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Methods for Evaluating the Cost-Effectiveness of Using AI for Production Automation

In: Digital Transformation in Industry

Author

Listed:
  • Maksim Vlasov

    (Ural Federal University
    Institute of Economics of the Ural Branch of the Russian Academy of Sciences)

  • Anna Lapteva

    (Ural Federal University)

Abstract

The analysis of publications revealed a lack of research on assessing economic indicators when introducing artificial intelligence into technological and production processes. In this regard, the authors aim to find and analyze published methods for assessing the economic effectiveness of automation of production processes using AI. It is rather difficult to evaluate the cost-effectiveness of AI introduced into production for the purpose of automation. Artificial intelligence in automated process control systems is a competitor to deductible means that are the basis of such systems. AI allows improving the quality of a number of functions performed by these means, for example, enhancing the quality of regulation. This, in turn, leads to a rise in the quality of products. However, it is challenging to assess in advance how this event will affect the profitability from the sale of these products. The article developed a methodology for assessing the economic effectiveness of the AI introduction.

Suggested Citation

  • Maksim Vlasov & Anna Lapteva, 2023. "Methods for Evaluating the Cost-Effectiveness of Using AI for Production Automation," Lecture Notes in Information Systems and Organization, in: Vikas Kumar & Grigorios L. Kyriakopoulos & Victoria Akberdina & Evgeny Kuzmin (ed.), Digital Transformation in Industry, pages 281-296, Springer.
    • Handle: RePEc:spr:lnichp:978-3-031-30351-7_22
    DOI: 10.1007/978-3-031-30351-7_22
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