EXPERT SPEAK
AI maturity is not a pre-requisite to business value generation , however . Gartner ’ s research indicates that early adopters of GenAI are reporting a range of business improvements including 15.8 % revenue increase , 15.2 % cost savings and 22.6 % productivity improvements on average . There is still much work to be done on matching business value , direct return on investment and future value impact of GenAI utilisation , but this initial feedback is quite clear .
In answer to a frequently asked question around the monthly costs associated with a number of these tools , for the most senior levels of the organisation , CxO ’ s ROI can be in excess of 700 % for this monthly subscription spend .
While GenAI certainly offers significant benefits , it also comes with limitations . The most significant limitation is that GenAI models still produce inaccurate responses . Over time these inaccuracies and biases can be trained out of these tools , and we have already seen significant improvements over the past two years in this regard . These optimisations and improvements will only increase over time .
One of the least-understood aspects of the GenAI Large Language Models , that are the foundation for Natural Language Query
GenAI is Artificial Intelligence capable of generating text , images , videos or other outputs , usually in response to natural language prompts .
interfaces , is that there is in fact limited intelligence behind these interfaces . The generated outputs are actually the results of a probability calculation , rather than a human-style understanding of the question or prompt .
It is for this reason that I love the definition of AI to be simulated human intelligence as it is currently a simulated behaviour of what could be expected from a human in terms of the generated output , rather than actual intelligence .
The societal implications of GenAI can also not be ignored . As GenAI becomes more sophisticated there is a very strong likelihood that some employees doing mundane and repeatable work will become redundant as their tasks become automated – and this trend has already started . While AI will result in some new jobs being created , unfortunately these will not make up for the inevitable job losses that will continue to increase more and more over the next decade .
Apart from many of these jobs that can be fully automated , the balance of jobs for the next five to 10 years will most likely be humans working with the assistance of AI . There is real substance to the quote that for the next decade most roles are not at risk from AI , but from a human who knows how to use AI better than you do . •
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