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What Every Leadership Team Needs To Know About Generative AI

Jan 19, 2024 - forbes.com
Generative AI is predicted to become a $1.3 trillion market by 2032, transforming work and revenue generation. A survey by Infosys Knowledge Institute found that over 80% of employees believe AI increases productivity. However, businesses are still grappling with how to implement it effectively. Leaders are advised to ask three key questions: how will generative AI impact their industry, what capabilities need to be built, and how to transform their operating model.

The article suggests that successful AI implementation involves identifying processes that can be enhanced with AI and building a comprehensive business case. It also emphasizes the need for upskilling the workforce and building technical capabilities. Finally, it advises that organizations need to rethink their operating model to take full advantage of AI, including reimagining internal processes and customer journeys, and developing the necessary skills and talent.

Key takeaways:

  • Generative AI is predicted to become a $1.3 trillion market by 2032 and is set to transform how we work and how companies generate revenue.
  • Leadership teams should ask three key questions before embracing generative AI: how it will impact their industry, what capabilities they need to build, and how to transform their operating model.
  • Generative AI can supercharge the performance of various roles and can lead to the emergence of entirely new roles to meet skills gaps.
  • Adopting AI-first means building talent, processes, and systems to design and deliver AI services, rethinking customer and employee experiences, and embedding next-generation software development at the heart of organizations.
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