First off, I am honored to have joined the Innovate@UCLA Executive Board and just attended our in person Board meeting yesterday. Many exciting events coming up and I will keep you posted on them all.
I also delivered a new lecture on “Sports & AI” last week as part of a new MBA program specializing in Sports Management. Students were very appreciative of the current and future information and we had a lively discussion of how important AI is in the sports industry – both on field and off.
This further demonstrates that AI is everywhere and only getting bigger. It is now permeating every industry, people’s personal lives, and more. But how many of us are truly ready to 1) accept that AI is here to stay; and 2) make ourselves and our organizations ready to maximize it’s potential, while mitigating the risks?
To assist in this effort, I am rolling out a set of AI Readiness Guidelines to help assess to the degree to which an organization is prepared to adopt and integrate Artificial Intelligence technologies into their workflows. I have spent the last 2 months researching the topic and talking with leading experts to find the top best practices out there.
Introduction: Why AI Readiness Guidelines are Vital to Organizations
In today’s rapidly evolving business landscape, artificial intelligence (AI) has emerged as a potentially transformative force, offering unprecedented opportunities for innovation and growth across industries.
The successful integration of AI into organizational workflows requires more than just technological investment—it demands a strategic and comprehensive approach. An AI Readiness Program serves as a crucial framework for organizations to navigate the complexities of AI implementation effectively.
A study in the Fall of 2023 of 466 directors and above in organizations with more than 1,000 employees concluded:
- 59% of companies have purchased or plan to purchase at least one generative AI tool by the end of 2023
- 19% of companies use five or more generative AI tools
- Generative AI is in use in every function in the enterprise
- ChatGPT is both the most-used and most-banned tool
- 46% of respondents believe someone in their company may have inadvertently shared corporate data with ChatGPT
- 56% of respondents say generative AI boosts productivity by at least 50%
By addressing key business challenges with AI-powered solutions, organizations can unlock significant cost savings, revenue growth, and strategic advantages.