Generative AI for Business: Are You Falling Behind?

As the CEO of Devoteam, I am thrilled to discuss the transformative power of generative AI, a revolution comparable to the arrival of the internet. While AI itself is not new, the widespread adoption of generative AI for business is unlocking unprecedented opportunities for companies to innovate and communicate in more natural and intuitive ways.

Gen AI vs. AI: Bridging the divide for business

AI has been around for decades, with industries like aviation (dynamic pricing) and insurance (actuarial calculations) already leveraging algorithms. But generative AI for business changes the game: it integrates text, language, images, and video, making this technology more accessible and aligned with our natural communication methods. What’s more, it democratises AI by moving it beyond the realm of mathematicians and data scientists. Now, generative AI speaks our language, using human symbolism instead of complex machine codes reserved for experts.

By now, we’ve become accustomed to interacting with AI as if it were a colleague — that’s the promise of generative AI. It’s about democratising technology and unlocking productivity gains for everyone.

Managing new times: Embracing the impact

The challenge today is balancing expectations: not overestimating its short-term effects while recognising its profound medium-term impact. According to Goldman Sachs, generative AI for business could boost the global economy by 7%, contributing $7 trillion to global GDP over the next decade.

Generative AI is not just on the horizon; it’s happening now. Every company is under pressure to find immediate applications while preparing for the deeper transformation that will bring to business models, organisational structures, and workflows.

How can we tell this revolution is real? ChatGPT reached 100 million users in just two months and nearly 200 million by early 2024, while the internet took 15 years to achieve the same milestone.

Devoteam’s vision: Generative AI for business success

• Large-scale deployment of “individual” Generative AI enterprise versions like ChatGPT: These are looking for innovation in daily tasks for all teams. In any case, if you don’t do it, employees will go elsewhere or use unsecured consumer platforms with your confidential data.
• 2nd level add your own data – Designing “in-house” Generative AI platforms, which require new architectures and technical foundations: LLM, SLM, vector databases, to host multiple use cases. 
• 3rd level – you need to govern better to keep it running and then level 2 will be better – Projects to control data within organisations, to prepare these new assets which will be able to take on considerable value.

In summary, generative AI presents enormous potential, but its success relies on execution, governance, and a focus on fostering collaboration across all areas of the company. Now is the time to embrace this technology and start driving business transformation with generative AI.