Advantages of Generative AI for Enterprises

Generative artificial intelligence began to be used for both entertainment and professional purposes after OpenAI's ChatGPT release. Generative artificial intelligence can help individuals with daily tasks and reduce employee workload. Developing generative AI technology offers various advantages not only for individuals but also for companies, enterprises, and businesses.

Although the most successful generative AI models today were developed to generate text, images, and code, research, and fine-tuning in the field of AI have created effective uses for enterprises and teams as well.

In this article, we will explore what Generative AI is and the advantages it offers for enterprises.

If you're ready, let's start!

TL; DR

• Generative AI can help individuals and enterprises with daily tasks and reduce employee workload while making them more efficient.
• Generative AI can help enterprises with tasks like sales, social media management, and onboarding.
• Key advantages of generative AI for enterprises include time efficiency, cost-effectiveness, enhanced creativity, and automation.
• Klarna's AI implementation is expected to drive $40 million USD in profit improvement for 2024. (Read here.)
• TextCortex is a secure AI assistant with a track record of bringing up to 28x ROI and 24h saved per employee on average. (See case study here.)

What is Generative AI?

Generative AI is a program that uses technologies such as natural language processing, deep learning, machine learning and neural networks. Generative AI models are trained with large amounts of data to generate output and understand users' input.

A Generative AI model produces higher quality outputs with whatever type of data with which it is trained. For example, if an AI tool is trained with data containing written content such as emails, blog posts, and product descriptions, it will produce that type of written content more successfully. To generate output, each Generative AI model analyses its trained data with its parameters and generates the output with the probability closest to the user's intent.

What is AI for Enterprise?

Since each Generative AI model is trained to perform different tasks, not every AI model is designed for enterprises. The concept of AI for enterprise represents AI tools with features designed to meet the needs of a business.

For example, AI tools with knowledge-oriented features such as TextCortex allow you to integrate your enterprise data and generate output using that data.

You can use this feature to serve as an AI-powered tutor for new people working in your enterprise and get them used to your work ethic and tasks faster, and you can boost the onboarding process. In short, AI designed for enterprises are tools that offer features not only for individual tasks but also for team tasks.

Advantages of Generative AI for Enterprises

Generative AI for Enterprises offers lots of advantages that you should take to boost productivity and maximize the profit of your organization. However, if you don't have a clear image in your mind when it comes to the advantages of Generative AI and you don't know how to integrate it into your enterprise, we've got you covered. Let's take a closer look at the advantages of generative AI for enterprises!

Automation

One of the biggest functions of Generative AI for enterprise tools is that it greatly reduces your workload by automating repetitive and routine tasks. For example, instead of manually writing responses to hundreds of emails & tickets every day, you can automate this task using generative AI tools.

See how Klarna achieved great success implementing AI to automate their customer support operations:

• The AI assistant has had 2.3 million conversations, two-thirds of Klarna’s customer service chats
• It is doing the equivalent work of 700 full-time agents
• It is on par with human agents in regard to customer satisfaction score
• It is more accurate in errand resolution, leading to a 25% drop in repeat inquiries
• Customers now resolve their errands in less than 2 mins compared to 11 mins previously
• It’s available in 23 markets, 24/7 and communicates in more than 35 languages
• It’s estimated to drive a $40 million USD in profit improvement to Klarna in 2024

Collaborative Knowledge Management

Collaborative knowledge management is enabled by a generative AI system that can provide actionable insights out of your data to increase the productivity of your employees and help them manage the operational tasks more effectively.

See the results from one of our case studies:

• TextCortex was implemented for Kemény Boehme Consultants as a solution to tackle these challenges and today employees report increased efficiency and productivity (saving 24 hours/month on average).
• AICX, an ecosystem partner of TextCortex, was integral to the onboarding and helped achieve a 70% activation rate of the team within the first weeks.
• Employee confidence in using and working with AI increased by 60%.‍
• The implementation results in a 28x return on investment (ROI).

Enhancing Creativity

Generative AI tools are tailored for individuals seeking to enhance the variety of written content and generate fresh ones. Equipped with training encompassing numerous languages, these tools can offer novel insights on any subject matter. Leveraging these concepts allows for the creation of captivating and distinct content for a more engaging output.

Another area where Generative AI enhances creativity is graphic design and image generation. Since Generative AI is trained with the data of thousands of images, it can combine images of different artistic styles and genres on any topic to create a new and unique one. If you want to design a new and creative visual in any image-based task, from product design to logo design, you can utilize AI.

Time Efficiency

The first advantage that Generative AI offers to both individuals and enterprises is its unmatched output generation speed. The content you produce with Generative AI is, on average, 12 times faster than the content you produce manually. In other words, by integrating Generative AI into your enterprise, you can complete your workload at 12x speed and boost your productivity.

For example, while writing an email manually takes half an hour to an hour, creating an email with generative AI tools takes less than a minute. Moreover, the only workload left for you is to read the email from top to bottom and check if there are any incorrect sentences.

Cost Effective Solution

Generative AI tools can complete any task at 12x speed and increase your productivity, and they offer all these features at a wallet-friendly cost. Although the pricing policy of each Generative AI tool is different, generative AI tools generally offer all features at a cost-effective price. In other words, you can access enterprise assistants who are available 24/7 and can complete tasks quickly and with high quality at affordable prices. This way, you can leave your repetitive tasks to AI tools and direct your remaining budget to more critical aspects of your enterprise!

TextCortex – Your Company Co-Pilot

If you are looking for an AI assistant that will increase your enterprise efficiency and boost the productivity of your employees, TextCortex is designed for you. In addition to TextCortex's advanced generative AI features, it offers the knowledge bases feature with which you can integrate your enterprise. Moreover, TextCortex has certificates such as GDPR, SOC 2 Type I and Type II to keep all your enterprise data safe and secure. Thus, you can be sure that your enterprise data is always safe and secure.

Another feature that TextCortex offers for enterprises is "Knowledge Bases". With this feature, you can integrate all your enterprise data into TextCortex and automate your repetitive tasks or provide collaborative knowledge management. Thanks to this feature, ZenoChat allows all employees, including new employees, to quickly find and retrieve the information they need from a large database.