Sunland participated in Gartner’s 2024 Technology Expo in October, which highlighted the growing impact of AI, particularly Generative AI (GenAI), on businesses. The conference provided insights into leveraging this technology to enhance value while mitigating potential risks. This article summarizes the key takeaways from the event to share with our business partners.
The future is intelligent, and it’s closer than you think. Artificial Intelligence (AI), particularly the revolutionary capabilities of GenAI presents an unprecedented opportunity for businesses to transform operations, enhance customer experiences, and unlock new avenues for growth. Gartner’s IT Expo provided valuable insights into how business leaders can harness this power while navigating the inherent risks.
Embrace a Human-First Approach to AI
While AI offers immense potential, it’s essential to prioritize the human element. Gartner experts advocate for an employee-first approach, tailoring AI experiences to distinct personas within the organization. AI should act as a trusted partner, freeing up human time for higher-level tasks like thinking, decision-making, and interaction.
Harness the Transformative Power While Minimizing Potential Downsides
Establish a robust AI governance framework. AI Governance frameworks should encompass clear policies, decision rights, and accountability mechanisms to ensure the responsible and ethical use of GenAI. Strive to make AI systems as transparent and explainable as possible to build trust and accountability. Invest in training programs to equip the workforce with the knowledge and skills necessary to work effectively with AI.
The Power of Defining Use Cases
Defining clear use cases is crucial to AI success. By identifying specific business challenges that AI can address, organizations can focus their efforts, maximize ROI, and mitigate risks. Gartner experts emphasize starting with low-hanging fruit – those “everyday AI” use cases that offer quick wins and demonstrable value. Some generic use cases midsize enterprise might consider implementing include:
- Customer Service: AI-powered chatbots can handle routine inquiries, freeing up human agents to address more complex issues.
- Marketing: GenAI can generate targeted marketing content, personalize customer experiences, and analyze campaign performance.
- Supply Chain: AI can optimize logistics, predict demand fluctuations, and enhance inventory management.
- Finance: AI can automate financial processes, detect fraud, and provide data-driven insights for decision-making
Gartner highlights the importance of using the AI Opportunity Radar to prioritize use cases, focusing on those that align with the organization’s AI ambition and offer the greatest potential for value creation.
The Imperative of Board and Executive Support
Securing board and executive buy-in is paramount for AI initiatives. Boards are primarily concerned with shareholder value. When presenting AI proposals, focus on how they will impact key financial metrics such as revenue, cost and risk. Additionally, it is essential to establish a clear AI strategy, outlining the vision, value proposition, adoption plan, and risk mitigation strategies. This strategy should address key questions that boards typically have about AI, such as:
- What is the overall AI strategy, and how does it align with our business goals?
- What are the specific use cases for AI, and are they the right ones to pursue?
- How will we execute our AI strategy, and what approach will we take?
- How will AI impact our shareholders, customers, employees, and brand?
- When will AI become a competitive differentiator for us?
Beyond the board, executive support is crucial for driving AI adoption within the organization. Leaders need to champion AI initiatives, allocate necessary resources, and foster a culture that embraces change and innovation. By effectively communicating the potential of AI, addressing concerns, and demonstrating a commitment to responsible implementation, business leaders can secure the support needed to embark on a successful AI journey.
The AI revolution is here. It’s time to embrace the future, unlock the transformative power of AI, and lead your organization into a new era of intelligent growth.
