Business value of Generative AI use cases

Abstract

This paper discusses the significant impact of artificial intelligence (AI), specifically generative AI (GenAI), on various industries and business processes. It highlights the rapid adoption of AI technologies and their profound influence on global business operations. The paper shares views on the substantial growth rate for the technology, with many businesses already in piloting phases or production stages. It emphasises the transformative role of generative AI in creating new services and products, necessitating changes in operating models, technology stacks and workforce skills. The paper also touches on various industries affected by AI, the potential for automation and augmentation and the strategic planning required for businesses to effectively implement and benefit from these technologies. Additionally, it discusses the importance of responsible AI, addressing risks such as bias and privacy, and complying with emerging regulations. The paper highlights the crucial role of AI in modernising business practices and creating competitive advantages in various sectors.