Its transformative impact on business strategy
Mática Partners Team
Sep 18, 2023.
Renew or die" has never made so much sense. In today's digital age, the adoption of advanced technologies becomes essential for the success and survival of organizations on a global level. In this context, Generative Artificial Intelligence emerges as a key tool that transforms how companies approach creativity, personalization, and interaction with their customers, providing a vital competitive advantage in constantly changing markets. Business leaders need to understand the impact that Generative AI could have not only on their businesses but also on society as a whole. Implementing the use of this technology in their business strategies is crucial if they seek to maintain a prominent position in the market.
According to McKinsey, Generative AI will drive improvements in productivity, such as a 40% increase in customer service, a 20% to 30% increase in software engineering, and a 10% improvement in marketing.
The race for innovation has begun. "Now or never" resonates everywhere. "In a market that requires these technologies to optimize productivity and competitiveness levels, it's no longer a question of whether they are necessary or not; industries that don't firmly embrace these technologies will disappear," states Marc Serra (CEO and Co-founder of Mática Partners).
Expanding the Boundaries of Innovation
Generative AI, based on advanced language models like GPT-3, opens up a world of opportunities for business leaders seeking efficiency, savings, promotion, and service quality improvement through automation and large-scale data understanding. By analyzing extensive datasets, Generative AI can identify individual customer behavior patterns and preferences, enabling personalization and process optimization.
Personalization is one of the cornerstones of Generative AI, as customers increasingly seek hyper-personalized experiences. CEOs, CIOs, and CTOs must consider how this Generative AI-driven personalization can improve customer retention, increase brand loyalty, and optimize resources.
How Does Generative Artificial Intelligence Improve Business Strategy?
Generative AI offers these key benefits:
Greater productivity: Generative AI can automate repetitive tasks like image or video editing, freeing up human resources for more strategic work.
Precise customer segmentation and hyper-personalization of their experience: It can be used to personalize content, such as product recommendations, achieving better customer engagement and increased sales.
Boosts creativity: It enhances creative capacity by providing new tools and techniques for exploring unique designs.
Cost reduction: Generative AI reduces costs through task automation and workflow optimization.
In terms of efficiency and cost reduction, Generative AI helps companies produce what customers really want and how they want it, avoiding unnecessary expenses. Additionally, it speeds up processes by generating a wide variety of content automatically.
Ethical and responsible use is fundamental
It is crucial to remember the need for regulation and ethics in the use of these tools, as they directly impact workers and customers. At Mática Partners, we are committed to helping companies employ these technologies ethically and responsibly, promoting transparency and adjusting privacy disclosures to inform about the role they play.
Generative AI is transforming business models, and companies that adopt it are expected to make significant contributions to the economy by 2030.
CIOs face the challenge of harnessing Generative AI as an enabler, accelerator, and agent of change in the business world. In fact, organizations are expected to experience an 8% increase in sales and a 7% reduction in costs over the next three years. Furthermore, there will be a 9% increase in overall customer satisfaction and operational efficiency due to the use of generative artificial intelligence.
In the next three years, organizations that make good use of Generative AI will increase their sales by 8% and reduce their costs by 7%.
At Mática Partners, we have years of experience dedicated to Artificial Intelligence and have been working in this field for some time. We have the best team of specialists and a strong network of partners.
From start to finish, we are here to help our clients closely and professionally. We provide guidance on how to make the most of Generative Artificial Intelligence ethically and responsibly in their business so they can achieve the best results. We also support them in adapting to possible organizational changes that Generative AI may entail and in managing any risks that may arise along the way.
Are you ready to implement Generative AI in your organization? The moment is now 🚀🚀