Artificial intelligence (AI) task forces have become a recent trend as organizations increasingly recognize the potential of generative AI. McKinsey, in their recent report, describes generative AI as a tool to empower the global workforce rather than replace it. They predict that by 2030, gen AI will contribute trillions to the global economy by automating around 70% of business activities across various occupations.
Many organizations, including Disney and the U.S. government, are forming generative AI task forces to better understand and harness the capabilities of this technology. These task forces aim to assess how AI can drive innovation, improve product quality, and enhance competitiveness in a rapidly changing landscape. They also address risks and challenges associated with software development, security, and ethical use of AI.
Veritone, with its experience in the AI industry, provides insights on best practices for organizations forming AI task forces. It emphasizes the importance of assembling a team with deep expertise in the specific type of AI being implemented. Evaluating current processes and weighing the potential adoption of AI is crucial to understand the technology’s capabilities, implementation costs, and trade-offs.
To build a strong foundation, organizations should identify their current problems, desired outcomes, and prioritize value. Clear short- and long-term objectives aligning with the organization’s goals should be established, leading to the selection of a pilot project. The feasibility of the chosen project plays a significant role in long-term success.
Once validated, companies can scale their generative AI initiatives by identifying other areas that can benefit from AI technology. An iterative approach of testing, learning, and refining is recommended to yield better results and create a robust AI framework.
Veritone provides several best practices for integrating generative AI. These include continuous training and learning, collaboration with stakeholders, scalability and maintenance strategies, defining performance metrics, addressing ethical considerations, and conducting a feasibility study.
It is important not to overestimate the capabilities of generative AI to avoid unrealistic expectations that can prolong development and lead to negative end-user satisfaction. Each organization will utilize AI differently, and understanding its implications requires the right people, effective systems, and a focus on accountability to maximize return on investment.
Veritone, with its extensive experience, has been assisting various clients across different sectors in implementing AI solutions. By helping organizations understand the impact of AI on their business, Veritone positions them to succeed in the competitive landscape.
For more information, interested readers can download a free AI task force guide. The CEO & President of Veritone, Ryan Steelberg, emphasizes the importance of understanding AI’s potential and welcomes organizations to explore its benefits.
