Glenn Hofmann’s Post

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Chief Data Analytics Officer ► Executive Leadership ★ Data, Analytics & AI Expert

Amid the excitement around Generative AI and applications like ChatGPT, Google Bard, and Bing Chat, CIOs are evaluating whether this technology is just hype or a true game-changer. Implementing Generative AI involves balancing diverse perspectives and understanding its long-term impact on customers, operations, and workforces. CIOs must weigh business value, risk, and ethical concerns. Rackspace Technology polled over 80 CIOs from various industries at a recent forum. Key findings include: ✳️ 82% believe Generative AI will transform their industry and workflows. ✳️ 32% plan to implement a tool within the next 6 months. ✳️ Top barriers: regulatory/ethical concerns (54%) and data quality/availability (38%). This opinion piece by CDO Magazine offers six practical applications to help guide CIOs and CDOs in their strategic approach to effectively navigate the scope of generative AI and prepare for its future: 1. Collaborate: Create a steering committee with diverse representatives for AI integration. 2. Engage Experts: Partner with knowledgeable AI experts to stay updated on regulatory and ethical landscapes. 3. Set Policies: Develop internal guidelines for responsible AI use. 4. Evaluate Data: Assess data governance and operations to ensure high-quality data. 5. Host Workshops: Organize workshops to foster innovation and streamline AI development. 6. Encourage Experimentation: Inspire your team to explore AI possibilities within policy guardrails. Generative AI offers immense potential. CIOs must proactively harness its power, embracing it to shape a future of innovation and growth. Read more here: https://lnkd.in/eGHkMJeT #GenerativeAI #Leadership #AI #CIO

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