CIO OPINION
As is often the case when it comes to new technologies , there have been a number of examples of organizations that have wasted time and money investing in wrong AI strategies .
Noopur Julka , Senior Director , UST
Unleashing Generative AI : Three crucial steps for enterprises
Noopur Julka , Senior Director , UST , pitches three key pointers on implementing generative AI into strategy and business operations .
Across the globe , AI tools such as machine learning and natural language processing are optimizing business functions , driving business value and boosting employee productivity .
According to research , AI could offer saving opportunities of about $ 1.4 trillion to $ 2.6 trillion across functions , including customer service , R & D , manufacturing , supply chain and procurement .
AI is not only automating repetitive tasks but also moving beyond these use cases to assist in higherlevel , strategic initiatives to help drive broader business value .
Given this , it is now imperative for business leaders to implement generative AI into their strategy and business operations .
Despite these clear benefits , business leaders face several challenges when trying to successfully incorporate generative AI into their strategy , such as a lack of understanding and expertise , data challenges , and difficulties with integrating AI into existing legacy systems .
With projections that AI could automate about half of today ’ s business activities a decade earlier than previous estimates projected , here are the ways enterprises and leaders can better prepare themselves .
1 . Build a Strong Foundation and Gain a Clear Understanding of AI
Firstly , employers and managers must have a clear understanding of generative AI ’ s strengths and
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