Seven Pillars of GenAI for Enterprise-Level Value Generation

This report outlines the seven pillars essential for leveraging generative AI (GenAI) to generate enterprise-level value, particularly in the life sciences sector. The document discusses insights gathered from a discussion among senior industry leaders at Axtria's Ignite 2024 event. It emphasizes the importance of aligning GenAI initiatives with strategic objectives, requiring both executive support and measurable value. The report details the need for a robust data strategy to handle unstructured data, highlighting challenges related to data volume, velocity, variety, and veracity. It also addresses the necessity of changing operational models to enhance efficiency and effectiveness through GenAI. Furthermore, it stresses the importance of upskilling employees to fully utilize GenAI technologies and discusses the significance of technology investments and adoption frameworks to drive GenAI usage within organizations. Lastly, the report underscores the need for responsible AI practices to ensure ethical and unbiased application of GenAI in business processes.