With generative AI, your business can optimize business processes utilizing machine learning (ML) and AI applications across all lines of business.

They can increase customer engagement by presenting curated offers and communication in a personalized way. Generative AI can respond naturally to human conversation and serve as a tool for customer service and personalization of customer workflows.įor example, you can use AI-powered chatbots, voice bots, and virtual assistants that respond more accurately to customers for first-contact resolution. This is why generative AI drastically enhances research and innovation.įor example, generative AI systems are being used in the pharma industry to generate and optimize protein sequences and significantly accelerate drug discovery. These algorithms can summarize content, outline multiple solution paths, brainstorm ideas, and create detailed documentation from research notes.

So, researchers can discover new trends and patterns that may not be otherwise apparent. Generative AI algorithms can explore and analyze complex data in new ways. Next, we give some more benefits of generative AI. They also anticipate it could lift productivity growth by 1.5 percentage points over 10 years. They can help reinvent most customer experiences and applications, create new applications never seen before, and help customers reach new productivity levels.Īccording to Goldman Sachs, generative AI could drive a 7 percent (or almost $7 trillion) increase in global gross domestic product (GDP). Generative AI applications like ChatGPT have captured widespread attention and imagination.

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