Most businesses are now either using AI in this or another manner or have at least heard of it. Generative AI, in turn, seems to be explored a little less widely yet. In the meantime, it offers quite a lot of practical solutions. Let’s see what these are.
What’s Gen-AI Exactly?
Gen-AI is a subset of AI, the key feature of which is that it can create new content, not just merely analyze existing data. It likewise excels at recognizing patterns and making predictions. But it goes even further and generates original outputs:
- text
- images
- music
- even software code.
For example, any AI tool is capable of analyzing customer feedback and finding trends in it. A Gen-AI tool, in turn, can also generate personalized marketing messages based on this analysis. Each message will be tailored to different customer segments. Needless to say, this opens up new avenues for innovation and differentiation. It is thus not surprising many businesses turn to generative ai development to get custom solutions for marketing, sales, and other purposes.
4 Ways To Use Gen-AI In Your Business
Optimize Data and Processes
One common challenge businesses face is incomplete or inaccurate data. Gen-AI can help in the following manner:
- clean, organize, and enrich datasets
- fill in gaps
- correct errors
- generate synthetic data to supplement existing records.
For instance, a retail company could use such a tool to clean its customer database and fill in missing details like email addresses (or correct outdated information).
Besides, Gen-AI can help businesses forecast trends and outcomes. For example, in manufacturing, it can analyze production data to predict equipment failures. In retail, it can forecast customer demand and reduce overstocking.
Automate Complex Tasks
AI has been initially viewed as a solution that would automate everything. For a long time, the limit was the type of tasks. It was believed that AI could only automate simple repetitive tasks but not those that required creativity. Gen-AI tools bring this to a new level because they can automate even complex, creative tasks.
Automated content creation, for instance, is no news anymore. And we, first and foremost, mean high-quality marketing content here:
- blog posts
- social media updates
- product descriptions.
Many e-commerce businesses today create product descriptions with Gen AI tools. They only engage human writers when there is a need for more strategic content.
Similarly, Gen-AI handles personalized email campaigns, chat responses, and customer service interactions. And in industries like legal and finance, it automates the drafting of contracts, legal briefs, and financial reports. A law firm, for instance, might use it to draft initial versions of contracts based on client inputs, which saves tons of time for lawyers.
Enhance Customer Experience
Given that Gen-AI optimizes and automates quite a lot of processes, it naturally improves customer service. Because everything flows faster and with fewer errors, customers are generally happier and, as a result, more loyal.
The most common example of Gen-AI in customer service is virtual assistants. Perhaps, your business is already using ones or you have dealt with those as a client. Such assistants can engage in pretty complex conversations, understand context, and provide personalized recommendations. In a bank, for instance, such an assistant can guide customers through applying for a loan, answer questions, and give advice based on the customer’s financial history.
Empower Employees
From what we’ve discussed so far, it may appear that it is the client who benefits most from Gen-AI. It is, of course, so but it’s only half of the truth as they say. Employees, too, can find many benefits in the use of Gen-AI tools.
Creative industries, for example, can use such tools in brainstorming sessions. That is, they can provide data sources and ask the tool to study those and come up with creative solutions, headlines for articles, unobvious questions, or whatever else.
An advertising agency, in turn, might use Gen-AI to generate multiple campaign concepts in response to a client brief. Of course, it’s not a good idea to use these concepts without editing, but the creative team can, at least, use them as a starting point.
And, of course, Gen-AI can take over repetitive tasks:
- data entry
- scheduling,
- report generation.
In effect, if you provide your employees with access to generative artificial intelligence, educate them about its opportunities, and encourage them to experiment, soon enough, they are likely to come up with cool ideas on how to use it in their daily jobs.
Final Thoughts
There’s this widespread belief that generative AI is primarily used in the tech industry. You now see it’s not. Marketing, energy management, HR, and finance are only a few examples of industries where Gen AI has already rocked. Of course, it’s not always immediately clear how to implement it. But that is no excuse for missing all those opportunities we discussed above. When in doubt, turn to professional services, and they’ll help you plan Gen-AI’s integration specifically for your company.
