GenAI without a plan – the quick way to crash your AI strategy

Over the past year, more and more companies have begun implementing generative AI (GenAI) in their operations. But jumping on the AI bandwagon without a solid foundation can lead to the failure of the long-term strategy.

According to McKinsey's report “State of AI in early 2024” The number of organizations regularly using GenAI has doubled to 65 percent. But don’t get stressed by its growing popularity – hasty implementation risks leading to unreliable solutions that hurt rather than help business results.

Yohan Lobo, Senior Industry Solutions Manager at https://www.m-files.com/en/M-Files emphasizes the importance of building a solid foundation before GenAI becomes a central part of business processes.

– Many people have exaggerated expectations of what GenAI can achieve, and with the right strategy, the technology can add real value in a range of areas. But an effective GenAI strategy requires structured data that is organized and searchable, otherwise the results will be unreliable and could compromise both security and regulatory compliance, says Yohan Lobo.

Laying the foundation for AI using data quality

GenAI can, among other things, summarize documents, create content and translate texts, but Yohan Lobo wants more people to become aware of the risks of hasty implementations.

– To be fully prepared for AI, we must business conduct a thorough data audit and ensure that internal data is comprehensive and reliable. If GenAI tools Relying on external data sources without insight into their origin risks making decisions based on uncertain sources. This is one of the biggest pitfalls for businesses who implement GenAI without first securing the data base, he says.

Automation and GenAI in balance

You also shouldn't focus solely on Gene AI and forget about other efficiency solutions, such as automating repetitive tasks. Automated systems can handle large volumes of work quickly and accurately, freeing up time for employees to focus on more strategic and creative tasks. In addition, automation reduces the risk of manual errors, improves security, and enhances the customer experience.

“A long-term sustainable GenAI strategy is built on a combination of properly organized data and effective automation of routine tasks. Companies that balance these two elements can leverage AI in a way that is safe, reliable, and contributes to real business value,” concludes Yohan Lobo.