Unlocking the Potential of Generative AI: Business Strategies and Insights
Generative AI has been at the heart of our work since ChatGPT launched late 2022. As of October 2023, we've done over 25 generative AI projects with our clients, over 60 leadership & board live demo sessions, and we've been drinking our own champagne by using it to reinvent our own sales process as well as certain areas of our delivery process. I am extremely excited by the potential of this technology, but, as usual, the greatest challenge has been how to drive real business value from it.
We've learned a thing or two from our successes so far, so we thought we'd share our experiences in an evolving document. This blog post and accompanying downloadable working paper open up what we’ve learned and guide you forward on your Generative AI journey.
A quick guide on where to initiate the transformative Generative AI journey
In recent decades, we've witnessed three major revolutions that have shaped the course of our careers. The latest of these, driven by the evolution of data and generative AI, promises to overshadow its predecessors. Generative AI has the power to transform our lives in ways that were once inconceivable. Yet, many organizations struggle to understand the profound nature of this change. They must leverage Generative AI to reshape the very foundations of their work and business operations.
While the advent of the internet and the explosion of mobile technology had a significant impact on various aspects of life, the focus often centered on technological advancements rather than redefining the core fabric of our world. In contrast, generative AI promises to penetrate deeper into work, business, and society.
This ongoing revolution already leaves a profound mark on our professional lives, with endless potential applications. It can be harnessed to create innovative products and services, enhance existing ones, and tackle complex challenges.
Now, the next critical step is to integrate generative AI into the very structural fabric of how we work and conduct business. Here's a quick guide on where to initiate this transformative journey:
- Identify use cases: Explore the areas where generative AI can make a difference.
- Refactor processes: Reevaluate and optimize your existing processes to seamlessly integrate generative AI.
- Align your current strategy - Present and Future: Ensure your strategy aligns with the evolving landscape of generative AI, both now and in the future.
- Embrace change: Cultivate a culture that embraces change and innovation as essential growth elements.
- Scale rapidly: Once you've identified opportunities, scale up your efforts swiftly to maximize the benefits.
Some concrete notes on how to move forward with GenAI
Since 2018, we've actively engaged with data to manage our internal complexities, with varying degrees of success. Keeping a record of our learnings and accumulated knowledge is indispensable. Over this period, we've noticed that the insights derived from our experiences, both successful and otherwise, can be invaluable in client cases, and we believe the same applies to the wider world. Hence, we've chosen to share openly a working document as a downloadable that we've been using to capture our learnings and the various perspectives through which we've been applying them. We hope to save you some work and offer advice on how you can actually navigate around the topic of Generative AI.
The transformation in this field is occurring at breakneck speed, with major developments unfolding almost weekly. As you read it, please remember that it is not an academic research paper but an ongoing project — a living document we'll regularly update. We aim to share our insights and engage in stimulating discussions about data and generative AI.
This resource isn't just for the future; it's available today. We eagerly anticipate your thoughts and contributions and are happy to have 1-on-1 discussions around the topic! Like we have every day with organizations of all sizes and all levels of leadership.
Final note: There is a lot of hype around Generative AI, which might feel tiring. But the hype exists for a reason, and you should explore the topic more deeply! The most important advice we can offer is:
Don’t get stuck on the basic surface level. Explore the larger organizational paradigm it brings with it.
- Tuomas SyrjänenCo-Founder, AI Renewal/Artificial Officer