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Medium
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Where Are You on the GenAI Hype Cycle?
- The article delves into the parallels between the pharma industry and GenAI economics, emphasizing the importance of responsible and sustainable product development.
- Pharma and GenAI both involve costly investments in breakthrough innovations, balancing risk and potential impact on customers.
- R&D costs in pharma are significant, with drug development requiring smart bets to balance impact and success rates.
- The article highlights the challenges of developing new drugs, including extensive trials and regulatory approvals that can consume time and resources.
- Pharma companies often face the dilemma of tweaking existing drugs versus reinventing them entirely, considering factors like efficacy and cost-effectiveness.
- Efficiency and efficacy are crucial considerations for pharma leaders, similar to the trade-offs GenAI product managers must navigate.
- GenAI PMs are advised to prioritize ruthlessly and make smart bets based on user behavior insights, ensuring responsible decision-making in product development.
- Overheads in GenAI involve significant resources for scaling up features and models, akin to the infrastructure maintenance challenges faced by pharma companies.
- Profitability and cost management are vital for GenAI PMs, who must balance bold innovation with sustainable returns to create lasting value.
- Efficiency in handling large-scale GenAI models and infrastructure is a key focus area for product managers to deliver high-quality results at scale efficiently.
- The article stresses the importance for GenAI PMs to understand the trade-offs between efficiency and efficacy, and build features that integrate seamlessly into user workflows for real impact.
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