DECEMBER 20249 when developing AI digital products: buy, build, or a hybrid approach. Purchasing AI solutions offers quick access but often comes at a higher cost and lacks a unique competitive edge since these solutions are available to everyone. This approach is suitable for acquiring generic AI tools necessary to maintain industry standards. Many business applications and technology vendors are now integrating AI into their product portfolios to stay relevant. Businesses should meticulously assess these off-the-shelf tools to ensure they fit seamlessly and require minimal customization.Consider building AI digital products internally for strategic areas that can drive business competitiveness. The concept of an "AI factory" can help visualize what's needed for success. Essential components include AI infrastructure (such as selecting a cloud provider), deciding whether to develop foundational models or leverage open-source or commercial models via APIs and assembling the right team with the necessary capabilities. Organizations already on a digital transformation journey might have existing in-house capabilities to build on. At the same time, those new to AI must focus on developing both technical and non-technical skills.Data is the cornerstone of this transformative journey and is vital for creating AI products. Without quality data, businesses are constrained to using public or external data, which limits AI's potential. Robust data governance and comprehensive data repositories--such as data lakes, warehouses and lakehouses--accelerate AI development by providing rich, relevant business data.Once AI products are developed, the subsequent challenge is technology adoption. Organizations often face varying difficulty levels in this regard, from management to operational levels. Demonstrating the benefits and making AI as user-friendly as possible is vital. The rapid success of ChatGPT, which reached 100 million users in record time, underscores the importance of clear benefits and ease of use.Finally, revisiting the original business goals is crucial to evaluate whether the AI investment yields the expected benefits. With well-planned steps and diligent follow-through, the likelihood of achieving these goals significantly increases.Embarking on an AI transformation journey requires vision, strategic planning and meticulous execution. By treating AI as a digital product, focusing on clear business outcomes, choosing the right development path, prioritizing quality data, facilitating technology adoption and continuously assessing progress against business goals, organizations can navigate the generative AI era with confidence and success.This journey is not just about implementing technology; it's about transforming how we do business, enhancing capabilities and creating new opportunities. As we continue to innovate and evolve, the integration of AI will undoubtedly serve as a cornerstone for future growth and sustainability. The future is brimming with possibilities and with the right approach, we can harness the power of AI to drive unparalleled transformation and achieve remarkable business outcomes.Now is the time to act. Embrace the generative AI revolution and become a pioneer in this transformative era. By leading with vision and commitment, you can propel your organization to new heights of innovation, efficiency and success. Let's seize this opportunity together and shape a future where AI is not just a tool but a catalyst for enduring progress and prosperity. BY TREATING AI AS A DIGITAL PRODUCT AND ALIGNING IT WITH CLEAR BUSINESS OUTCOMES, ORGANIZATIONS CAN CONFIDENTLY NAVIGATE THE GENERATIVE AI ERA, TRANSFORMING THE WAY WE DO BUSINESS AND CREATING NEW OPPORTUNITIES FOR GROWTH AND SUSTAINABILITY
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