surrounding generative artificial intelligence . After reaching the “peak of inflated expectations” in August 2023, many companies have started to encounter challenges when it comes to extracting real, meaningful value from the technology. Now is the time to address those concerns head-on or face a long journey of losing and slowly rebuilding trust in tools that leverage GenAI.
Perhaps not surprisingly, given all of the attention surrounding the power of GenAI to transform knowledge work, the vast majority of professionals are excited about its prospects. All told, 91% of respondents have launched GenAI solutions of some type over the past year. Specific business functions getting the most attention are product development , customer care/experience , human resources and corporate strategy .
While everyone seems to understand that concept, very few businesses have managed to do the data governance and data management work necessary to enable the free flow of data across business functions and software platforms that make it possible for GenAI to synthesize large swaths of information and support companywide initiatives.
Take, for example, customer service copilot tools, which have been one of the most common GenAI use cases that have been showing promise in the insurance and financial services sectors.