At Beyond, it’s rare for a meeting to go by with clients or new prospects when the topic of Generative AI doesn’t come up.
Businesses have been grappling with figuring out where they should play in this space and looking across the spectrum for ways where it could add value.
They have all heard the hype that goes something along the lines of:
“Generative AI (GenAI) is not just a buzzword—it's transforming how businesses work by streamlining tasks, boosting productivity, and helping companies make smarter decisions faster. From automating everyday processes to accelerating product development, GenAI has the potential to revolutionize operations across industries.”
It's pretty heady stuff and when you are in the Boardroom you are duty bound to sit up and listen and question where the benefits lie for your own business.
By the nature of the questions we are being asked, it’s obvious to us that in the main people aren’t overly confident about where to turn and so are keen to hear a different perspective.
From what we’ve seen and heard, the benefits are actually the most meaningful when you look at how Gen AI can boost operational performance.
Many of the customer facing, more glamourous ideas are brilliant, but perhaps still too early stage to let loose on your valuable customer base.
Here's our take on how companies can tap into this new technology to improve efficiency and scale their operations.
Automating Routine Tasks to Boost Productivity
One of the most impactful ways businesses are using GenAI is by automating repetitive, time-consuming tasks.
This is where the technology has real potential to shine it takes over tasks like writing content, generating code, or answering simple customer inquiries, allowing employees to focus on more strategic work.
For example, AI-powered coding assistants like GitHub Copilot and other GenAI tools are already becoming popular with developers automating routine parts of their jobs, such as debugging or writing boilerplate code.
This not only speeds up the software development process but, used right, also reduces errors, helping teams bring products to market faster.
In marketing for example, AI-generated content tools can write blog posts, ads, and social media content in seconds.
This speeds up the creation process, reducing the time between ideation and execution. Tools like Jasper AI and ChatGPT allow marketing teams to automate copywriting and ad creation, giving businesses a faster, more efficient way to reach their customers.
For retailers, particularly those with a large product catalogue and an ecomerice platform, Gen AI is proving really effective and supporting the development of product descriptions.
Accelerating Growth by Making Smarter Decisions
Generative AI can do much more than automate tasks—it can also provide real-time insights to help businesses make smarter decisions.
By analysing huge datasets in minutes, GenAI helps companies uncover trends and opportunities that would be impossible to spot manually.
For instance, AI can analyse customer behavior to improve sales strategies. Instead of relying on guesswork, companies can use GenAI to predict what customers are likely to buy next, allowing for more personalized marketing efforts and improved customer retention. This can significantly boost both customer satisfaction and revenue.
In the same way, pointing AI at your employee base , businesses with large workforces such as staff banks can use the same behavioural and predictive analysis to support more optimised workforce scheduling and personalised work experience.
Moreover, GenAI can help companies shorten product development cycles.
By quickly analysing market trends and customer feedback, businesses can identify the best features to prioritise, test new ideas faster, and reduce the time it takes to launch new products.
Believe it or not we recently used Gen AI to develop a series of new product design ideas for a Private Label brand to initiative a dialogue on the art of the possible.
What previously would rely on briefing in creatives and take considerable time and effort we achieved in a matter of moments with some judicious prompts.
Streamlining Operations with End-to-End Automation
One of the most transformative uses of GenAI is its capability when it comes to automating entire business operations.
From supply chain management to inventory control, GenAI can handle complex, multi-step processes, making businesses more efficient and reducing operational costs.
For example, Oracle’s AI-driven tools help companies optimise their supply chains by predicting inventory needs and managing fluctuations in demand in real-time.
This not only prevents stockouts but also reduces waste, ensuring that resources are used efficiently.
Similarly, in industries like logistics and transportation, AI tools are being used to optimise route planning, helping companies like Maersk and FedEx cut costs and improve delivery times.
AI can analyse traffic patterns, weather conditions, and even regulatory constraints to create the most efficient shipping routes possible.
Improving Decision-Making Through Data-Driven Insights
Generative AI is also being used to enhance decision-making at the senior executive level.
By analysing large datasets quickly, GenAI tools help business leaders make more informed, data-driven decisions. This is particularly important in industries that rely on rapid decision-making, such as financial services and healthcare.
For example, AI-powered analytics tools can provide real-time insights into market trends, allowing companies to pivot their strategies quickly in response to new information.
This is invaluable for businesses looking to stay ahead of competitors in fast-moving industries.
In the healthcare sector, AI can analyse patient data to help doctors make faster, more accurate diagnoses, improving patient outcomes while reducing costs.
Managing Risk and Ensuring Responsible AI Use
While the benefits of GenAI are significant, businesses also need to ensure they use it responsibly.
Data privacy and security are major concerns, especially as AI systems handle more sensitive information.
When left to their own devices people can easily over rely on Gen AI and let it do ‘the work’.
This is a slippery slope and the old adage, “there’s no such thing as a free lunch” is very true in the Gen AI world. You cannot under emphasise the importance of implementing clear guidelines and best practices to govern AI use within your business.
Companies should also be mindful of the potential biases in AI-generated outcomes.
By setting up proper oversight and accountability, your business can mitigate these risks and ensure that AI-generated decisions are both ethical and compliant with regulations.
Conclusion
In short, by adopting GenAI responsibly and strategically, your business can successfully unlock new growth opportunities and drive operational improvements at many levels.
At Beyond we are helping our clients navigate the opportunities presented by Gen AI.
If you would like to discuss these opportunities within you own business, then get in touch.