In today's rapidly advancing tech landscape, GenAI is a game-changer for enterprises ready to move from dreams to reality. A new report by HFS Research and Tech Mahindra, "Stop Dreaming and Start Doing—Your Practical and Urgent Guide to Winning with GenAI," highlights how businesses can transform visionary ideas into practical applications.
The study reveals that enterprises can no longer afford to hesitate on GenAI initiatives, as its integration into IT programs is set to become widespread within the next 12-18 months.
The report finds that nearly 40% plan to incorporate GenAI into over half of their IT operations soon. It emphasizes the importance of adopting a proactive "doer" mindset to move beyond the pilot phase and achieve full operational deployment, with such enterprises being five times more likely to see functional success.
In addition, the report highlights the need for leaders to harness GenAI's transformative power while managing associated risks, costs, and compliance.
"GenAI is transforming businesses by automating tasks, enhancing content creation, and boosting productivity. At Tech Mahindra, we exemplify how integrating GenAI into core operations drives profound outcomes and fosters innovation to scale at speed. This report underscores the strategic imperative for businesses to embrace GenAI and unlock limitless possibilities,” said Mohit Joshi, CEO and Managing Director, Tech Mahindra.
Additional insights reveal that nearly two-thirds of proactive enterprises channel investments into new value sources and operational enhancements through GenAI. For successful adoption, clear ROI, effective risk management, and data readiness are essential.
Moreover, when engaging with GenAI service providers, prioritizing business value, cost-effectiveness, and robust technical support is crucial for maximizing benefits and ensuring seamless integration.
