Generative AI has become a hot topic in 2022. Social media platforms showed images created by models like DALL-E, and Stable Diffusion. It creates data like audio, images, text, and code using existing information as an idea.
Generative AI is getting people more excited because it can make content, music, art and improve data. The most popular Generative AI example is the well-known ChatGPT. It’s hitting 100 million users in 2 months. It’s significant – Google has concerns about how it will impact search revenue.
Technology is expanding in client and enterprise use. Key business Generative AI use cases for enterprises include:
- Personalized customer support and product recommendations.
- Optimizing repetitive tasks for staff.
- Assisting in analyzing large data volumes.
Let’s take a look at some statistics on how enterprises are adopting Generative AI.
Potential Benefits of Generative AI Adoption for Enterprises
- Increased productivity. Generative AI for enterprise can automate repetitive tasks, such as image or video editing, freeing up employees to focus on more strategic work. By 2027, approximately 30% of manufacturers will have adopted generative AI technology to enhance the efficiency of their product development processes (Gartner).
- Personalized customer conversations. Generative AI can be used to personalize content for customers, such as product recommendations. These improve customer engagement and increased sales. According to a survey of professionals in the United States conducted in 2023, 37% of those working in advertising or marketing reported using artificial intelligence (AI) to aid in their work tasks (Statista).
- Boosted creativity. Generative AI enhances creativity by providing new tools and techniques for artists, designers, and writers to explore and experiment with.
- Reduced costs. Generative AI for enterprise reduces costs. It automates tasks and streamline workflows, leading to lower overhead. According to McKinsey, generative design could save 23-38% of engineering time, resulting in cost reductions of 8-15%, while producing creative and non-intuitive solutions.
- Improved customer experience. Generative AI applications help enterprises create content and experiences that resonate with customers, leading to increased loyalty and satisfaction.
- Boosted scalability. Generative AI scales content production to meet demand, enabling enterprises to produce large volumes of high-quality content quickly and cost-effectively.
- Higher competitive advantage. Applications of Generative AI provide a competitive advantage. They enable enterprises to create unique content that sets them apart from their competitors.
Generative AI Use Cases for Enterprises by Industry
Generative AI for enterprises is used for creating personalized product recommendations. It also helps with automating content creation, predicting behavior, and enhancing data analysis. According to Gartner, by 2025, Generative AI will account for 10% of all data produced, up from less than 1% today.
In this article, we’ve talked a lot about Generative AI enterprise use cases in different areas. You can see how it might be used in banking chatbots, online shopping, airports, making cars, and energy companies.
However, you can also check the potential of Generative AI Use Cases for Banking & Finance industry.
Thinking of incorporating Generative AI? Validate your idea with a Proof of Concept before launching. At Master of Code Global, we can seamlessly integrate Generative AI into your current chatbot, train it, and have it ready for you in just two weeks.
Healthcare & Pharma Industry
The technology offers impactful use cases in healthcare and pharma. These algorithms help find new drugs faster by testing them on computers. This speeds up the entire drug development cycle, saving time and resources. Generative AI applications can combine machine learning with CT and MRI scans to enhance and speed up medical images. Also, it looks at patient info to make treatments special for them.
At Master of Code Global, we’ll help to integrate Generative AI into your existing chatbot. Our experienced team will train it and prepare it to meet your specific requirements. Here, you can find examples we are very proud of: Portfolio.
Banking & Finance Industry
Banking and Finance industries can enhance financial literacy with interactive AI-guided learning experiences. It simplifies complex math through conversations and aids in understanding clients.
AI analysis of personal goals and risk tolerance improves customized investment choices. Banks could recommend credit cards more accurately. This Generative AI use case demonstrates how these models can assess spending patterns.
Now, when booking a hotel or seeking help, guests can address the bot in their preferred language. These Generative AI use cases change how travelers use technology in the hospitality industry.
The chatbot with generative AI can present personalized travel suggestions based on individual customer preferences. Moreover, it can choose reviews to meet customers’ requirements. This approach can assist guests in making better-informed decisions.
Check out top: Travel and Hospitality Generative AI Chatbot Examples
Insurance companies use applications of Generative AI to stay ahead as the industry gets more competitive. Bot or application help create policy documents, making the process smoother and faster. It makes personalized quotes by analyzing individual details, helping clients make informed decisions. Moreover, it compares diverse insurance products, simplifying choices for customers.
Generative AI has great promise in retail. It can change how products look based on market trends, consumer preferences, and historical sales data. Plus, it helps guess how much of a product to have by looking at past sales and trends, so stores don’t run out of things people want to buy.
New technology has a lot of potential use cases for the eCommerce industry. Generative AI chatbots for eCommerce provide personalized customer support and product recommendations. It also optimizes inventory management by predicting demand and adjusting stock levels.
Another Generative AI use case is Generative Design, which helps product designers and engineers to optimize designs and find innovative solutions. Overall, it has the potential to automate various tasks.
Moreover, chatbots can improve efficiency, and provide a competitive edge for eCommerce businesses in a crowded market. Discover how Generative AI in eCommerce empowers bots and explore the potential use cases it can bring to businesses.
In 2021, the size of the global AI in telecommunications market was $1.2 billion, and it is anticipated to grow to $38.8 billion by 2031, with a compound annual growth rate (CAGR) of 41.4% from 2022 to 2031.Generative AI use cases have the potential to empower the telecommunication industry.
Telecom virtual assistants can assist customers with inquiries, billing, and account management, providing a personalized experience. Virtual assistant analyze data on usage patterns, device type, and location, Generative AI in Telecom personalized recommendations based on customer behavior.
Inventory allocation can be optimized by predicting demand and adjusting stock levels accordingly using Generative AI. Equipment failure prediction and maintenance scheduling can also be automated within the Generative AI model.
Generative AI-powered airport chatbot assists travelers with flight information, directions, and other queries. Generative AI use cases for airports demonstrate how to analyze passenger data. For instance, it checks flight history and preferred comforts, recommend services, such as dining options or selling offerings. Predicting demand and adjusting stock levels accordingly helps ensure the availability of essential products and services for passengers.
Generative AI in the aviation industry helps to schedule and prioritize maintenance tasks for their facilities and equipment based on data such as usage patterns and historical performance. Overall, Generative AI could transform the airport industry by providing smarter, more personalized services for travelers and improving operational efficiency.
Automotive and Vehicle Manufacturing
Generative AI is increasingly being adopted by enterprises in the automotive and vehicle manufacturing industry. The market size for AI in manufacturing is currently estimated to be worth USD 2.3 billion in 2022. It is projected to grow at a compound annual growth rate (CAGR) of 47.9% from 2022 to 2027, reaching a market size of USD 16.3 billion by 2027.
At Master of Code, we specialized in chatbots development that interact with customers. They provide personalized recommendations for cars, services, and maintenance. Management Optimization is achieved by analyzing large amounts of data from various sources for production planning, quality control, and supply chain management.
Prediction maintenance issues before they occur reduces downtime, improves vehicle performance, and increases safety. Check out the full list of Use Cases for Generative AI in the Automotive Industry.
Energy and Utilities Industry
Generative AI has the potential to transform the Energy and Utilities industry. Some of its use cases include Generative AI Chatbot for customer service, analyzing customer data for personalized recommendations, optimizing inventory allocation, predicting equipment failures for maintenance optimization, detecting fraudulent activities, and optimizing management tasks. These applications can help improve efficiency, reduce waste, prevent losses, and enhance profitability in the industry.
AI can be utilized to monitor carbon emissions, and it has significant potential for multinational companies’ sustainability plans. According to Boston Consulting Group, AI implementation could yield additional revenues and cost savings worth $1.3tn to $2.6tn by 2030. The UK government also launched a £1.5m program in late 2022 to explore the use of AI in reducing carbon emissions.
Generative AI Examples for Business
Generative AI is changing how businesses work. It has lots of uses that make things faster, more creative, and better for customers. In our article, we’ll check out Generative AI examples and some companies using this technology. These include Adobe Photoshop, Notion, BMW, Snapchat, and more.
Let’s see how this technology is changing how businesses work. It’s doing things like making custom ads, analyzing data automatically, and even helping with creative design. This technology is making businesses work better and compete in a tough market.
Generative AI technology has already made a significant impact in various fields, and its adoption is expected to increase in the coming years. Here, we highlight some top Generative AI examples of businesses that have embraced technology and are gathering its benefits.
Adobe announced at its 2022 Max conference the addition of Generative AI capabilities as beta options in its Creative Cloud suite, including Photoshop, Lightroom, and Premiere Pro. The company showcased 10 AI projects during the conference, such as Project Clever Composites, which simplifies the tedious process of compositing images into backgrounds.
Other projects include Project Instant Add, which uses AI to map graphics to video elements, and Project Vector Edge, which provides designers with the ability to collaborate on 2D designs in 3D environments. These projects aim to improve the creative process by automating complex and time-consuming tasks.
Generative AI Solution in Photoshop creative tools allows users to add new objects to an image, create variations based on your existing image, or even add a new section to your composite just by describing what you want.
Notion has launched an Alpha of Generative AI Copywriting Tool that can assist users in generating outlines for blogs, social media posts, and other content pieces. Notion AI can also produce drafts for various types of documents such as meeting agendas, press releases, brainstorms, and even poems upon request. On top of that it could work with your text to fix spelling & grammar, summarize the idea of the text, or translate it.
According to Forbes, after the announcement of the release of Notion AI, there were well over 50,000 users on the waitlist.
One more Generative AI example is BMW. Company used technology to create a unique piece of art called “The Ultimate AI Masterpiece” to project it onto its 8 Series Gran Coupe line. The project involved training an AI algorithm with 50,000 images of artwork spanning 900 years of history to create a new, one-of-a-kind design.
Autodesk is highly focused on AI-based generative design, in which designers or engineers input design goals into the generative design software, along with parameters such as performance or spatial requirements, materials, manufacturing methods, and cost constraints. The software explores all the possible permutations of a solution, quickly generating design alternatives. It tests and learns from each iteration what works and what doesn’t.
Snapchat has launched a chatbot called “My AI,” which utilizes OpenAI’s text engine, ChatGPT. While My AI cannot generate lengthy essays, it can perform tasks that Snapchat users typically enjoy, including providing travel recommendations, suggesting gift ideas, composing poems, and proposing recipes.
My AI was created as a companion for Snapchat users to engage with when no human contact is available. My AI is a version of Snapchat’s ChatGPT, made for mobile devices, and is currently limited in functionality.
Salesforce announces Einstein GPT – Generative AI for CRM. Einstein GPT for Sales enables auto-generation of sales tasks, such as scheduling meetings and composing emails, while Einstein GPT for Service generates personalized agent chat replies and knowledge articles from past case notes.
Einstein Generative AI for marketing can dynamically create personalized content to engage customers, while Einstein GPT for Developers can generate code and provide assistance in programming languages like Apex. Finally, Einstein GPT for Slack Customer 360 apps delivers AI-powered customer insights in Slack, such as smart summaries of sales opportunities and surfacing end-users actions like updating knowledge articles.
Also, Salesforce Ventures, the investment branch of the company, introduced a new fund worth $250 million that focuses on generative artificial intelligence. This fund aims to support the startup community and promote the growth of responsible generative AI.
Companies are using Generative AI to help customers, make work easier, and analyze data. Healthcare benefits from faster drug discovery, while finance uses it for personalized advice. It’s also making hotel bookings easier and insurance more efficient. Acumen predicts that the Generative AI market will grow and be worth $110.8 billion USD by 2030.
Companies like Adobe and Snapchat use technology for design and personalized suggestions. This tech is transforming how businesses operate and compete in today’s market.
The Master of Code team can help integrate Generative AI into an existing Conversational AI platform for your business. Just like how we developed the Slack chatbot with OpenAI integration. This chatbot enables employees to easily get answers to questions about company products.
Generative AI Slack Chatbot received positive feedback and achieved good results:
- navigation through many sources of information
- improve product understanding
- reduces manual work and serves as cost optimization tool
- update and optimize company documents
Explore the advantages of Generative AI in your company. POC will be done in 2 weeks to validate the business idea!