Here’s How to Harness the “Full Potential” of GenAI

A new Forrester study points to optimal “use cases” for generative AI.

A new study shows 71% of U.S. companies are “experimenting” with generative AI as of September, 2023, and most have expansion plans.

The study from Cambridge, Mass.-based Forrester notes the 71% figure is up from 62% in July, signifying a big uptick in enterprise GenAI usage. That rise “represents one of the fastest mass adoption rates of a new technology” ever recorded, the report notes.

While “experimenting” is hardly equal to fully engaging in Gen AI tools, Forrester points out that AI campaign success depends largely on just a few factors. Addressing the following factors, the report states, greatly increases the odds of “enhancing user experiences” and achieving greater productivity, Forrester reports.

Prioritize trust. A pointed policy to emphasize trust throughout the company isn’t a luxury, Forrester says – it’s a necessity.

“Companies that help their employees and customers understand the nuances of privacy and security will empower their users to be more confident and innovative in their use of this technology,” the study notes.

Emphasize practicality. It may be early in the Gen AI corporate usage phase, but evidence is emerging the best outcomes are when companies lean on artificial intelligence to help with existing products or services.

“In initial prototypes and use cases, select projects that lean toward employee-facing or offline generation, as opposed to real-time generation with a chatbot,” Forrester advises.

Train your team. To properly harness GenAI technologies, companies need staffers and leaders need to upskill continually.

“These include technical as well as soft skills to communicate the impact of GenAI transparently and openly with employees,” the report noted.

Keep the data unique to what you have. Forrester recommends “differentiating” by using a company’s business data.

“Foundational models are powerful tools but accessible to everyone,” the report states. “To create differentiation, organizations should rely on their business data to build GenAI models and applications. “

Leveraging the “Must Have” Element

Managing expectations is also a big deal when a company starts out using Gen AI tools and platforms.

“Generative AI has the power to be as impactful as some of the most transformative technologies of our time,” notes Srividya Sridharan, group research director at Forrester. “The mass adoption of generative AI has transformed customer and employee interactions and expectations. As a result, GenAI has catapulted AI initiatives from ‘nice-to-haves’ to the basis for competitive roadmaps.”

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