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- 🔆 BYO AI to Work: A Telltale
🔆 BYO AI to Work: A Telltale
Microsoft and LinkedIn's latest Work Trend Index, TikTok Symphony ads, and must-have AI Strategy pointers.
Lumi Era
May 23, 2024
🗞️ Issue 19 // ⏱️ Read Time: 5 min
Hello 👋
In this week's newsletter
What we're talking about? The importance of having a robust AI strategy in organisations, highlighted by Microsoft and LinkedIn's latest findings.
Why it matters? 75% of knowledge workers are using AI to boost productivity and creativity. Many leaders are lacking a clear vision. An AI governance framework is crucial for harnessing AI's benefits while mitigating risks.
How is it relevant? By 2026, half of global governments will mandate responsible AI use. It’s essential for businesses to develop a cohesive AI strategy to stay competitive and compliant.
Big tech news of the week…
🦸 OpenAI disbands its “Superalignment Team”, which was established to ensure that artificial general intelligence (AGI) systems remain aligned with human goals and do not act unpredictably or harm humanity.
📱 Google I/O 2024, the company’s annual developer conference, took place last week, and it was all about AI. Here are 100 things they announced.
💢 Slack faces major backlash after viral circulation of its “opt-out” policy, related to how they’re tapping user data to train some of its new AI services.
🌞 TikTok incorporates generative AI into its ads business - “TikTok Symphony” AI suite for brands. The tools will help marketers write scripts, produce videos, and enhance current assets.
AI's Growing Impact in the Workplace
Bring Your Own AI to Work
Are you using the free version of ChatGPT at work? You’re not alone.
Employees aren’t waiting around for their companies to green-light AI usage. The 2024 Work Trend Index by Microsoft and LinkedIn reveals that 75% of knowledge workers use AI to save time and boost creativity, often bypassing leadership and using personal accounts. Despite 79% of leaders recognising AI’s importance, many lack a clear AI vision. This results in inconsistent AI usage across departments, and vulnerability to various data security risks.
These are some of the main risks and consequences to be aware of:
🫠 Mismanaged user access controls, leading to unauthorised access to sensitive information.
😕 Inconsistent encryption, increasing the risk of data theft during transmission from one point to another.
😐 Varying security standards, opening up vulnerability to data breaches.
😦 Unstandardised data formats causing delays and errors downstream.
🤫 Use cases discovered by workers when applying AI to their everyday tasks can have a big impact on innovations and operations - companies are putting themselves at risk by not recognising this potential.
Implementing a governance framework into a cohesive AI strategy is essential to leverage AI’s full potential and mitigate the above risks. Leaders should consider enterprise AI solutions. Why? Because they offer more rigorous privacy measures and proactive strategies to prevent data leaks and attacks. Unlike consumer-focused AI tools, enterprise AI solutions are designed to meet the needs of large-scale organisations with complex business needs.
Microsoft and LinkedIn 2024 Work Trend Index on the State of AI at Work
Crafting an AI Strategy: Key Elements
To successfully incorporate AI, companies must engage in thoughtful planning and ensure alignment with broader organisational objectives. Relying on assumptions about "common sense usage" is not enough, and ignoring or discouraging AI usage is a competitive disadvantage.
5 key considerations for implementing AI solutions:
🔄 Alignment with Organisational Goals: Ensure AI initiatives align with your company’s mission, values, and strategic objectives.
📚 AI Literacy and Training: Actively work to increase AI literacy among employees, encouraging a culture of responsible innovation.
🛡️ Ethical Frameworks and Policies: Establish clear ethical guidelines and best practices for AI development and deployment.
⚖️ Comprehensive Risk Management: Identify potential risks and opportunities to make informed decisions.
✅ Regulatory Compliance: Develop policies to navigate the complex regulatory landscape and ensure compliance with evolving standards.
Do you want to protect your business? Contact us here.
Until next time.
On behalf of Team Lumiera
Lumiera has gathered the brightest people from the technology and policy sectors to give you top-quality advice so you can navigate the new AI Era.
Follow the carefully curated Lumiera podcast playlist to stay informed and challenged on all things AI.
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