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Anne Valaitis
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Navigating Your Generative AI Journey

A roadmap to success

Jul 7, 2024 8:00:00 PM

 

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As organizations increasingly recognize the transformative potential of generative artificial intelligence (AI), many are eager to embark on their own AI journeys. Our recent research reveals that 94% of companies are already using AI in some capacity, with 64% specifically leveraging generative AI capabilities. If you’re looking to join this wave of innovation, here’s a roadmap to help you get started and achieve success with generative AI.

 

 

Assess Your Current State and Define Goals

Begin by evaluating your organization's existing AI capabilities and digital infrastructure. Our research shows that 84% of companies have at least moderate digital capabilities with basic cloud services and storage. Identify areas where generative AI could have the most significant impact on your business processes, customer experience, or product development.

Secure Leadership Buy-In

Leadership support is crucial for successful AI adoption. According to our study, 48% of respondents are primary decision-makers with company-wide authority on AI strategy. Educate your leadership team on the potential benefits and ROI of generative AI to gain their support and secure necessary resources.

Build a Cross-Functional Team

Assemble a diverse team that includes IT professionals, data scientists, domain experts, and business leaders. This cross-functional approach ensures that your generative AI initiatives align with business objectives and consider various perspectives.

Start with Pilot Projects

Begin with small, manageable projects to demonstrate value and gain experience. Our research indicates that the top use cases for generative AI include text generation (56%), data synthesis (64%), and code generation (50%). Choose a use case that aligns with your business priorities and has potential for quick wins.

Invest in Data Quality and Infrastructure

High-quality data is essential for effective generative AI. Invest in data cleaning, organization, and governance. Ensure your infrastructure can support AI workloads; 57% of companies in our study have 50%-75% of their infrastructure and data systems in the cloud.

Prioritize Ethics and Responsible AI

Address ethical considerations and potential biases from the outset. Our research shows that 65% of organizations have an AI use policy in place, with another 28% currently developing one. Establish guidelines for responsible AI use and regularly assess your models for fairness and transparency.

Focus on Training and Skill Development

Invest in upskilling your workforce. According to our study, 77% of respondents rate their overall AI expertise as knowledgeable or very knowledgeable. Provide comprehensive training programs to ensure your team can effectively leverage generative AI tools.

Collaborate with Partners and Vendors

Consider partnering with AI vendors or consultants to accelerate your journey. Our research indicates that 69% of companies use a mix of in-house development and external vendors for AI technologies.

Measure and Iterate

Establish clear metrics to measure the impact of your Generative AI initiatives. Our study shows that the top benefits observed include increased efficiency/productivity (61%), higher quality outputs (53%), and enhanced data analytics/insights (38%). Continuously evaluate your progress and be prepared to iterate based on results.

Scale Thoughtfully

As you gain experience and demonstrate success, plan for scaling your generative AI initiatives across the organization. Another 38% of companies in our study plan to expand their existing AI capabilities in the future.

 

Keypoint Intelligence Opinion

While the potential of generative AI is immense, success in this domain requires a balanced approach that combines technological innovation with ethical considerations and business acumen. Organizations that approach generative AI as a strategic initiative, rather than a mere technological upgrade, are more likely to realize its full potential. The journey towards generative AI maturity is not just about implementing cutting-edge technology; it’s about fostering a culture of innovation, continuous learning, and responsible AI use. As we move forward, the companies that will truly thrive are those that can harness the power of generative AI while maintaining a strong ethical foundation and a clear focus on delivering value to their customers and stakeholders.

 

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