Every C-level executive we know is getting bombarded with questions about artificial intelligence and machine learning, and about how large language models (LLMs) like ChatGPT might impact their business and industry.
It’s easy to go in one of two directions, either burying your head in the sand and hoping that continuing with business as usual will be enough to stave off any AI-powered efforts from competitors, or rapidly making investments to avoid falling behind but without a truly coherent strategy behind the spending.
At Mod Op Strategic Consulting, we have deep expertise in these new technologies — but, just as critically, we have a deep understanding of business, and can help you gain a greater understanding of the strategic opportunities and risks associated with AI and machine learning for your organization. To ensure you capitalize on the power of these new advances, but do so in a way that’s right for your business, market and culture, you may benefit from a Mod Op Strategic Consulting Strategic AI Assessment.
Engaging with Mod Op Strategic Consulting will give you a trusted third-party perspective on how to best approach questions about AI and LLMs, maximizing value, limiting risk, and taking the right steps — now, and down the line. The assessment will identify:
- Ways to leverage AI and LLM technologies both internally and externally in your business, to enhance the efficiency and productivity of your workforce, or in consumer-facing applications that can either improve existing offerings or launch new ones.
- How your competition is deploying these technologies and where there might be gaps in the marketplace or industry opportunities waiting to be seized.
- The resources required, both in terms of hardware and staffing, and how to either take advantage of existing infrastructure and people or efficiently build out new capabilities and/or redeploy staff or hire for the right new positions.
- Appropriate AI-related policies for your organization that minimize risks as far as leakage of confidential or proprietary information, and establish coherent guidelines for employees and partners.
The Mod Op Strategic Consulting Strategic AI Assessment consists of three steps.
Step 1: Understand strategic business objectives and current AI/LLM landscape
The assessment starts with ensuring an understanding of your organization’s critical strategic objectives, its product/service portfolio, market growth strategies, and industry-specific norms and policies that may impact any AI-related efforts. This is followed by a detailed series of discovery exercises to develop a baseline picture of your organization’s capabilities, information management, quality and governance processes, staffing and skills, software tools and how AI may be currently used across the business.
We also take a look at the larger marketplace to discover what competitors are doing in the AI space and where there might be either opportunities to innovate and gain market share or areas where other companies are threatening to encroach on your organization’s offerings or competitive advantages.
The output of this step is baseline documentation of current capabilities and industry picture along with an understanding of the organization’s strategic growth and operational performance priorities and where AI may fit.
Step 2: Articulate use cases and analyze potential impacts, costs and risks
Taking the output from the first step, Mod Op Strategic Consulting builds a series of use cases for where AI and LLM technologies might be able to generate significant impact for your organization, both internally and externally. For each use case, we define the potential impact, look at the resources and costs involved, and evaluate any risks, particularly around information security, output accuracy and potential bias.
Testing these use cases with key stakeholders across the business results in the development of a prioritized series of recommended changes, actions, investments and broader AI policies.
We also look at the range of potential tools and vendors that could be deployed in order to achieve the recommended changes, and evaluate the range of options to find the one that is most effective and cost-efficient for your organization. There has been a lot of competition, particularly between smaller open-source LLMs and larger tools from OpenAI such as ChatGPT, and we can identify the best choices for your business, and for each application.
Step 3: Develop a roadmap
The final step of the assessment process is the delivery of a roadmap for sequencing investments and prioritized actions over your organization’s desired timeline. By following the roadmap, the organization will effectively take steps toward deploying AI technologies in a strategic, sensible way, aligned with broader business goals, in compliance with regulations, and well-positioned to succeed given your organization’s culture and resources.
In the end, we can bring rigor and confidence to your evaluation of the AI landscape, and give you the information you need to make the most strategic investments to meet your organization’s needs.
