SourceThe search multiplier: Driving revenue, productivity, and AI at scale
Businesses can launch AI tools like customer service chatbots or fraud detection 40% faster, reducing time to market. This efficiency saves employees an average of 150 hours per year through more accurate internal search.
- IDC interviewed 11 large enterprise customers across financial services, healthcare, retail, and government with average annual revenue of $15 billion.
- Calculated a three-year discounted benefit of $31.2 million per organization against $5.06 million in investment costs, achieving an 11-month payback period.
- Organizations reduced time to minimum viable AI products by 40% (nearly eight weeks faster) and accelerated AI product updates by 35%.
- Participants reported a 44% improvement in search relevance, 27% higher development team productivity, and 150 hours saved per employee annually.
- The Elasticsearch Platform unifies vector search, semantic search, hybrid search, Jina AI models, and context layers with integrated RAG capabilities.