This content was created from a video interview with Dr. Justin Trombold. Watch the video or read the article below.

Generative AI is no longer just a buzzword—it’s a reality transforming businesses. However, Dr. Justin Trombold, Collaboration Manager and AI expert at 10EQS explains that many companies are stumbling because they’re not ready. Understanding what “readiness” means is crucial for any business looking to harness the power of AI.

The Concept of Readiness

When we talk about readiness for generative AI, it’s important to grasp that it’s not a one-size-fits-all scenario. Readiness involves multiple layers, and each organization needs to navigate its unique path. Dr. Trombold breaks it down into three core components:

“Readiness depends a lot on what you’re trying to use generative AI for,” says Dr. Trombold.

  1. Strategic Alignment: Implementing the latest AI technology is not enough. Companies must ensure their AI initiatives are integrated into their overall business and digital strategies. “It’s about having the most advanced generative AI use case that aligns with your strategy, but also takes into account that there might be a more simple digital or technology solution to achieve that objective,” he explains.
  2. Disruption Awareness: Generative AI can shake up industries and workforce dynamics. Companies must assess and prepare for these disruptions, understanding how AI will impact their specific sector and the people within their organization. Dr. Trombold emphasizes, “It’s very important to have an awareness internally at the organization of the degree to which disruption risk for your company exists from generative AI, but also as a broader industry and for your people.”
  3. Operating Model Clarity: Clear operating models are essential. This involves having well-defined processes, the right personnel, and a conducive environment for AI to thrive. Without this clarity, even the most advanced AI solutions can fail to deliver the expected value.

More Than Just Technology

One common misconception is that generative AI is all about technology. However, Dr. Trombold emphasizes the human element. Success with AI depends significantly on culture and people. Here’s how:

  • Empowering Employees: Technology alone cannot drive success. Companies must focus on their employees, ensuring they have the right mindset and skills to work with AI. “If you don’t set up your people and have the right people in place that have the right mindset to unlock value, the generative AI value promise starts to go away,” notes Dr. Trombold.
  • Establishing Clear Principles: Operating model principles should be clear and actionable. These principles guide how AI is integrated into the business and how employees interact with these new tools. It’s about creating an environment where technology and people work seamlessly together.

Assessing Readiness

To determine whether a company is ready for generative AI, it is essential to assess several factors:

  1. Past Performance: How well has your organization adopted new technologies in the past? Past difficulties can indicate potential challenges with generative AI. “How effectively has your organization extracted value from implementation of innovative technologies in the past?” asks Dr. Trombold.
  2. Change Management: How effective is your organization at managing change? Generative AI requires significant change across the board, and handling this well is crucial. “Generative AI represents a huge opportunity, but it represents a very dramatic necessity of change management across the organization in a lot of different ways,” he states.
  3. Employee Preparedness: Are your employees ready to operate in an AI-driven environment? This involves quick decision-making, adapting to new tools, and efficiently processing vast amounts of information. “How prepared are your people to make decisions and adapt to an environment where information can be not just collected and distilled and acted upon, but all of those things are true in a fraction of the time?” questions Dr. Trombold.

Evaluating Readiness with a New Tool

Dr. Trombold and 10EQS are developing a diagnostic tool to aid businesses in evaluating their readiness. This tool provides a baseline understanding of a company’s current state by examining internal mindsets, processes, and the softer details that drive value creation. It helps companies identify areas needing improvement and assess their preparedness for scaling AI solutions.

“The readiness diagnostic gives you an initial snapshot as you walk through it and ask yourself some evaluative questions of where are we today in terms of not the technology that’s in place, but as we start to get to the point where technology and use cases start to turn to scaling and start to turn to value,” explains Dr. Trombold.

Next Steps

Generative AI offers exciting opportunities, but success requires more than advanced technology. Companies need strategic alignment, awareness of disruption risks, and a clear operating model. Businesses can better prepare for and thrive in the AI landscape by focusing on these areas and assessing their readiness.

For more insights and to explore how 10EQS can assist your organization in embracing generative AI, click the button below to connect with our team of experts.