(Gen)AI an integral part of the business strategy

A recent global survey by SAS and Coleman Parkes among 1,600 decision-makers found that China leads the way in the use of GenAI in the workplace, followed by the U.K., U.S. and Benelux. However, the U.S. leads the way in maturity and full implementation of GenAI.

The biggest challenge according to the survey is the lack of a clear GenAI strategy. Only a small percentage of respondents are well aware of the implementation strategy within their organization, particularly in the Benelux. Other challenges include a lack of data and insufficient preparation for AI regulations. IT leaders are particularly concerned about data privacy and security.

A common question is which GenAI strategy companies are pursuing. Because just having a strategy is not enough for success and productivity. GenAI must be an integral part of the business strategy to have real impact. Five factors are important here:

1. Data Quality: Data quality is essential. No good AI model can be developed without quality data. Companies must thoroughly evaluate their data to achieve reliable results and avoid bias. The same is true for GenAI: the quality and reliability of the final result depend on the data used.
   
   
2. Data Security: With the increasing threat of data breaches and cyber attacks, data security is crucial. GenAI offers criminals new opportunities to obtain data in a smarter way, making security even more important.
   
   
3. Cost Aspect: GenAI is costly. Companies must determine which processes can benefit most from GenAI to justify the cost. The choice between training a GenAI model themselves or using outside vendors is also important here.
   
   
4. Attract talent: With the scarcity of IT talent, companies need to be attractive to AI experts. This is essential given the pressure to develop and adopt GenAI quickly.
   
   
5. Collaboration across disciplines:  For reliable GenAI, data scientists, IT, business and legal experts must work together effectively.

By considering GenAI as a core part of the business strategy and paying attention to these five factors, organizations can maximize the benefits of this technology.

Strategies for successful implementation

Our research shows that 83% of U.S. companies will invest significantly in generative AI by 2024-25. The following aspects are important for successful implementation:

• Value creation: Translate the implementation into measurable benefits for the organization.

• Trust and Compliance: Increase trust in data use and ensure regulatory compliance.

• Integration: Ensure that existing systems and processes do not impede the potential of GenAI.

• Skills: Develop the skills in your organization that support and optimize the GenAI strategy.

By applying these strategies, organizations can not only maximize the benefits of GenAI, but also strengthen their competitive position.

Learn more about the importance of GenAI