A Strategic AI/ML Assessment and a Comprehensive Investment Plan Need to be Considered Before Implementation.

In the face of growing interest and questions surrounding artificial intelligence (AI) and large language models (LLMs) like ChatGPT, executives must navigate between two extremes: ignoring the impact of AI or making hasty investments without a coherent strategy.

To capitalize on the power of AI while aligning with the specific needs of each organization, I suggest a Strategic AI Assessment. This assessment provides a trusted third-party perspective on approaching AI and LLMs, identifying opportunities for internal and external applications, understanding the competition in the marketplace, determining required resources, and establishing AI-related policies to mitigate risks.

The Strategic AI Assessment consists of three steps:

Step 1: Understanding strategic business objectives and the current AI/LLM landscape. This involves assessing an organization’s goals, product portfolio, market strategies, industry norms, and existing AI capabilities. Competitor analysis helps identify areas for innovation or potential threats to the organization’s offerings.

Step 2: Articulating use cases and analyzing impacts, costs, and risks. Use cases are developed to explore where AI and LLM technologies can significantly impact. The assessment evaluates resources, costs, and risks (including information security and bias), and recommends changes, investments, and AI policies. The assessment also explores various tools and vendors to find the most effective and cost-efficient solutions.

Step 3: Develop a roadmap. A roadmap is created to sequence investments and prioritize actions over the desired timeline. This roadmap aligns AI deployment with broader business goals, compliance requirements, and organizational culture and resources.

The goal of the assessment is to provide organizations with a comprehensive understanding of the AI landscape, enabling strategic investments that meet their specific needs. By following the roadmap, organizations can deploy AI technologies strategically and position themselves for success.

Through the Strategic AI Assessment, the aim is to bring clarity and confidence to organizations evaluating AI technologies, ensuring they make informed investments aligned with their business objectives.