Download as pdf or txt
Download as pdf or txt
You are on page 1of 12

FROM VISION

TO INNOVATION:
A GUIDE ON
GENERATIVE AI FOR
BUSINESS LEADERS
Generative AI may be all the hype at the moment, but the foundational
technology has a long history dating back to the 1960s. Though advanced AI
has been a gradual evolution punctuated with bursts of rapid advances, the
technology is now powerful enough to enable brands to deliver exceptional care
at every interaction—delivering stronger CX outcomes as a result.

Generative AI is set to change the world as we know it. While a combination of


machine and deep learning is still in play, generative AI is different than past AI
technologies, because it’s trained to generate content that’s contextual and, in
many ways, more meaningful.

As a business leader, you can take advantage of generative AI in your


organization to achieve revenue generation, cost savings, innovation, and
more. But, like with any other cutting-edge technology, generative AI must be
leveraged the right way for specific use cases that can benefit greatly from its
application. And to do that, you first need to know the core technologies and
techniques behind generative AI.

In this whitepaper, we’ll lay it all out for you: the basics of generative AI, common
business use cases, how to integrate generative AI into your organization, and
protecting against the risks that can arise if it’s not implemented properly.

Let’s dive in.

2
What’s an LLM and What Does it
While generative AI has a lot of promise, it’s important to
Mean for My Business? understand that generative AI is not a ready-made solution and
is instead a versatile technology. Organizations need to address
To truly understand generative AI’s potential—and its constraints—
whether generative AI is a good fit for their needs, and also
you first need to understand the basic aspects of how it works,
ensure that data privacy and compliance requirements are met.
which starts and ends with large language models (LLMs).
Every business will have to explore specific use cases to address
their unique challenges. Most companies will need to do this
LLMs are AI technologies that can handle massive amounts of data—
without the benefit of their own LLM, since they demand
processing it, placing it within the appropriate context, personalizing
substantial investments and ongoing operational costs.
it, and providing answers to questions or solutions to problems
using natural language. These AI models excel in understanding
But you can tap into the power of preexisting LLMs, such as
and generating human-like text, allowing for more sophisticated
OpenAI’s ChatGPT or Google’s Bard, through open APIs. By
and natural interactions with users. When it comes to generative
connecting to LLMs through APIs, the possibilities are endless.
AI, the definition has expanded beyond a simple model. It now
When you incorporate your proprietary data, fostering localized
encompasses a range of approaches, including language models,
knowledge bases, you can leverage LLMs to
image generators, and generative adversarial networks (GANs).
maximize operational efficiency.

Generative AI is distinct from past AI models because


it’s trained on a significantly larger dataset. And
it can handle billions of parameters. Due to
its extensive size, generative AI becomes
exceptionally powerful in doing all the
things we marvel at today—everything While generative AI has a lot
from writing poems to creating images of promise, it’s important to
from text. understand that generative
AI is not a ready-made
solution and is instead a
versatile technology.

3
Your Business Use Cases for Generative AI
Some of the ways to use generative AI will already be familiar to the 100 million or so ChatGPT users.1
The important takeaway from these use cases is not necessarily how to monetize generative AI, but
rather that it’s an emerging technology that has specific applications that are going to expand as it
evolves. Here are the broadest use cases that generative AI is currently being used for:

• Text generation: One of the primary use cases of generative • Language translation: Generative AI has the ability to translate
AI is the automated generation of text. These text generation languages in real time, which can be a great source for those
models can assist in crafting personalized messages, in customer-facing roles. As more LLMs are trained in other
generating web, social, or email copy, and creating written languages, quality and availability will continue to improve.
content tailored to specific needs.
• Summarization and paraphrasing: Entire customer calls or
• Image generation: Image generation holds potential in fields meetings could be efficiently summarized so that others can more
like design, marketing, and gaming. Generative AI can be used easily digest the content. Generative AI can take large amounts
to turn word prompts into images, aiding in training purposes, of text and boil it down to the most essential information, even
architectural visualizations, and even the creation of distributed providing feedback on it if prompted.
system blueprints.
• Developer experience: Generative AI’s potential to reimagine
• Video synthesis: In an era dominated by visual experiences, the developer experience and improve data integration is often
generative AI can accelerate video production. This application overlooked. By acting as an AI assistant, it can guide developers
is particularly useful for augmented reality (AR) and advertising, in coding tasks and provide structured information for efficient
eliminating the need for extensive manual editing. problem-solving.

• Knowledge management: The ability to categorize and sort


large volumes of data enables the identification of common
themes and trends, supporting informed decision-making and
more targeted strategies.
1
“ChatGPT Sets Record for Fastest-Growing User Base - Analyst Note,” Krystal Hu, Reuters, February 2, 2023.

4
According to a report by Bloomberg Intelligence, the generative AI Ecommerce Search and Purchase
market is predicted to grow to $1.3 trillion over the next 10 years from One ecommerce giant is using generative AI to power its image search and
a market size of just $40 billion in 2022.2 This fact might initially recommendation system, reimagining the way customers discover desired
scare some people into thinking that generative AI is “coming for Key metrics
products. With thisto link to system, the company can analyze
state-of-the-art
their jobs,” but research has continually found that instead, it’s images and deliver product recommendations in real time based on visual
compensation models include:
helping workers be more productive. A recent MIT study found similarities. Leveraging machine learning, the company’s AI gets to know
individual customer preferences, offering tailored product suggestions
that participants who were instructed to use ChatGPT for a writing
based on their unique browsing and purchasing history.
assignment increased writing quality, content quality, and originality
by 37%, as compared to a previous writing assignment that didn’t
use the technology, and reduced task times by 10 minutes.3 And
the National Bureau of Economic Research found that generative Automotive Product Design
AI boosted productivity, as measured by issues resolved per hour, in
A leading automotive manufacturer is reimagining vehicle design with the
customer support advisors by 14%.4 These findings demonstrate that
power of generative AI. Using AI technology, the company can generate a
strategic adoption of generative AI for appropriate use cases can
vast array of design possibilities that are then evaluated and honed by skilled
yield a valuable impact on your business.
human designers. This AI-augmented approach allows the company to
venture into uncharted territory, exploring an extensive spectrum of design
Again, it’s important to note that these benefits arise as a result of
options. The result? A reinvention of the ultimate driving machine.
generative AI freeing up workers to focus on tasks that are arguably
more impactful to the business—by handling simple and repetitive
tasks. In other words—generative AI should not be used to produce
the same amount of work from fewer people. Instead, it should Financial Services Customer Support
allow the same amount of people to produce higher quality work.
One of the oldest credit card companies in the world is leveraging cutting-
edge generative AI to deliver customer support via its app and website.
This AI-driven system is assisting customers with managing their accounts,
detecting and preventing fraud, and maximizing the benefits of reward
2
“Generative AI to Become a $1.3 Trillion Market by 2032, Research Finds,” Bloomberg Intelligence, June 1, 2023. programs. It’s also equipped with advanced natural language processing,
enabling customers to ask questions using their own words and receive
3
“The Productivity Effects of Generative AI (ChatGPT),” MIT Management Executive Education, June 25, 2023.
tailored responses.
4
“Generative AI at Work,” Erik Brynjolfsson, Danielle Li, and Lindsey R. Raymond, National Bureau of Economic
Research, April 2023.

5
Implementing Establish an Experience Vision

Generative AI To even begin your generative AI journey, executive alignment through an experience
vision is essential. Here are just a few ways your organization could benefit from an
Implementing generative AI solutions in experience vision for AI adoption:
your organization might seem daunting at
first, but breaking down the process into Determine the very limits of what’s possible for your organization to determine
1
smaller steps can make the task much your angle of entry with generative AI.  
easier to accomplish. And the first step
Target the most cost-intensive areas within the organization in order to create
toward generative AI enlightenment is 2
efficiencies with generative AI.
determining an experience vision—a clear
vision of the desired customer experience
Analyze customer data and examine customer journeys to identify opportunities
to guide the design and delivery of your
3
for alleviating friction points and creating differentiated experiences through
end product or service.
generative AI.

Establish a governance model to help mitigate privacy issues, algorithmic bias,


4
and adverse effects on the workforce—as well as other key risks that need to be
carefully addressed.

Reimagine the fundamentals of your business model, potentially disrupting


5
historical norms and legacy expectations, and unlock new revenue streams.

Once your experience vision is perfected and your team is feeling inspired, it’s time to
put your ideas for leveraging generative AI into place.

6
Develop a Proof of Concept To start a proof of concept, it’s important to define clear objectives and success
criteria. This helps in evaluating the effectiveness of the generative AI solution and
With use cases in place that are appropriate determining its impact on the business. You’ll need a step-by-step plan that outlines
to your organization and what you want to the implementation process, data requirements, and evaluation methods:
achieve, you can set about testing them in
a proof of concept. This approach requires 1 Assess the availability and quality of data relevant to the use case.
minimal investment, reduces wasted effort, Data plays a crucial role in generative AI applications. In cases where the
and improves outcomes, bringing you one required data is insufficient, artificial data generation techniques can be
step closer to innovative solutions. explored to augment the existing dataset. This ensures that the generative AI
model has enough information to learn and generate meaningful outputs.
Before you start building your proof of
concept, you need to address known risks that 2 Start small and gradually scale up.
are unique to generative AI. These include:
This iterative approach allows for testing and refining the generative AI solution
before implementing it at a larger scale. By closely monitoring the performance
• Hallucinations: Because generative AI
and gathering feedback from users, adjustments can be made to improve the
can fabricate answers, you’ll either need to
solution’s effectiveness and address any challenges—human-created or not.
account for that with human intervention
or find use cases where you have a higher
3 Collaborate with domain experts and stakeholders.
risk tolerance. Hallucinations can be
Their input and expertise can provide valuable insights and help align the
avoided by ensuring your data is accurate
generative AI solution with the specific needs of the business. Regular
and adding guardrails around your
communication and feedback loops ensure that the solution is working to fix
content.
real-world problems and continuously improves over time.
• User abuse: The potential for the misuse
By testing out generative AI’s potential in a proof of concept, you can envision new
of a generative AI-powered solution—it’s
possibilities, evolve your customer experience, and invent unique solutions that drive
only as good as what the user puts in—
business growth. But once you’re ready to bring your proof of concept to life, you need
means you must protect against training
to first address, and prepare for, the risks posed by generative AI.
the model on bad data and prompts.

7
Mitigating Risks Posed By Generative AI
Implementing AI at scale is not like flipping a switch. It’s complex communicating the dos and don’ts of AI across security, privacy, and
and requires an ecosystem approach and governance. However, compliance. For example, your employees need to understand that
implementation—and avoiding the accompanying risks in doing some AI interfaces, such as ChatGPT, are not private. Data processed
so—is entirely feasible with the right framework in place. through its website is reviewed and used for research purposes,
which could break confidentiality agreements with customers.
Implementing an AI Governance Framework
AI governance is the foundation of this business transformation, as
A strong framework that helps you successfully navigate this it ensures that businesses deploy AI technologies responsibly and
unfamiliar territory is critical to sussing out the opportunities and ethically. It involves developing an AI governance framework with
risks to your business and your customers. And everything begins principles, guidelines, technology controls, and regulations that
with understanding the rules of the game—legal, compliance, address issues such as fairness, accountability, transparency, and
privacy, security, accessibility, sustainability—all led by governance. privacy. By implementing AI governance, you can create a more
trustworthy and inclusive CX environment, fostering customer
With all the conflicting news reports and media articles about loyalty and enhancing your brand reputation.
AI technology, it’s important for organizations to start by

AI Governance Framework
Accelerating business outcomes through CX + AI solutions

• Identify problems • Map workflows • Announce solutions

• Ideate solutions • Access data • Train people

• Prioritize use cases • Architect solutions • Reinforce policies


DESIGN. BUILD. RUN.
• Document requirements • Test functions • Track KPIs

• Outline plans • Define metrics • Resolve issues

8
To ensure effective AI governance, multiple internal and external
stakeholders must collaborate and contribute, as each play a unique
role in designing, building, and running AI transformation:

Leadership: Sets the tone and direction for AI adoption,


ensuring that ethical considerations are at the forefront of AI
decision-making and governance.

Strategy: Develops a roadmap for AI implementation and


outlines how AI will contribute to CX goals and objectives.

Marketing: Identifies opportunities to use AI to enhance the


customer experience and develops strategies to
communicate the benefits of AI to customers.

Sales: Incorporates AI into the sales process and ensures that


AI-enabled solutions meet customer needs and expectations.

Finance: Determines the ROI of AI initiatives and ensures that Government: Establishes AI guidelines, regulations,
budget is allocated appropriately. oversight, ethical considerations, data privacy, and security
standards to foster customer trust and level the playing field
Engineering: Develops and implements AI solutions that for businesses.
align with ethical and governance guidelines.
Industry: Prioritizes ethical AI principles, invests in research
Operations: Manages the day-to-day operations of AI and development, and actively participates in industry
systems, monitors their performance, and ensures forums to share knowledge and collaborate on AI
compliance with regulations and guidelines. governance initiatives.

Support: Provides customer support for AI-enabled solutions Training: Promotes the responsible and ethical use of AI and
and ensures that customer feedback is incorporated into AI shapes the AI talent pool.
system improvements.

9
AI Governance Best Practices

To build a robust AI governance framework, organizations should consider the following


best practices:

Establish principles: An effective AI governance framework should encompass


1
key components such as ethics, accountability, transparency, and privacy. Develop
guidelines and policies that address these aspects and ensure that your AI systems
align with your core values and industry standards.

Involve stakeholders: Engage various stakeholders, including leadership, employees,


2
customers, partners, information security experts, and regulators, in the development
and implementation of the AI governance framework. By involving diverse
perspectives, you can create a more comprehensive and inclusive framework that
addresses a wide range of concerns.

Implement safeguards: Put mechanisms in place to ensure adherence to your AI


3
governance framework. This includes establishing a reporting structure up to senior
leadership, training employees on AI ethics, communicating results, conducting
regular audits, and establishing clear lines of responsibility for AI system management.

Evaluate progress: AI systems evolve over time, making it vital to monitor their
4
performance and impact continuously. By conducting regular assessments, you
can identify potential biases, privacy concerns, or other governance issues, and take
corrective action when necessary.

Foster collaboration: Actively participate in industry forums and collaborate with


5
other organizations, academia, and government agencies to share best practices,
learn from each other, and contribute to the development of AI governance standards.
Establishing strong partnerships will help you design, build, and run your AI initiatives
in the most efficient and cost-effective way.

10
Generate Real Value with
Generative AI Solutions
Everybody’s talking about generative AI, but few companies are
actually doing anything about it. Now is the time to start delivering
generative AI value.

However, it’s crucial for brands to adopt an approach that puts


humans at the center, ensuring that generative AI serves its ultimate
purpose: improving people’s lives. When used to solve actual
problems, generative AI can become more than just a technology,
multiplying outcomes for people and businesses.

Because of generative AI’s transformative potential, you’ll have


to think strategically and start adapting today. To stay ahead of
the competition and open new avenues of growth, you’ll need
to fully understand generative AI’s fundamental technologies,
best practices, and limitations. You’ll also need to know how to
identify appropriate business use cases and mitigate risks posed by
generative AI. This might sound overwhelming, but with a partner
that can design, build, and run a successful generative AI solution,
you’ll be able to make the most of your own proprietary data and
start reaping the benefits generative AI has to offer your business.

11
ABOUT CONCENTRIX + WEBHELP
Concentrix + Webhelp is the tech-powered customer experience
company, creating game-changing journeys that help brands
grow, across the world and into the future. Whether you need a
specific solution or the whole end-to-end journey, we’ve got it
covered. We’ll help you define the roadmap to achieve your CX
vision and evolve it for the long-haul.

Contact us today to see how we can design, build, and run


game-changing customer journeys.

+1 800-747-0583 | www.concentrix.com

© 2023 Concentrix Corporation. All rights reserved.

You might also like