Generative AI
Democratising GenAI for Business Innovation
As per Gartner, by 2026, more than 80% of enterprises will have tested or deployed GenAI-enabled applications — up from less than 5% in 2023. A significant part of this uptick will be attributable to industry-wide AI initiatives around training, open-source AI models, datasets, and tools all playing a pivotal role in democratising AI, making these capabilities available to businesses of all sizes and across industries, helping them thrive and grow.
While the democratisation of any technology has its benefits, for GenAI, it’s not just about non-developers using low-code, no-code tools to develop AI solutions or everyone being able to write machine learning (ML) code. True democratisation will happen when individuals in every function appreciate what AI can accomplish, identify appropriate use cases in the industry value chain, and implement them in the right business context to drive results.
In this blog, we will delve into the realm of democratised AI, examining its vast potential, essential components, and necessary guardrails required for successful implementation.
First, a recap of Generative AI as a technology
Generative AI refers to algorithms that can generate new content, solutions, or insights based on input data. This technology encompasses sophisticated models such as natural language processing (NLP), computer vision, and various generative adversarial networks (GANs). Businesses can leverage GenAI in numerous ways, from automating routine tasks to creating entirely new products and services. By understanding the possibilities offered by GenAI, organisations can identify how best to apply this technology for their unique needs.
The Importance of Democratisation
Democratising GenAI reinvents the way work is done by improving existing processes. It opens up access to information and skills across roles and business functions, including non-technical roles.
- Accessibility
- Encouraging Innovation
- Driving Efficiency
Traditionally, AI development has been the domain of experts, engineers, and data scientists. By lowering the barrier to entry, more individuals within an organisation can participate in AI-driven initiatives. Accessible tools, simplified interfaces, and robust training programmes can empower non-technical team members to leverage GenAI effectively.
When GenAI becomes widely accessible, the potential for innovation multiplies. Employees from various functions, including marketing, finance, and product development, can experiment with AI solutions, leading to fresh ideas and novel applications. Democratisation fosters a culture of innovation, where cross-functional teams collaborate to solve complex business challenges by thinking creatively and using the latest AI tools.
By enabling more employees to utilise AI tools, organisations can automate repetitive tasks, streamline workflows, and reduce human error. This efficiency not only saves time but also allows teams to focus on high-impact tasks that contribute significantly to the organisation’s goals, including business value generation.
Democratising AI within organisations would require the right balance between People, Systems, and Policies. How does one go about it?
- Investing in data & AI literacy programmes
- Low-code/no-code and automated ML tools
- Encouraging a Fail-Fast Approach
- Establishing Ethical Guidelines
Organisations must prioritise education and training programmes centred around GenAI. This can include workshops, online courses, and resources that cater to different skill levels. By equipping employees with the knowledge and skills they need to leverage GenAI, businesses can create a culture that embraces AI-driven innovation.
An essential element of democratisation is the availability of user-friendly tools. Companies should seek out and invest in platforms that allow employees with varying technical backgrounds to engage with GenAI effectively. No-code or low-code solutions can enable employees to create AI models, automate processes, or generate insights without extensive programming knowledge.
In a rapidly evolving technology landscape, organisations must cultivate an environment where employees feel comfortable with experimenting and failing. A fail-fast approach allows teams to iterate quickly, learn from mistakes, and refine their GenAI applications without fear of retribution. This mindset can lead to breakthrough innovations and a deeper understanding of AI capabilities.
As businesses embrace GenAI, it is crucial to establish ethical guidelines to ensure responsible use. Organisations should implement policies addressing data privacy, minimising bias, and ensuring transparency in AI applications. By fostering a culture of responsible AI usage, companies can build trust with consumers and stakeholders while minimising potential risks.
Challenges for Fortune 500 Companies in AI Adoption
Despite the widespread enthusiasm for AI, many Fortune 500 companies are still grappling with its full implementation. While these companies have made significant investments in AI technologies, only a small fraction consider themselves "mature" in their AI deployment. The journey to AI maturity is fraught with challenges, including high costs of training models, integrating AI into existing workflows, and ensuring data privacy and security. Additionally, there is often a gap between the potential of AI and its actual impact on business outcomes. As a result, many Fortune 500 companies are still in the early stages of exploring how to effectively harness AI for long-term value creation.
How can Infosys BPM help leverage GenAI for business?
Democratising generative AI for business is proving to be a great catalyst for business growth, offering companies the opportunity to enhance innovation, boost productivity, and foster collaboration. Infosys BPM offers an AI-first platform that can help businesses harness the power of GenAI to transform and redefine their business operations. By leveraging this state-of-the-art platform, businesses can drive AI-first operations, reinforce AI ethics, and stay future-ready in the face of rapid technological innovations.
