What are some examples of business value creation through AI/Machine Learning?

M has been useful to monitor business operations and for anomaly detection. AI in general is being used for productivity gains and core business processes where there are less ethical concerns. Yet to see significant business value generation for core critical processes.

In legal I would add: Risk management and compliance

AI and Machine Learning create business value across growth, cost, speed, experience, and risk. On the revenue side, they enable personalized recommendations, dynamic pricing, lead scoring, churn prediction, and demand forecasting that improve conversion rates and revenue predictability. For cost reduction and efficiency, intelligent automation, AI-powered Service Desks, fraud detection, and predictive maintenance reduce manual effort, operational losses, and downtime. Productivity gains come from copilots for knowledge workers, automated decisioning, intelligent search, and Retrieval-Augmented Generation systems that significantly reduce time spent on analysis and information discovery. Customer and employee experience improves through conversational Artificial Intelligence, sentiment analysis, journey optimization, and self-service assistants. From a risk and compliance perspective, anomaly detection, cybersecurity threat detection, automated compliance monitoring, and explainable credit and risk scoring reduce exposure and improve governance. At a strategic level, Artificial Intelligence and Machine Learning enable better decision making through predictive analytics, scenario simulation, and root cause analysis, while also unlocking innovation through AI-enabled products, new digital business models, scalability without linear cost growth, faster time-to-market, and continuous learning systems that compound value over time.

For an experiment, MLmight help you review your current data and build a model that could reveal hidden business value you may not have realized existed. Beyond that, you could use small-scale predictions with machine learning. If you have large amounts of data, you may benefit more from deep learning and LLM models.

From my point of view, although I am not yet an expert, I believe you should work with an AI consultant who understands your organization’s strategy and vision, analyzes your current business domain, identifies gaps, and proposes use cases that demonstrate how AI can truly create business value. Remember, AI is an automation and business-boosting empowered, not a replacement for employees.

NLP (Natural Language Processing) to categorize unstructured spend data (invoices, contracts) and ML to predict future supplier costs or identify "maverick spend" before it happens.