Generative AI is transforming industries by enhancing customer experiences, boosting productivity and automating processes across sectors
Generative AI has evolved from a novelty in boardroom discussions to a transformative tool across industries. Extending the capabilities of traditional AI in automation and predictive modeling, it’s reshaping business processes, customer experiences, and employee productivity. Sectors such as pharmaceuticals, airlines, healthcare, manufacturing, and banking are seeing tangible benefits, as generative AI unlocks new avenues for value creation.
Enhancing Customer Experience: Improving customer experience is a key priority for businesses today. Companies with both physical and online touchpoints are turning to generative AI, leveraging large language models (LLMs) to provide personalised recommendations that enhance buyer satisfaction and drive revenue growth.
In the airline industry, Alaska Airlines has harnessed AI to offer customised flight and travel suggestions based on customer preferences such as budget and timing, significantly elevating the booking experience. By personalising interactions, AI is allowing businesses to delight customers in ways that were previously time-intensive and difficult to scale.
Revolutionising Creativity:
Generative AI is also making waves in content creation, democratising creativity, and improving productivity. It allows companies to generate high-quality content quickly, reducing manual input and turnaround times. For example, Belk Ecommerce utilises generative AI to craft engaging product descriptions, ensuring consistency across marketing channels. This automation not only boosts operational efficiency but also delivers a cohesive shopping experience. Customer service is another area seeing improvements through generative AI. Firms like Klarna, a fintech company, use AI-powered virtual assistants to handle millions of customer service requests, providing quick resolutions and reducing repetitive inquiries. This AI application results in faster, more accurate service and improved customer satisfaction.
Boosting Productivity:
Generative AI’s ability to enhance employee productivity is becoming increasingly evident, especially in automating routine tasks. By freeing employees from monotonous work, AI enables them to focus on higher-value tasks that require strategic input. This shift is particularly significant for industries where frontline workers are pressed for time. Home Depot’s US stores provide a prime example of AI-driven employee enablement. They employ AI-powered apps to assist in decision-making, inventory management, and task prioritisation, resulting in improved store operations and employee satisfaction. Generative AI also enhances documentation processes in sectors requiring high volumes of detailed reports. For instance, Bristol-Myers Squibb has integrated AI into their documentation workflows, enabling rapid processing of clinical trial data and transforming complex, time-consuming tasks into streamlined operations. Such innovations are revolutionising sectors where speed and accuracy are paramount.
Leveraging Data: With the increasing digitalisation of the world, businesses are relying more on data-driven insights. Generative AI can sift through vast datasets, extracting valuable insights to support better decision-making in areas such as research and data analysis. This capability is exemplified by Spotify, which uses AI to create personalised podcast previews, improving content discovery and user engagement.
As generative AI transforms industries, businesses are preparing for widespread changes in operations, AI can augment every function.
However, with these advancements comes the challenge of upskilling the workforce. Organizations need to ensure their employees are adaptable and equipped to leverage AI
(The writer is co-founder & chief operating officer, Simplilearn; views are personal)
