CEOs want to know if they should act now—and, if so, how to start. Some may see an opportunity to leapfrog the competition by reimagining how humans get work done with generative AI applications at their side. Others may want to exercise caution, experimenting with a few use cases and learning more before making any large investments. Companies will also have to assess whether they have the necessary technical expertise, technology and data architecture, operating model, and risk management processes that some of the more transformative implementations of generative AI will require.
The goal of this article is to help CEOs and their teams reflect on the value creation case for generative AI and how to start their journey. First, we offer a generative AI primer to help executives better understand the fast-evolving state of AI and the technical options available. The next section looks at how companies can participate in generative AI through four example cases targeted toward improving organizational effectiveness. These cases reflect what we are seeing among early adopters and shed light on the array of options across the technology, cost, and operating model requirements. Finally, we address the CEO’s vital role in positioning an organization for success with generative AI.