W. Raghupathi, professor of information, technology, and operations, said the benefits of artificial intelligence are still difficult to measure. Read more in When Will AI’s Rewards Surpass Its Risks?
“Introducing new technology is always a major challenge in any organization, and AI is pretty complex,” W. Raghupathi, professor at Fordham University’s Gabelli School of Business, told Forbes. “The scale, complexity and difficulty in implementation and deployment, the upgrades, support, etc are technology-related issues. Further, privacy, security, trust, user and client acceptance are key challenges. Justifying the cost — and we do not have good measurement models — is a major challenge.”
It’s likely even too soon to tell whether the rewards of AI are outweighing the risks, Raghupathi states. “There is a lag between deployment of applications and their impact on the business. Specific applications like low-level automation find success but high-level applications that support strategy are yet to translate into tangible benefits.”
It’s going to take time — perhaps years — “to assess the impact and benefits of complex applications versus simple applications automating specific routine and repetitive tasks,” Raghupathi points out. “Measuring the benefit is new and we do not have benchmarks or quantitative models.”
