GENERATIVE AI IS HERE
and laws, both domestically and internationally? What measures will companies put in place to monitor the algorithms and outputs generated by GenAI to ensure that they remain unbiased and consider ethical issues?
How will the implementation of GenAI impact existing processes and workflows? This will necessitate redesigning and reconnecting processes with new ways of working. Process changes will change roles and responsibilities of employees. New skills will have to be identified and built. You will also need to address these changes from a fresh D&I perspective as well. Other considerations include understanding potential risks and unintended consequences of automating or optimizing specific processes with GenAI, and how they can be mitigated. GenAI can be integrated with existing process improvement methodologies, such as Agile to enhance their effectiveness. This will increase innovation of processes as well as increase the speed of delivery. It will also clash more intensely with the waterfall approaches of the company as the innovations and cycle of agile revs up. GenAI will also impact customer experience processes and create new opportunities for personalization like never before. It’s easy to see why GenAI will have an enormous impact on company business processes as rewiring or reimagining of processes will rise in intensity and frequency.
It can generate leads and create personalization and predict which customers are most likely to convert. It can forecast demand as well as improve supply chain processes.
For many companies process redesign is one of the most promising areas of GenAI to reduce costs and increase new lines of revenue. It is also most associated with past AI and machine learning solutions and perhaps an area where companies feel more comfortable charging foreword with GenAI.
6. Processes
The process area of your organization’s DNA is focused on automation, Agile methodology, customer processes, operations management, inventory and order management, marketing, sales, fulfilment, supply chain, logistics and distribution, procurement, sustainability/ESG processes, vendor management, BPM/SaaS, and related processes. GenAI is particularly powerful in automating, improving and innovating processes. For example, GenAI can be used to generate personalized recommendations or customer service responses based on a customer’s history or preferences. It has shown creativity in creating personalized marketing campaigns and generating ad copy.
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