There is currently a lot of excitement around implementing AI capabilities into the workplace, with tangible benefits such as increased productivity, processing data analytics, and streamlining operations. However, although using AI tools is simple, implementation is complex and if not done properly can be extremely costly for a business.

From mitigating risks associated with biases and data security to ensuring compliance with internal regulations, the strategic framework is essential. By understanding the nuances of this transformative landscape, businesses can harness the full potential of Gen AI, make informed decisions, and fortify relationships within the customer-supplier ecosystem.

Companies know that to stay ahead, they need a GenAI strategy. Currently, there are only a few players in the Large Language Model (LLM) space due to the high cost of entry. These companies are the likes of Google, Meta, OpenAI, and Amazon, who have created options for Open-Source to Enterprise Grade Models.

There is nothing technically stopping companies who are looking to invest in AI to build their own LLM or use Open-Source models such as ChatGPT that are easily accessible, but these come at high cost or high risk. Therefore, may not be a viable approach.

So, where do you start your GenAI journey?

Here are five possible options for implementing AI into your company and the constraints for each.

The Gen AI journey is multifaceted, and the recommended approach involves combining options based on experience, resource availability, and budget. While using API services is a great starting point, there may come a time when transitioning to building or training your own LLM becomes more cost-effective. Ultimately, finding the right balance for your specific needs will contribute to a successful and sustainable Gen AI strategy.

Want to learn more about AI?

Nick Francis, CTMO at Brooklyn Solutions, deep dives into the history of AI, and why it is now the time to start incorporating it into your strategy in our latest whitepaper. Following on from this discussion of when not to use AI, the whitepaper touches upon the tangible and quantifiable benefits of GenAI in Customer-Supplier Management if used in the right way. To learn more, download our whitepaper for the ultimate GenAI guide.