In today's rapidly evolving technological landscape, artificial intelligence (AI) has emerged as a powerful tool that has the potential to transform businesses and drive growth. With the advent of accessible and useful large language generative AI (GenAI) models, such as ChatGPT, companies are now able to harness the power of AI to enhance productivity and innovation.
According to Accenture, AI has the potential to increase business productivity by up to 40% and double economic growth rates by 2035. It's no wonder that many enterprises are eager to adopt GenAI technology and leverage its benefits. However, with great power comes great responsibility.
As companies integrate GenAI into their operations, several risks and challenges arise. One of the key concerns is the phenomenon of 'shadow AI.' This refers to unsanctioned or ad-hoc use of AI within an organization that falls outside of IT governance. Employees may access and utilize free and open GenAI resources across company networks without the organization's knowledge, posing potential security and privacy risks.
To mitigate these risks, it is crucial for businesses to invest in tools and procedures that offer GenAI visibility. A GenAI visibility platform provides advanced analytics and monitoring techniques to track the deployment and performance of GenAI across different departments and projects. By gathering data on usage patterns, effectiveness, and potential risks, businesses can better manage and mitigate the challenges associated with GenAI.
Here are five reasons why enterprises need AI visibility:
1. Competitive advantage: With the increasing adoption of GenAI, companies that embrace this technology early on will have a unique opportunity for growth and innovation. By gaining visibility into GenAI operations, businesses can leverage this advantage to outperform their competitors.
2. Governance and compliance: As the use of GenAI proliferates, the need for AI governance becomes paramount. GenAI governance ensures responsible AI use within an enterprise by providing organizations access to comprehensive tools for risk management, privacy protection, and policy implementation. A recent survey revealed that more than 90% of respondents plan to invest in GenAI data governance tools for their companies.
3. Security and risk management: While GenAI offers immense potential, it also comes with security risks. The survey indicated that 73% of companies have experienced GenAI-related security incidents or misuse. Lack of visibility into AI operations can exacerbate governance and data security risks. To prevent such risks, businesses must prioritize AI security and invest in visibility platforms that can identify potential compliance and security risks associated with GenAI usage.
4. Employee training and education: As GenAI is still in its early stages, mistakes are bound to happen. It is essential to provide employees with adequate education and training on GenAI issues. However, most companies currently offer their employees less than five hours of annual education and training on GenAI. By incorporating GenAI training into employee development programs and promoting best practices, businesses can ensure responsible and effective use of the technology.
5. Shadow AI prevention: The concern of shadow AI looms large as organizations embrace GenAI. The accessibility of GenAI platforms puts companies at risk of unsanctioned usage by their employees, potentially compromising customer data and intellectual property. Having visibility into both sanctioned and unsanctioned GenAI use enables businesses to address this concern and implement proactive measures to prevent shadow AI.
While the adoption of GenAI holds great promise for businesses, it is crucial to approach it with caution and proper risk mitigation strategies. Building a cross-functional assessment team to develop use cases, defining success metrics, and assigning accountability for managing the GenAI program are all critical steps. With AI visibility platforms available at this early stage, enterprises have a unique opportunity to alleviate risks and concerns and to ensure successful implementation.
In conclusion, the power of GenAI is undeniable, and its adoption can lead to transformative growth for enterprises. However, it is essential to address the risks associated with GenAI by investing in visibility platforms, implementing proper governance structures, ensuring data security, providing employee training, and preventing shadow AI. By doing so, businesses can harness the full potential of GenAI while also ensuring responsible and secure usage in this new era of generative AI.
