Editorial
Throughout history, there have been several paradigm-shifting technologies that have transformed society. Think industrialized manufacturing, the television, personal computers, mobile devices and cloud computing. Today, generative AI has emerged as a revolutionary technology that is already transforming the way we work and what is required for enterprise success.
In a KPMG U.S. study of U.S. executives last spring, almost two-thirds, 65%, of those surveyed believe “generative AI will have a high or extremely high impact on their organization in the next three to five years, far above every other emerging technology.” Yet, nearly the same percentage, 60%, say they are still a year or two away from implementing their first generative AI solution.
New technologies attract the attention of early adopters looking to increase creative capacity or gain a competitive edge. When incorporating GenAI into existing operations, technology leaders have the option between leveraging existing software tools with GenAI capabilities or investing resources in developing their own GenAI solutions. The decision should align with the unique needs of each organization.
Here are some key GenAI use cases across various industries and ideas on how to successfully adopt AI tools and technologies across your workforce:
Use Cases Across Industries
The adoption of GenAI-based tools will vary across industries. While certain AI-based tools, such as a chatbot for customer service, have seen adoption across the spectrum, GenAI solutions are likely to be adopted first by industries that need to be at the cutting edge of technology or have teams with severely limited resources. Examples include:
Technology and Software Development
In the industry at the forefront of AI adoption, GenAI can be used for code generation, software testing and automating various aspects of the software development life cycle.
Health Care and Life Sciences
Enhance patient care during clinical trials, drug discovery, medical imaging analysis, genomics and health care record summarization.
Banking, Financial Services and Insurance
Automate tasks such as loan application processing, insurance quote generation, synthetic data generation for fraud detection and risk assessment and investment advice.
Marketing and Advertising
Content creation, advertising optimization and customer segmentation to personalize marketing efforts.
E-commerce and Retail
Inventory management, pricing optimization, fraud elimination and highly personalized recommendation systems to enhance the customer shopping experience.
Manufacturing and Industrial Operations
Optimize processes, predictive maintenance, quality control and product design.
Establish a GenAI Center of Excellence (CoE)
Create a dedicated team comprised of cross-functional experts who understand your business, technology and data ethics to lead GenAI initiatives. They will drive best practices, streamline GenAI integration and foster innovation.Define a GenAI Usage Policy
Develop comprehensive guidelines for GenAI usage that cover data privacy, security, compliance standards and ethical considerations to help mitigate risks and ensure responsible usage.
Invest in Talent and Training
Upskill your workforce to harness the full potential of GenAI tools by offering training programs that cover not only technical aspects, but also ethical considerations and best practices in AI.
Start With Pilot Projects
Identify areas in your organization where GenAI can have immediate impact and implement pilot projects to demonstrate value, gather insights and refine strategies before broader rollouts.
Partner With Trusted GenAI Providers
Collaborate with established GenAI technology providers to accelerate your journey by leveraging their expertise and ready-to-use solutions.
Focus on Scalable Solutions
Opt for GenAI tools and platforms that are scalable and adaptable to changing business needs to ensure long-term sustainability and return on investment.
Foster a Culture of Innovation
In a KPMG U.S. study of U.S. executives last spring, almost two-thirds, 65%, of those surveyed believe “generative AI will have a high or extremely high impact on their organization in the next three to five years, far above every other emerging technology.” Yet, nearly the same percentage, 60%, say they are still a year or two away from implementing their first generative AI solution.
New technologies attract the attention of early adopters looking to increase creative capacity or gain a competitive edge. When incorporating GenAI into existing operations, technology leaders have the option between leveraging existing software tools with GenAI capabilities or investing resources in developing their own GenAI solutions. The decision should align with the unique needs of each organization.
Here are some key GenAI use cases across various industries and ideas on how to successfully adopt AI tools and technologies across your workforce:
Use Cases Across Industries
The adoption of GenAI-based tools will vary across industries. While certain AI-based tools, such as a chatbot for customer service, have seen adoption across the spectrum, GenAI solutions are likely to be adopted first by industries that need to be at the cutting edge of technology or have teams with severely limited resources. Examples include: Technology and Software Development
In the industry at the forefront of AI adoption, GenAI can be used for code generation, software testing and automating various aspects of the software development life cycle.Health Care and Life Sciences
Enhance patient care during clinical trials, drug discovery, medical imaging analysis, genomics and health care record summarization.Banking, Financial Services and Insurance
Automate tasks such as loan application processing, insurance quote generation, synthetic data generation for fraud detection and risk assessment and investment advice.Marketing and Advertising
Content creation, advertising optimization and customer segmentation to personalize marketing efforts.E-commerce and Retail
Inventory management, pricing optimization, fraud elimination and highly personalized recommendation systems to enhance the customer shopping experience.Manufacturing and Industrial Operations
Optimize processes, predictive maintenance, quality control and product design.Legal Services
Reviewing documents, contract analysis, legal research and automated document generation to increase efficiency and provide more value.Education
Personalize learning experiences, content generation and student support through chatbots and virtual teaching assistants.
It is important to note that not all companies in these sectors will adopt GenAI at the same pace. Factors such as the size of the organization, its technological readiness and how well it is aligned with business goals can influence the timing of adoption by a specific company.
See more: 5 Generative AI Case Studies
Tips for Adopting Generative AI
Establish a GenAI Center of Excellence (CoE)
Create a dedicated team comprised of cross-functional experts who understand your business, technology and data ethics to lead GenAI initiatives. They will drive best practices, streamline GenAI integration and foster innovation.Define a GenAI Usage Policy
Develop comprehensive guidelines for GenAI usage that cover data privacy, security, compliance standards and ethical considerations to help mitigate risks and ensure responsible usage.Invest in Talent and Training
Upskill your workforce to harness the full potential of GenAI tools by offering training programs that cover not only technical aspects, but also ethical considerations and best practices in AI.Start With Pilot Projects
Identify areas in your organization where GenAI can have immediate impact and implement pilot projects to demonstrate value, gather insights and refine strategies before broader rollouts.Partner With Trusted GenAI Providers
Collaborate with established GenAI technology providers to accelerate your journey by leveraging their expertise and ready-to-use solutions.Focus on Scalable Solutions
Opt for GenAI tools and platforms that are scalable and adaptable to changing business needs to ensure long-term sustainability and return on investment.Foster a Culture of Innovation
Encourage a culture that embraces change and innovation by empowering teams to experiment with GenAI tools and contribute ideas.
Every new technology attracts early adopters. In some cases, small, nimble companies are leveraging GenAI-based tools for creative services, while established organizations are avoiding the tools until security and privacy issues are addressed. Regardless, GenAI is here to stay, and the technology is already infiltrating across industries and transforming the way work is done.
See more: Generative AI Is Changing Work. Your Cybersecurity Training Should Change With It
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