Generative AI: A New Strategic Approach for Companies

Generative AI
José Oliveira

José Oliveira, CEO, BI4ALL

Data analysis and Artificial Intelligence play a fundamental role in the day-to-day lives of managers who want to make more strategic decisions and boost organizational success. 2024 promises to be a year marked by Generative AI, which is seen as one of the key trends that has captured the attention of society at large.

It is undeniable that companies, leaders and employees will be impacted by Generative AI, which offers a series of benefits in several areas, boosting innovation, productivity and creativity.

According to a study conducted by MIT Economics Research in March 2023, ChatGPT makes it possible to complete 37% of tasks faster and 20% better in quality.

In addition to simplifying task automation, Generative AI enables the personalized creation of different content formats (image, audio, video) based on pre-existing data and models.  The growing ability to better understand texts, speeches and feelings leads to better interaction through voice assistants and chatbots. This enables organizations to achieve greater process agility while making the customer experience more efficient, personalized and engaging.

By 2026, Gartner predicts that more than 80% of organizations will have used APIs and Generative AI models and/or deployed applications enabled by this technology in production environments, compared to less than 5% in early 2023.

There is no doubt that Generative AI is transforming the way we work and live, with a giant impact on productivity and creativity. Tools such as ChatGPT, DALL-E and others have become more accessible to any company, regardless of their size. However the real benefits will come when organizations customize the models  to use their own data and thus respond to their real needs.

Using a solution tailored to the organization’s needs will lead to increased effectiveness and responsiveness. Furthermore, the way we work will change and while some tasks will be automated, others will be carried out more quickly and efficiently  in this partnership between Man and Machine.

Let’s consider the case of content generation, where Generative AI is capable of creating original content, such as art, music, text and even product designs, using patterns and information learned through previously processed data. This advance is particularly useful in the creative industries, where inspiration and originality are highly valued.

Generative AI can personalize the Customer experience, providing recommendations and content tailored to individual preferences and tastes. A better understanding of consumer behavior makes contact more assertive and targeted.

Business Process Optimization

Generative AI emerges as an excellent ally for optimizing processes, suggesting improvements and refinements at different stages of production and decision-making. In this way, organizations can identify inefficiencies so that improvements can be implemented, and operational efficiency can be maximized. They can also reallocate human resources to tasks that add more value.

Regardless of the sector in which it operates, an organization that looks closely at its data and is alert to technological innovation is undoubtedly more competitive, strategic and agile.

The development of generative AI is promising and will undoubtedly be on the agenda of decision-makers in the coming months. We are at the beginning of a new era that will transform the way we interact, produce content, and manage organizations.