In the fast-paced digital landscape, businesses are constantly striving for innovative solutions to gain a competitive edge. Azure AI, Microsoft’s artificial intelligence platform within its Azure cloud services, has emerged as a transformative technology revolutionizing industries worldwide.
Azure AI is a suite of AI services designed for developers and data scientists, providing them with the tools to build and deploy their own AI solutions. It offers high-quality pre-built AI models for vision, speech, language, and decision-making, accessible through simple API calls. Backed by Microsoft’s responsible AI principles, Azure AI enables users to leverage breakthrough research, flexible infrastructure, and ethical considerations to maximize the potential of AI technology.
Total Economic Impact™ (TEI) study conducted by Forrester Consulting, based on a composite organization and interviews with decision-makers from five companies, revealed an impressive 284% return on investment (ROI) achieved through Azure AI services. The study breaks down this significant number into tangible gains, with $12.6 million attributed to business growth and $16.1 million to spending optimization.
Image source: Microsoft
Azure AI services demonstrated potential returns in less than six months, owing to the platform’s highly accurate pre-trained models and seamless integration with other Azure and Microsoft Cloud products. Furthermore, Azure AI offers turnkey services that expedite specific tasks, such as Azure Form Recognizer, which empowers businesses to make documents intelligent and searchable, combining multiple AI skills with user-friendly deployment options.
The study also highlighted the transformative impact of generative AI, as businesses leveraging Azure AI experienced revenue growth from new products. This value compounded over the years, with $3.1 million in year one, $5.6 million in year two, and $6.9 million in year three. By embracing calculated risks and addressing unmet user needs, organizations unlock new opportunities for growth and success.
The study highlighted a common trend. It found that organizations that followed a well-structured pilot approach witnessed significant positive outcomes. By mapping the journey of these organizations, it was revealed that even with a modest team of just eight individuals, substantial benefits were realized. However, as the organizations progressed and expanded their efforts, the team size grew, further amplifying the financial gains.
With cloud computing cost savings and optimization complementing the benefits of AI, the partnership between businesses and Azure paves the way for adventurous and purposeful digital transformation. As industries reimagine their products and services, Azure AI continues to play a pivotal role, driving economic benefits, streamlining operations, and propelling businesses towards a prosperous future.
Access the full study here.
As the digital landscape evolves, Azure AI empowers businesses to unlock their full potential, enhance customer experiences, and make data-driven decisions, ultimately driving growth and success in an increasingly competitive world.