Ram Menon, the Founder and CEO of Avaamo, a leading generative AI company for enterprise, envisions 2024 as the year when generative AI will move beyond just speculation. However, instead of getting caught up in lofty rhetoric, he believes that business leaders should focus on implementing AI in a way that automates workflows, provides immediate value, and ensures compliance. Menon emphasizes that this is achievable today, contrary to the mixed messages circulating in the market.
To successfully implement generative AI, businesses first need to choose a specific business output or workflow to transform. This could include improving IT requests, managing employee car service reservations, or enhancing expense reporting processes. Similar to how data is compared to the “new oil” by industry experts, AI tools act as the refineries that transform data into valuable resources through automation of workflows and tangible outputs that drive business success.
While moving quickly is important for companies looking to leverage generative AI early on, it is equally crucial to be methodical in the implementation process. Launching pilot AI workflows may be easy, but scaling them up and creating meaningful value require a detailed analysis and strategic approach. Menon cautions against unfocused experimentation with multiple AI tools or interfaces, emphasizing the need for a unified implementation plan that aligns with internal end users’ roles and goals.
By creating and deploying a unified implementation plan focused on improving and automating workflows, businesses can drive near-term value with generative AI. Grounding AI implementation in real examples, Menon shares a case study of a global systems integrator that successfully implemented generative AI in its human resources department. By automating tasks like time sheets, travel policies, and benefits management, the company saved hundreds of thousands of dollars in labor costs and resolved millions of queries in a safe and compliant manner within just 15 months.
As the adoption of AI continues to grow in the enterprise, it is important for business leaders to prioritize the impact of AI implementation on business outputs. The ultimate goal of generative AI should be to make business processes easier, drive results, and improve overall efficiency. Business leaders should focus on the practical application of AI that aligns with their organization’s goals and priorities, rather than getting caught up in the technical details of the underlying technology.
In conclusion, generative AI has the potential to revolutionize the enterprise, with an increasing number of companies exploring its applications. By following a strategic and focused approach to implementation, businesses can leverage generative AI to automate workflows, drive immediate value, and ultimately drive business success. Menon’s insights highlight the importance of aligning AI efforts with business objectives and focusing on the tangible impacts on business outputs.
