Is your business currently piloting Generative AI? Are your employees using it on a daily basis? Do you have a structure in place for its use? If not, you should have.
Generative AI, and applications like ChatGPT and Bard, in particular, have really caught the public imagination. They offer a way for companies and individuals to become more efficient, research information faster, and free themselves from repetitive functions so that they can be more creative or strategic.
A recent report by Gartner (Oct 2023) found that 55% of companies are piloting or in production mode with Generative AI. Six months earlier (March/April 2023) just 15% of companies were piloting. Generative AI is taking the corporate world by storm and at a speed that is hard to imagine.
Companies are using this new technology to drive growth, speed innovation, create disruption, replace repetitive functions, optimise resources and become more efficient.
Generative AI will undoubtedly impact your business and that of your competitors. If you have a seat at the board table, you should be allocating resources to this new tool. Some initial research should establish the key benefits of Generative AI for your business. You should then allocate some budget to allow team members to investigate further.
Risks are real
78% of Gartner respondents believed that the benefits of Generative AI outweighed its risks. But the risks are real. This learning phase must be overseen by IT who can guide the testing to ensure that your team has not been ’fooled’ by some hallucinations and, critically, that you have not compromised any sensitive internal documents while testing.