Business Technology Roundtable

The rapid evolution of Generative AI (GenAI) platforms has sparked a transformation in how progressive organizations leverage their institutional knowledge and enhance productivity. McKinsey's development of its internal GenAI platform, named Lilli, provides valuable insights into how large enterprises can successfully implement practical solutions while prioritizing user adoption and maintaining high security and quality standards. McKinsey's approach to developing Lilli is noteworthy for its methodical, user-centric implementation strategy. Starting with a small team of just four people that has since grown to over 150, the firm focused on solving specific operational challenges across four key domains: team performance, client development, service delivery, and post-project communications. Why Purposeful Adoption Planning Matters Rather than attempting to solve every possible use case at once, this focused approach has proven instrumental in the platform's successful ad...

Artificial Intelligence (AI) tools evolved and the inevitable outcome has arrived. The emerging Generative AI market demand has rapidly grown from initial hype and pilots to full-blown strategic implementation. The Wharton AI Report for 2024 reveals a nuanced picture of how the leading firms integrate this groundbreaking business technology into their operational frameworks. Key Insights and Market Dynamics The most striking statistic is the surge in generative AI adoption: 72 percent of decision-makers now report using generative AI at least once a week, compared to just 37 percent in 2023. This represents a dramatic shift from curiosity to active experimentation across multiple business functions. Spending has matched this enthusiasm, with generative AI budgets increasing by 130 percent since 2023. However, the growth trajectory is showing signs of stabilization. While 72 percent of respondents plan to increase AI budgets in the next year, a majority (57 percent) anticipate more mod...

The digital business sector is at a pivotal moment, particularly with Generative AI (GenAI) emerging as the most defining value-creation trend of 2024 and beyond. Are you prepared? Bain & Company's latest Technology Report provides a comprehensive look at how AI reshapes the industry landscape, creates new opportunities, and delivers tangible results for enterprises across sectors. As an independent industry analyst and consultant, I find the report's insights on enterprise opportunities with GenAI applications particularly enlightening and compelling. This transformational technology is driving meaningful and substantive business outcomes. It now has the potential to revolutionize how companies operate and compete globally. The Strategic GenAI Imperative Generative AI has moved firmly into the mainstream, with cloud service providers, enterprises, and technology vendors increasing their GenAI investments to unprecedented levels.  However, as with any transformative busine...

Is your leadership team ready to move beyond the consideration phase and harness the transformative power of Generative AI (GenAI), or are you trapped in analysis paralysis? Deloitte's latest quarterly report on "The State of Generative AI in the Enterprise" provides a comprehensive look at how organizations are navigating the GenAI adoption call to action.  The Q3 2024 survey of 2,770 leaders across 14 countries offers valuable insights into the current state of GenAI implementation, challenges, and future outlook. It's insightful reading. Building on Initial GenAI Success Organizations are seeing early value from their strategic GenAI initiatives, with 67 percent increasing investments due to strong business outcome results. While improved efficiency, productivity, and cost reduction remain top priorities (cited by 42 percent as the most important benefit), a majority (58 percent) report diverse benefits such as increased innovation, improved products, and enhanced...

How can applied technologies advance digital business growth and unlock strategic competitive advantages? Here's a proven approach. In the rapidly evolving commercial landscape of artificial intelligence apps, Generative AI (GenAI) tools have delivered unprecedented results. As a C-suite executive, understanding these innovative GenAI technologies can empower you to act decisively. Why now? It's a leadership imperative. A recent comprehensive study of GenAI Prompting techniques offers valuable insights that can be directly applied to enhance your organization's AI strategy. Strategic Importance of Structured Prompting At the core of interacting with Generative AI tools lies the concept of Prompting - the art and science of crafting inputs that guide GenAI tools to produce desired outputs. The study reveals that well-structured prompts consistently lead to improved results across a wide range of tasks. This finding underscores the critical need for organizations to develop ...

As stewards of your long-term competitiveness, are you boldly harnessing the artificial intelligence (AI) potential as a strategic catalyst for superior digital business growth? In an era of modern commercial disruption, harnessing AI technology is rapidly becoming the defining factor separating bold industry leaders from the fearful global market laggards. AI is a quintessential technology that, like past shifts such as the internet and cloud, will unlock transformational opportunities across every sector. For enterprises, strategically capitalizing on AI has become an imperative for reinvigorating competitiveness. While many companies have initiated AI pilot projects and limited use cases, haphazard and siloed efforts will not suffice. Boards must aspire for more -- catalyzing an enterprise-wide embrace of AI to reinvent their core business and uncover game-changing innovations. Realizing this vision requires AI leadership to extend from corporate strategy to ethical governance. It i...

Some executives have taken the lead, while others sit on the sidelines. The global business landscape is undergoing a seismic shift driven by Generative Artificial Intelligence (GenAI). New GenAI tools, with their ability to produce human-quality text, code, and multimedia content, present a once-in-a-generation opportunity for you to propel your organization toward unprecedented innovation and value creation. The Gap Between Leaders and Laggards is Widening A recent McKinsey report paints a concerning picture: companies with robust digital and AI capabilities are already accelerating ahead of many traditional competitors. These leaders boast total shareholder returns two to six times higher across sectors. This isn't simply a coincidence. It's a testament to the compounding advantage gained by those who've invested in building a comprehensive AI arsenal. These organizations have transformed themselves into AI powerhouses. From crafting strategic roadmaps to cultivating spe...

We’ve apparently reached an inflection point with the development and execution of Environmental, Social, and Governance (ESG) corporate policies. The role of business leadership in sustainability issues around climate change has received increasing attention from companies and their key stakeholders. But over the past year, something changed for CEOs worldwide, and sustainability talk turned into action. Continued disruption -- including upheaval and disruptions from the global COVID-19 pandemic -- has society at large calling for a new approach to economic advancement and business priorities. According to a recent survey by Oxford Economics, when it comes to optimizing opportunities and delivering business value, some CEOs have discovered an additional step. These savvy CEOs report deliberately integrating their Sustainability and Digital Transformation efforts. Digital Transformation and ESG Drive Growth For organizations with a clearly defined sustainability strategy and the right ...

While the decisive CEOs have a digital transformation agenda, those companies executing plans to re-imagine their business models are in the minority. And yet, the early-adopters now using cloud computing are enabled to respond quickly to changing market conditions. In contrast, the laggards are undecided and risk falling further behind. This is a global phenomena, where the industry and local market leaders are able to enact their transition with limited interference or threats from more traditional competitors. Just consider the current status-quo within the United Kingdom, as an example. The transformation of UK businesses is still relatively immature. Many organizations are aware of the potential of open hybrid cloud adoption, but they fail to actively address the technical debt that defines their legacy IT environment. Besides, they tend to narrowly focus on a small snapshot of the bigger picture. Clear Motivation to Overcome Inertia While some British leaders have progres...

Cloud enables IT agility, empowers DevOps teams and helps to transform legacy business models. The fifth annual Future of Cloud Computing survey investigates key trends in corporate cloud usage. This year's insightful survey findings offer perspective from cloud service practitioners across all industry sectors. "Cloud has been gaining momentum year­-over-­year since the Future of Cloud Computing survey was launched five years ago. Looking at the adoption rates and trends at such a detailed level, it's undeniable that the most successful technology leaders of today and tomorrow are scaling in the cloud," said Jim Moran, General Partner at North Bridge . "Last year, we discussed the second cloud front and the rise of cloud­-native companies. This year, we're seeing the pervasiveness of cloud disrupt industries across the board as companies look to maximize and implement cloud as a strategic and integral technology," Moran added. "We're also...

How agile is your IT organization? Have you kept pace with the rapid evolution of cloud computing services? Have you applied that cloud investment to connect with your key stakeholders in the marketplace? Are you ready to seize the opportunities from the emerging mobile cloud trend? If you answered NO to any of these questions, you're at a competitive disadvantage with your more digital savvy business technology peer group. The leading organizations worldwide will rely on cloud infrastructure to achieve commercial benefits that extend far beyond IT cost reduction goals. Informed CEOs and other senior executives are realizing that cloud service adoption can be a much-needed catalyst for operational process improvement -- as well as a driver of business transformation. New market data shows the increased use of cloud technology by global business to better connect with their employees and customers. According to findings from the KPMG 2014 Cloud Survey, the top use of cloud com...

As the chief executive at your company, if you discovered that you had some major financial standards compliance issues within your organization, would you be concerned about the risks associated with that exposure? If your designated outside auditor had bypassed your internal finance department and chose instead to work directly with your individual Line of Business leaders, would you want to know why? Moreover, would you intervene? Yes, it's a rhetorical series of questions. And I think we all know the answers. Did you know there's a movement that's already in progress that could impact your company's provision and consumption of IT services, with a corresponding potential exposure concern that's related to compliance issues? Have you heard about the Shadow IT phenomenon? According to the assessment of several leading IT market analysts, it's a trend that's already quite pervasive across a broad cross-section of industries. It’s also been a hotly ...

Senior executives at progressive companies have been on a mission -- they're raising the bar of expectations for leaders of their significant investment in business technologies. Providing reliable access to IT resources and reporting on system up-time objectives are unlikely to gain recognition or rewards from the savvy CEO. They now require a direct impact on business-related goals and anticipated outcomes -- with no excuses. Granted, many CIOs and IT managers have made progress in their efforts to better align their IT operations with their Line of Business leader's ongoing demands. But despite this progress, according to the results of a survey announced by Red Hat, obstacles remain before the vision of true IT and business integration can be fully realized. The survey results provide insight into the progress IT leaders have made in assuming more strategic roles -- as well as into the challenges they continue to face -- but also raises fundamental questions about how C...

Around the world, market leaders in all industries have already deployed managed cloud services. Seeking to use business technology as a strategic lever to advance past their competition on multiple fronts, the senior executives at these leading companies are eager to learn about the next phase of cloud service development. Worldwide spending on public IT cloud services will reach $47.4 billion in 2013 and will reach more than $107 billion by 2017, according to the latest market study by International Data Corporation (IDC). Over the 2013–2017 forecast period, public cloud services will have a compound annual growth rate (CAGR) of 23.5 percent, that's five times the IT industry growth as a whole. As one of the key technologies enabling the industry-wide shift, cloud computing has played a crucial role in changing the way companies consume and use business technology. IDC believes that there are signs that cloud services are starting to shift into a the next phase -- where the ...

The detractors of cloud computing benefits will state that the typical adoption is still limited at most enterprises -- they're deploying cloud services to a few early-adopters. That being said, some leading markets are confidently moving ahead with mainstream deployments, regardless of the caution. While others, such as western Europe, are apparently in transition. The western European private cloud market will grow at a CAGR of 23.2 percent for the next five years to reach $7.9 billion in 2016, according to the latest market study by International Data Corporation ( IDC ). IDC has been looking in-depth at the private cloud marketplace -- from a hardware, software, services and networking points of view. "The growth of private cloud is even more impressive in the context of the current economic situation," said Mette Ahorlu, research director, IDC European Services. According to IDC's assessment, demand in the region is being driven by the need for cost sa...

The increased uptake in cloud service adoption is truly a worldwide phenomenon. New research published by Cisco Systems demonstrates the dramatic shift in attitudes towards cloud services in the UK and Ireland. The report -- entitled " Cisco CloudWatch 2012 " -- is the second in Cisco's annual Cloud series and finds IT decision makers in a bullish mood, increasingly placing applications and services from across their business into the cloud and planning for further investment over the coming 12 months. Furthermore, the message that cloud services can deliver significant cost reduction is now resonating within the IT community -- cost saving has become a top driver for adopting cloud applications . Granted, security remains the number one concern when migrating services and applications to the cloud. But that concern is noticeably less pronounced than in last year's report. The use of public cloud is up 11 percent, although private cloud still dominates. ...