EXECUTIVE INSIGHT
Collectively we ’ ve calmed down since then . It ’ s apparent that Gen AI can genuinely do some things well and others poorly . Some of the things it does well are firmly in the cool and entertaining category . There are a few things that represent true business value to companies prepared to adjust their human processes . I expect that businesses will put these use cases into productive use in 2024 . As much as we technologists would like to see AI as a well-established field , the fact is that it ’ s very early days indeed and anyone adopting these use cases in 2024 is an early adopter . It will be years before Gen AI is a widespread common use .
Gen AI offers valuable support to software developers by generating initial code drafts , saving up to 50 % in development time . Additionally , it extends its efficiency to textual documents like reports , saving 30-40 % of writing time . The platform ’ s natural language processing capabilities facilitate swift and accurate queries across vast repositories of documents , videos , or audio files – an application known as enterprise search . Notably , Gen AI excels in summarising long documents or videos emphasising key points for enhanced comprehension . These are just some examples of applications that are truly useful .
Q . YOU ’ VE SAID IN THE PAST THAT COMPANIES WILL OFTEN ADOPT AI ‘ FOR THE SAKE OF IT ’. WHAT MUST BUSINESSES BE MINDFUL OF WHEN CONSIDERING THEIR AI STRATEGY ?
» AI , whether generative or not , is a collection of tools . When you want to build a beautiful kitchen , you will not ask the wrench to be good looking but useful . When applying AI , it is the business
PATRICK BANGERT
TITLE : SENIOR VICE PRESIDENT DATA , ANALYTICS AND AI
COMPANY : SEARCE
A senior technology executive with an established reputation in AI and data science , Patrick Bangert leads teams to develop new AI technologies . Having been at Searce since April 2023 , Bangert leads two global business units focused on setting policies for data and analytics and AI and collaborating with cloud providers .
outcome that should concern us and not the tool . The conversations often turn this around as vendors dominate the media debate to sell their tools . Some top-level leaders have declared that they will adopt AI and then asked their teams to find application areas . That is putting the cart before the proverbial horse .
Additionally , AI is one tool but not the only tool needed to reap the benefits . Other tools , some software , and some hardware , will have to be integrated . Most importantly , humans will have to be trained and motivated to participate in the complex change management process that is necessary to implement a new AI-based initiative .
It is common knowledge that approximately 80 % of all AI projects fail . However , they do not fail because the software or mathematics don ’ t work . Far from it . They fail because users either do not use the tools or use them incorrectly .
My advice is to focus on the challenge and its business value . If AI is the right tool ,
20 March 2024