Infographic Generative AI: Unleashing the Benefits and Use Cases
By Insight Editor / 25 Oct 2023 , Updated on 3 Jul 2024 / Topics: Data and AI Generative AI
Wondering where generative AI fits in your organization? Get a clearer view of benefits and use cases across industries, plus real-life success stories from Insight clients, in this infographic.
Accessibility note: The infographic is transcribed below the graphic.
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Infographic text included for screen readers:
Take advantage of all generative AI has to offer.
With generative AI taking the business world by storm, forward-thinking organizations are looking for ways to tap into this emerging technology. Insight ventured into this ever-evolving space early on, discovering those who tap into the power of generative AI can see gains such as:
Increased operational efficiency:
Streamlined and automated workflows instead of tedious tasks and processes mean employees get more done in less time, potentially sidestepping labor shortages and reallocating resources more effectively.
Improved employee experience:
Freed from routine tasks, employees can dive into more meaningful work, expand their skill sets and leverage tools like AI copilots to optimize everything from software development to crafting compelling sales emails.
Enhanced knowledge dissemination:
Generative AI allows organizations to make internal knowledge available via self-service, allowing employees access to the information they need to be effective immediately.
Mitigation of risks and errors:
With more automated processes, the chance for human error is greatly reduced, and with fine-tuning, AI solutions will only get better at these tasks over time.
Transformative customer experiences:
Faster, higher-quality, more customized experiences are possible with generative AI.
Competitive advantage:
Embracing these benefits, combined with being early adopters, empowers organizations to reinvest savings, explore uncharted business areas and stand out from the crowd.
Across the enterprise: Use cases for every department
Regardless of industry, generative AI solutions have the potential to streamline work across the enterprise. Here are some examples of how your organization can leverage generative AI to optimize different areas of your business and accelerate ROI:
Sales and marketing
- Customer and trend analysis
- Performance forecasting
- Campaign reporting
- Ad and content copy generation
Finance
- Fraud detection
- Risk analysis
- Financial statement production
- Investment strategy support
Operations
- Predictive maintenance
- Quality control
- Supply chain optimization
- Production planning
Security and IT
- Creation and definition of corporate security policies
- Identification of potential vulnerabilities
- Performance monitoring
- Code optimization, testing and bug detection
Legal
- Contract analysis
- Compliance monitoring
- Legal briefs
- Contract generation
HR
- Resume screening
- Employee feedback analysis
- Onboarding material creation
- Performance metric reviews
Early adopters: Real client use cases
Tech Manufacturer Charts the Future With Generative AI Roadmap
Summary:
When a global electronics supplier wanted to leverage AI to obtain accurate and timely financial information from customers and supplier contracts, they turned to Insight. Using Insight's Gen AI Accelerator and OpenAI® resources, the team codeveloped a tailored solution to ingest and analyze financial information from various sources. This improved consistency, response time and accuracy in generating concise document summaries.
Business outcomes:
Sales and marketing teams now have unprecedented access to actionable insights. Employees can automate menial tasks related to contract review and financial analysis, helping them generate contracts with unmatched security, accuracy and speed.
Future business:
By partnering with Insight, the company is positioned at the forefront of AI adoption, unlocking further business value and innovation by expanding their generative AI footprint.
Millions in Revenue: AI Recommendation Engine Propels Tech Manufacturer
Summary:
To simplify sales awareness of replacement recommendations and increase revenue from product attachments, a U.S. manufacturer worked with Insight to create a modern data architecture as the foundation for AI, as well as a Machine Learning (ML) model to make product recommendations based on historical sales data.
Business outcomes:
Once the recommendation engine was up and running, the client experienced significant ROI. After just eight weeks, the system increased pipeline revenue by $15 million — with a projected annual value of $50 million.
Future business:
Based on this success, the model’s capabilities will be extended to recommend other component attachments — with the long-term goal of encompassing the full product portfolio. With a modern data architecture in place as the foundation for future initiatives, the organization continues their data-driven transformation, unlocking new opportunities for growth and competitive advantage.
Transportation Leader Accelerates With LLM-Powered Contract Management
Summary:
A global leader in smart transportation wanted to optimize their redlining process for Master Service Agreements (MSAs). Insight developed a cloud-based solution leveraging cutting-edge generative AI to process MSAs and delivered a strategic roadmap for integrating generative AI into business operations.
Business outcomes:
The organization’s legal team experienced an immediate boost in productivity. Implementation of the solution significantly decreased document analysis time, from weeks to minutes, accelerating client negotiations and turnaround times.
Future business:
With the AI integration roadmap in place, the organization has already identified new use cases that have the potential to deliver millions in cost savings and added efficiency.
Generative AI Brings Rapid Sales Insights to Distillery
Summary:
The fifth largest supplier of distilled spirits in the U.S. wanted to build a secure generative AI chat application for internal use within the company while also connecting internal structured data sources to enable rapid Q&A from distillery sellers. Insight helped the company deploy a secure chat application powered by Azure® OpenAI that includes conversation history, administrative settings and user access controls.
Business outcomes:
The application enables users to ask natural language questions about relevant sales data to derive actionable insights without needing a custom report. Users can now generate their own aggregated sales data on demand to get the latest pulse on brand and store performance.
Future business:
With secure access to generative AI and integration of internal company data, employees can increase productivity and reduce manual touchpoints, enhancing efficiency and freeing up resources for strategic growth initiatives.
Vertical-specific use cases
While generative AI can benefit any business, there are specific use cases that enhance critical aspects of industries. With organizations eager to learn how generative AI can benefit their unique business context, our experts have brainstormed high-impact use cases for some major industries:
Healthcare
Predictive diagnostics
Through the analysis of patient data, potential health issues can be identified sooner.
Treatment optimization
With vast amounts of data, AI can help healthcare providers customize a treatment plan for patients based on their medical history and risk factors.
Automated imaging analysis
AI can be trained to analyze X-rays, MRIs and other screenings for signs of cancer or other ailments.
Regulatory monitoring and automation
Generation of legal and compliance documents is a burden that can be taken from healthcare professionals and streamlined with generative AI solutions.
Generation of legal and compliance documents is a burden that can be taken from healthcare professionals and streamlined with generative AI solutions.
Generation of legal and compliance documents is a burden that can be taken from healthcare professionals and streamlined with generative AI solutions.
Financial services
Risk management and fraud detection
Generative AI can perform predictive analytics and examine transactional patterns to identify risks and anomalies.
Processing for lending
In the underwriting process, AI can enhance efficiency and reduce human error, resulting in less risk for the client.
Asset management
Portfolios can be optimized based on vast financial data and inform trading decisions.
Personalized experiences
From chatbots that can answer specific questions to custom experiences that meet individual customer needs, AI can enhance the banking or investing experience.
Retail
Improved in-store experiences
From real-time stock monitoring to virtual fitting rooms, the brick-and-mortar shopping experience can be augmented to rival digital alternatives.
Loyalty programs
AI can develop personalized loyalty programs for customers based on previous activity and preferences.
Waste reduction
With the analysis of food waste data, AI can optimize stock and product placement to minimize loss.
Chatbots
A more intelligent chatbot can enhance the digital shopping experience without requiring large numbers of customer service staff to take inquiries.
Manufacturing
Simulation and modeling
Test different manufacturing processes with AI to identify the most efficient and cost-effective options.
Supply chain optimization
Analyze large datasets to forecast demand and optimize logistics.
Automated inspection and safety monitoring
With image recognition AI solutions, manufactured products can be assessed for defects, and potential risks to employees can be identified to prevent accidents.
Dynamic pricing
AI can assess a large array of information from material cost to production capacity to determine dynamic pricing as the market fluctuates to maximize ROI.
From getting your data generative AI-ready to ideating on use cases, your organization can get the support you need to tap into today’s most cutting-edge technology.
Connect with one of our experts to start your generative AI journey.
