In a world where organisations are looking at short term goals when adapting or implementing generative AI solutions, Genpact believes that it’s time they started focusing on long term returns. Katie Stein, the chief strategy officer at Genpact said that organisations are getting on the edge in implementing these solutions.
She also shared Genpact’s generative AI strategy on how they are scaling and deploying them responsibly. “I would argue that generative AI is our moment of fire, our moment to change and transform how businesses run and to change society.” she said.
Drawing a comparison of how society changed with how humankind evolved after the discovery of fire she explained, “Something fundamental changed with the introduction of ChatGPT. It truly democratised and consumerised AI. It changed how the average person thinks about AI and engages with it.”
She acknowledged that this is just the beginning, and also the hard phase of the development of AI, but all of this would eventually determine how we progress with AI.
On the contrary to the popular obsession with productivity and AI, Stein warned about the dangers of hyperfocus on just AI productivity, and immediate result. “I hear a lot about productivity. And I will say the hyper focus on productivity is dangerous, limiting and will leave AI in the same station,” she added.
She reasons that so much digital transformation should be thought of as end-to-end solutions and not just immediate outcomes. And as a result, companies are rushing to optimise and put in point solutions.
She also said that the companies need to step back and reimagine the kinds of outcomes, the economic values that AI can create for them and maybe even completely change the way they collaborate or work with different models – “not just for the immediate future but in the long run.”
Towards Inclusive and Responsible Generative AI
As the fear continues to grow around AI replacing people, Stein touched upon certain points during her talk suggesting an inclusive way for corporations to move towards AI advancements.
She urged for organisation, whether it's through external parties, or through in-house platforms to think about how they decide to skilling at scale for the emerging roles.
“So when I think about the skills that are going to go into this next phase, it's a new set of skills, you have prompt engineers. But we also need more experienced designers to make better user interfaces and extend experience. We need architects, we need strategists. There’s many roles we need to train and create” she advised.
Stein who has been with Genpact for almost a decade now, further shed light upon ways organisations should pick AI models as per their need instead of jumping on the bandwagon as others.
“Many organisations haven't yet understood how fundamental this change is for them,” she said. “At Genpact we're working with our responsibility AI framework, which has the foundational elements around security and privacy,” Stein added.
She raised several significant questions — how do we make sure there isn't bias in models as we train them? How do we make sure that bias does not creep in as we use AI for HR or recruiting? How do we monitor that going on?
Further, she suggests for organisations to build responsible AI they need to put in place terms, strategies, metrics and guardrails that can be used for the base.
Lastly, she spoke about the role of globalisation in the regulatory framework. In the last one year government bodies around the world have begun the dialogues to come up with regulations for AI. “It is very unsure at this stage, and will continue to evolve and fit,” Stein concluded.
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