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The Coming Year: GenAI Enters The Roll-Up-Our-Sleeves-And-Get-To-Work Phase
As the clock strikes midnight on December 31, 2024, it’s time to bid adieu to the hype and get down to business with generative AI (GenAI). According to Gartner, the consultancy that coined the term “hype cycle,” GenAI has reached the Peak of Inflated Expectations. It’s no longer about getting excited over the novelty; it’s time to focus on delivering tangible results.
Industry leaders agree that the honeymoon period is over, and it’s time for hard work and dedication to bear fruit. While AI has garnered significant attention in recent years, Sri Elaporu, global head of the AWS Generative AI Innovation Center, notes that companies are already seeing real benefits from GenAI. This is not a fleeting fad, but rather a technology with genuine potential.
However, it’s crucial to acknowledge the concerns surrounding AI adoption. Enterprises have expressed reservations regarding data privacy, integration with existing systems, model selection, and skill gaps. Moreover, Elaporu emphasizes that knowing where to start often proves to be the most significant barrier to entry. The transition from proof of concept to a productized service is also deemed the most difficult step in GenAI adoption.
In light of these challenges, Steve Chase, vice chair of AI and digital innovation at KPMG, stresses the importance of a human-centric approach. This involves robust change management, training, and communication efforts. Elaporu agrees that it’s essential to engage employees on an emotional level, utilizing storytelling techniques to demonstrate practical applications and celebrating successes.
It’s equally vital to retrain and upskill employees to take advantage of AI technology, as many organizations lack the necessary expertise to do so effectively. Furthermore, Chase advocates for integrating AI capabilities into tools or workflows that employees are already familiar with, rather than requiring them to navigate another system.
As we enter a new year, it’s clear that GenAI has entered its roll-up-our-sleeves-and-get-to-work phase. The time for grandiose promises and unfounded hype is over; it’s now about making tangible progress and addressing the aforementioned concerns.
Source: www.forbes.com
