Executive leaders are embracing Gen AI

Generative AI is expected to have a transformational impact on businesses. organizations already experimenting with generative AI are even more bullish about how it will monumentally change the way businesses are run.

GenAI presents an opportunity to accomplish things never before possible in the scope of human existence. CIOs and executive leaders will embrace the risks of using GenAI so they can reap the unprecedented benefits.

The rapid rise of generative AI, including large language models (LLMs) such as OpenAI’s ChatGPT/GPT-4, is creating new risks and regulatory challenges for businesses. Although it is still early, companies cannot afford to delay developing policies and practices regarding the use of these technologies.

The rapid rise of GenAI has put fire under the feet of regulators about mal-information as one of the risks associated with the increasing power and availability of GenAI to bad actors. Enterprises who maintain a close watch on bad actors, regulators and providers of tools and technology that help combat mal-information are likely to gain significant advantage over competitors.

This is the first year with GenAI at the heart of every strategic decision, and every other technology-driven innovation has been pushed out of the spotlight. GenAI has broken the mold and has kept building more excitement.

We have already witnessed how the Robotic technology is advancing rapidly, making robots viable for a growing number of front-line jobs from the factory floor to the warehouse to the retail store and beyond.

Going forward, various National governments will have a strong commitment to AI and are prioritizing strategies and plans that recognize AI as a key technology in both private and public sectors. Incorporating AI into long-term national planning is being reinforced through the implementation of corresponding acts and regulations to bolster AI initiatives.

Secondly, organizations can expand their talent pool by incorporating the use of digital charisma filter assistants to improve the congruency of interactions at all phases of recruiting and employment.

As use of generative AI progresses, organizations need to build risk management protocols that can foster growth, build trust and secure stakeholders’ confidence.

Dr. Deepak Kumar Sahu, President & CEO, VARINDIA