The article also highlights the importance of incorporating ethical considerations in gen AI models to avoid discriminatory or unfair outputs. It suggests that the future of ERP lies in harnessing the power of gen AI for improved decision-making, customization, and simplification of the user experience. However, it also warns of the potential for gen AI to produce hallucinations or erroneous conclusions, underscoring the need for users to critically evaluate the information produced by gen AI.
Key takeaways:
- Generative AI (gen AI) can significantly enhance business results by producing new content and summarizing unstructured data, but it also brings unique risks that need to be addressed.
- Low quality data training can result in low quality output from gen AI models, and privacy and compliance risks can multiply with proprietary gen AI models.
- Organizations are advised to work with diversity, equity, and inclusion (DEI) specialists when developing their gen AI models to avoid unintended bias and discriminatory outputs.
- Gen AI is seen as the future of ERP, and organizations need to create enterprise-wide generative AI risk management strategies and governance policies to harness its potential for improved decision-making and business reinvention.