In this week’s CarCast, we review the latest insights from the AI Readiness Report and highlight the key questions every executive should know to ask about Generative AI.
AI Readiness Report Highlights:
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Adoption: Last year, 19% of companies had no plans for Gen AI. This year, only 4% have no plans to work with Gen AI.
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Production: Last year, 21% were in production. This year 38% are in production.
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Challenges: The #1 barrier people run into when deploying Gen AI? Security & Governance
Questions You Should Know To Ask about Generative AI:
- How should you identify the right Gen AI use-cases to pursue?
- How should you budget for Gen AI?
- When NOT to use Gen AI?
What Do People Use Generative AI For?!
In my opinion, there are 3 ways to think about Gen AI use-cases: Internal customers, External customers…and embed in existing applications.
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Internal customers. A fairly low risk and high reward equation. They could be about making your data better or supercharging the performance of your people across all disciplines: creation of content for marketing/sales, code for developers or summarization for finance, administration, customer support reps. A good example is how Twilio uses Gen AI to help reps find answers faster or summarize calls after the fact.
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External customers. Think chatbots for customer support or “Gen AI in context” like the example of Wayfair Decorify, where you can upload a photo of your living room and the application can provide relevant and available Wayfair inventory to ‘dress your living room’.
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Embedding of Gen AI capabilities into existing applications. This is particularly powerful when you have very targeted use-cases that rely on applications that you’ve used or built over time. ERP, HCM or CRM applications are prime examples. Here's what's interesting: with these applications, data might not be particularly wide or large but its value and sensitivity is extremely high so remember that as the selection criteria for these use-cases might be different.
