Even though generative AI is a relatively new technology, it’s now difficult to imagine a world without it, given the impact it’s making, and the business value it can create. Nowadays, technology has become a trend, with smart devices that can easily navigate everything you need.
According to a research report IDC released in November, based on a survey of over 2,100 business leaders and decision makers with responsibility for AI transformation, 71% of companies already using AI are seeing returns on their AI investments within 14 months, averaging $3.50 for every $1 spent.
So it’s no surprise that companies continue to heavily invest in it since the release of Dall-E 2 and ChatGPT in late 2022, where they expect to see the greatest value in increased productivity, with some estimates showing improvements of 5% or more over the next 12 months, and headcounts to reduce by at least 5% as well.
EY is one example of a company widely deploying gen AI. Internally, it uses conversational AI for all its 400,000 employees across a wide variety of tasks, and externally, it uses AI to help its client companies.
“We’re seeing a 15 to 20% uplift of productivity across the board,” says Matt Barrington, EY’s Americas emerging technologies leader.
