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The 2024 Enterprise AI Readiness Radar report from Infosys , a digital services and consulting firm, found that only 2% of companies were fully prepared to implement AI at scale and that, despite the hype , AI is three to five years away from becoming a reality for most firms. What are we trying to accomplish, and is AI truly a fit?
Registered investment advisors, for example, have to jump over a few hurdles when deploying new technologies. Part of it has to do with things like making sure were able to collect compliance requirements around AI, says Baker. Gen AI is still in its early days and the company is concerned about safely integrating the technology.
And in August, OpenAI said its ChatGPT now has more than 200 million weekly users — double what it had last November, with 92% of Fortune 500 companies using its products. The use of its API has also doubled since ChatGPT-4o mini was released in July. The AI can go deeper than a Google search.”
As VP of cloud capabilities at software company Endava, Radu Vunvulea consults with many CIOs in large enterprises. Secure storage, together with data transformation, monitoring, auditing, and a compliance layer, increase the complexity of the system. But digital sovereignty issues are a different matter, says Woo.
Since the introduction of ChatGPT, the healthcare industry has been fascinated by the potential of AI models to generate new content. However, the effort to build, train, and evaluate this modeling is only a small fraction of what is needed to reap the vast benefits of generative AI technology. Consider the iceberg analogy.
The impact of generative AIs, including ChatGPT and other large language models (LLMs), will be a significant transformation driver heading into 2024. Abhijit Mazumder, CIO of Tata Consultancy Services, says, “Transformation priorities should fundamentally link to business priorities and what any respective organization is trying to achieve.
Plus, when you add in cloud-based gen AI tools like ChatGPT, the percentage of companies using gen AI in one form or another becomes nearly universal. And this doesn’t include the gen AI that’s now being embedded into platforms like Office 365, Google Docs, and Salesforce. We’re foundationally a technology company,” she says.
Beyond the ubiquity of ChatGPT, CIOs will find obvious advantages working with a familiar enterprise supplier that understands their needs better than many AI startups, and promises integrations with existing enterprise tools. It’s embedded in the applications we use every day and the security model overall is pretty airtight. That’s risky.”
In mid-November, OpenAI’s board fired the CEO of the company, Sam Altman, the guy who put ChatGPT on the map and ushered in a new era of corporate AI deployments. Putting aside the fact this is an astronomically high adoption rate for a brand new technology, it’s also an indicator of how risky this space is. Do they have a moat?
The company also prohibits staff from using ChatGPT to write letters to clients. When it comes to ChatGPT, the only utilization in my practice is the way we go about creating our marketing strategy on social media—getting ideas, generating scripts, seeing what it can provide us as inspiration for new content. The risk is too high.”
At least with things like ChatGPT, DALL-E 3 and Midjourney, there’s constant interaction with humans,” he says, adding that with agentic AI, there’s potential for autonomous decision making. It makes sense that development is the top agentic AI use case, says Babak Hodjat, CTO of AI at Cognizant.
Barnett, in collaboration with a consulting firm, ultimately landed on the winning strategy: a mirrored production electronic medical records (EMR) environment in a cloud-hosted infrastructure. From the start of this initiative, Moderna’s IT leadership recognized the privacy concerns associated with using an external platform such as ChatGPT.
And there are dangers of moving too fast,” including bad PR, compliance or cybersecurity risks, legal liability, or even class-action lawsuits. Since ChatGPT was launched in late 2022, many companies have gotten into trouble by deploying it too quickly. We have to balance the speed of innovation with compliance and safety,” he says.
Existing generative AI platforms like OpenAI’s ChatGPT, Google Bard, or Stable Diffusion aren’t trained on 3D images of teeth. SmileDirectClub built their own generative AI, using their own data set, on their own servers, in compliance with HIPAA, GDPR, and other regulations. Insight, for example, runs OpenAI’s GPT 3.5
The Boston Consulting Group, in fact, says companies that have adopted AI early claim 1.5 For its automated compliance system, RSM fine-tuned an OpenAI model, mapping government regulations around the world to client internal controls and making recommendations. Were definitely not going slow, says Abe Kuruvilla, the companys CTO.
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