How the Generative AI boom can help enterprise companies get more from their tools
The power of AI has been a hot topic for a few years, but in the last couple months of 2022, all eyes were on the newest Generative AI tools. Overnight, we saw everything from portraits to poems, familiar characters in new situations, and everything in between.
While most of the excitement focused on fun, the surge in interest in AI has important implications for businesses and employees. According to McKinsey, those enterprises that adopt AI technology are seeing both cost savings and revenue increases for their teams, particularly in sales and product. In the same study, McKinsey also reported that the top performing enterprises are the ones who are leveraging AI products to empower their employees.
Despite the success, some executives hesitate to invest in AI tools. But here’s why we think the attitude will shift thanks to what we saw with Generative AI’s popularity.
Practice makes perfect
One of the first barriers any new technology faces is user understanding. AI, specifically, earned a reputation for being used by robots. Teams that want to implement AI technology must overcome preconceived notions others have about what AI is used for and how it can improve workflow.
Generative AI brings exposure to the masses to prove that not only is it a simple technology to use, but it is immediately beneficial. In a time when companies are struggling with adoption and usage of their current tech stack, investing in a tool that proves to be simple and immediately valuable is a huge advantage. The hours individuals spend engaging with AI tools also means they will feel more comfortable with the capabilities and outputs. In short, exposure and practice with Generative AI tools will result in more companies seeing the cost savings and top performing teams we’ve already seen.
More Generative AI users mean better AI products
The second benefit of more people engaging with AI, particularly for those who already leverage AI tools, is the ways the solutions will improve. The more people us a technology, the more we all learn about what is possible now and how we can push the boundaries for the future of each solution.
For those businesses already seeing the impact of AI, that means that your investment now will only grow over time. Not only are you ahead of the curve now, but you will likely be in the first group of organizations who leverage new features from AI as products expand. The investments you make today in AI technology will compound in return throughout the next couple of years.
A new understanding of the power of AI and human creativity
Finally, and maybe most importantly, as people start to engage with AI technology, they will start to understand how AI, automation, and human creativity can work together. Until now, many people have only understood AI as a threat to real jobs for people. And while automation is a helpful tool for offloading tedious tasks for your team, AI is best used as a way to supercharge what your employees are already doing.
Generative AI is sparking all kinds of ideas for new users, and that same enthusiasm and creativity will make it to businesses and operations. As noted earlier, we already know that AI tools help both cost savings and revenue generation, but what else is possible when AI becomes more universal. The possibilities for value creation and cost savings are endless. And it’s possible to start seeing those changes right now.
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