Question #4. Where do I begin using GenAI most effectively?
Answering the 4rd of the 7 most common questions executives ask
The most important thing to remember about GAI is it's like swimming – there’s no substitute for jumping in the pool. Every executive needs to invest a minimum of 5 hours using GAI so they have enough understanding to make good decisions about where to invest.
Where are businesses currently using GAI?
The majority (over 60%) of GAI efforts are in customer facing functions.
Approximately 61% of companies with 11-1000 employees are using generative AI in the workplace.
46% of companies that have implemented GAI use it more than once a week and just under 33% use it every day.
Over 50% of business leaders have implemented generative AI specifically for content marketing. Chinese and Indian firms have the highest AI adoption rates at nearly 60%. AI adoption was half or less in the USA (25%), UK (26%), Canada (28%), Australia (24%), and others
In terms of industries, Marketing and Advertising companies are the early adopters, but other industries are poised for change:
McKinsey points out that about 75 percent of the value that generative AI use cases could deliver falls across four areas: Customer operations, marketing and sales, software engineering, and R&D– what we call WINS work.
Need to know more?
At Generative AI World on September 12-13, Dr. John Sviokla and Jimmy Hexter will discuss which tasks within the firm are most likely to yield great new value based on their WINS framework (Words, Images, Numbers and Sounds).
Al Silvestri, founder of Coffee Labs, will show innovative case studies for Kroger and others.
Pieter Schouten of Ensemble Health will discuss how they prioritize 40 proposed AI projects.
Chip Hazard of Flybridge Partners, Rudina Serseri of Glasswing Ventures and Rob Chaplinsky of Link Ventures will discuss where they are investing and watchingfor opportunity.
Conor Grennan, Dean of Students, NYU Stern School of Business will speak to how Generative AI increases employee productivity. Given how central GAI is to education, this will speak to core economics of a global institution.
By the end of our GAI Bootcamp. you will have a clear way to look at your organization for the highest opportunity areas to begin piloting or scaling. For many firms with a high level of symbol work, the productivity implications are fast and profound so certain organizations – like education, technology, professional services, banking, insurance, and others need to move quickly.
Put another way, anywhere there is a conversation with a customer, or an innovation space with lots of possible options for value creation, it is likely that you should look at how GAI can help.
This is the 4th segment in our series of common questions executives ask about GenAI. The others are: