More than enhancing creativity, innovation or personalisation, businesses are expecting efficiency improvements from generative A.I.
We are all familiar with the AI-generated ads and commercials from Coca-Cola or Nike. However, these seem to be more gimmicks than major applications. The poll results from last week's audience at the #MetaMarketing #GenAI conference provide an interesting snapshot of the applications of artificial intelligence across various business domains. The highest percentage of respondents, 64%, indicated that their companies are utilising AI for process optimisation. This highlights the significant role AI plays in streamlining and enhancing operational efficiency, making processes more efficient and cost-effective.
Source: MetaMarketing.
Note: Multiple choices allowed. The poll conducted is based on a small sample size, and the results should be considered indicative rather than definitive.
The focus on process optimisation underscores the importance companies place on leveraging AI to drive productivity and reduce costs.
Following closely, 55% of companies reported using AI for routine cognitive work. This application of AI is critical for automating repetitive tasks, thereby freeing up human resources to focus on more strategic and creative tasks. The prime example shown by MetaMarketing at the conference is the extraction of business insights and conclusions from datasets. The automation this (often routine) task points to a broader trend of increasing reliance on AI to handle repetitive processes, ensuring accuracy and efficiency.
Another prominent application of AI, as indicated by 45% of respondents, is in efficient operations. This suggests that businesses are prioritising the integration of AI to maintain and improve operational workflows, reduce downtime, and enhance overall performance. Additionally, 36% of companies use AI for advice and guidance through interactive bots, decision support, and customer service. These applications demonstrate the multifaceted capabilities of AI in providing real-time assistance, improving decision-making processes, and enhancing customer interactions.
AI's role in learning, training, and coaching was noted by only 18% of the respondents. Towards the bottom of the list, at 9% and less, are companies utilising AI for innovating products and services, knowledge management, and quality control. Although these areas show low percentages, they are critical for long-term growth, innovation, and maintaining high standards of quality.
Marketing and sales are currently behind customer service and finance in applying generative AI
Additionally, a poll conducted by Bain in February 2024 reveals the adoption rates for generative AI in various sectors, particularly in pilots and development stages. According to this data, IT/Software leads with a 53% adoption rate, followed closely by Customer Service at 50%.
Source: reworked from Bain, February 2024.
The Finance sector shows a 45% adoption rate, while Marketing/Sales and Operations follow at 43% and 40% respectively. HR/Legal departments, though lower, still show a notable 28% adoption rate. This data reinforces the trend seen at the #MetaMarketing #GenAI conference, highlighting the widespread and varied use of AI technologies across different business applications and functions.
The findings from the #MetaMarketing #GenAI conference illustrate the broad and growing impact of AI across different business functions. Companies are increasingly recognising the value of AI in driving efficiency and enhancing decision-making. As AI technologies continue to evolve, their applications are likely to expand, offering even more opportunities for businesses to harness their potential for competitive advantage.
Comentarios