Successful Adoption of Generative AI in Business

Digital transformation' has been a catchphrase for a while now. Large, medium, and even small enterprises are transitioning to more tech-oriented operations and interfaces.

- Sudip Bandyopadhyay

And it's true that using technology, such as Al for business, can deliver a strong competitive advantage. However, a study by BCG suggests that what's more important than investing in cutting-edge technology and algorithms is the rewiring of decision-making and operations to extract value. It also underscores the heightened significance of investing in human capabilities in today's landscape.

The BCG report reveals that pioneers of Al @ scale-the companies that have scaled Al across the business and achieved meaningful value from their investments typically dedicate 10% of their Al investment to algorithms, 20% to technologies, and 70% to embedding Al into business processes and agile ways of working. This essentially means that successful organizations have invested twice as much in people and processes as they have in technologies.

In the quest for achieving substantial financial benefits from technology, it's important to recognize that automation alone is not enough. To truly harness the potential of technology and drive growth, enterprise focus must shift towards learning and organizational transformation. Only through this symbiotic relationship between humans and technology can new opportunities be unlocked and adopted in a rapidly changing landscape.