GENERATIVE AI: REVOLUTIONIZE WORKPLACES AND BOOST BUSINESS EFFICIENCY

Generative AI is redefining how we communicate, create, learn, and interact with technology. This disruptive innovation will massively change our lives, it will revolutionize workplaces and trigger new business models.  

Studies show GenAI technology is the top priority for CXOs, and expectations are super-high. Impact on businesses will be enormous. 

• 90% of knowledge workers will see AI augmenting their workflows by 2026 (IDC Future Scape, 2023). 
• 70% of text- and data-intensive tasks can be supported and optimized by GenAI (Harvard Business Review, 9 trends that will shape work in 2024 and beyond, 2024).  
• Work activities absorbing 60-70% of employees’ work time can be automated in the future (McKinsey, The economic potential of generative AI, 2023). 
• 97% agree that GenAI will enable employees to be more thoughtful and creative (KPMG, Generative AI Survey, 2023). 
• 5-10% of global CO2 emissions can be prevented by using AI (Boston Consulting Group, Reduce Carbon and Costs with the Power of AI, 2021). 

Do you sense that your business could take advantage to optimize workplaces, enhance productivity, elevate customer experience and improve employee experience, but you are not sure about how? Keep reading and embrace the power of possibility. 

GENERATIVE AI & GPT MODELS

As we have recently explored in previous chapters of our GenAI Blog Series, generative artificial intelligence (GenAI) is a type of artificial intelligence that can generate text, images, or other media using generative and large language models (LLM).  

By learning the patterns and structure of their input training data, they can either access all kinds of directories in real time or generate new data that has similar characteristics. We've previously looked at use cases for GenAI, as well as breaking down how it can transform productivity or how you can talk to your data through it, for example. 

We have entered a new era where GPT models can be integrated into custom conversational interfaces capable of accessing specific silos of private information securely, opening a new door to improving employee experience and business efficiency. 

Top 15 Useful ChatGPT Examples and Uses, GrowthTribe, 2023

HOW GEN AI BOOSTS BUSINESS EFFICIENCY

The power of GenAI is to provide personalized models that allow immediate and conversational access to large volumes of internally approved data within a closed loop. This will drive an exponential increase in internal and external communication efficiency, improving employee experience and customer service, reducing time, training, costs and ultimately improving productivity and competitiveness. 

The impact on productivity and business efficiency is enormous. According to BCG there are three levers of improvement over time:  

• Deploy GenAI in everyday tasks to increase 10% to 20% productivity potential. 
• Reshape critical functions for 30% to 50% enhancement in efficiency and effectiveness.  
• Invent new GenAI business models to build a long-term competitive advantage. 

For which business functions will GenAI technology have the highest impact? Sales teams that can access client and product information as well as success stories immediately which empowers them to sell more successfully. Automated Customer Service operations will shorten response time and enhance customer experience. Intelligent GenAI enhanced platforms will be managing documentation, claims, verifications, etc. Marketing processes can be supported by GPT-enhanced content creation and personalization. Software engineering will be highly automated. 

Which sectors will benefit most from this approach? Artificial intelligence and its applications are changing our world at great speed; it is most likely that in a few years all sectors will be pushed to adopt its benefits to remain competitive. However, the sectors with the greatest documentation burden and the most complex and delicate information-based processes are the ones that could be seeing the greatest potential for personalized GPT technology adoption: This includes Banking & Financial Services, Insurance, Healthcare, Retail and Ecommerce, High Tech…). 

PARTNERSHIPS TO ADOPT TECHNOLOGY AND REALIZE BENEFITS

Technology in general, and artificial intelligence in particular, can offer great opportunities but also some risks if not adapted properly. Cybersecurity and compliance with relevant regulations are concerns that must be importantly considered to ensure quality, agility and scalability. Finding the right solutions to maximize benefits and mitigate results requires the right people and know-how. According to IDC, 80% of global organizations will struggle to find enough skilled AI professionals to continually manage and update systems. 

The solution to this challenge is to find the right partners. The potential answer is tech-driven Enterprise Workplace Solutions enhancing employee experience and workforce productivity that are provided by leading service providers. This approach is leading to multiple benefits:  

• FastTrack to boost business process efficiency. 
• Leading process and technological expertise. 
• Enhanced regulatory compliance and data security. 
• Empowerment of own employees to focus on core business and growth targets.   

SPS - GPT ENGINE ENHANCING BUSINESS EFFICIENCY

SPS is one of the world’s leading technologically driven business transformation companies, providing business process services that are changing the game in digital transformation. Aiming to empower businesses to be more successful, SPS has developed a powerful AI-Enabled GPT Engine able to open a new door into employee’s daily basis business efficiency and employee satisfaction. 

SPS - GPT integrates a conversational interface that accesses a pre-established internal directory of information, providing an intuitive user-friendly platform to interact with through queries and answers. The model can be exponentially trained to behave more accurately day by day based on every client’s needs.  

SPS - GPT is powered by the robust structure of the Private Microsoft Azure Platform, ensuring the highest standards regarding regulatory compliance and data protection. 

SUCCESS STORY: DIGITAL ASSISTANT FOR 8'000+ SPS EMPLOYEES

Our solution has been fully applied to SPS Internal Knowledge Center, allowing rapid access to vital information to more than 8k employees worldwide, which boosts their efficiency and productivity. 

The SPS GPT digital assistant helps SPS employees to easily find and access the most current and relevant information according to their individual questions. The tool bridges information silos across business units and local entities, it powers know-how exchange and enables efficient, seamless collaboration around the globe. Discover how SPS GPT can make a difference for your business by elevating employee experience as well as work productivity. 

This SPS GPT virtual assistant provides any standardized information approved by the governance house, following global policies, achieving cost and time savings as well as ensuring data security, compliance and risk management. 

Throughout the next chapter of this series dedicated to GenAI, we will explore the potential challenges and drawbacks of using large language models, as well as the science behind rapid engineering to train them and optimize the results.