Navigating the GenAI Revolution: Balancing Speed with Prudence

Navigating the GenAI Revolution: Balancing Speed with Prudence
April 1, 2024

With its potential to transform workflows, streamline processes, and drive unprecedented efficiencies, it's no wonder that CIOs and CDOs have put GenAI at the top of their priority list. McKinsey predicts that GenAI innovations could add as much as $4.4 trillion annually to the global economy.

There is noticeable pressure on IT leaders to deliver GenAI projects. But in the race to adopt this new technology, I fear some organizations are moving too fast.

In order to make good on the promise this technology offers, I suggest IT leaders focus on two critical areas:

Skills engineering – Build a workforce that can understand and leverage GenAI. IT professionals have practical experience that complements GenAI, but the first step is recognizing what you don’t know and then educating yourself.

Creating a GenAI-friendly ‘Ecosystem’ – In order for GenAI to work in organizations, it needs to seamlessly integrate into and with other automation solutions. Any GenAI investment should integrate with:

1) A Digital Experience Platform that provides enterprise level visibility and proactive issue resolution; and

2) A self-learning enterprise cognitive chatbot that provides multilingual support and conversational AI; and

3) An automation framework for faster resolution (specifically one that integrates with existing IT infrastructure and applications).

Any ecosystem that’s made up of these three pieces will enable your GenAI investment to truly live up to its potential.

Don’t Build a House Without Any Locks

Of course, for all its positives, GenAI brings with it some risks regarding privacy and security. Here are some areas leaders can focus on to get more confident and secure in their investment:

Data access and control - Who has access to the data? How’s it being used? Will employees have control over their own personal information? These are all important questions those need to answer before investing in this technology.

Data breaches – Just like with any new technology, any vulnerabilities in its code, or the systems it interacts with, could be exploited and lead to data breaches and unauthorized access to sensitive information. CIOs must know what those potential vulnerabilities are, and what options you have available to implement a fail-safe.

Algorithm Bias and Discrimination - if your training data contains biases related to race, gender, or other factors, the AI technology might perpetuate, or even exacerbate, existing inequalities. This raises ethical concerns that can lead to discrimination in decision-making processes. It’s important you recognize those human biases and correct them because GenAI technology doesn’t have a conscience or an ethical code.

Lack of Transparency - The problem with technology that changes so fast is that the complexity of GenAI algorithms can make it difficult to understand how decisions are made. Make sure your team has a clear understanding of the logic and decision trees used, and they’re able to trace the reasoning behind them.

Regulatory Compliance - With the increasing prevalence of data protection regulations such as GDPR and CCPA, organizations must ensure that their use of GenAI complies with relevant laws and regulations (which are also in flux). It’s important you keep up with the latest policy and statutory developments so you’re not wasting time or investment in something that falls outside the confines of the law.

It’s Okay to Get Excited

Don’t get me wrong: Gen AI can and will do wonders for your organization, but it should only be used with an effective integration in a DEX platform (and any supporting automation tools).

There are issues of data privacy and security concerns that need to be dealt with effectively, but that’s the case with any new technology and innovation. Knowing where to start and what questions to answer will get you headed down the right path. The key is to keep moving forward and educating yourself about this exciting new technology and all it has to offer.

Rajal Sood is a Client Partner for Life science & Healthcare business in Europe at HCLTech and has 23 years of experience in the IT services industry. He's spent all his time helping reduce Cost, improve Time to Market, and create desired positive Business Impact for his customers. Learn More

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