The question that a lot of companies have, is how to realize business value from AI. Obviously companies don't invest millions (billions) of dollars in artificial intelligence just to play around with LLMs. Companies need to quantify the business value they want to realize.
To get an answer to this question, you might want to take a look at the white paper Research paper - Artificial Intelligence and business value: a literature review (2021, Ida Merete Enholm, Emmanouil P., Patrick Mikalef and John Krogstie) which provides a framework for connecting AI with business value.
The white paper distinguishes between first and second order effects of GenAI. First order effects are the immediate, direct impacts of implementing Generative AI whereas second order effects are indirect, longer-term impacts that result from the first-order effects.
While first order effects (e.g. enhancing business decisions, increasing process efficiency and transforming business processes) are crucial for justifying the initial investments and demonstrating immediate ROI, second order effects (impact on operational and financial improvements, sustainability etc...) are essential for long term strategic planning and understanding the broader implications of Generative AI.
