The article further emphasizes the need to prepare for operationalizing AI, suggesting that companies should focus on creating a solid foundation for developing GenAI capabilities. It encourages businesses to leverage partners' expertise and capabilities to drive innovation with GenAI. By doing so, companies can move from FOMO to JOMO, unlocking continuous and growing value across internal business functions, customers, suppliers, and more.
Key takeaways:
- Generative AI (GenAI) is being adopted by enterprises globally to optimize processes and create new business value, despite challenges such as hallucinations, bias, and security and privacy issues.
- Instead of rushing to implement GenAI, data, IT and innovation leaders should take the time to set up a GenAI structure that will deliver significant business value and scale with growth.
- Generative AI is likened to the Barbenheimer phenomenon, fusing two disparate entities—open-source large-language models (LLMs) and enterprises’ knowledge corpora—to create actionable insights.
- Companies should move from FOMO (fear of missing out) to JOMO (joy of missing out) by slowing down, setting a strategy, and assessing infrastructure readiness for GenAI-led business transformation.