Companies Rush to Adopt AI Without Monetization Plans
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AI is becoming a crucial tool for businesses to operate and compete. About 35% of companies now use AI in some form.
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Many companies are rushing to adopt AI like ChatGPT but have no monetization plan, losing money in the process.
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AI's strength is processing data faster and more accurately than humans. Companies can leverage this for customer service hyper-personalization to increase engagement.
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Three pillars for monetizing AI usage metering to track costs and revenue; pricing/forecasting to estimate usage and generate quotes; modern billing to invoice based on actual metered usage.
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Unlike previous AI hype cycles, generative AI is a transformative technology. Companies that don't adopt it risk disruption. Winners will be those with long-term monetization strategies.