Generative AI and CEOs - Start Big or Go Small?

This article is about strategies that CEOs need to consider as they begin their journey with AI. Many of them echo the responses of senior executives to previous waves of new technology. However, Generative AI presents its challenges. Let us take a closer look. 

Organize for Generative AI

Generative AI requires a deliberate and coordinated approach because of its unique risk considerations and the ability of foundation models to underpin multiple use cases across an organization. 

One suggestion to make this happen is to agree upon a cross-functional group of leaders (for example, representing data science, engineering, legal, cybersecurity, marketing, design, and other business functions). Such a group will be able to help identify and prioritize the highest-value use cases and enable coordinated and safe implementation across the organization.

Reimagine end-to-end domains (versus focusing on use cases)

Organizations can be transformed by generative AI in specific business domains, such as marketing for retailers or operations for manufacturers. Organizations are reimagining the target state as Generative AI works in sync with other traditional AI applications and new ways of working.

Enable a fully loaded technology stack.

CEOs should look to their chief technology officers to determine whether the company has the required technical capabilities regarding computing resources, data systems, tools, and access to models (open source via model hubs or commercial via APIs). 

For example, the lifeblood of Generative AI is fluid access to data honed for a specific business context or problem. Companies that have not yet found ways to harmonize and provide ready access to their data effectively will be unable to fine-tune Generative AI to unlock more of its potentially transformative uses. 

The same principle applies to designing a scalable data architecture that includes data governance and security procedures. Depending on the use case, the existing computing and tooling infrastructure (which can be sourced via a cloud provider or set up in-house) might also need upgrading. 

A clear data and infrastructure strategy anchored on the business value and competitive advantage derived from Generative AI will be critical.

Takeaway

Generative AI represents a promising leap forward and a world of new possibilities. 

Some will start big; others prefer to approach it with smaller experiments. 

The best option will vary based on a company's goals and willingness to take risks. To learn more about the possibilities of Generative AI, our team of AI experts is available to answer any questions. You can reach us by sending an email to sales@kenility.com.