How to Prioritize GenAI Projects: A Great Framework

12 Mar, 2024 •

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In navigating the expansive landscape of GenAI Projects, it’s evident that their potential applications are vast. However, to ensure optimal and timely effectiveness within enterprise business functions, a deliberate prioritization of use-cases is paramount. This entails aligning each project with the overarching business objectives while also assessing the level of user engagement it could enhance. By employing such a framework, organizations can strategically allocate resources and prioritize GenAI Projects that promise the highest return on investment (ROI) and contribute most significantly to their goals.

Business Objectives: Determine Your KPIs in GenAI Projects

With respect to business objectives, consider the three classic key performance indicators (KPIs) for a business:  

1) Revenue gain, both for current run-rate as well as new opportunities to be revealed by GenAI 

2) Reduce costs: e.g., COGS improvement, i.e., cost efficiency driven by GenAI-derived productivity gains 

3) Customer Experience (CX), especially for B2C enterprises is typically recognized as important to drive adoption and decrease churn.  

Evaluate the Engagement Index of Tasks 

The second dimension to consider for GenAI Projects is the engagement index of the use case. If GenAI is assisting a user in doing their job as part of their everyday efforts, it has a higher engagement index vs. another use-case where benefit is gained in a task performed occasionally.  

Engagement should be considered across these dimensions, discussed in a prior blog

  • Answer: simply answers a simple question to a human. This is essentially the historic business intelligence (i.e., SQL query) and search paradigms (such as Google). 
  • Assist: goes beyond answering one question to answering a combination of questions along with reasoning (i.e., via an inference engine.). This is an intelligent co-pilot as an assistant to a human. 
  • Automate: this completely removes human involvement to execute a task. This is more of a forward-looking topic for now with respect to GenAI. But to the extent it’s possible today, organizations should look for low-risk and reversable tasks to automate first. 

Using this approach, organizations can prioritize use-cases which will deliver highest value and ROI. 

An Example Prioritization 

Focus of efforts depends upon your organization’s business and status of task categories. For example, an organization might put emphasis first on revenue gain, next on CX improvement, and finally on COGS as described in the following table. 

KPIs of Business Objectives Revenue gain   Tables takes – current state of BI and Search  This is where GenAI has the most potential value today  Aim to begin with low risk, reversable tasks.   This is more forward-looking for more serious tasks. 
Reduce costs   
Customer Experience   
 Answer Assist in daily work  Automate 
Engagement 

That doesn’t mean every organization would see things the same way. The prioritization requires consideration of the business and the status of tasks. Therefore, the next section discusses scoring of the current status. 

Score Your Current Status First 

Of course, to be sure you don’t find yourself in a ready-fire-aim scenario, a scoring of your organization’s status across KPIs and task categories should be performed first. Be brutally honest about which KPIs to aim for and where things currently stand for task categories. If not, the prioritization efforts can lose value almost immediately and bomb your GenAI Projects.

A checklist of questions can be used to score your status, such as the following: 

  1. Have you articulated the benefits of the use-case to one of the three value buckets of Revenue gain, Cost Reduction, or Customer Experience?  
    If yes priority = 1, if no, priority  = 2 
  1. Is the capability helping in answering questions or it is assisting a user in doing their job. If it is assisting, then 1, else 2 
  1. Is the use-case for Gen AI assisting an operational workflow? Operational workflow means a process that is performed by a user on a daily basis. If yes, then priority = 1, otherwise 2 
An Example: Using GenAI to Gain Insights with Self-Service Business Intelligence (BI) 

A great example of using GenAI as assistant or “co-pilot” with daily tasks is DvSum CADDI (“Conversational Analytics for Data Driven Insights”) a GenAI tool for self-service BI. 

DvSum CADDI allows any employee with proper authorization to find data and insights themselves with self-service BI by simply chatting with data in natural language.    

DvSum securely combines OpenAI’s GPT-3.5 with a powerful underlying data infrastructure – including data catalog, data governance, and data quality. Therefore, any authorized user can query data quickly, easily, and iteratively.   

With out-of-box connectors, it is set up and running with your live data within four weeks.   

DvSum’s patented architecture allows you to securely work with your existing data sources and systems. Data never leaves your network.   

Built on a strong data-foundation, the DvSum Data Insights platform also includes a data quality module that can help standardize and harmonize data to drive more accurate reporting and insights for your GenAI Projects.

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DvSum CADDI understands the data landscape and automatically accesses multiple databases and systems to quickly provide an answer and the sources cited to confirm the reasoning behind the answers.

Conclusion 

To leverage GenAI Projects effectively and swiftly within enterprise business functions, prioritizing use-cases is essential. This prioritization should be guided by the potential return on investment (ROI) and aligned with the organization’s primary Key Performance Indicators (KPIs). A robust framework for synthesizing and prioritizing options involves evaluating the level of user engagement associated with tasks that GenAI technology could enhance, alongside their impact on key business objectives. Once this framework is established, the company can deploy GenAI Projects efficiently, maximizing their ROI and driving tangible business outcomes.

Harnessing the power of GenAI, DvSum CADDI empowers any employee to become more autonomous and productive with self-service BI to achieve “in-the-moment” analysis. Contact us today to learn how DvSum CADDI can help you.   

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