As a consultant who advises companies on developing strategies for AI adoption, I hear from a lot of business leaders who think it's too early to start planning for generative AI. They say things like:

• "It's still too experimental."
• "We don't have the resources to invest in it yet."
• "We don't know how it would apply to our business."

I understand these concerns. Generative AI is a new technology, and it's still evolving. But I also believe that businesses that start planning for generative AI now will have a significant competitive advantage in the future.

To illustrate this, let's compare generative AI to other technologies that have had a major impact on businesses:

• The Internet - When the internet first emerged in the 1990s, many businesses were hesitant to adopt it. They didn't see how it could be relevant to their business model, or they thought it was too expensive. But the businesses that did invest in the internet early on were rewarded with a significant competitive advantage.

• Mobile Computing -Similarly, when smartphones and tablets first became popular in the early 2000s, many businesses were slow to adopt them. They thought they were just toys for consumers. But businesses that did start thinking about how to use mobile computing early on were able to reach new customers and markets, and they were able to improve their operational efficiency.

• Cloud Computing - Cloud computing was another technology that many businesses were hesitant to adopt at first. They were worried about security and privacy. But businesses that did start using cloud computing early on were able to reduce their IT costs and scale their businesses more easily.

Generative AI is another technology that has the potential to revolutionise businesses. It can be used to automate tasks, create new products and services, and personalise customer experiences. Businesses that start planning for generative AI now will be well-positioned to take advantage of these benefits.

Here are a few tips for business leaders who are starting to think about generative AI:

• Identify your Potential Use Cases - What tasks could generative AI automate in your business? What new products or services could you create with generative AI? How could you use generative AI to personalize your customer experiences?

• Start Small - You don't need to invest a lot of money or resources in generative AI right away. Start by experimenting with small projects. This will help you learn how generative AI works and how it can be applied to your business.

• Build a Team of Experts - Generative AI is a complex technology, so it's important to have a team of experts who can help you implement it. You can either build your own team or hire a consulting firm.

I encourage all business leaders to start planning for generative AI now. It's a technology that has the potential to revolutionise businesses, and businesses that start early will have a significant competitive advantage.