Generative Artificial Intelligence (Gen AI) has emerged as a transformative force, capturing the attention of enterprises across industries. The recent surge in interest reflects a shift from sporadic AI adoption to a more comprehensive integration of Gen AI. As organizations explore the potential of this technology, a notable trend has emerged – leaders prioritizing productivity. However, it is crucial to recognize that Gen AI's journey to maturity is an ongoing process, and while productivity gains are paramount, there is a need to balance this focus with broader value levers.

To better understand the shifts within the Gen AI realm, HFS Research recently partnered with WNS to conduct a survey involving executive leaders across seven industries. The survey culminated in a report, Democratizing Gen AI: A Reality Check for Business Transformation, which provides valuable insights into how Gen AI is re-shaping the business landscape.

AI and Productivity: Pragmatism as the Catalyst

Many enterprise leaders are in the early stages of Gen AI exploration, with a pre-dominant emphasis on pragmatic adoption. The focus on internal improvements and productivity gains is seen as a strategic move to fortify confidence before expanding offerings to clients. A practical mindset prevails, with the belief that bolstering internal operations lays the foundation for robust and dependable products and services. This sentiment is echoed by an IT director in a global banking and financial company, emphasizing the importance of harnessing Gen AI's potential to enhance internal operations as a crucial step in maturation.

For some, the emphasis on Gen AI productivity is not just a strategic choice but a means of introducing the technology within organizations while mitigating concerns about job security. As one of the survey respondents says, "So far, productivity is a less destructive way of introducing the technology." This approach acts as a bridge, easing the introduction of Gen AI without causing disruptive shifts in the workforce.

Industry-specific Applications

The report sheds light on industry-specific applications, showcasing how Gen AI is making significant strides across diverse sectors. From pharma and healthcare to hi-tech and information services, automotive and industrial, water and utilities, and insurance and banking, Gen AI is being leveraged to optimize processes and enhance operational efficiency. The applications range from lead generation and drug discovery to task automation, data modeling and customer service support.

Keeping Value Levers in Focus

While productivity gains and internal improvements take center stage, it is essential to maintain a long-term perspective. In regulated industries like finance and insurance, the focus on productivity remains a priority, but the report emphasizes the importance of not losing sight of broader value levers. The applications of Gen AI extend beyond efficiency gains to risk assessment, decision-making support, content creation and customer service enhancement.

As organizations journey through the maturation phase of Gen AI, a balanced approach is key. Focusing on productivity and internal improvements is crucial for confidence-building, particularly in regulated sectors. However, maintaining a broader perspective on the value levers of Gen AI ensures that enterprises don't limit their potential by adopting a narrow and short-sighted approach. The transformative power of Gen AI lies not only in its ability to boost productivity but in its capacity to revolutionize how organizations create, innovate and deliver value to clients and customers alike.

Democratizing Gen AI: A Reality Check for Business Transformation

Dive into the comprehensive report by HFS Research, in partnership with WNS, to explore the future with Generative AI.

Access Full Report

Join the conversation