they often only scratch the surface of the tool’s real-world capabilities. It’s essential to stress-test these platforms before making a final decision.

We’ve benefitted tremendously from formalizing our evaluation process, assigning roles within the team, and documenting our findings.

We also found that it’s important to ask plenty of questions at this phase to avoid surprises later. For example, sales reps may skim over certain limitations, such as restricted features or hidden costs that only emerge late in the sales process. Technological restrictions, licensing terms, and scalability are all critical areas that need to be scrutinized upfront.

We recommend digging deep during demos and pushing for full transparency on all aspects of the platform—and having a standardized evaluation process can help you do that. By taking a rigorous approach to AI evaluation, you can make smarter, more informed decisions that lead to better ROI.

Insight #2 – Testing an actual use case is crucial

Another valuable lesson we’ve learned is that you can’t truly evaluate an AI tool until you’ve tested it with real data in a controlled, real-world scenario. Demos are helpful, but they often don’t reflect how a tool will perform in practice. Testing AI tools with actual use cases is essential to determine their ROI potential.

For example, we tested an infographic tool that promised to expedite the design process. While the tool delivered on speed, it didn’t allow us the level of customization we needed to fit our specific project requirements. In another instance, we tested an LLM (large language model) to help us pull from archived files internally, and it actually was more helpful than we’d anticipated, which made the decision a no-brainer.

To get the most out of your testing phase, set up controlled experiments to assess the tool’s impact on efficiency, accuracy, and return on investment. Evaluate how well it integrates with your existing workflows and whether it can truly meet your organization’s needs before making a long-term commitment.

Insight #3 – Success can depend on change management AI

Successful AI adoption isn’t just about selecting the right tools—it’s about making AI part of a continuous change management effort within the organization.

At Imprint, we’ve found that building a successful AI strategy involves upskilling teams and fostering a culture that encourages exploration. It’s important to empower every team member to identify opportunities and bring insights back to the group. Generative AI can indeed transform your workflows, but it requires an environment where people are ready to innovate and adopt new processes.

By thinking about AI adoption as a team effort involving continuous learning, process integration, and change management, you can ensure that your investments in Generative AI—and AI in general—lead to impactful and lasting business results.

Evaluating ROI from generative AI platforms

For businesses interested in Generative AI tools, it’s essential to evaluate their ROI systematically. Here are a few areas you might focus on when measuring the value of Generative AI:

  • Time saved on content creation: Does the tool automate labor-intensive tasks, freeing up your team for higher-level work?
  • Impact on scaling creative processes: Can the tool help you scale up content production without sacrificing quality?
  • Increased engagement: Does the AI enhance your ability to deliver personalized content at scale?
  • Increased revenue: Are you able to offer new or improved products or services as a result?

By focusing on these areas, you can gauge how effectively Generative AI tools contribute to your overall ROI and make more informed decisions about where to invest.

Find a trusted partner

Investing in AI can be a game-changer for your business, but only if it’s done wisely. The insights we’ve gathered from Imprint’s AI Discovery Lab emphasize the importance of evaluating AI platforms carefully and ensuring they meet real-world needs before making significant investments.

Imprint’s AI Discovery Lab is fully equipped to help your team navigate this complex landscape and make informed AI investments that deliver tangible ROI.

Contact us here or send an email imprint@imprintcontent.com today to learn how we can help you harness the power of AI to drive smarter, more effective marketing strategies.

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