Generative AI in organizations

Before evaluating the usefulness of an emerging technology, it is important to properly define it. So, what is generative AI? Generative AI is a technology with the capability to learn and reapply the properties and patterns of data for a wide range of applications, from creating text, images, and videos in different styles to generating tailored content. It enables machines to perform creative tasks previously thought exclusive to humans. This creates a wide range of applications for generative AI – from summarizing and translating text to customer service. One prominent example of the technology is OpenAI’s ChatGPT, which focuses on text generation and has seen significant popularity among consumers.

Naturally, the range of uses holds a lot of appeal for organizations, which see potential for accelerating growth, enhancing operations, and unlocking new opportunities. Already, 96% of organizations say generative AI is on their boardroom agenda. And their outlook is quite optimistic: executives predict improvements of 7–9% resulting from generative AI adoption in just the next three years, and about one-fifth of executives surveyed globally say generative AI will significantly disrupt their industries.

In light of the growing relevance of generative AI to organizations, we aim in this report to introduce generative AI to business audiences and executives, highlight interest in the technology and evaluate the market’s view of its potential, look at its various applications across business functions, and examine the top industry use cases. Finally, we provide a few suggestions to organizations to help them on their generative AI journeys.