25 July 2024
Identify the Right Gen AI Projects to Pursue
Gen AI is here to stay, and while it brings the possibility of much greater productivity and performance, determining when—and whether—these tools are really of value requires considerable effort. How can you and your team identify the right gen AI projects to pursue? Here’s where to start.
(1) Fund “responsible rebels.” Every organization has people who are eager to innovate and challenge the status quo. Empower them to experiment and drive value—without causing chaos. For example, have a small innovation fund with a fixed amount of funding, and require project teams to present to a senior group of operating executives to get funding.
(2) Choose practical, quick-win projects. Opt for gen AI projects with fast cycle times and clear outcomes that you can measure within a fiscal year. It’s also important to choose projects where costs and benefits reside in the same organizational unit to ensure prioritization and support.
(3) Link to the firm’s identity. Align gen AI projects with your organization’s purpose and key goals. Return to the core mission statement and articulate how these projects help the company fulfill its promise to all of its stakeholders.
This tip is adapted from “The 6 Disciplines Companies Need to Get the Most Out of Gen AI,” by Tom Davenport and John J. Sviokla
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