AI beyond the hype: why this is truly a transformative moment for technology
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AI has been envisioned as a business multiplier for decades, but its adoption has only recently gained pace. Why? Low technology maturity levels, the lack of enabling infrastructure, and AI-led capabilities limited AI’s growth. While its potential was undeniable, its implementation was a challenge.
The technology landscape, however, has changed dramatically over the past few years. Enabled with cloud scale and GPUs, complex data crunching to enable AI at scale is possible today. With rapid evolutions in hardware, newer capability areas in AI, such as generative (specifically almost human-like Large Language Capabilities), have emerged.
Now, AI can accelerate the time to value. AI’s transformative potential, hence, is not only being acknowledged but also realized at scale. However, we need to keep in mind the benefits AI implementation will offer to the customers instead of looking at AI as just another piece of technology. Every AI project should be driven by user/customer centricity.
The dawn of reality: validating the AI metamorphosis
The year 2023 witnesses a pivotal juncture in the AI narrative, a watershed moment affirmed by the findings of the McKinsey Global Survey. At the heart of this transformation is the meteoric rise of Generative AI (Gen AI) tools. What was once an experimental pursuit is now propelling businesses to harness gen AI in their daily operations.
According to the report, nearly half (48%) of medium to large organizations in the US have advanced to higher AI maturity levels of AI maturity, marking an 8% surge compared to last year’s survey findings. Among mid-to-large US organizations, 52% are currently in the experimental phase of AI implementation. Those at the mature stage are more inclined to leverage AI for future strategic gains, while the experimenting group primarily focuses on mitigating risks. However, irrespective of where these businesses stand on their AI maturity journey, nearly 40 percent of enterprises affirm their intent to amplify AI investment.
At HTCNXT, we realized AI’s potential quite early, and our mission of transforming enterprises into AI-first organizations began at home. At HTCNXT, our core mission is AI, and we have been developing ready-to-deploy industry-specific solutions, working with clients to implement AI for their problem areas, and developing our own AI platform called MAGE. We have also been eating our own dog food and using our own solutions in our business services group, customer service products, and quality engineering teams. AI solutions today sit at the heart of many of our processes. And we have seen realized benefits in productivity and efficiency as we do this.
For our customers, our solutions have helped a global automotive manufacturer eliminate recurring problems in procurement and streamline their workflow to save significant costs. Our solution enhanced the interactive training modules with a VR-based 360° solution for a multinational mass media and entertainment conglomerate. We also helped a large public research university in California build AI/ML-driven solutions for managing technical data. And this is just the tip of the iceberg.
Riding the AI wave
Building on our AI expertise, we developed our platform MAGE. Its plug-and-play solution is designed for enterprises to harness the full potential of AI, innovate with precision, and elevate their operations to new heights. Being component-driven, it can be seamlessly integrated into existing IT infrastructure to drive value sooner.
Furthermore, our tested approach helps enterprises adopt AI technology through the stages of Learn, Scale, and Transform. Leveraging the immense capabilities of MAGE, we are helping enterprises test the viability of AI for their business, scale its implementation, and take the strategic call to enable enterprise-wide adoption. Our holistic approach has been instrumental in improving AI maturity levels for enterprises at a rapid pace.
Setting up the ethical guardrail
Large language models (LLMs) hold great potential but also bring challenges for organizations. These models can produce content that doesn’t match an organization’s needs or ethical guidelines. Without safety measures, there’s a risk of creating harmful or biased content. To use LLMs responsibly, organizations must establish guardrails to define their boundaries.
There are four ways to create effective guardrails for LLMs:
- Develop specific LLMs from trusted sources, but this is resource-intensive and doesn’t eliminate all risks.
- Customize LLMs with optimization techniques aligned with industry policies.
- Manually verify models for vulnerabilities through red teaming, which is slow and costly.
- Use agent-based models to automate verification and governance, ensuring safe interactions.
Among these, agent-based modeling stands out as the most suitable option for securing LLMs for enterprise use. It enforces technology and security rules, ensuring safe interactions with generative AI.
HTCNXT’s MAGE weaves the AI magic
MAGE is a testament to the relentless pursuit of technological excellence. This platform harmoniously orchestrates various technology stack components, effectively converging data, algorithms, and computing resources. Embodying the essence of AI evolution, MAGE paves the way for organizations to unleash innovation, gain invaluable insights, and make well-informed, data-driven decisions.
MAGE empowers businesses to innovate across diverse domains, extending its transformative touch to four cornerstone industries:
- Retail: MAGE’s capabilities drive personalized customer experiences, dynamic pricing, virtual assistants, and demand forecasting. From visual search to product recommendations, retail revolutionizes through AI.
- Insurance: Enhancing risk assessment, claims processing, and fraud detection, MAGE redefines efficiency in insurance operations while delivering personalized customer experiences. We recently helped an insurer reimagine claims intake with an AI-based FNOL (First Notice of Loss) solution, enhancing digital experiences for claimants and staff while reducing costs.
- Health: With capabilities spanning medical imaging, personalized medicine, telehealth, and clinical decision support, MAGE transforms healthcare, enhancing patient care and medical research.
- Travel: By enabling personalized travel recommendations, dynamic pricing, and enhanced customer services through chatbots and virtual assistants, MAGE takes travel experiences to new horizons.
Forging ahead
There’s no denying that Gen AI’s advent heralds a new dawn, a chapter steeped in progress. As we traverse this landscape of uncharted potential, HTCNXT extends an invitation. Venture forth, chart your course through the universe full of AI’s promise, and together, we can script a future where the extraordinary seamlessly weaves into the tapestry of the everyday.
AUTHOR
Nalin Vij
President, Global Sales
SUBJECT TAGS
#ArtificialIntelligence
#GenerativeAI
#AITransformation
#AIEthics
#AIInnovation
#AIInsights
#AIForRetail
#AIForInsurance
#AIForHealth
#AIForTravel