Infographic Generative AI: Unleashing the Benefits and Use Cases
By Insight Editor / 24 Oct 2023 / Topics: Microsoft Azure Data and AI Digital transformation Generative AI
Many enterprise organizations are looking to adopt generative AI but still have questions about the benefits and use cases. Take a look at this guide to learn more about how your organization can leverage this emerging technology.
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Take advantage of all generative AI has to offer.
With generative AI taking the business world by storm, forward-thinking organizations are looking for ways to tap into this emerging technology. Insight ventured into this ever-evolving space early on, discovering those who tap into the power of generative AI can see gains such as:
Increased operational efficiency:
Streamlined and automated workflows instead of tedious tasks and processes mean employees get more done in less time, potentially sidestepping labor shortages and reallocating resources more effectively.
Improved employee experience:
Freed from routine tasks, employees can dive into more meaningful work, expand their skill sets and leverage tools like AI copilots to optimize everything from software development to crafting compelling sales emails.
Enhanced knowledge dissemination:
Generative AI allows organizations to make internal knowledge available via self-service, allowing employees access to the information they need to be effective immediately.
Mitigation of risks and errors:
With more automated processes, the chance for human error is greatly reduced, and with fine-tuning, AI solutions will only get better at these tasks over time.
Transformative customer experiences:
Faster, higher-quality, more customized experiences are possible with generative AI.
Competitive advantage:
Embracing these benefits, combined with being early adopters, empowers organizations to reinvest savings, explore uncharted business areas and stand out from the crowd.
Across the enterprise: Use cases for every department
Regardless of industry, generative AI solutions have the potential to streamline work across the enterprise. Here are some examples of how your organization can leverage generative AI to optimize different areas of your business and accelerate ROI:
Sales and marketing
- Customer and trend analysis
- Performance forecasting
- Campaign reporting
- Ad and content copy generation
Finance
- Fraud detection
- Risk analysis
- Financial statement production
- Investment strategy support
Operations
- Predictive maintenance
- Quality control
- Supply chain optimization
- Production planning
Security and IT
- Creation and definition of corporate security policies
- Identification of potential vulnerabilities
- Performance monitoring
- Code optimization, testing and bug detection
Legal
- Contract analysis
- Compliance monitoring
- Legal briefs
- Contract generation
HR
- Resume screening
- Employee feedback analysis
- Onboarding material creation
- Performance metric reviews
Early adopters: Real client use cases
Fortune 200 electronics firm improves its internal knowledge base.
Summary:
Over six weeks, Insight co-developed a generative AI solution with this major electronics firm. The solution was similar to InsightGPT, consisting of a private instance of Azure® OpenAI® that pulls customer and supplier contracts, 10-Ks and other public financial documentation to be leveraged by sales, marketing and other teammates.
Anticipated outcomes:
Quick access to relevant information will support sales and marketing efforts, especially as they conduct customer-facing work. Further use cases are being identified to reduce employees’ menial workloads — and refocus their time on higher-priority work.
Future business:
The Insight team has provided a 12-month roadmap that includes a sequence of projects to expand the client’s generative AI footprint to other enterprise systems and data strategy tasks.
Staffing and consulting organization enhances its services with generative AI.
Summary:
With the help of Insight Lens™, this client is augmenting its ability to serve customers with generative AI. Through the retrieval of job postings and other hiring metadata from several public APIs, the solution is streamlining the candidate-role match process.
Anticipated outcomes:
With enhanced candidate-role matching, this client is expected to reduce time on both sides of the staffing equation — with job seekers being able to find a fitting role and employers finding higher-quality matches in shorter periods.
Future business:
Once ROI is validated with this initial project, the staffing firm plans to expand use cases across the enterprise.
Business conglomerate taps gen AI for data support.
Summary:
With hard-to-access data plaguing multiple departments, this client sought a generative AI solution that could quickly learn from countless internal documents and ingest them into its applications and databases.
Anticipated outcomes:
With a Proof of Concept (PoC) rollout, this business conglomerate will allow numerous departments to experiment with the generative AI solution in a private secure instance to augment its workflows.
Future business:
This client is eager to deploy more generative AI use cases across its many subsidiaries to expand the powerful benefits.
Vertical-specific use cases
While generative AI can benefit any business, there are specific use cases that enhance critical aspects of industries. With organizations eager to learn how generative AI can benefit their unique business context, our experts have brainstormed high-impact use cases for some major industries:
Healthcare
Predictive diagnostics
Through the analysis of patient data, potential health issues can be identified sooner.
Treatment optimization
With vast amounts of data, AI can help healthcare providers customize a treatment plan for patients based on their medical history and risk factors.
Automated imaging analysis
AI can be trained to analyze X-rays, MRIs and other screenings for signs of cancer or other ailments.
Regulatory monitoring and automation
Generation of legal and compliance documents is a burden that can be taken from healthcare professionals and streamlined with generative AI solutions.
Financial services
Risk management and fraud detection
Generative AI can perform predictive analytics and examine transactional patterns to identify risks and anomalies.
Processing for lending
In the underwriting process, AI can enhance efficiency and reduce human error, resulting in less risk for the client.
Asset management
Portfolios can be optimized based on vast financial data and inform trading decisions.
Personalized experiences
From chatbots that can answer specific questions to custom experiences that meet individual customer needs, AI can enhance the banking or investing experience.
Retail
Improved in-store experiences
From real-time stock monitoring to virtual fitting rooms, the brick-and-mortar shopping experience can be augmented to rival digital alternatives.
Loyalty programs
AI can develop personalized loyalty programs for customers based on previous activity and preferences.
Waste reduction
With the analysis of food waste data, AI can optimize stock and product placement to minimize loss.
Chatbots
A more intelligent chatbot can enhance the digital shopping experience without requiring large numbers of customer service staff to take inquiries.
Manufacturing
Simulation and modeling
Test different manufacturing processes with AI to identify the most efficient and cost-effective options.
Supply chain optimization
Analyze large datasets to forecast demand and optimize logistics.
Automated inspection and safety monitoring
With image recognition AI solutions, manufactured products can be assessed for defects, and potential risks to employees can be identified to prevent accidents.
Dynamic pricing
AI can assess a large array of information from material cost to production capacity to determine dynamic pricing as the market fluctuates to maximize ROI.
From getting your data generative AI-ready to ideating on use cases, your organization can get the support you need to tap into today’s most cutting-edge technology.
Connect with one of our experts to start your generative AI journey.
