AI has been with us for much of the past decade. The emergence of generative AI means the investments of the past will pale in comparison with those of the future, as business leaders expect AI’s “iPhone moment” to yield real and tangible value. Delivering on their expectations is a considerable task, one fraught with challenges and implementations likely to fail. Technology executives will tread lightly around its innovation potential while ensuring that the core elements of their operations — operating model, talent, and architecture — take a front seat and form the foundation for success in 2024.