Is Your Knowledge of Generative AI Up to Date? Discover Where You Stand!

The AI landscape is rapidly evolving, making it challenging for CIOs and data executives to determine their priorities.

In this week's CarCast, tech entrepreneur Bruno Aziza reviews insights from Scale AI’s AI Readiness Report, highlighting essential questions every executive should ask about generative AI.

Key Highlights from the AI Readiness Report (0:03/14:43)

- Adoption: Companies with no plans for generative AI have dropped from 19% last year to just 4% this year.

- Production: The percentage of companies in production has grown from 21% last year to 38% this year.

- Challenges: The primary barrier to deploying generative AI remains security and governance.

Crucial Questions About Generative AI:

1. How can you identify the right generative AI use cases to pursue?

2. How should you budget for generative AI initiatives?

3. When is it inappropriate to use generative AI?

Generative AI Use Cases:

There are three key areas for considering generative AI applications:

1. Internal Customers: This approach offers low risk and high reward. It can enhance data quality and boost productivity across teams, such as generating content for marketing, providing code assistance for developers, or summarizing information for finance and support roles. For example, Twilio uses generative AI to help representatives quickly find answers and summarize calls.

2. External Customers: This includes applications like chatbots for customer service and context-driven tools such as Wayfair's Decorify, which allows users to upload photos of their living spaces to receive tailored product suggestions.

3. Embedding Generative AI in Existing Applications: This method is powerful for targeted use cases that rely on legacy or established applications, such as ERP, HCM, or CRM systems. While the data involved may not be extensive, its value and sensitivity are significant, necessitating careful selection criteria for these use cases.

For more insights on data strategies and emerging trends, explore DataDecisionMakers, where data professionals share up-to-date information and best practices. Consider contributing your own article to foster innovation in the field.