An effective generative AI strategy is essential for businesses to stay competitive. Hakkoda’s Head of AI, Rob Sandberg, walks through how to build your own – with an instructive use case.
Copyright: diginomica.com – “3 Steps To An Enterprise Gen AI Strategy That Delivers Real-World Business Results”
In a fast-paced global marketplace where the quality of data-driven decision-making regularly separates the ‘haves’ from the ‘have nots’, the ability to keep up with technological advancements is an essential aspect of managing a successful business. With the Artificial Intelligence (AI) boom of the last few years, business leaders are also being faced with a new set of challenges and opportunities. To make the most efficient use of generative AI (gen AI) tooling while mitigating the potential risk of their use, more and more organizations are formulating organization-wide gen AI strategies to better align the technology they use with the business OKRs they ostensibly serve.
At its most basic, a gen AI strategy refers to a strategic approach that incorporates AI technologies and tools to improve operations, enhance customer experience, and drive growth. With a terrain informed by myriad forces ranging from potential budget cuts to new rulings by the Federal Trade Commission (FTC) granting them the use of compulsory measures in investigations related to the use of AI, the imperative that CXOs and other C-Suite executives take ownership of AI-driven business outcomes provides another important justification for the development of coherent AI strategies. AI must be thought of not just as a tool for automating certain manual processes, but as a market-wide disruption that will reshape businesses down to their underlying operational models.
In this blog post, we’ll explore the reasons why having a gen AI strategy is crucial for your business and how it can give you a competitive edge in the market. We will also walk you through how to build your own AI strategy to make the most out of your AI investments. Finally, we will walk you through how Hakkoda has helped one Fortune 500 Consumer Packaged Goods (CPG) company strategically leverage artificial intelligence to streamline its reporting ecosystem and improve operational efficiencies in a modern data stack centered on Snowflake.
Step 1 – understand the risks of gen AI (and how to mitigate them)
The integration of artificial intelligence into your organization’s data practices comes with numerous benefits, but it also presents unique risks that need to be addressed.
One such risk is the potential for AI systems to make errors or provide inaccurate information. Since gen AI and LLM content is the by-product of vast amounts of training material, it is also worth being proactive in addressing discriminatory output, as AI will share any biases commonly found in its source data.[…]
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