Organisations that actively maximise the potentials of generative AI (genAI) will experience acceleration in business growth and outpace their competitors, according to a recent report by Forrester.
The report also revealed that the number of enterprises in the experimentation and expansion stages of implementing genAI jumped from 62% to 71% between July and September 2023, the fastest mass adoption rate of a new technology in the enterprise.
GenAI success
However, to succeed with genAI solutions, organisations need full enterprise support and positivity towards the technology to harness its full potential.
Forrester suggests organisations make trust an intrinsic part of their enterprise’s genAI foundation for long-term success. The awareness and training on privacy and security will empower employees and users to use genAI solutions more confidently.
Staying focused on practical, measurable use cases such as augmentation or transformation of an existing product, service, or business process is also vital for organisations. When using genAI initially, organisations can prioritise employee-facing projects or offline generation instead of real-time generation with a chatbot.
Organisations need to explore and invest in known and emerging genAI skills for constant upskilling of employees and leaders.
Forrester also recommends differentiating by relying on organisations’ business data to build genAI models and applications.
Long-term competitive advantage
Srividya Sridharan, VP and group research director at Forrester says, “The mass adoption of generative AI has transformed customer and employee interactions and expectations. As a result, genAI has catapulted AI initiatives from ‘nice-to-haves’ to the basis for competitive roadmaps.”
