The impact ChatGPT has and will have on many aspects of our life and work is undeniable.Coding, art, music, work efficiency, you name it. That is also one of the reasons that many companies are reassessing their positions, strategies and plans based on the most recent developments in generative AI. Here are some general things to consider, kind of a framework, when you start your strategic journey:
- Get to know ChatGPT - it is a bit like the famous person you've heard so much about. You have the impression you know them already even though you've never met. Take the time to get to know them - you can even create a study group in your organization, to make things a bit more fun, that will assess the advantages and drawbacks of generative AI and their potential impact to the business you are into. The more you know the safer you are, because - information is power :)
- Gaining competitive advantage - if you just go ahead and say "I want ChatGPT" in my project/solution/organization in order to be an early adopter, it doesn't guarantee you success in comparison to your competition. However, being a leader who knows how to assess the impact of trends will get you much further. Returning to point 1 - if you have learned the facts about the new trend, try to have an initial impact assessment, and draw conclusions and actions from there, test, validate and iterate.
- Make sure to have the right use cases - if the decision is to move forward with implementing generative AI solutions for your business, make sure you understand the motivators behind the implementation - which problems are you solving for your organization/project? What are the key returns on investment (ROIs) that you look for? What would concrete use cases look like? What are the key investment drivers (e.g. efficiency gains, competitive advantage)?
Rushing into things may cost you unnecessary stress and investment losses. Don't be scared by the 200 products that come out weekly based on LLMs (large language models) - they may be solving niche problems for niche industries, they may be solving even something for you, but how will you know the answer if you don't ask the right questions?
