I asked 4 executives how they measure AI ROI. None started with AI tokens.

• Silicon Valley has started reassessing whether higher token use actually boosts productivity.
• Business Insider asked four executives how they measure AI ROI at Mistral AI’s summit in Paris.
• They said they focus on business outcomes, not how many tokens employees consumed.

Meanwhile, OpenAI, Anthropic, and GitHub have all moved toward usage-based pricing for businesses, putting more pressure on employees at customer companies to prove that higher AI usage is delivering meaningful returns.

The shift away from tokenmaxxing doesn’t mean companies have stopped tracking AI token usage.

Holive said his team at BNP Paribas CIB continues to monitor token consumption to control costs and measure adoption.

But the executives I spoke to in Paris all appeared to agree on one thing: while tokens may tell you how much AI is being used, they don’t necessarily tell you whether it’s yielding a tangible return on investment.