How to Create a Forward-Thinking Generative AI Strategy

Some companies, including many of the tech giants, are rapidly integrating generative AI into their products. However, I believe two very important pillars of implementation are being overshadowed right now: the responsible and cautious use of technology in the business roadmap. Below, learn how to create a generative AI strategy that minimizes risks while still unlocking the full business value of this technology.

Pace of Implementation

A recent Harris Poll points out that 39% of organizations have already established policies or strategies related to generative AI. Meanwhile, 42% are in the process of developing AI strategies, 17% plan to do it but have not yet started, and 1% have no plans to develop it.

The use cases of ChatGPT are immense, revolutionizing business and the daily lives of employees and customers. Companies that have innovation in their DNA need to outline the benefits and risks of this technology and outline a coherent generative AI strategy that makes it clear to stakeholders how this investment adds business value.

In other words, it is important to study generative AI in depth, knowing how to implement it strategically and using it with caution, responsibility, and intelligence. That way, it can serve as a valuable tool for people at your company to manage operational demands, decision-making, customer service, and target opportunities to improve efficiency and effectiveness.

Developing Your Generative AI Strategy (and Avoiding Pitfalls)

Using the public ChatGPT (GPT 3.5) exposes your company to critical issues related to privacy, security, and lack of governance. Recently, we have seen cases of sensitive user data leaking. Because of this, many companies have now prohibited their employees from using ChatGPT to avoid new crises and possible lawsuits.

The better plan is for companies to create their own generative AI tools based on the ChatGPT model. This allows you to fully secure and govern the technology while also personalizing it to the unique needs of your organization. In my view, this is the only way to leverage insights from generative AI without exposing your company to unnecessary risks. The newly-released ChatGPT Enterprise may also be an option, although it is too early to say how effective that product will be.

Another important factor to consider is accuracy. It is essential that generative AI technology provides answers that are true, safe, reliable, and coming from the right sources. There is also no point in implementing generative AI if employees don’t know how to use it. Ensure team training is a core part of your generative AI strategy, making it easier for them to leverage this technology and, returning to the subject of accuracy, be on the lookout for misinformation.

As much as we are just beginning to explore generative AI, starting this new journey with responsibility and caution is the duty of all companies. Start (or continue) your journey today with a more comprehensive generative AI strategy. Explore, discover, enjoy, but always with intelligence and due diligence.

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