Aside from the early mover advantage and the talent edge, there isn’t necessarily a perfect formula for generative AI implementation success, or ROI. Any consultancy that tells you so is probably trying to sell you something.
Rather than obsess over the perfect plan and fear failure while standing in place, it’s better to take action with a clear understanding of the risks, and how to mitigate them.
Our generative AI ethics and governance task force has identified five key risk categories, through researching hundreds of generative AI PoCs internally and externally:
1. Model and technology risks: Choosing the right AI architecture for cost, speed and scalability
2. Customer experience risks: Ensuring AI-generated content is relevant, clear and useful
3. Customer safety risks: Preventing AI from generating harmful or biased outputs
4. Data security risks: Protecting proprietary and sensitive information
5. Legal and regulatory risks: Staying ahead of evolving AI laws and ethical considerations
This article breaks down each risk area and provides strategies to mitigate them, so that you can move forward to the most important thing: action.