In the rapidly evolving world of artificial intelligence (AI), decision-makers are facing an increasingly urgent concern: data privacy and security. A recent study conducted by Coleman Parkes Research and sponsored by data analytics firm SAS revealed that 80% of AI decision-makers are apprehensive about these issues. As an AI-focused agency, we at AI First Agency understand the importance of safeguarding data and are committed to maintaining the highest standards of privacy and security.
The study surveyed 300 US GenAI strategy or data analytics decision makers, revealing four main areas of concern for AI implementation: trust in data usage and compliance, integration of GenAI into existing systems and processes, talent and skills, and cost prediction.
When it comes to data usage and compliance, only one in ten organizations has a reliable system in place to measure bias and privacy risk in large language models (LLMs). Additionally, a staggering 93% of U.S. businesses lack a comprehensive governance framework for GenAI, putting the majority at risk of noncompliance with regulations.
The integration of GenAI into existing systems and processes has also proved challenging. Many organizations are experiencing compatibility issues when attempting to marry GenAI with their established systems. This problem is compounded by the shortage of in-house GenAI skills. As HR departments struggle to find suitable hires, organizational leaders worry they don’t have access to the necessary skills to fully leverage their GenAI investment.
Finally, predicting the costs associated with using LLMs is a significant hurdle. While model creators provide a token cost estimate, the actual costs for private knowledge preparation, training, and ModelOps management are often lengthier and more complex than anticipated.
In light of these challenges, Marinela Profi, a strategic AI advisor at SAS, emphasizes the importance of strategic planning and investment in technology that offers integration, governance, and explainability of LLMs. She states, “GenAI should be treated as an ideal contributor to hyper automation and the acceleration of existing processes and systems rather than the new shiny toy that will help organizations realize all their business aspirations.”
At AI First Agency, we echo Profi’s sentiments and believe that a progressive strategy is crucial when implementing GenAI. We understand that large language models alone don’t solve business challenges. Instead, they should be treated as contributors to hyper automation and accelerators of existing processes and systems. By doing so, we can help organizations stay relevant, invest wisely, and remain resilient in a rapidly evolving AI landscape.
However, implementing GenAI is not without its challenges. From increasing trust in data usage to achieving compliance, integrating GenAI into existing systems, addressing talent shortages, and predicting costs, organizations face a range of hurdles. That’s why strategic planning and investment in technology offering integration, governance, and explainability of LLMs are of utmost importance.
Our team at AI First Agency is dedicated to helping you navigate these challenges. With our AI consultancy, tools, and marketing services, we can guide you through implementing AI technology, ensuring that your business thrives in the AI-driven landscape.
