Generative AI (GenAI) is one of today’s most exciting technologies, offering potential to improve productivity, creativity, and customer service. But for many companies, it becomes like a forgotten gym membership, enthusiastically started, but quickly abandoned.
So how can businesses make sure they get real value from GenAI instead of falling into the trap of wasted effort? Success lies in four key steps: building a strong plan, choosing the right partners, launching responsibly, and tracking the impact.
1. Set Up a Strong Governance Framework
Before using GenAI, businesses must create clear rules and processes to use it safely and responsibly. This is called a governance framework. It helps prevent problems like privacy violations, data leaks, or misuse of AI tools.
This framework should be created by a group of leaders from different departments—legal, compliance, cybersecurity, data, and business operations. Since AI can affect many parts of a company, it’s important that leadership supports and oversees these efforts.
It’s also crucial to manage data properly. Many companies forget to prepare their data for AI tools. Data should be accurate, anonymous where needed, and well-organized to avoid security risks and legal trouble.
Risk management must be proactive. This includes reducing bias in AI systems, ensuring data security, staying within legal boundaries, and preventing misuse of intellectual property.[…]
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