How GenAI strategy can transform innovation

Meaningful GenAI can extend far beyond driving efficiency and effectiveness. Its ability to create, simulate and understand complex data makes it a transformative force in enterprise innovation.

GenAI can help leaders reimagine their business model to secure revenue and growth advantages by helping to create innovative new products. It can also help redesign how these products get to market, speeding up commercialization. But as companies embark on an artificial intelligence (AI) strategy, it is necessary to intentionally link each use case directly to the profit and loss (P&L) statement. While the temptation is to anchor any initial GenAI strategy in the obvious and beneficial productivity impact it can have, this won’t be enough to foster differentiation, develop smart operations or create innovative products and services. The place to start for business leaders is in house by identifying and prioritizing use cases that uniquely leverage the organization’s intellectual property, financial, operations, and knowledge management systems, taking advantage of both qualitative and quantitative data. With these assets, leaders can customize foundational GenAI large language models (LLMs) to create new apps that foster a competitive advantage.