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Question 5 - D-GAI-F-01 discussion

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A startup is planning to leverage Generative Al to enhance its business.

What should be their first step in developing a Generative Al business strategy?

A.
Investing in talent
Answers
A.
Investing in talent
B.
Risk management
Answers
B.
Risk management
C.
Identifying opportunities
Answers
C.
Identifying opportunities
D.
Data management
Answers
D.
Data management
Suggested answer: C

Explanation:

The first step for a startup planning to leverage Generative AI to enhance its business is to identify opportunities where this technology can be applied to create value. This involves understanding the business's goals and objectives and recognizing how Generative AI can complement existing workflows, enhance creative processes, and drive the company closer to achieving its strategic priorities1.

Identifying opportunities means assessing where Generative AI can have the most significant impact, whether it's in improving customer experiences, optimizing processes, or fostering innovation. It sets the foundation for a successful Generative AI strategy by aligning the technology's capabilities with the business's needs and goals1.

Investing in talent (Option OA), risk management (Option OB), and data management (Option OD) are also important steps in developing a Generative AI strategy. However, these steps typically follow after the opportunities have been identified. A clear understanding of the opportunities will guide the startup in making informed decisions about talent acquisition, risk assessment, and data governance necessary to support the chosen Generative AI applications23. Therefore, the correct first step is C. Identifying opportunities.

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asked 16/09/2024
Tim Baas
42 questions
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