The AI revolution has taken boardroom discussions by storm in almost every organization and every business vertical. It’s hard to find a company that doesn’t discuss the implications and opportunities that AI/GenAI-based technologies create for it, and what’s especially amazing is the pace of change. Hardly a day goes by when something new doesn’t happen in the field, with amazing new tools that seem to take a step forward in what can be done with them professionally, personally and in general.
When asking where organizations and companies can derive value from these technologies, and how they can enhance the value they offer to themselves and their customers, it’s important to consider the following points:
Clear Business Objectives: As we always tell our clients, technology is always the means, not the goal itself. Every organization must define the business objectives it is trying to achieve (within the overall strategy), and based on these objectives, evaluate which tools (technological and others) can serve and advance them towards achieving these goals. In the case of GenAI/AI technologies, the same concept applies: organizations need to define clear and well-defined business objectives for themselves, and only then evaluate how AI can assist in achieving those objectives.
Data Quality and Accessibility: It is important to remember that AI-based technologies must rely on high-quality, refined, and accessible data. Therefore, organizations must ensure that their data is accurate, diverse, and relevant enough to provide an optimal foundation for training and learning AI algorithms. This is a basic and critical step for any organization that wants to build capabilities, tools, and real value. Furthermore, the importance of data quality and accessibility is also relevant for data management, monitoring, and control purposes, both internally within the organization and, equally important, for regulatory requirements, a topic we will address in the following sections.
Ethical and Regulatory Compliance: Along with the many opportunities that AI creates, many concerns have also arisen in recent years regarding its impact on privacy and information security. In addition, the capabilities of the technology make it possible to produce things that did not exist before: deep fake using human voices and faces, producing videos and photos that look authentic but are not, and impersonation with an unprecedented level of accuracy. Tools like ChatGPT and others rely on rich data to deliver these outputs, and when there is no transparency about exactly how the data is being used and where it might flow, this only increases the growing concerns.
Therefore, it is not surprising that one of the most significant factors that every organization must consider in the aspect of using AI is: regulatory requirements and guidelines, as well as the exercise of discretion and basic ethical and value codes, especially in places where the regulation has not yet defined precisely what is required to be done (beyond the borders the GDPR). Organizations must refer to: transparency of information use, fairness and responsibility, information security.
Human-Centric Design: Whether it’s employees, customers, business partners, or others, organizations are required to implement technologies in an accessible, simple, clear, and transparent manner to allow target audiences to use them in the most optimal way. This ensures that the technologies ultimately enhance human capabilities (rather than replace or make them obsolete). Therefore, it’s crucial to provide sufficient training for internal teams on the technology and to gather continuous feedback from end customers to identify areas that need refinement, clarification, and improved accessibility.
Scalability and Flexibility: When organizations implement AI technologies, it’s essential to adopt a long-term perspective, considering scalability, enhancement, and refinement of the technology over time. Moreover, organizations must account for dynamic adjustments to growing business needs over the years, which the technology will need to support and serve. Therefore, organizations are required to implement flexible yet stable architectures, cloud computing, and agile development methodologies that can accommodate evolving technologies and, of course, ever-changing market conditions.
Risk Management and Security: Developing a risk management strategy that aligns with the new capabilities offered by AI is critical for any organization to prepare for and address risks and threats related to the technology. Organizations must adopt and implement security tools to protect data and prevent its leakage or misuse for purposes that do not align with the organization’s field of activity, responsibilities, and business goals.
Continuous Learning and Improvement: Like with any technology, when it comes to AI, organizations that truly want to be at the technological forefront and maximize the business value that can be derived from the technology must adopt a mindset of continuous learning. As technology evolves, expands, and upgrades daily, organizations must build capabilities for learning, experimentation, and refining the technology, with the most holistic and flexible approach possible. It is important to remember that AI is not solely the domain of the IT department but a tool that can create value across the organization—from individual employees to teams, departments, and the organization as a whole.
In conclusion: We are living in a unique and exceptional era, characterized by dramatic changes in capabilities and, most importantly, the opportunities that technologies can create for us as humans. Like any new technology, alongside the opportunities, there are risks and threats, and it is crucial for every organization to address both when integrating new technology. To stay up-to-date and relevant, it is essential for organizations to build relationships with technology vendors, professionals, startups, and any entities working daily with AI technologies to remain aligned with the cutting edge of technological advancement.
So, if you too are hearing from all sides that AI and GenAI are the key to innovation and business success, but are wondering how these technologies can actually fit and contribute to your organization? Want to know where to start?
Should AI be integrated into internal processes or into external products and services?
Many organizations begin experimenting with AI technologies, but without a clear and comprehensive strategy, the full potential will be difficult to achieve.
At Strauss, we’ve identified this gap, which exists in many diverse organizations. That’s why we’ve developed a structured process to help you navigate these uncharted waters. We offer a professional, knowlegeable team of experts who combine practical experience in architecture and GenAI with broad business understanding to ensure your organization is prepared for and focused on the upcoming changes.
Together with you, we will define a clear business vision, cristallize the business value you want to achieve, identify and manage risks in the most effective way, and lead the technological implementation process in an efficient and organized manner.
