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OpenGov Asia is pleased to extend an invitation to its exclusive OpenGov Breakfast Insights to explore the transformative power of Generative AI in the realm of commerce. Participants will better understand how GenAI can transform decision-making, streamline operations and drive growth.
Generative AI (GenAI) is set to revolutionise commerce and industry, with many businesses already employing or considering its use in anticipation of the paradigm shift it offers in operations. GenAI enhances decision-making by analysing vast datasets and streamlining tasks such as fraud detection and claims processing, thereby freeing up resources for more strategic initiatives.
The potential benefits of GenAI for the commercial sector are vast, impacting a wide range of industries. Stock price predictions, AI-powered chatbots, and personalisation enable organisations to enhance operational efficiency, drive innovation and unlock new revenue streams. By investing in Generative AI, businesses can further foster growth and sustain innovation.
Organisations must see AI as a long-term investment rather than a quick fix. This involves refining strategies, investing in technology, and providing comprehensive training to minimise risks and maximise the potential of GenAI, positioning the company as a leader in AI adoption.
Successfully integrating GenAI requires careful planning and alignment with business objectives. To start, businesses should outline their goals and pinpoint valuable use cases, such as enhancing customer experiences or optimising supply chain management. Whether through strategic partnerships or developing proprietary AI models in-house, choosing the right approach ensures agility and meets the company’s specific needs.
Preparing for the implementation of GenAI requires close collaboration between business and IT leaders to establish supportive infrastructure and align on project objectives, roles and resource allocation. This collaborative effort ensures that the necessary technological capabilities are in place to support the integration of GenAI into existing systems and processes.
A robust data plan is essential for maximising GenAI’s potential. Organisations must assess requirements, risks, and inputs for each use case, ensuring accurate data for meaningful insights. Leveraging unique datasets enables high-value projects while maintaining clean, consistent data is crucial for refining models and fostering innovation. Prioritising data quality and accessibility lay a solid foundation for successful GenAI projects, driving innovation and achieving strategic objectives.
Initiating GenAI initiatives should begin with manageable, achievable projects to showcase feasibility and generate interest across the organisation. These projects serve as proofs of concept, fostering momentum for broader AI adoption.
Achieving successful GenAI implementation requires a carefully thought out strategy that balances skills and budgets, necessitating investment in personnel with expertise in AI development, data science and machine learning, along with adequate financial resources for infrastructure upgrades, software licensing, and ongoing maintenance to support project initiatives.
This OpenGov Breakfast Insight will explore the transformative power of Generative AI in the realm of commerce. Participants will better understand how GenAI can transform decision-making, streamline operations and drive growth. They will leave with actionable insights to apply this groundbreaking technology effectively in their sectors, leading to impactful implementation.
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“Always timely, very nice topics, diverse audience and most importantly short and sweet!”
Citibank Singapore
“This is one of the best event I attended. Speakers, organisers, venue to logistics are perfect. Lots of info sharing”
MUFG Bank
“Good, every delegate is able
think of each question and
speak out their view”
Hong Leong Finance
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