The ROI calculation misses the defensive value of AI capex. These investments aren't just about generating returns 'above existing growth', they're table stakes to protect existing revenue from AI-native competitors who would otherwise cannibalize the core business.
The ROI calculation misses the defensive value of AI capex. These investments aren't just about generating returns 'above existing growth', they're table stakes to protect existing revenue from AI-native competitors who would otherwise cannibalize the core business.