The Age of AI: Understanding the ROI of Enterprise AI

Introduction

• Host: Shelley Kramer, Principal Analyst at Kramer and Co.
• Guest: Luke Banky, Head of Product at Grammarly.
• Topic: Achieving Return on Investment (ROI) from Enterprise AI.

Importance of Communication in Business

• Businesses operate heavily on communication.
• 88% of workweek is spent on communication across various channels (sales, marketing, HR, etc.).
• Effective communication is critical for business success.

Challenges in Measuring AI Impact

• Difficulty in quantifying the impact of AI tools on business outcomes.
• Grammarly developed the Effective Communication Score and ROI Report to measure communication value.

Luke Banky's Career Background

• Started as an engineer, worked in the Bay Area.
• Experience in startups and companies like Zenes (customer support software).
• Prior to Grammarly, worked at Ironcloud (contract lifecycle management software).

Evolution of Technology and AI

• Witnessed evolution from email, cloud computing, mobile, to AI.
• AI is not new, but current generative AI capabilities are groundbreaking.

Communication Challenges in Enterprises

• Leaders often unsure about the effectiveness of their organization's communication.
• Overwhelming number of apps and communication tools.

Grammarly’s Role in Enhancing Communication

• Acts as a strategic writing partner.
• Helps with grammar, clarity, conciseness, and inclusivity.
• Supports communication across 500,000+ apps and websites.

Customer Perspectives and Challenges

• Many individuals don’t consider themselves great communicators.
• Grammarly helps improve communication for customer support, marketing, etc.

Solutions and New Tools

• Effective Communication Score: Benchmarks organization’s communication effectiveness.
• Allows comparison with industry peers and measures communication across various dimensions.

ROI and Impact Assessment

• Grammarly Impact Assessment: Offers A/B testing for measuring Grammarly’s impact.
• Tests show improvements in customer satisfaction scores, communication efficiency, etc.

Real-world Applications

• Successful deployments in customer support teams leading to better customer satisfaction and communication efficiency.
• Marketing teams benefit from ensuring on-brand and effective communication.

Future of Enterprise AI Tools

• Focus on measuring ROI and proving value before wide adoption.
• Grammarly’s role in leading the AI Agent and application space.

Recent Developments

• Coda Acquisition: Combines effective communication with AI-powered productivity.
• Enhances Grammarly’s capabilities in AI agents and applications.

Conclusion

• The emphasis on moving beyond the general AI conversation to measuring impact.
• Exciting prospects with the Coda acquisition for improving business communication and productivity.
• Encouragement to subscribe and stay updated with upcoming episodes.