The C-Suite’s Playbook for Gen AI: Strategic Takeaways from Deltek’s Roundtable Event

By: Walter Pasquarelli, an expert advisor on AI strategy, data governance, and digital transformation

I was recently privileged to present “The C-Suite’s Playbook for Generative AI,” at a roundtable hosted by Deltek. The event attracted numerous C-suite executives from project-based companies, eager to explore the transformative potential of generative AI (Gen AI) and how to bring it into their business.

In this blog, I share the key insights and strategic approach discussed during the session, aimed at helping businesses effectively integrate Gen AI into their operations.

Exploring the AI Landscape: Present Integration and Future Opportunities

We began by examining the current state of AI adoption among businesses. Deltek’s 2024 Clarity Study for Professional Services reports that AI is a significant priority among businesses, with a large portion of firms utilizing some form of AI or machine learning (ML). Notably, 71% of companies believe successful AI implementation will lead to a substantial competitive advantage, and 58% of firms are confident that AI investments will expand their service offerings. However, over three-quarters (76%) of firms express concerns about potential threats and the impact of upcoming regulations on AI adoption.

Developing a Strategy for Gen AI Adoption

Key to successful Gen AI adoption, however, is an understanding that devising a strategy is intimately linked to execution - a different side of the same coin that helps organizations bridge potential and outcomes. Unlike last year, where most stakeholders I interacted with were preoccupied with understanding Gen AI as a whole, and separating hype from reality, I discovered that the roundtable attendees had a more mature grasp of the technology’s capabilities. This is emblematic of a wider trend, whereby businesses are actively seeking to bring Gen AI into their business and deliver value. How to approach this task and the specific questions they ought to ask themselves was something we outlined in the C-Suite’s Playbook for Gen AI Adoption – a prototype we are currently developing and aim to publish in its full form later this year.

The C-Suite’s Playbook for Gen AI Adoption

Diagram showing the generative AI playbook elements

The Playbook for Gen AI adoption encompasses several critical elements:

1. Identify Needs

Understand industry trends and the competitive advantages that Gen AI might offer. Evaluate internal capabilities to determine where Gen AI can add the most value. Some questions you might pose to the business are:

• What are our competitors doing with Gen AI that we aren’t?
• Which areas of our business have the data and tech infrastructure to support Gen AI right now?

2. Set Goals

Align Gen AI goals with the overall business strategy. Ensure objectives are SMART (Specific, Measurable, Achievable, Relevant, and Time-bound). Again, some pointers to get you thinking are:

• How do our Gen AI goals support our overall business strategy for the next 5-10 years?
• Are our Gen AI objectives SMART?
• Harmonised efforts — no duplication of work, understanding of AI by executives, bridge between technical and non-technical teams

3. Select Technology

Carefully evaluate and pilot Gen AI projects. Establish clear criteria for vendor evaluation and ensure technologies are compatible with existing systems. For example, consider:

• What criteria are we using to evaluate potential Gen AI vendors?
• Do we have a clear process for piloting and evaluating Gen AI technologies before full-scale implementation?

4. Integration

Prepare the necessary infrastructure and ensure systems can communicate effectively. This includes upgrading physical and digital infrastructure, aligning AI strategies, and ensuring data readiness. For example: What workflows need to be redesigned to optimize Gen AI integration?

5. Creating AI Natives

Educate employees on how to work effectively with new systems. Tailor strategies for building an AI-driven culture based on the size of the business. Here are some approaches I have been working on with my clients, aligned to their size of business:

Strategies for building an AI culture based on business size

6. Compliance and Ethical Use

Adhere to AI regulations, emphasizing risk management and ethical considerations. Implement transparency, auditing, and human oversight in AI decision-making processes.

Including humans in the loop will improve the precision of outcomes:

Diagram showing where workers need to be involved in AI deployment

7. Monitoring and Evaluating Success

Track operational efficiencies, calculate ROI, gather user feedback, and conduct regular stakeholder reviews. Establish a clear methodology for evaluating the success of Gen AI initiatives to ensure continuous improvement. For example:

• Performance KPIs could include: Efficiency Tracking and ROI Calculation
• Feedback systems could include: User feedback, Stakeholder reviews, Performance reviews

Conclusion

The event highlighted the importance of a structured approach to AI adoption. Yet, as companies continue to explore the potential of Gen AI, they must focus on building robust frameworks that enhance technological capabilities while addressing ethical, cultural, and operational challenges. This journey towards AI readiness will involve continuous learning and adaptation to maintain a competitive edge.

Check out Deltek’s new whitepaper, Adopting Emerging Tech: How to Streamline Project Management and Boost Productivity with Generative AI, which examines how the latest AI capabilities can help your teams work smarter and deliver more successful projects.