The latest McKinsey Global Survey on AI confirms that while AI adoption in the past 6 years was around 50%, it has jumped to 72% in 2024. The same survey also states that 67% expect their organisations to invest more in AI over the next three years. The rapid adoption of generative AI tools is transforming how businesses operate, driving innovation and boosting productivity across industries. Companies are leveraging AI automation to enhance productivity, increase operational efficiency, reduce costs, and make faster decisions. As more organisations explore the benefits of gen AI, it’s clear that those who implement it wisely stand to gain significant competitive advantages.
This blog delves into six organisations that have successfully integrated generative AI applications to improve their productivity, showcasing real-world examples of AI innovation.
Advantages of Using Generative AI to Improve Productivity
Generative AI is reshaping traditional business models by automating routine tasks, generating creative solutions, and enhancing decision-making processes. Here are some key advantages of using generative AI for workplace productivity:
Increased efficiency
With generative AI, companies can automate repetitive tasks and streamline operations. For example, tasks that previously required manual input – such as document generation, report writing, or customer service inquiries – can now be handled by AI systems, freeing up employees to focus on higher-value work. This automation leads to increased output without the need for additional resources, reducing costs while boosting productivity.
- Automates repetitive tasks such as scheduling, content generation, and customer service.
- Reduces operational delays by streamlining workflows.
- Minimises human error, ensuring greater accuracy in processes.
Enhanced creativity
Generative AI enables businesses to experiment with new ideas, from product design to marketing content. By analysing large datasets, AI systems can generate unique insights and creative solutions that drive innovation. This is particularly useful for industries that rely on continuous creativity, such as advertising, entertainment, and product development.
- Assists in generating creative marketing content.
- Provides inspiration for product design and development.
- Speeds up the creative process by offering data-driven insights.
Improved decision-making
One of the most significant advantages of generative AI productivity solutions is their ability to analyse vast datasets and provide actionable insights. This empowers businesses to make faster, more informed decisions based on real-time data. Data-driven decision-making reduces the risk of human bias and improves the overall quality of business strategies.
- Analyses large datasets for real-time insights.
- Reduces decision-making time, allowing for quick responses to market changes.
- Enhances accuracy by minimising subjective biases in decision-making.
Personalised customer experiences
Consumers today expect personalised interactions, and generative AI can help deliver just that. AI systems can analyse customer behaviour patterns and preferences to create tailored experiences, from personalised product recommendations to customised content. This level of personalisation improves customer satisfaction and fosters loyalty, leading to increased business growth.
- Delivers personalised product recommendations based on consumer data.
- Customises marketing content for different customer segments.
- Enhances customer engagement and satisfaction by providing relevant solutions.
Schneider Electric
Schneider Electric, a global leader in energy management faced high demands for sustainable microgrid infrastructure. However, manually reviewing the RFPs for these projects was costly and could not be scaled to meet industry demands. Each RFP was several pages long and had to be assessed by multiple units. Failure to respond on time could result in potential revenue loss.
Schneider used a generative AI solution that processed and evaluated a large volume of RFPs and routed the high value RFPs to the microgrid SME for review. The SME could filter the RFPs based on specific LLM labels, thereby spending less time on each RFP. This GenAI task automation solution allowed Schneider to achieve 94% accuracy in the task of identifying the right microgrid opportunities.
GE Aerospace
GE Aerospace introduced AI Wingmate for all its employees. AI Wingmate is a secure internal platform that helps employees by having human-like conversations on new ideas, initiatives, and learning. It allows employees to enhance productivity by providing instant access to information that is relevant to their tasks. The tool also helps them draft tailored communication or documents and ask questions about complex problems.
AI Wingmate has seen tremendous success since its launch with over 500,000 enquires and 200,000+ pages processed for different AI chats.
Morgan Stanley Wealth Management
As part of its generative AI productivity solutions, Morgan Stanley Wealth Management (MSWM) released a new GenAI tool for its financial advisors named AI @ Morgan Stanley Debrief. The tool, with consent from clients, generates notes on behalf of the advisors in client meetings and provides action items such as emails and summaries.
Morgan Stanley Wealth Management (MSWM) has always been at the forefront of technology adoption. In September 2023, the financial services firm released AI @ Morgan Stanley Assistant, a GenAI-powered chatbot that offers quick access to all of Morgan Stanley’s intellectual capital. One year on, nearly 98% of the company’s financial advisors have adopted the assistant.
Volvo
Known for its innovation, Volvo Group used intelligent document processing to help its workers by streamlining invoice and claims document processing. The group was dealing with a large volume of paperwork and data and required a more efficient way to extract and utilise the information. The solution had to read, analyse, and make decisions on what the next step should be.
Volvo’s generative AI productivity solutions not only simplified document processing but also extracted data from images, such as photos and stamps, and translated documents to and from multiple languages. They were also able to collect data on throughput time, average processing time, and the overall success rate of the automation. Volvo has, so far, saved 10,000 man hours, which is about 850 man hours per month.
Mastercard
Mastercard is using GenAI to double the speed at which it can detect potentially compromised cards. Global losses from payment fraud are estimated to reach $40.62 billion by 2027. Once stolen, fraudsters resell the card credentials to potential buyers on illegal websites by partially revealing the card numbers.
Mastercard’s GenAI-based predictive solution scans transaction data across billions of cards and merchants. It is able to predict the full 16-digit card number and inform Mastercard of fraud patterns. This allows Mastercard to alert banks quickly who can block the card and prevent fraud before it takes place. The GenAI solution increases the speed of identifying merchants at risk or who have been compromised by fraudsters by 300% while reducing false positives by up to 200%.
Procter & Gamble
Procter & Gamble released its internal GenAI workflow optimisation tool named ChatPG for all their employees last year. Nearly 8000 employees signed up for the tool within 2 hours of its launch. As of June 2024, the tool has nearly 30,000 users.
The models have strong intellectual property safeguards, and all employees must attend a mandatory training session. From onboarding to supporting call centre associates, the company is using ChatPG across 35 use cases, aiming to increase productivity and provide a better experience for its employees and customers.
Following up on customer enquiries is crucial for converting leads into sales. Chatbots can automate this process by sending personalised follow-up messages at pre-scheduled intervals, ensuring no lead is neglected.
How XITE Create Can Help You Improve Productivity with GenAI
As these six companies demonstrate, GenAI is a powerful tool for improving productivity across industries. From automating routine tasks to enhancing creativity and decision-making, AI can have a big impact on business operations.
As a generative AI service provider, we at XITE Create understand GenAI’s transformative power and how it can enhance your organisation’s productivity. Whether you’re looking to automate repetitive tasks, streamline workflows, or improve decision-making, our team of experts can implement and integrate AI solutions tailored to your specific needs.
From identifying the right use cases to developing and deploying AI models that drive tangible results, you can take advantage of XITE Create’s generative AI productivity solutions to improve operational efficiency, reduce costs, and accelerate growth.
