The launch of ChatGPT marked a turning point in the world of technology and created a buzz around Generative AI (GenAI) that captured people's imaginations. The conversation thus far has focused on how this technology will change the way we work and live, with the potential for GenAI to revolutionise various aspects of doing business.
How can organisations deliver value from GenAI?
We believe that this phase of speculation is now coming to an end, and we are entering a new era. In this next phase, organisations will move beyond the hype cycle and start to focus on delivering real value. That’s why we’re focused on working with our clients to help them understand how to achieve their ambitions through the use of GenAI.
This was evident during our recent panel discussion, where AI experts from AND and the wider digital community shared their insights into navigating GenAI. Throughout the discussion 10 key strategies emerged.
The key strategies for successful GenAI adoption
- Start with the right problems to solve. Avoid solutions in search of a problem. Start by working through use cases and understanding your business. Identify the areas that are slowing down or where new value can be created. Having a view of the business from different perspectives, such as customer, finance, legal, and risk, will give you the information you need to focus on the areas that will deliver real value through automation.
- Embrace the change. But beware of the hype. GenAI is still a nascent technology, and teams must build trust with executives by identifying use cases quickly, proving that they are the right thing to move forward with by conducting a proof of concept to validate the ideas. However, it’s important to ensure that GenAI is not being implemented just for the sake of it.
- Keep iterating. Small iterations are key. Companies that have waterfall processes will struggle to keep up with the fast-moving GenAI landscape. It’s important to keep iterating and refining your solutions.
- Build trust. Trust is a big theme at the moment, and companies must consider what to do to enable trust and how to get customers to trust them. Processes and guardrails are vitally important, and you must ensure that you have the right policies and procedures in place to protect customer data and ensure that your AI solutions are ethical.
- Understand the data you are using. Security and data are key considerations when implementing GenAI solutions. You need to understand the data you’re using and ensure that you’re using private instances of large language models (LLMs), where necessary.
- Think about the long-term. The tech landscape is moving very quickly, and you need to consider whether the technology that you’re using will still be around in a few years’ time. It’s important to think longer-term and ensure that your solutions will be sustainable from the outset.
- Start small. Cost is going to be the biggest challenge for most businesses but applying GenAI tools will increasingly become a commodity service delivered through your Cloud or SaaS providers. With that in mind, It’s important to start small and focus on the areas that will deliver the greatest benefits.
- Understand your business. GenAI is a powerful automation tool, but it’s important to understand where the constraints are in your business that will deliver real value through automation. Having a view of the business from different perspectives, such as customer, finance, legal, and risk, will give you the information you need to focus on the areas that will deliver the greatest benefits.
- Upskill your people. It’s important to upskill your people on GenAI, both in tech and non-tech roles. Spend time understanding the difference between prompting and search. Prompt engineering is a different skill that will take time for people to understand, but a good prompt can make a significant difference to the outcome.
- Don’t go wholesale into things. It’s important not to go wholesale into GenAI solutions. Start small and focus on the areas that will deliver the greatest benefits. Keep iterating and refining your solutions, and ensure that you have the right policies and procedures in place to protect customer data and ensure that your AI solutions are ethical.
Conclusion: start with a strategic approach to GenAI to unlock its full potential
We believe that GenAI will revolutionise the way we work and live, but it’s important to approach it with caution and a strategic mindset. By starting with the right problems to solve, building trust, understanding the data you are using, thinking about the long-term, and upskilling your people, you can successfully navigate the GenAI landscape and unlock its full potential for your organisation.
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