Published on February 12, 2024, 6:22 pm

Generative AI is a groundbreaking technology that has the potential to revolutionize productivity and streamline processes for organizations. However, despite its vast potential, many organizations are still in the early stages of adopting and implementing generative AI.

A recent survey conducted by Dell revealed that 76% of IT leaders believe that generative AI will significantly enhance productivity, streamline processes, and reduce costs for their organizations. However, most organizations are moving slowly when it comes to advancing generative AI initiatives. According to research by Boston Consulting Group (BCG), 90% of C-suite executives are either waiting for generative AI to move past its hype cycle or experimenting with small-scale pilots.

The slow adoption of generative AI can be attributed to several key challenges faced by organizations. These challenges include a shortage of talent and skills, unclear investment priorities, and the lack of a strategy for responsible AI implementation, according to BCG. Accenture’s survey results further support these concerns, with only 27% of business leaders reporting readiness to scale up generative AI initiatives.

Wavestone research shows that currently, only 5% of organizations have implemented generative AI technology at scale. Additionally, only half of these organizations have the necessary talent to effectively implement generative AI. While some organizations have implemented guardrails for the safe use of AI, concerns about misinformation, ethical bias, and job loss continue to hinder widespread adoption.

These statistics suggest that indecision around how to proceed with generative AI is paralyzing organizations and preventing them from unlocking its true value. Organizations must overcome this inertia and develop strategies that will enable them to leverage the benefits of generative AI.

To address this challenge, a playbook exists to help organizations navigate the technological change presented by generative AI while overcoming fear and uncertainty. This playbook emphasizes organizational readiness combined with governance and iterative development. IT leaders must collaborate with their business counterparts to craft a strategy that aligns people, processes, and technology.

The strategy should include both quick wins in the short term and bold bets for the long term. Organizations should invest in training staff and leveraging open-source resources to build generative AI models. Data preparation is crucial for success, including anonymization, labeling, normalization, and implementing governance measures for quality, integrity, and security.

When it comes to building generative AI models, organizations should consider right-sizing the models based on their requirements to minimize infrastructure costs. Additionally, leveraging retrieval augmented generation (RAG) can help tailor models using enterprise-specific data.

Throughout the process, data analytics should be collected and analyzed to assess performance and identify areas for improvement. Project post-mortems are essential for organizational learning. This information can also be used to communicate progress and outcomes to CEOs and board members effectively.

While following this playbook does not guarantee success, partnering with a trusted provider can increase the chances of successful implementation. Dell Consulting Services offers the Generative AI Accelerator Workshop, where experienced business and IT leaders can help assess an organization’s readiness for generative AI.

In conclusion, generative AI has immense potential to transform organizations’ productivity and processes. However, organizations must overcome challenges such as talent shortages, unclear investment priorities, and ethical concerns to fully realize the benefits of generative AI. By following a well-designed playbook that emphasizes organizational readiness, governance, and iterative development strategies, organizations can navigate this technological change successfully while unlocking value through generative AI initiatives.

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