Embracing Generative AI: Managing Risks and Unlocking Business Value

Looking down a winding road that runs through autumn-colored foothills

The rapid advancement of generative AI and chat-type AI is revolutionizing the way we work, transforming the competitive landscape, and redefining the rules of business. As this technology continues to evolve, it's becoming increasingly important for organizations to stay ahead of the curve and proactively harness its potential.

It's equally important to be aware of the risks associated with generative AI. For example, employees may already be using public generative AI platforms, potentially putting sensitive internal information at risk.

Embracing generative AI effectively requires a strategic, proactive approach that balances risks and opportunities. Learn how to unlock the full potential of generative AI, drive business success, and stay ahead of the curve in an increasingly AI-driven world with the following insights.

Establish Control with an Internal Deployment

An internal deployment enables organizations to maintain control over sensitive information and keep it confidential. By proactively deploying generative AI internally, organizations can manage risks while unlocking the technology's vast potential.

A critical component of an internal deployment is training and change management. Educating employees on the effective use of generative AI is vital to realizing its benefits while minimizing risks. By highlighting the capabilities of generative AI and providing guidance on its responsible use, organizations can empower employees to leverage this technology to drive business value.

Internal Deployments in Action

A significant business use case for generative AI is the creation of accessible, chat-based knowledge bases. Imagine having all policies, procedures, and manuals easily accessible in a conversational format, allowing employees to ask questions in natural language and receive quick responses. This can lead to significant efficiencies, improved knowledge sharing, and better utilization of institutional knowledge. By providing employees with better access to information, organizations can unlock new levels of productivity and innovation.

Maintain a Realistic View

However, amidst the excitement surrounding generative AI, it's essential to tame the hype and separate the reality from the rhetoric. While generative AI has the potential to transform industries, it's crucial to approach its adoption with a clear-eyed view of its limitations and challenges. By doing so, organizations can avoid the pitfalls of overpromising and underdelivering, and instead, focus on realizing tangible business benefits.

To fully realize the benefits of generative AI, organizations must adopt a holistic approach that addresses both the opportunities and risks associated with this technology. By taking a proactive, managed approach to deploying generative AI internally, organizations can:

  • Manage risks associated with sensitive information
  • Empower employees with new tools and capabilities
  • Unlock business value through improved productivity, innovation, and knowledge sharing
  • Stay ahead of the competition in an increasingly AI-driven landscape

Moreover, by adopting a measured approach, organizations can avoid the common pitfalls of generative AI adoption, such as:

  • Unrealistic expectations: Overpromising on generative AI"s capabilities of can lead to disappointment and disillusionment.
  • Lack of governance: Failing to establish clear guidelines and protocols for generative AI use can lead to security breaches and data leaks.
  • Insufficient training: Without proper education and training, employees may struggle to use generative AI effectively, leading to reduced productivity and adoption rates.

We’re Here to Help

To learn how an internal generative AI framework can unlock your organization’s business potential, contact your Moss Adams professional.

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