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Closing the Generative AI Gap
By Lisa Johnston
Closing the Generative AI Gap
By Lisa Johnston
Boom, hype, bubble, burst
Call it what you'd like, but the meteoric rise of generative AI is well documented. Sixty-five percent of executives in a recent McKinsey & Company study report their organizations are regularly using generative AI in at least one business function, up from just one-third last year.
Pilots proliferate across the consumer goods industry, from product development to creative optimization to procurement efficiencies. Scaling, however, is a significant challenge thanks to a host of organizational, regulatory, security, technological, resource, and financial obstacles. As Colgate-Palmolive CEO Noel Wallace noted at an investors conference recently: “If we can't scale them, it's just talk and PR.”
Though the initial excitement has simmered, the desire to invest remains strong, Mark Esposito, a professor at Hult International Business School and faculty affiliate at Harvard’s Center for International Development, told CGT. “The potential for generative AI to revolutionize various industries is widely acknowledged,” he said. “However, there's a growing understanding that this is a sophisticated field that demands substantial investment, not only financially, but also in terms of time and expertise.”
Learn how companies like Unilever, Reynolds American, Kellanova, and more are working to close the generative AI gap.
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