Is the gen AI bubble due to burst? CIOs face rethink ahead

In addition, CIOs should consider fine-tuning existing AI models for specific use cases before spending money on training models from scratch, he adds. “This approach can often yield better results with less effort, allowing organizations to quickly realize the benefits of gen AI,” Tahir says.

With large tech companies still heavily investing in gen AI, CIOs will have plenty of opportunities to experiment, adds Stephenson. CIOs should first start by finding problems their organizations need to solve, then consider a wide range of technologies, not just gen AI.

“A lot of times, we try to step back from the loudest voice or just jamming an AI chatbot into a company, and say, ‘Let’s get all the ideas of where we have problems,’” he says. “You can go back to the board and show them what percent could be solved by generative AI, what percent could be solved by other AI solutions, and what part could be solved by technology that’s been around for a while.”