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Leveraging AI for Business Success — 5 Aspects to Consider

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Phani Madhav Chegu,

August 2, 2023

Leveraging AI for Business Success — 5 Aspects to Consider

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Generative Artificial Intelligence (Gen AI) — a novel technological paradigm that dramatically altered the business landscape. The state-of-the-art development has ushered in a productivity revolution, empowering companies to optimally use their resources and delight their customers. According to a study conducted by McKinsey & Company, Gen AI could add the equivalent of USD 2.6 trillion to USD 4.4 trillion to the global economy annually.

Would you too like to harness the immense potential of Gen AI to maximize your organizational productivity, and thereby boost your revenues in a big way? What does it take to make the best use of this cutting-edge innovation? You must focus on 5 key aspects. Today, we’ll see what they are and how they empower your firm to unleash the tremendous power of Gen AI to achieve business success.

5 Best Practices of Using Gen AI to Achieve Rapid Growth

1. Ensure Your Data Is of High Quality

Gen AI allows you to manage your relationships with clients with high levels of efficacy, but it’s possible only when you’ve data that is precise, fully-updated, easily-accessible, consistent and complete. Why is this important? Your business makes decisions based on the latest information in your database. But if the information is inaccurate or incorrect, your Gen AI tools use this information of poor quality.

When you train your language models for Gen AI tools, make sure you use first-rate data; take steps to eliminate duplicate records, outliers, mistakes and other anomalies that can negatively impact your ability to make decisions. Then integrate all sources of data — marketing, sales, customer support and e-commerce – into a unified record, updated in a timely manner, so the AI-powered tools can deliver the right recommendations. 

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2. Create an Environment of Trust and Credibility

You must build trust — that you take all necessary steps to ensure the safety of client information and use Gen AI in an ethical manner. It’s advisable to team up with a technology organization of repute to set up robust protective mechanisms to prevent misuse of AI-enabled tools. Develop effective information security frameworks to ensure safe usage of data contained in Large Language Models (LLMs), the computer programs used to train AI-based algorithms.

It’s also essential to see data privacy norms are not violated – set up well-defined processes to mask sensitive data, detect toxic behavior, ground data and ensure no data is stored outside your systems. These safeguards help you ensure data is secure and used the right way, facilitating successful use of Gen AI.

3. Enable Reorganization of Your Business Around Gen AI

A study by researchers at Harvard University revealed AI-adoption programs face significant organizational challenges and these challenges can be overcome by aligning the culture of companies to support the implementation of the programs. It is highly advisable to establish cross-departmental AI task groups to identify the best possible ways to adopt AI rapidly, without hassles. You can also consider setting up an AI governance committee to provide guidance to technical teams and set accountability standards for the use of AI.

A well-known multinational company developed a global hub and spoke framework to facilitate smooth usage of AI. Under this framework, each department of the company (spoke) has an AI product owner and change enabler who collaborates with the company’s technology competency center (hub) to identify new use cases for AI, delivering technological support and ensuring adoption by employees.

4. Develop the Required Skills to Use AI Effectively

AI is rapidly-evolving, and the corporate world is eager to make the best use of the novel paradigm to meet its needs. However, many companies lack people who have the skills needed to utilize AI effectively — a recent survey shows more than 3 out of 5 business leaders are actively considering embracing Gen AI, but opine their workforce lacks the abilities to use it with high efficacy.

It is important to conduct a thorough assessment of your talent and determine whether you can achieve your AI goals with the skills your employees currently have. This will help you identify the lacunae and prioritize the acquisition of those abilities. You can then formulate a suitable talent-acquisition plan and deliver necessary training to members of your team workers on Gen AI. You can consider using on-demand learning resources to develop key skills and offering incentives to employees to learn new skills.

5. Create a Glossary of Gen-AI-related Terms

You needn’t be an IT wizard or a data specialist to comprehend the opportunities and risks presented by Gen AI and communicate the same to your people in an effective manner. Having said this, it’s important to have a holistic view of the novel phenomenon and how you can weave it seamlessly into the fabric of your organizational culture. You also need to have a good idea of how to govern the use of Gen AI in your organization and provide the necessary infrastructure to utilize the innovative paradigm with high efficacy.

It’s essential the leaders of your company hold meaningful conversations with your technical team to ensure the successful adoption of Gen AI. It’s advisable to compile a glossary of frequently-used AI terms to enable everyone in the organization — irrespective of their technical background – to get a good idea of what Gen AI can do. Define each term based on how it impacts your team and clientele to facilitate a deeper understanding of Gen AI’s capabilities.

Thus, by implementing the 5 best practices listed above, you can ensure smooth adoption of Gen AI in your organization. At Solunus we work with you to make the best use of AI to facilitate informed decision-making and delivery of excellent experiences to your customers. The rich experience of our team gained helping companies of all sizes across diverse sectors allows us to deliver the perfect solution that creates the best value.

Hope you liked this post. How did you implement Gen AI in your organization? We’d love to know.

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About Solunus

Solunus is a leading Salesforce consulting company, based in Dallas, TX, USA. Our proven ‘needs-first’ approach coupled with our unrivaled expertise of the Salesforce platform enables us to provide the perfect solution to help you deliver delightful services to customers and achieve rapid growth.