Dr. Sue Tripathi, Partner, Data, Analytics, Technology, Transformation, and AWS Alliance Leader at IBM, speaks with Derek Strauss, Chairman at Gavroshe, in a video interview about investing in Generative AI, hyper-personalization, the pros and cons of ChatGPT, the role of CDOs in the balanced use of Generative AI, the importance of right partnerships, and considering near, short, and long term values.
At the onset, Tripathi advises that when investing in generative AI, people should stay adaptive but also exercise caution due to the pros and cons. The use of generative AI and ChatGPT is more about speed and less about accuracy, she says.
Citing an example, Tripathi states how people often use ChatGPT to condense, summarize, and present information, but it can also add material to the source text, raising questions about the trustworthiness of the output.
Next, Tripathi highlights hyper-personalization as it entails tailoring all aspects of digital interactions with the customers and collecting data to discern what customers want based on their context.
She acknowledges that generative AI is also based on customer wants and does not take a priority model or try to put logic in it. Rather, she affirms that it discerns and deciphers based on the customer's context using text, speech, and images to collect data. This data then triggers the system, eliminating the need for conventional software, she adds.
Dr. Sue Tripathi | Partner, Data, Analytics, Technology, Transformation, and AWS Alliance Leader at IBM
In continuation, Tripathi maintains that apart from speed, generative AI brings a significant paradigm shift in how individuals think, interact, and expect from data and information. One of the most important aspects of this is the creation of code that automates actions and facilitates the speed of tasks, she says.
Additionally, proprietary and public data can be pulled from disparate sources and centralized into a single repository, while also establishing a rules layer based on customer needs that can be optimized with AI. Ultimately, generative AI offers a range of pros, creating an ecosystem of partnerships.
Speaking of cons, Tripathi mentions that one of the drawbacks of ChatGPT is the lack of trustworthiness and quality, and it is not necessarily cost-effective. Further, it cannot build loyalty or improve the customer experience, raising the question of data security, privacy protection, and copyright.
As a CDO, Tripathi urges fellow CDOs to balance the pros and cons of using ChatGPT before determining whether it is appropriate for their business. She explains that while certain routine tasks may greatly benefit from implementing ChatGPT, complex issues require further considerations, such as addressing fairness, privacy, and security concerns.
She recommends businesses take a "sliver" of the business and test it out, as this may contribute to increased revenues without compromising trust, loyalty, quality, or privacy.
Moving forward, Tripathi stresses the need to view data as an asset that can be monetized, as well as a product. She suggests considering modern architecture and utilizing real-time data to achieve hyper-personalization with the help of generative AI. This way, speed, accuracy, quality, security, and privacy can be improved.
Furthermore, Tripathi suggests that organizations must ask if the business and its leaders are in alignment and have the necessary tools and resources to identify which aspects of data-as-a-product can be personalized, automated, and optimized for client value. She believes that organizations must also consider both their internal and external clients.
To ensure success, businesses must use data, technology, and people in ways that benefit both the client and the business. She notes that Generative AI can assist in simplifying operations and streamlining the journey.
Thereafter, Tripathi suggests that to make this journey successful, it is essential to include influencers on board to act as change agents, stewards, and even mouthpieces. This will benefit all those involved - the business, the client, and the wider ecosystem.
Partnering both internally and externally, however, can be a challenge, says Tripathi. To overcome this, she advises pilot testing a single action to see if it works and, if successful, scaling it. Having worked across multiple countries, Tripathi also acknowledges the importance of keeping cultural context in mind.
As a certified change management practitioner, she affirms the criticality of considering near-term, medium-term, and long-term value. To achieve desired outcomes, one must be aware of where to deploy and which tools to apply, which requires alignment within the ecosystem, Tripathi concludes.
CDO Magazine appreciates Dr. Sue Tripathi for sharing her insights with our global community.