In a rapidly shifting AI landscape, achieving meaningful success with GenAI requires more than just advanced technology—it demands a well-coordinated strategy and strong organizational alignment. Strategic tools like SPM are critical in this process.
GenAI is transforming the enterprise landscape, with Gartner forecasting that 80% of businesses will deploy GenAI-enabled applications by 2026. However, many enterprise leaders are grappling with the complexities of scaling GenAI, with a notable gap between initial adoption and meaningful deployment.
Notably, a recent study my company conducted with Oxford Economics underscores this challenge. Although 65% of the 4,500 respondents surveyed reported positive returns on their GenAI deployments, only 23% deemed these gains significant. There’s clearly a gap that organizations must bridge to flourish in the burgeoning era of AI and see ROI for the GenAI technology they are implementing.
Aligning on an Enterprise-wide AI Strategy
Enterprise leaders may be undervaluing a critical component to GenAI success—getting cross-company alignment on a cohesive (and realistic) AI strategy. Those realizing ROI with GenAI have a clear, shared AI vision across the organization and an actively engaged C-suite. In fact, 65% of AI pacesetters are ahead of the curve by following this approach. Without such alignment, organizations risk encountering roadblocks that hinder their ability to scale GenAI and fully capitalize on its potential.
Strategic Portfolio Management (SPM) can play a pivotal role in aligning goals and strategy for GenAI deployments at the senior-most level, helping to clearly define AI ambitions and establish enterprise-wide measures of success. Gartner predicts that by 2025, 70% of digital investments will fall short of their intended outcomes without proper SPM. With SPM, organizations can seamlessly link GenAI strategies with business objectives, prioritize critical initiatives, and help minimize inefficiencies.
See also: Beyond the Euphoria: Responsible Use of GenAI
Planning and Delivering on GenAI Initiatives Effectively
As GenAI deployments accelerate, enterprise leaders need to assess and manage AI initiatives to ensure alignment with key business objectives—such as driving revenue growth, enhancing customer experiences, and improving operational efficiency.
SPM frameworks can systematically evaluate AI initiatives organizations should prioritize, mapping against the overarching strategy and goals. This enables technology teams to plan clear product roadmaps from initial experimentation through to full-scale implementation. That way, they can move away from fragmented or speculative AI projects and toward more high-impact areas with the greatest potential for success.
See also: GenAI Can Transform Business Operations—But Companies Must Walk Before They Can Run with It
Fostering Collaboration and Continuous Iteration of Product Roadmaps
The fast-paced advancements in Generative AI, coupled with the inherent uncertainty of today’s operating environments, require continuous review and adjustment of product roadmaps. Successful GenAI implementations hinge on fostering cross-functional collaboration and embracing a mindset of continuous learning. Organizations need a cohesive approach that bridges various departments to ensure AI initiatives are integrated seamlessly across functions.
SPM can facilitate this process by enabling straightforward collaboration to update plans and roadmaps, as well as intuitive communication of GenAI’s progress and adoption’s value. These tools help teams to quickly and accurately grasp the implications for their work, minimizing disruption and expediting necessary changes. With complete transparency into all activities, business leaders can then validate the impact of their changes.
The Cornerstone of GenAI Success
In a rapidly shifting AI landscape, achieving meaningful success with GenAI requires more than just advanced technology—it demands a well-coordinated strategy and strong organizational alignment. Ensuring that AI initiatives are seamlessly integrated with broader business objectives is essential for unlocking their full potential.
Strategic tools like SPM are critical in this process. By aligning AI initiatives with organizational goals, optimizing resource allocation, fostering cross-functional collaboration, and creating a clear product roadmap to deliver on these initiatives, SPM helps organizations navigate the complexities of digital transformation effectively. This strategic approach ensures that AI investments are not only impactful but also deliver substantial, measurable returns. As businesses aim to harness the full potential of GenAI, adopting robust SPM tools will be crucial for achieving sustained success and maintaining a competitive edge in the market.
