“AI’s ability to automate repetitive tasks and augment human capabilities will reshape roles and boost performance across the board“
Introduction:
Generative AI is set to revolutionize industries, unleashing an unprecedented wave of productivity. From creating music and digital art to drafting text and computer code, Gen AI tools have captured the world’s imagination, showcasing AI’s ability to communicate, create, and even transform industries.
According to the latest research, generative AI has the potential to add $2.6 to $4.4 trillion annually to the global economy, equivalent to the GDP of some of the world’s largest nations. Much of this value will come from sectors like customer operations, marketing, software engineering, and R&D.
How?
Generative AI automates routine tasks, which in turn boosts performance, and drives creativity at scale. This would increase AI’s overall impact by 15-40%. That is staggering!
It is transforming the workforce with its potential to automate 60-70% of the work activities that employees spend their time on today, particularly those that involve natural language processing. As a result, it is estimated that half of today’s work activities could be automated by 2045, potentially driving labor productivity growth by up to 3.4% annually.
Where can we see this impact?
We can see that 75% of the value comes from four key areas:
- Customer Operations,
- Marketing and Sales,
- Software Engineering,
- Research & Development.
AI’s ability to automate repetitive tasks and augment human capabilities will reshape roles and boost performance across the board—from supporting customer interactions to generating creative content and drafting computer code from natural-language prompts.
What is the Best Approach?
While the promise of generative AI is thrilling, realizing its full potential requires careful planning. Businesses must manage the risks, invest in reskilling their workforce, and rethink core processes to ensure that technology adoption is inclusive and sustainable.
Businesses need to navigate challenges like,
- Managing Risks,
- Rethinking Business Processes, and
- Preparing the workforce for new opportunities.
Bottom Line
With the right investments, Generative AI could drive economic growth, increase labor productivity, and contribute to a more sustainable and inclusive world.
The future of generative AI is just beginning—
Are you ready for the transformation?
