Challenges and Strategies for Leveraging Generative AI in Business

In the world of technology, generative AI (GenAI) holds a lot of promise for boosting corporate productivity. However, closing the gap between its potential and actual business value remains a significant challenge for many CIOs. Recent research has shed light on some of the key obstacles that are preventing organizations from fully capitalizing on GenAI.

According to Boston Consulting Group, 66% of C-level executives are ambivalent or dissatisfied with the progress of their AI or GenAI efforts. The top three obstacles cited in the research include a lack of talent and skills to work with the technology, unclear AI and GenAI investment priorities, and the absence of a strategy for responsible AI. Similarly, Deloitte found that 41% of business and technology leaders see a lack of talent, governance, and risks as barriers to broader GenAI adoption.

The concern surrounding GenAI has even prompted some vendors to scale back their rhetoric, fearing that the technology’s promise has outpaced its current value relative to its cost, accuracy, and productivity gains. This fear, uncertainty, and doubt (FUD) can make it challenging for IT leaders to secure the necessary budget and resources to build GenAI services, potentially leading to more shadow AI and increased security threats.

As an IT leader, you have the opportunity to steer your organization away from this malaise and towards successful GenAI adoption. One way to do this is by running a private GenAI instance that gives you greater control over cost, performance, security, and other critical factors. To achieve this, you can follow a playbook that includes several key steps.

First, reach a consensus on strategy by building a cohesive plan centered around business use cases agreed upon by key stakeholders. This plan should incorporate governance policies, guardrails, and best practices to support safe and responsible GenAI use. Assess your readiness by evaluating your current infrastructure and developing a blueprint for what is needed to support your strategic vision.

Cleanse your data to ensure it is of high quality, consistent, and centrally stored. Right-size your models to fit your use cases and business outcomes, and choose a workload location that aligns with your business requirements, whether it be on-premises or in the cloud. Pick the right partners to help you navigate this journey and choose the GenAI path that is right for your business.

Overall, GenAI is still a nascent technology, and there is no one-size-fits-all formula for success. Partnering with companies like Dell Technologies can help you navigate the complexities of GenAI implementation and find the right solutions for your organization. By following these steps and leveraging the right resources, you can steer your organization towards successful GenAI adoption and unlock the full potential of this transformative technology.