There is a truth that occupies this space between the understandable present-day excitement around GAI and the fact that AI and ML have been aiding the transformation of modern businesses for some years. It is that while there is an urgency in companies getting to grips with the potential of GAI, its successful adoption depends on getting the fundamentals of business vision, strategy and technology integration correct from the outset. Generative AI represents the next wave of technology with the potential to unlock dramatic business efficiencies and outcomes and to create new digital products, services and experiences. It enables organisations to leverage data in ways previously not possible; to generate operational efficiencies at scale; and gain competitive advantage through customer cognition, increased personalization, and creative new approaches to content. This power that GAI has sits atop the advances already made by ML in all aspects of business to impact both top-line growth and bottom-line efficiencies. As such, the attention and authority of CEOs to harness the future impact of GAI on their organisation is paramount. Success depends on having the correct organisational vision and foundations in place, along with a data & AI strategy that is future facing and keeps pace with the rapid advances in GAI while seamlessly integrating it with existing business and technology systems. As their organisations stand on the brink of this next technological wave, there are critical considerations every CEO should have made before embarking on the journey: The AI vision of the organisation Having clarity on the business outcome you are pursuing is crucial in determining what changes – organisational, technological or both – need to be introduced to get you there. However great the temptation is to implement a new technology, it is necessary to understand what need you are addressing – to improve efficiency, reduce costs, improve the customer experience. Your AI vision will cement your organisation’s direction of travel and ensure all decisions ladder up to support the desired outcomes. Before setting a course to implement GAI, business leaders need a strong sense of the role AI more broadly will play in their organisation, where GAI (as well as other forms of AI) can create actual value for the business, and what the path is to implement to optimum effect. As GAI will play a central role in future business success, key leaders must be aligned on strategy and approach so top-level buy-in must be considered and assured. As well as your CIO and CTO, this means leaders from across the organisational functions – so that GAI does not become a siloed pet project. Right business problems, right time, right cost While GAI certainly presents exciting opportunities, it is critical for CEOs and their teams to focus on solving the right business problems at the right time. Identifying the opportunities that GAI can address and aligning them with organisational goals requires executive leadership to inspire a vision for success with GAI across the entire organisation. We know that GAI can help software engineers write code up to 45% faster and similar efficiencies from GAI can impact design and customer service within your organisation. But are those priority use cases for your business when ML has been shown to drive growth and generate efficiencies in everything from new product development to finance and people management? Quick wins with an emerging technology can be an import way to signal business progress to a host of different stakeholders. At the same time, it’s important to be honest about your data assets and liabilities – or risk that quick win becoming a failure. Generative AI might offer significant upsides but requires investment in your data & AI capability – in people, talent and training as well as the fundamentals of data collection, housing, maintenance and management. A key consideration has
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