Introduction.

Generative AI is revolutionising the way businesses around the globe operate. It offers an almost limitless spectrum of possibilities, from content creation to customer service, coding and communications. 

However.

For small to medium-sized business owners, the rapidly evolving world of Generative AI can feel overwhelming. It’s a relatively new technology after all, and we’re only just starting to understand it’s full potential. 

If you’re seeking to integrate AI into your business operations, read on. We’ll explain exactly what Generative AI is and how it works, as well as ideas for putting it to use in your organisation. 

What is Generative AI? 

Let’s start with the basics.  

What exactly is Generative AI? 

Generative AI refers to a type of artificial intelligence that creates new content. This includes things like images, text or music (you name it!), all created through learning patterns from existing data and generating novel outputs. 

Generative AI involves computer programs, often based on models like Generative Adversarial Networks (GANs), to learn patterns from a set of data. It’s essentially a prediction model that recognises training data, uses it, but doesn’t repeat it. 

For instance.

It could study a collection of images. The “generator” part of the model learns to create new images, while the “discriminator” evaluates how realistic they are. This process continues, with the generator improving its output over time. The result is a system creating unique and realistic content, applicable across many different industries. 

Far from being a threat to business.

Generative AI enables the efficient and effective creation and analysis of content – text, images, data, software code, audio and videos – empowering businesses (of any size) to enhance various aspects of their operations.  

How can Generative AI help businesses? 

Generative AI hit the headlines in late 2022 with the launch of products like Chat GPT and DALL·E. While they initially provided a bit of fun (write me a history essay in the form of a rap song, or give me an image of a labrador on the moon…), the business potential soon became apparent. 

In fact.

The analysis firm McKinsey identified four key areas where Generative AI is most likely to have a transformative impact in the next few years. This includes:

• Customer operations
• Marketing and sales
• Software engineering
• Research and development.

But its reach will be so much wider than this.  

Generative AI can help businesses simplify pretty much any complex task, such as navigating tax codes, sifting through a spreadsheet or summarising legal documents. It’s already proven extremely beneficial in software development, where tools like Microsoft’s Copilot aid in writing efficient code as well as other office tasks. 

As well as Open AI (creators of Chat GPT) other big players like Google, Microsoft and Amazon have entered the race with AI products.  

 To help you get started, Google even offers a handy “Generative AI Navigator” for tailored suggestions on how your business can adopt and benefit from AI tools. 

 With all this innovation, Generative AI is set to enhance fundamental processes in industries as diverse as:  

• Pharmaceuticals: helping with research and development. 
• Media and Television: assisting video editing and script generation. 
• Architecture and Interior Design: drawing plans, illustrating concepts and spotting errors.
• Automotive, aerospace and electronics: speeding up and improving product design. 
• Energy and Renewables: creating efficiencies in production, transport and storage of energy. 

 We could go on…. 

Furthermore.

Generative AI’s impact will extend to other business areas like marketing, design, sales, corporate communications and training – boosting the various processes that weave through modern organisations. 

Generative AI in practice: 7 business ideas.

1. Enhancing product development

Generative AI can streamline product development by pinpointing market needs. For instance, it can identify eco-friendly ingredients for household cleaners, uncover market gaps for unique perfume fragrances, or integrate sustainability practices into manufacturing processes.

2. Improving customer service

Elevate your customer service with speedier information retrieval. For instance, Generative AI can enhance chatbot interactions, assist virtual assistants in providing quick and accurate information, and automate responses to common customer queries. This not only improves customer satisfaction but also frees up human resources for more complex tasks and queries.

3. Increasing employee productivity

Generative AI can boost employee productivity by automating routine tasks. For example, it can efficiently summarise or rephrase lengthy emails, web content or articles. It can help with drafting and editing text, images and media content (whatever you need!), allowing employees to focus on higher-value tasks requiring more creativity and critical thinking.

4. Automating marketing operations

Streamline marketing efforts by automating content creation and dissemination of email and social media content. Experiment with generating text and images with simple prompts, creating frameworks for white papers, marketing plans or content calendars. You can even instantly adapt marketing copy for different regions and customer profiles, saving time and money. 

5. Understanding datasets

Generative AI can simplify data analysis by summarising large datasets that would take staff hours or days to sift through. For example, it can extract key insights from complex data, present information in user-friendly formats such as charts or graphs, and assist in identifying trends and patterns that may go unnoticed through traditional analysis methods.

6. Software coding and development

If you’re involved in software development, chances are you might use AI already. It can assist developers in creating new code and updating legacy systems. For example, Generative AI can suggest efficient code snippets, flag issues, automate repetitive coding tasks and enhance the overall speed and accuracy of software development processes.

7. Risk mitigation and analysis

Generative AI can reduce business risks by analysing data and suggesting solutions. For example, it can identify potential risks in customer transactions, detect faulty software code and enhance overall pattern recognition (especially important for cybersecurity and zero trust models) to proactively address and mitigate risks to your business. 

 In short, the proliferation of Generative AI means human talent is increasingly optimised. With complex data-analysis and everyday tasks taken care of, employees are freed-up to think creatively, implement projects, refine ideas, and build interpersonal relationships. This brings cost savings for businesses alongside greater productivity and profits. 

How to get started with Generative AI in your business.

If you’re getting started with Generative AI, the first step is identifying areas AI can help your business. Then, it’s time to research products (with hundreds of free and paid options) – and start implementing AI into your operations. 

As a rule of thumb.

Always start slowly and begin with internal functions first. By this, we mean not immediately launching into a customer-facing chatbot (for instance) before you’ve tested extensively with employees and internal stakeholders. This will prevent avoidable problems damaging perceptions and trust in your brand.  

And.

It’s also a good idea to always be transparent (telling customers and staff when they’re dealing with AI) and continuously test the performance of any AI systems.  

Keeping security and privacy at the forefront is another key consideration, making sure any sensitive data stays within your organisation. This is important for ensuring AI activities don’t fall foul of GDPR rules or other regulatory developments. All the large Generative AI players (like Google, Amazon and Microsoft) will have clear policies on data-sharing and how it’s used for training models – so make sure you’ve read and understood this carefully. 

In summary.

Generative AI isn’t just a buzzword. It’s a transformative force empowering organisations of all sizes to reduce costs and build efficiencies. But for small to medium-sized businesses navigating this evolving technology, understanding its potential is crucial. Whether it’s streamlining product development, enhancing customer service and employee productivity, automating marketing operations, data analysis and coding, or mitigating business risks, there’s so much it can do. 

If you want advice on integrating AI into your IT operations, get in touch with our expert team at Ohso Technical today. We’ll help you elevate your business with Generative AI – helping you to innovate, streamline and thrive.