Measuring GenAI ROI — Insights from CDO Magazine’s Boston Boardroom Dinner

Top Boston data and AI leaders from financial services, life sciences, manufacturing, and retail got together at CDO Magazine’s Executive Boardroom Dinner on September 26 to gauge the impact of generative AI, with a focus on ROI and business alignment.

The event featured a panel discussion on "AI Unleashed: Harnessing Generative AI Technology for Tangible Returns." The panelists discussed the maturity and ROI of GenAI initiatives given the complexities of implementing AI solutions in various organizational contexts and the ongoing challenges associated with measuring impact.

The panel of experts were:

• Justin Heller, Synchrony Bank SVP, Chief Data Officer

• Cliona Molony, IDEXX Chief Data Officer, VP R&D

• Snimar Chhabra, Eversource Energy Director, Enterprise Data & Advanced Analytics

The discussion was moderated by Gwen Hahn, Lydonia VP, Client Success and Advisory Services.

Speaking about managing ROI expectations of AI investments, Heller says: “It’s critical to take a test-and-learn approach to validate any ROI assumptions before committing. We need to be mindful that not only can AI add value but the people using the AI have value as well. We need to continue to prioritize upskilling our talent.”

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Speaker Molony thanks CDO Magazine for “bringing together CDO and AI leaders on GenAI and ROI.” She adds that “speakers and attendees shared insights on engaging and launching GenAI initiatives with strong principles while still supporting strategic business goals in highly regulated industries and in fast developing technology companies. Other topics raised explored the adaptability of GenAI solutions grounded with ROI and the impact of GenAI as a productivity enhancer versus novel innovation.”

According to panelist Chhabra, “It was great to hear from leaders across industries on how they approach AI and GenAI.”. Her key takeaways were:

• “There are many tools in our toolkits and GenAI is one of them. Finding the right solution is paramount.

• As with any investment, gaining cross-functional buy-in is critical for a successful outcome. Driving towards a better customer and employee experience was a common use case across several industries. I was inspired by several healthcare leaders driving innovation targeted at bettering health.

• The energy industry has a unique role to play in the GenAI advent, both internally as an organization driving value generation through GenAI, and also with sustainability and the impacts of GenAI on our electric grid.”

Bhagyesh Phanse, Starbucks VP, Analytics & Data Science, adds that the panel discussion on GenAI ROI and maturity provided an opportunity to hear diverse perspectives from various industry professionals. “It highlighted the complexity of implementing GenAI solutions across different organizational contexts and the ongoing challenges in measuring their impact. Inspiring!” he says.

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Jane Chen, Analog Devices Sr. Director, Growth Analytics, Revenue Strategy & Operations, thanks CDO Magazine “for organizing such a wonderful and insightful evening at the CDO Magazine Boardroom Dinner. It was a pleasure to connect with fellow leaders and gain valuable perspectives on the rapid acceleration of generative AI applications.”

Sharing her “favorite quote” from the event “about the impressive speed of progress,” Chen says, “‘The first project took six months, and the second project only four weeks.’ It’s amazing to see how quickly innovation can evolve!”

Veronika Durgin, Saks VP, Data, mentions that the CDO Magazine Boston Executive Boardroom Dinner provided “nutrition both for body and mind.” Durgin elaborates:

• “Comfort food for the mind: The panel of data leaders from diverse industries was as educational as it was reassuring. Regardless of a company's risk tolerance for AI solutions, each leader emphasized the importance of aligning with business objectives and focusing on reducing time to value.

• Spicy food for thought: The conversation around the table turned a little spicy when discussing AI in healthcare. AI doctors are statistically more likely to provide accurate diagnosis and treatments than human doctors. But is the statistically best treatment the right one for each patient? Will we still need human doctors to understand each patient and their individual needs?

• Delicious food: The organizers and sponsors did an outstanding job making everyone feel welcome and well-fed.”

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“We are honored to bring together such a high caliber of data executives at our Executive Boardroom Dinner. Events like these are crucial in fostering meaningful conversations around the evolving landscape of AI and data, allowing us to collectively explore new strategies and insights that drive impactful business outcomes,” says Camille Prado, CDO Magazine Global Editor.

Moderator Hahn sums up the event saying, "Many thanks to CDO Magazine for hosting and facilitating a great event. Times are certainly changing and it is more important than ever to collaborate and share ideas and insights with colleagues and peers. Today's landscape of AI, automation, data and security is moving quickly, but having peers and partners you can count on, will pave the obvious road to success."

Special thanks to Lydonia for making the CDO Magazine Executive Boardroom Dinner such a resounding success.

Justin Heller, Cliona Molony, Snimar Chhabra, Bhagyesh Phanse, Jane Chen, and Veronika Durgin, are members of the CDO Magazine Global Editorial Board.

Executives attending the Boston Executive Boardroom Dinner included: 

Jane Chen, Analog Devices Sr. Director, Growth Analytics, Revenue Strategy & Operations; Snimar Chhabra, Eversource Energy Director, Enterprise Data & Advanced Analytics; Chathuri Daluwatte, AstraZeneca Head, AI Diagnostics (Alexion AstraZeneca Rare Disease); Veronika Durgin, Saks VP, Data; Justin Heller, Synchrony SVP, Chief Data Officer; Jacob Hesterman, Ratio Therapeutics Chief Data Officer; Cliona Molony, IDEXX Chief Data Officer, VP R&D; Bhagyesh Phanse, Starbucks VP, Analytics & Data Science; Brian Rotondo, The TJX Companies VP, Data & Analytics; Lihua Yu, LifeMine Therapeutics Chief Data Officer; Isabella Calcagno, Lydonia Marketing Specialist; Todd Foley, Lydonia CDO/CISO; Gwen Hahn, Lydonia VP, Client Success and Advisory Services; Charles Kwolek, Lydonia Regional VP, Sales; Jack Scannell, Lydonia Account Executive; Camille Prado, CDO Magazine Global Editor; Lisa Runkle, CDO Magazine Global Event Manager.