Generative AI is transforming businesses and reshaping business priorities.
A recent survey by Gartner underscores this impact, revealing compelling data on the primary focus areas of generative AI initiatives.
Customer Experience/Retention (38%): Topping the chart, nearly 4 out of 10 organizations are leveraging generative AI to redefine the customer journey, aiming to craft experiences that not only engage but also retain clients through personalized interactions. Hyper personalization with AI, predictive analytics for churn are just some of the examples.
Revenue Growth (26%): The pursuit of top-line growth through innovative AI applications is the second most cited goal, with over a quarter of businesses integrating generative AI to unlock new revenue streams, driving better sales messaging, and creating new product offerings.
Cost Optimization (17%): Streamlining operations and reducing expenses by automating processes and optimizing resources is a strategic focus for many, with generative AI providing the toolkit for smarter and more efficient sale operations.
Business Continuity (7%): A foundational aspect, albeit with a smaller percentage, is the utilization of AI to ensure robust business operations, reducing downtime, and preemptively addressing potential disruptions.
🤔 None of the above/Not applicable (12%): Reflecting the diverse market, a notable segment indicates alternative objectives or no current investment in generative AI.
The data speaks volumes about the strategic imperatives driving AI investments today. It’s clear that generative AI is not just a technological upgrade but a strategic asset for forward-thinking businesses.
How do you see generative AI influencing your business priorities?
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