After posting last weeks article (Deploying AI: What nobody seems to be putting together) where I suggested that we have fragmentation in approaches to AI deployment I saw a number of things come together. EY launched EY.ai (actually, back in Sept 2023), then a great post from Chris Howard at Gartner (Top of Mind – “Are 100% Accurate AI Language Models Even Useful?”) where Chris mentions ‘…as we hit the trough of disillusionment with generative AI…“.
This comment from Chris Howard, combined with the EY launch seems pivotal for leaders making business decisions around implementing AI within their organisations.
The Maturing AI Landscape: EY.ai Launch and Gartner’s GenAI Insights
What is it?
In this instance, ‘it‘ is a convergence of threads in the AI market. EY launched its AI platform, EY.ai, a comprehensive solution designed to integrate human capabilities with AI to help drive business transformation. It includes a maturity model and confidence index to help you understand where the organisation is and to plan improvements, and of course EY.ai also brings the firm’s experience in other business areas to help with the responsible and effective adoption of AI.
As I mentioned above Gartner has also commented that Generative AI (GenAI) is hitting the “Trough of Disillusionment” in the Hype Cycle (to quote Chris Howard again – ‘… where the magic burns off a little bit..‘). This suggests that GenAI is moving off the Peak and on the journey to more mainstream adoption, at least toward the Slope of Enlightenment, with the market being shaken out and products that satisfy early adopters surviving (Gartner Hype Cycle).
What does it mean from a business perspective?
This convergence marks another milestone in the AI landscape. For business leaders, this signals a maturing market where AI solutions are moving from experimental to components of a business strategy. It reflects a broader industry trend towards adopting AI in a more structured and risk-managed way (EY US).
This maturation means reduced risks and increased opportunities for leveraging AI to improve efficiency, innovate processes, and gain a competitive edge. The combined offerings from major tech players like Microsoft (Azure AI Studio), Google (Google Vertex AI), Amazon (Amazon Q Business) and IBM (IBM WatsonX) help solidify the AI ecosystem by providing a solid set of tools and platforms.
What do I do with it?
Business leaders, AI leaders and aspiring Chief AI Officers (CAIO’s) can take several concrete actions to leverage these advancements:
- Collaborate with Tech Partners: Engage with technology partners like Microsoft, Google, IBM and Amazon to leverage their advanced AI solutions, combined with partners like EY to inform your strategy and mitigate potential risks. These collaborations can provide access to technology and expertise, enhancing your AI initiatives.
- Evaluate Current AI Readiness: Assess your organisation’s current AI capabilities and readiness. Identify areas where AI can drive value and plan for integration accordingly.
- Leverage Comprehensive Platforms: Utilise platforms and partners like EY.ai for a structured and strategic approach to AI adoption.
- Up-skill Your Workforce: Invest in training and development programs to up-skill your employees. Familiarise your teams with AI tools and their potential applications to maximise the benefits of AI integration.
- Adopt a Risk-Managed Approach: Follow best practices and frameworks (ISO and NIST) for AI adoption that emphasise ethical considerations, data privacy, and risk management. Use insights from Gartner and other industry reports to inform your strategy and mitigate potential risks.
By following these steps, business leaders can more confidently integrate AI into their organisations, driving transformation and staying competitive in a rapidly evolving environment.
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