Investing in generative AI
As we have seen with the explosion of chatGPT and all the advances that came after it, generative AI manages to generate content so fast that we can’t keep up, so we want to help you learn more about investment in Generative Artificial Intelligence in business.
This technology has not only proven its ability to automate tasks, but has also opened up new avenues for creativity, innovation and efficiency in all areas of business.
One of the highlights of generative artificial intelligence is its versatility. From marketing to human resource management, research and development, finance and customer service, no sector is immune to its impact.
In marketing, for example, companies are using this technology to generate personalised content on a large scale, precisely tailored to the preferences of their audience.
In research and development, AI’s ability to generate predictive models and simulate complex scenarios accelerates innovation and reduces time to market.
The implementation of generative artificial intelligence in business not only translates into greater operational efficiency, but also into a significant competitive advantage. Thus, companies that adopt this technology will be able to respond more quickly to market trends, personalise their services and optimise their resources.
According to studies, 75% of executives agree that AI models will be key to business strategies in the coming years.
Situation analysis before investing
However, when companies begin to explore the use of this technology, the operational, economic or transformational challenges involved are often overlooked. For this reason, it is very important to know where each company stands and what objectives it wants to pursue.
By carrying out a situation analysis, the most influential factors can be taken into account before implementing any technology before investment in Generative Artificial Intelligence in companies. Here are some of them.
Define your objectives
Define the objectives to be achieved with the implementation of generative AI. In addition, it is important that the investment to be made is aligned with the company’s overall strategy and long-term goals.
Technological capacity
Assess the company’s current technology infrastructure and determine whether it is compatible with the implementation of generative AI solutions. The need to upgrade or acquire new technology infrastructure and software should also be considered.
Data quality
Analyse the quality, quantity and diversity of data available in your company, as this is critical to training effective generative AI models.
In addition, consider the need for data cleaning and data preparation, as well as potential biases in existing information.
Human capital
Assess the availability of internal talent with the necessary skills to implement and manage generative AI technologies. If you do not have the necessary skills, it is really important to consider the need for training and skills development or the hiring of new talent specialised in AI.
At Cognodata, we help you complement your teams by providing methodologies, training and specialised profiles.
Additional costs
Analyse the costs associated with implementing generative AI. These costs include not only the initial investment in infrastructure and software needed to implement these solutions, but also the costs of development, acquiring specialised talent, and ongoing maintenance.
You will need to evaluate how this technology can optimise your operations and reduce your long-term costs.
The key is to identify how generative AI can automate costly processes, personalise the customer experience to increase sales, or even open up new business opportunities that were previously inaccessible.
Competition
By observing how your competitors are implementing generative AI in their strategies, you can identify opportunities to differentiate yourself and gain insights on how to impact the market.
Consider your target audience
Understanding your customers’ expectations for innovation and personalisation will help you align your investment in generative AI with the values and demands of the market.
This customer-centric approach will enable you to implement AI solutions that not only optimise your internal operations, but also enrich the customer experience, fostering greater loyalty and satisfaction.
Thanks to Cognodata’s expertise in Generative Artificial Intelligence, our approach not only focuses on the technology, but also on incorporating the customer’s vision and specific technical needs into the development of each solution. We understand that the successful implementation of each case lies in a deep understanding of our clients’ business objectives, their processes and the unique challenges they face.
The «test&learning» approach is an iterative cycle designed to identify, develop, test and evaluate generative AI applications in real business contexts, ensuring that each solution is not only technically feasible, but also delivers real, tangible value to our clients.
Would you like to know more?
At Cognodata, we are committed to taking your business to the next level through customised Generative Artificial Intelligence solutions.
If you are ready to transform your challenges into opportunities, don’t hesitate to contact us. Our team of experts is ready to thoroughly understand your needs and design a tailored strategy to drive your business goals.