Organisations are enthusiastic about generative AI’s potential for increasing their business and people productivity, but lack of strategic planning and talent shortages are preventing them from realising its true value.

This is according to a study conducted in early 2024 by Coleman Parkes Research and sponsored by data analytics firm SAS, which surveyed 300 US GenAI strategy or data analytics decision makers to pulse check major areas of investment and the hurdles organisations are facing.

Marinela Profi, strategic AI advisor at SAS, said: “Organisations are realising that large language models (LLMs) alone don’t solve business challenges. 

“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 organisations realise 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 organisations should take before jumping in with both feet and getting ‘locked in.’”

Organisations are hitting stumbling blocks in four key areas of implementation:

• Increasing trust in data usage and achieving compliance. Only one in 10 organisations has a reliable system in place to measure bias and privacy risk in LLMs. M