04/17/2024 | Press release | Distributed by Public on 04/17/2024 11:29
A recent study shows US organizations are enthusiastic about generative AI's potential for increasing their business and people productivity. But beneath surging enthusiasm, leaders see understanding gaps, a lack of strategic planning and the talent famine as obstacles to realizing and measuring the technology's full value.
The study, conducted earlier this year by Coleman Parkes Research Ltd. and sponsored by SAS, surveyed 300 US GenAI strategy or data analytics decision makers to pulse check major areas of investment and the hurdles organizations are facing. Coleman Parkes also surveyed leaders outside the US for this study. Those global results will be available later in 2024. Learn more in this US Executive Summary, Generative AI Challenges and Potential Unveiled: How to Achieve a Competitive Advantage.
"Organizations are realizing that large language models alone don't solve business challenges," said Marinela Profi, Strategic AI Advisor at SAS. "GenAI should be treated as an ideal contributor to hyper automation and the acceleration of existing processes and systems rather than the new shiny toy that will help organizations realize all their business aspirations. Time spent developing a progressive strategy and investing in technology that offers integration, governance and explainability of LLMs are crucial steps all organizations should take before jumping in with both feet and getting 'locked in.'"
Organizations are hitting stumbling blocks in four key areas of implementation:
"It's going to come down to identifying real-world use cases that deliver the highest value and solve human needs in a sustainable and scalable manner," said Profi. "Through this study, we're continuing our commitment to helping organizations stay relevant, invest their money wisely and remain resilient. In an era where AI technology evolves almost daily, competitive advantage is highly dependent on the ability to embrace the resiliency rules."
Today's announcement was made at SAS Innovate, the data and AI experience for business leaders, technical users and SAS Partners. Keep up with the latest news from SAS by following @SASsoftwareNews on X/Twitter.