Impacts of Generative AI on Business

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The rise of generative artificial intelligence (AI) in the business landscape has been remarkable in recent times, garnering increasing interest among executives and claiming a significant portion of the IT budget. Gartner’s recognition, positioning generative AI as the top expectation among emerging technologies in 2023, underscores its profound impact on both business and society. However, in a year characterized by a focus on AI, the challenge of aligning expectations with the practical benefits that the technology can deliver to businesses has become evident.

IBM’s study “Generating ROI with IA” reveals that many organizations faced challenges when adopting generative AI, ranging from neglecting strategic integration to underestimating the complexity of implementation. Despite the average return on investment in AI initiatives standing at 5.9%, the study highlights that companies implementing the technology boldly and with discipline are reaping increasing profits.

The return on investment in generative AI can meet expectations but only with a disciplined approach. Business strategy should guide AI implementation, prioritizing areas that drive competitiveness and innovation. Careful selection of the operational model and ethical data management are crucial for its effectiveness. Furthermore, the application of AI in operations (AIOps) stands out as a key component to integrate people, processes, and platforms, driving operational efficiency and multiplying the return on investment.

However, trust emerges as the core of this technological evolution. Building trustworthy AI requires adopting principles, processes, and practices that promote responsible development and innovation. As organizations redefine how they conduct business and incorporate innovation, those able to align generative AI with a foundation of trust will reap tangible benefits, securing their position at the forefront of technological transformation.