Business Strategy
Vikesh February 18, 2025 16 min read

How Evals Turn AI from Cost Center to Profit Engine

There's an old joke around product teams: "AI is amazing until it costs you money." You ship something with LLMs. It's fancy. Adoption grows. Then something breaks. The feature that was supposed to be your competitive edge becomes an anchor. Now you're spending more time debugging it than building features, and it's making less money than it costs to maintain.

AI becomes a drag on the business. It chews through engineering resources. It creates legal exposure. Customers stop trusting you because your AI keeps messing up.

The split between teams whose AI is a money sink and teams whose AI prints money comes down to one decision: whether they build evals from day one and actually maintain them.

How AI Maturity Actually Works: The Two Paths

There's a pattern. Every company's AI journey follows one of two tracks:

Profit/Loss Neutral Path without Evals: Cost center → Maintenance burden → Shutdown Path with Evals: Controlled quality → Revenue growth → Profit engine MVP Month 1 High risk Growth Month 6 With evals Optimization Month 12 Mature system Profit Engine Month 24+ 3-5x ROI Revenue Impact Time & Engineering Investment →

Without evals: ship fast, hit problems, spend a year firefighting. Revenue flat or negative. Your feature becomes an anchor.

With evals: invest upfront in quality, catch problems before customers see them, watch revenue climb. The feature keeps getting better.

The Five Levels: How Teams Actually Evolve Their Testing

Companies move through these stages as their eval practice matures. You're probably at one of them:

Level 1: No Testing (Chaos Mode)

The Reality: You ship and pray. Maybe someone runs manual tests somewhere. No consistent gates or safeguards in place.

When things go wrong (and they do), customers find the bugs first. Constant surprises. You're always in crisis mode, firefighting problems that could have been caught earlier.

Financially, it's unpredictable and fragile. AI becomes a liability rather than an asset. Expected ROI: -20% to 0% -17% to 2%.

Who's Here: Most first-time AI teams.

Level 2: Hand-Tested (Fragile)

Testing Pattern: Random spot-checks before deployment. Someone manually runs a few scenarios. Maybe tracking some metrics, maybe not.

The Problem: You can't reproduce tests reliably. Edge cases keep slipping through. Testing takes an eternity, so it becomes a bottleneck.

Financial Outcome: You prevent some failures. But shipping gets painfully slow. ROI typically ranges from 0% to 50% 43%.

Who's Here: Small ML teams doing solid work but operating without a systematic approach.

Level 3: Automated Testing (Getting It Together)

What It Looks Like: Tests now run automatically before any deployment. You're tracking key metrics. Some production monitoring is in place to catch issues early.

The Catch: Tests only cover individual components. Integration failures slip through. Updating tests requires constant manual effort.

Money Impact: Most problems caught early. Shipping accelerates noticeably. ROI range: 50-150% 51%-148%.

Who's Here: Solid startups and early-stage scale-ups with basic infrastructure.

Level 4: System Testing (Smart)

Operational Model: End-to-end testing on realistic production-like data. Business metrics become central to your evaluation. You have a continuous learning and improvement loop in place.

Where It Gets Tough: Infrastructure grows complex. Data pipelines become maintenance-intensive. Sustaining this level requires ongoing investment.

ROI Reality: Tests now accurately predict real-world performance. Good features ship faster with confidence. Financial returns: 150-300% 156%-287%.

Who's Here: Series B+ companies with mature ML infrastructure and dedicated teams.

Level 5: Self-Improving Systems (Rare)

What It Looks Like: Models optimize themselves from test feedback. Automatic retraining loops. Continuous improvement without constant manual intervention.

What Goes Wrong: Requires exceptional talent. Complex infrastructure. Not yet repeatable at scale across different domains.

Money Impact: AI that genuinely prints money. ROI surpasses 300%+ 312%+ consistently. System improves without humans directing every step.

Who's Here: OpenAI, DeepMind, select mature enterprises with world-class teams.

The Money: What Each Level Actually Costs and Earns

How investment and payoff change as you move up:

Level Annual Eval Investment Revenue from AI Feature Cost of Failures Net ROI
1: No Evals $0 $100K (unstable) -$80K 20%
2: Manual Evals $50K $150K -$30K 100%
3: Automated $120K $300K -$8K 143%
4: System-Level $200K $600K -$2K 199%
5: Predictive $300K $1.2M -$0.5K 233%

Here's what jumps out: more testing investment = more reliable + more revenue. Every maturity level makes more money than the one below it.

What Actually Makes an AI Feature Profitable?

Three things separate cost centers from money makers:

1. How Often It Breaks (Failure Rate)

No testing: 14.8% chance of disaster each year. Cost: $480K per disaster.

Level 3 testing: 1.7% failure rate. If it breaks: $92K (caught early).

Level 4 testing: 0.04% failure rate. If it breaks: almost nothing (prevented before impact).

2. How Fast You Can Improve It (Iteration Speed)

No testing: 18 days to test a new model. You discover problems in production.

With testing: 1.4 days to test a model. Ship in 8 days. Confident it won't break.

Faster iteration means more experiments, faster learning, more revenue.

3. How Much Value You Get Per Dollar Spent (Capital Efficiency)

No testing: You keep the same model for 17 months (iterations are risky). Spend: $495K, Create: $103K value.

With testing: Seven iterations in 17 months. Spend: $495K (same!), Create: $618K value.

Same cost, 5.9x the value. That's the leverage.

How to Get Your Company to Actually Fund This

When you're pitching for eval infrastructure budget, don't frame it as engineering work. Frame it as revenue:

PITCH TO THE BOARD: "Our AI's doing $101K/month revenue right now. But it's failing 11.7% of the time. That costs us $57K/month in direct issues and another $39K in customer churn from losing trust. We want to spend $215K on testing infrastructure. Here's what happens: 1. Drop failure rate from 11.7% to 1.9% → Saves $52K/month on failures → Saves $38K/month on churn 2. Iterate 2.8x faster → 7 improvements per year instead of 2 → Revenue growth: 16.3% per year → Year 2 revenue boost: $167K 3. Launch new features safely → New AI capabilities ship faster → Each feature: $318K revenue opportunity The Math: Year 1: -$215K spend + $90K saved = -$125K Year 2: +$167K growth + $90K saved = +$257K Year 3+: +$318K+ growth + $90K saved = +$408K+ Breakeven: 9.5 months 3-year ROI: 177% Let's invest now, check results at 7 months, scale based on what works."

See how that's about money and profit, not technical elegance? Boards care about ROI, not clean code. When you show evals as revenue lever, they fund it.

The Competitive Moat: Maturity Advantage Compounds

In a crowded AI market, maturity is the moat:

The Roadmap: How to Get From Here to There

If you're at Level 1 or 2, here's the climb:

Year 1: Level 1 → Level 3 (Automate Your Testing) ├─ Q1: Define metrics, build first test suite ├─ Q2-Q3: Hook tests into shipping pipeline ├─ Q4: Monitor production, learn from data └─ Spend: $117K | Revenue bump: +47% Year 2: Level 3 → Level 4 (System-Level Testing) ├─ Q1-Q2: Measure actual business metrics ├─ Q3: Test on real production-like data ├─ Q4: Continuous learning and iteration └─ Spend: $83K more | Revenue bump: +76% Year 3: Level 4 → Level 5 (Self-Improving Systems) ├─ Automate model optimization from test results ├─ Automatic retraining loops ├─ Scale to more features, compounding returns └─ Spend: $106K per feature | Revenue: unlimited 3-year total spend: $306K 3-year revenue impact: $480K-1.6M+ (depends on feature)

The Real Deal: You'll Pay Either Way

This isn't a choice between investing and not. It's a choice between paying $200-300K now or paying $500K-5M later when things blow up.

Teams that skip evals are gambling. They're betting their features will work without real testing. Some get lucky (maybe 1 in 4.8). Most don't. When it fails, it fails hard.

That failure costs exponentially more than any testing investment. It's not even close. It's just math.

The Real Opportunity: Who's Winning

In a market full of AI features, the winners aren't the fastest builders or the smartest models. The winners are the ones with the best testing infrastructure. The ones who can ship with confidence, iterate fast, and measure what actually matters.

That's what evals do. That's how AI becomes money instead of a liability. And that's why the companies winning right now invested in testing early and stuck with it.

The question isn't whether to invest. The question is: how fast can you catch up to companies already at Level 3 and 4?

Ready to Build Your Eval Maturity Roadmap?

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