Regulators must act sharing so that Switzerland is not left among the top 昀椀ve countries worldwide understand that their employees are using swiftly and decisively. behind? in the IMD World Digital Competitiveness GenAI at work, whether they want them to Ranking, making it a leading “digital nation;” or not. Unchecked the potential for harm • Infrastructure: Switzerland already one with the capabilities to facilitate full is enormous, warns Joshi. “All it takes Our experts 昀椀nd that regulation is a critical has large scale data centers which adoption of digital technologies, including is one mistake, one erroneous, false, or priority in Switzerland and elsewhere if are not adequately regulated. Going GenAI. The opportunity to leverage discriminatory message to make its way the goal is to build trust among users and forward, we believe there will be a need Swiss future-readiness and forge a from your organization to your customer the public and leverage the opportunities for greater balance between Swiss unique regulatory pathway for our nation, base, and the damage can be incalculable.” GenAI affords while minimizing risks. and foreign infrastructure to avoid organizations, and citizens should not be Organizations must not wait for authorities How countries and authorities approach overdependence on either. missed. to issue regulatory frameworks and instead regulation will be key. Our experts concur start implementing common-sense policies that, as a rule, regulation should be • Government dilemma: a balancing act now, says Joshi. These should include technology-neutral and principles-based. It between securing trust and ensuring “So far, our approach has been relatively continuous checking of the quality of data is of paramount importance that regulation sovereignty and innovation by investing hands-off. We are now ahead of a massive and broad-scale, cross-functional training on supports and does not inhibit innovation. in AI platforms. opportunity to do things differently: protect the limitations and risks of GenAI; above all, Looking at Switzerland in particular, Swiss • Over-arching digital framework: while privacy and create the framework conditions on the need to check outputs for coherence, authorities will need to factor in our size. As it is imperative that Swiss authorities to promote innovation and foster adoption accuracy, and brand alignment. GenAI a small country, Switzerland is not a high create a policy framework, we would by our population. Can Switzerland punch is not yet ready to be used unchecked in priority for data and platform producers, caution that state-backed AI is not above its weight in GenAI, just as we have any customer-facing sense, he stresses. despite being an advanced digital nation the optimal approach. Ultimately, we done in banking and other sectors? This Instead, he advises organizations to limit its believe it is likely that the EU AI Act should be our ambition.” use to enhance productivity. GenAI is a tool and a knowledge economy with signi昀椀cant that can help marketers experiment and data access needs. The Swiss government will form part of what Swiss authorities Anthony Corbaz, digitalswitzerland ideate, says Joshi, and not a replacement will need to be cognizant of this. go on to adopt given our geopolitical mechanism that can be left to churn out proximity and economic ties. customer-facing content. The onus is on To brace against risk and optimize the leaders to ensure that their organizations promise of GenAI for Switzerland, we There is also a clear opportunity ahead of Meanwhile, organizations understand how to use this technology believe that there are some key areas that Switzerland to leverage its small size; to must not wait to create safely and to encourage its use and the regulators must prioritize as they create or bring 昀氀exibility and consensus to a bespoke adapt existing legal frameworks: approach that respects the regulatory their own guidelines. sharing of bene昀椀ts – the organizational frameworks of our core trading partners, learning it can help engender – while Competition and access to data: being clear and emphatic on rules and • while preserving a free economy orientation Our survey 昀椀nds that more than half of limitations. Neither knee-jerk banning nor Switzerland currently relies heavily on that favors competitiveness and growth. Swiss organizations still have no clear indiscriminatory use of GenAI are options, foreign AI platforms. To balance low policy framework on the use of AI, and this says Joshi, and organizations need to get production of data against high needs, 2024 marks an in昀氀ection point for Swiss is a “huge problem,” says IMD Professor ahead of this fact today. should we be looking at creating Swiss policymakers. Switzerland once again ranks of AI, Analytics, and Marketing Strategy AI or Data Acts that incentivize data Amit Joshi. First, organizations need to