How Can CIOs Build An Effective Generative AI Strategy?
CIO, Wednesday, May 15th, 2024
2023 was the year of Generative AI (GenAI). Businesses rapidly moved to adopt GenAI tools and LLMs, such as ChatGPT, Microsoft CoPilot, and Google Gemini. The consequence of this GenAI movement is that AI is now a top issue for CEOs, leading them to ask CTOs and CIOs how they are implementing AI.
For the CIO, this means they need to develop an AI strategy detailing how internal teams use AI, and how to keep the organization secure, even as these teams experiment with new tools.
Growing out of control?
If 2023 was the year of AI exploration, then 2024 will be the year of action. According to Forrester, investment in AI software will grow 50% faster than the wider software market. A recent PagerDuty survey also found that 71% of businesses are looking to expand investments in AI and machine learning (ML) in the next year. This rapid investment in, and expansion of, AI tools within businesses poses a particular headache to CIOs, who must ensure that everyone in the organization uses AI in a compliant way.