GAI Insights Team
Companies are dealing with the fast-moving landscape of Generative AI (GenAI) … when you look at it closely, the question of benchmarking their investments (in this really transformative technology) has become increasingly urgent.
How do companies make sure they have best practices in place?
Maybe it’s a question of how people are adopting AI. What do companies do to protect themselves in a competitive world? They really have to look at how they see the landscape around them and implement AI policies in the right ways.
That means implementing different kinds of things at all levels of staff. It means having a comprehensive viewpoint of what you’re doing in the boardroom and why. It means getting by and from the right people to really kind of come together and license the projects that you wanted to adopt.
There’s significant press coverage and widespread excitement…
But the reality is that many companies have only recently begun to prioritize GenAI. They have to appoint leaders, and allocate budgets to harness its potential, and all of that other business that supports confidence.
To help organizations determine whether they are in the top quartile of GenAI adoption as of Q1 2024, we developed a straightforward checklist from our comprehensive GenAI Maturity Model that took some work to create. By following these steps, companies can ensure they are on the right path to leveraging GenAI for competitive advantage.
Do these things:
Engage the Board of Directors: Start by dedicating at least one hour to discuss GenAI's opportunities and risks with your board. Use the WINS framework to evaluate the urgency of GenAI for your industry and company.
Hands-on Experience for Executives: Ensure that your CEO and each VP spend a minimum of three hours using ChatGPT. This hands-on experience is crucial for understanding the technology's transformative potential and how it can be applied to your business. Make sure people are thinking about what to do every step of the way.
Assess Legal and IT Risks: Your legal and IT departments should be conducting a thorough risk assessment related to GenAI. With ongoing lawsuits against OpenAI and other providers, getting this kind of study under your company’s belt is a must-have.
Appoint a GenAI Coordinator: Assign an executive to oversee GenAI integration, ensuring strategic alignment and coordination across the organization. This role is critical as interest in GenAI continues to grow.
Implement an Employee Use Policy: Rather than banning tools like ChatGPT, establish a clear use policy and provide basic training for your employees. Empower them to use GenAI responsibly and effectively.
Pilot a Zero-Risk Chatbot: Begin your GenAI journey with a no-risk chatbot pilot using public data from your website. This hands-on learning will kickstart organizational understanding of GenAI.
Support GenAI Enthusiasts: Identify and encourage employees who are passionate about GenAI. Their enthusiasm and expertise will be invaluable as you explore new use cases and opportunities.
Develop a Project Identification Process: Create a structured process for identifying and classifying GenAI projects. By doing so, you can uncover significant productivity and cost-saving opportunities within your organization.
By completing these steps, your organization can confidently position itself in the top quartile of GenAI adopters and begin the journey toward transformational success.
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