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Navigating Through the Hype vs. the Realities of Generative AI
Without question, Generative AI is generating an enormous amount of buzz among CIOs and business technology leaders and fellow members of the C-suite. The CEO and the Board are pressing most CIOs and business technology leaders to know what the company is doing to utilize AI capabilities to drive business growth, streamline processes, enhance productivity for knowledge workers, obtain fresh customer and market insights, and develop new Go-to-Market models.
Earlier this year, Piper Sandler released a report that showed that 75% of CIOs are either testing or implementing AI projects, according to Barron’s. It’s certainly been a banner time for AI stocks such as Nvidia. According to Jefferies analyst Mark Lipacis who was cited in the Barron’s article, an analysis of September figures from six top cloud service providers reveals that Nvidia has a commanding 86% market share for AI workloads.
Nevertheless, as the Barron’s points out, there are big opportunities for companies in the AI infrastructure space, such as Super Micro and Vertiv.
Meanwhile, Bloomberg reported today that AI could be adding up to $340 billion worth of profit to Wall St. banks by automating up to 70% of business tasks, according to McKinsey & Company research.
In our discussions with CIOs, CISOs, CDOs, CTOs and business technology leaders at our CIO & CISO Executive Leadership Summits, our Global CIO & CISO Executive Leadership Alliance (CELA) gatherings, our regional advisory board meetings and other forums, we discuss a variety of issues surrounding the use of Generative AI. Beyond dialogue surrounding use cases and applications, the discussions often veer to governance, privacy and security issues surrounding AI initiatives. We also talk about AI services and models that are ready for prime time and what separates those from others that aren’t.
We’ll be teeing up these topics and more on GenAI in our upcoming 2023 Global Innovation Summit on December 12 at The Harvard Club of New York City. HMG Strategy Founder and CEO Hunter Muller will be kicking off the discussions with an Executive Fireside Chat with Tom Peck, EVP, Chief Information and Digital Officer at Sysco who is also the 2023 MIT Sloan CIO of the Year. In this session, Tom will share Sysco’s Recipe for Growth for the global food service giant which relies heavily on AI and machine learning.
In addition, Tom will also share steps he and his team have taken to separate the hype vs. the reality of AI, why AI matters to the C-suite, explore the build vs. buy rationale with AI along with other decision-making criteria.
In another featured session, Induprakas Keri, SVP, Hybrid Multicloud Platform at Nutanix will discuss how AI-ready infrastructure can speed the adoption of AI while protecting the value of enterprise data.
Hunter will also interview Florin Rotar, Chief AI Officer at Avanade on the ‘Top Five Lessons Learned Making GenAI Successful in the Enterprise.’
We’ll also be hosting our 2023 Global CISO Executive Leadership Summit the same day in an adjacent ballroom. Qualified practitioners are able to attend both events if they choose. Here’s the link to review the agenda and register for the 2023 Global CISO Executive Leadership Summit as well.
We look forward to seeing you in New York on December 12 for two star-studded and highly informative networking opportunities!