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Time is of the Essence: Companies Must Act Fast to Reap the Benefits of Generative AI While my recent posts highlighted important shortcomings of LLMs, I am deeply convinced of their transformative potential. Below a study highlighting the importance to move now. I especially like the statement: The main leverage lies in linking AI strategies directly to growth, customer loyalty and competitive advantages. **Summary:** Companies have a two-year window to fully utilize the potential of Generative AI (GenAI) before competition catches up. The study surveyed global companies, including 70 leaders from Germany, and found that most companies are still at the beginning of their GenAI journey. The research highlights the importance of integrating GenAI strategically to improve efficiency, customer experience, and competitiveness. German companies are particularly committed, with 42% willing to invest up to 10% of their technology budget in GenAI. However, companies face challenges such as data quality, talent, and cultural transformations to successfully implement GenAI. The study emphasizes the need for a holistic approach, involving business and technical skills, as well as partnering with companies that offer IT solutions and business services. Created using AI-Share from AI-Readiness.ch #AIShare #AIReadiness
