McKinsey describes the initial road to implementing generative artificial intelligence (GenAI) as ‘organisational surgery’ – tough, necessary and strategic. While the technology can offer quick wins, ultimately its best value is found in a strategic approach that ensures every investment can scale and offer meaningful results. Like any technology, the move towards a resilient and capable GenAI environment requires planning, change management and a clear vision.
The proof of taking the strategic road can be seen in how GenAI is revolutionising industries. In manufacturing, it has the potential to radically improve efficiencies, improve product quality and help companies better manage the complexities that remain inherent within the supply chain. Predictive and proactive maintenance offer companies within this sector improved visibility and exceptional cost savings across reduced downtime and increased operational capacity. In the retail sector, GenAI can not only transform the back-end functions of warehousing, stock management and deliveries, but it can reimagine how companies connect with customers through personalisation and data-driven insights.
Whether it’s finance or pharmaceuticals or logistics, GenAI offers an open doorway to optimisation and revenue generation. It connects silos and data, and it enhances the capabilities of developers, marketers and sales teams.
GenAI: Determine the value
Finding the value that is touted in research, statistics and news headlines is key. Companies need a well-structured, forward-thinking strategy that’s driven by a C-suite that understands the potential of GenAI and takes the lead on its development and integration. This is where an effective GenAI roadmap is invaluable – it helps the business to execute and develop its strategy and take it along a road that aligns with business goals and future-proofs operations.
The most obvious question, then, is…how?
How can the C-suite step into a GenAI strategy that allows for them to extract the right value and longevity? It comes down to understanding the capabilities of GenAI within your business context.
Your business needs to outline precisely what it expects from GenAI across:
- The business value – how AI can automate processes, enhance decision-making, boost creativity, and improve customer experiences.
- AI readiness – define your technical infrastructure, skill sets, and the gaps that need to be addressed so you are prepared for the AI journey and understand exactly what complexities you’re facing.
- Strategy – a customised AI strategy that allows you to tailor your approach alongside your business goals and realistic KPIs.
- An AI team – learn how to upskill your employees, hire AI talent and create a culture of innovation that benefits from AI rather than pushes against it.
- AI pilots and scaling – identify the pilot projects that deliver high returns and strategies for scaling AI across departments.
- Return on investment (ROI) and risk mitigation – unpack cost management so projects remain within budget, assess risks, and determine the ethical considerations that accompany your AI integrations.
- AI integration into operations – gain visibility into how you plan on embedding GenAI within your systems so it can enhance your decision-making and ensure it aligns with your long-term business strategies around continuous business improvement.
GenAI: Expect value
A solid strategy and well-defined roadmap wedded to clarity around risks and costs means you will get value from your AI strategy. When you have an understanding of how GenAI can drive value in your organisation and follow a step-by-step guide to assess your AI readiness and build a robust AI strategy, then you are building a sustainable solution that will grow with your business.
Building a winning GenAI strategy that delivers measurable business transformation is as easy as knowing the way – rewatch the Mint webinar that unpacks everything you need to know for your journey. The webinar provides you with actionable insights and a comprehensive plan to harness the full potential of GenAI, and empowers your organisation to lead in the AI-driven future.
