Insights from our experts

Writing a blog about technology in 2024 would be impossible without exploring the impact of generative artificial intelligence (gen AI). It has influenced almost every aspect of technology implementation, production, and management.

With this in mind, here is some advice I would give to technology leaders in 2024:

1. Remove business and technology boundaries

CIOs and CTOs grapple with technology troubles that are often difficult to explain to other members of the C-suite. It can take a long time to convince a CEO, CMO, or CFO that it's time to:

• Review a process that has outgrown its purpose
• Introduce new technology
• Enhance existing technology

Thankfully, generative AI is finally breaking down these barriers. I've had conversations with CEOs who understand gen AI and its potential more deeply than their technology counterparts. For 2024 and beyond, it's time to build a plan where business and technology leaders don't need to clash. Instead, everyone can work together toward a common goal.

2. Give power to your people

Many technology leaders started to panic when generative AI took off, and their impulse was to lock everything down. Luckily, Genpact had been experimenting with gen AI long before the boom, and we see the value in securely opening things up. In fact, we have 60,000+ employees using our generative AI playground tool.

Think of generative AI like a magic wand. If wielded carefully, its power is unmatched. In the year ahead, focus on democratizing access so employees across the business can experiment and explore safely and securely.

Another tip – use what's already available. While many businesses wasted time building large language models (LLMs), others found ways to make existing models work for them. For example, we used preexisting LLMs to create a translation model for a client in just two days, a process that could have taken months to build from scratch. Strategic moves like this are how businesses will win the innovation war.

3. Invite ideas to fuel innovation

With any technology, think beyond how you use it today. Instead, consider what value it can deliver for your business long into the future. Your employees are undoubtedly the best people to provide those ideas.

So, encourage your employees not to passively use generative AI but to look for ways to enhance it. Across operations, finance, marketing, or sales, every business function will have ideas on how to do more with gen AI. Turning these visions into reality will be the key to delivering better experiences for your employees and customers.

4. Enhance employees to control costs

Many businesses worry about generative AI displacing jobs or being an expensive tool to manage, which is why we need a mindset shift. I often think of generative AI as a digital tool. It's almost useless on its own, but you unleash its power when it's adopted and used by a human. When you do this successfully, the cost savings soon follow.

Think about midlevel and junior employees. Suppose junior employees can take on midlevel tasks, with gen AI handling much of the cognitive effort. In that case, midlevel employees are suddenly free to focus on more strategic work. Employees are effectively doing more in less time, but they feel empowered, not exploited. It's a win for everyone.

5. Personalize training for continuous learning

With technology, nothing is a linear journey. It's uncharted and continuous, with many unexpected twists and turns. It helps to have employees who can act with agility and rise to any occasion, so you mustn't overlook the importance of training and development.

Everyone knows a personalized experience is far more memorable than a generic one, so use generative AI to create bespoke and relevant employee training experiences. It's why we've used Genome, our collaborative learning platform, to train thousands of employees on gen AI in a way that applies to their role.

New year, a new mindset

With these pieces of advice at the forefront of your mind in 2024, nothing is holding your business back from using generative AI to build a technology landscape that far outpaces your competition.

Learn more about our technology service practice.

This blog is authored by Vikrant Karnik, Genpact's Global Business Leader of Cloud and Technology services.