57% of respondents from the KPMG 2023 global tech report believe generative AI will help them achieve short-term business ambitions over the next one to three years. The finding suggests an opportunity to allay fears, explore possibilities and pursue safe implementation.
The world of business is abuzz with the potential of Generative AI (gen AI). While artificial intelligence and machine learning have proven successful in solving specific problems, the user interface and new content creation capabilities of gen AI make it relevant to a wider range of organisations and business functions. Despite AI not being a new concept, it’s moving quickly. As a result, CxOs must think fast when it comes to understanding how to leverage this technology.
Embedding gen AI capabilities into functional transformation can drastically improve speed and efficiency by eliminating redundant or manual activities. Furthermore, this technology has the potential to drive significant profitability, improve compliance and enhance the overall customer experience. But, as with all AI technology, the effectiveness of gen AI is entirely dependent on the quality of the underlying data and well-engineered prompts. For gen AI to provide maximum value to organisations, it must be executed and integrated in the right way within key operational functions.
KPMG’s experienced professionals can help guide organisations through enabling responsible gen AI and implementing other leading practices that drive change and transformation across the organisation.
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