Unlocking Potential for Your Business with Generative AI

With tools like ChatGPT, Midjourney, and Google AI, it comes as no surprise that Generative AI has become such an influential tool in recent years. Generative AI has truly revolutionized business processes by seamlessly integrating in work functions, enhancing customer experiences, and streamlining internal workflows. In this newsletter, we will explore how Generative AI can be adapted to business processes and benefit both customers and IT teams from its integration. 

Understanding Generative AI

Generative AI is revolutionizing how companies approach tasks, particularly in their interactions with software. In its simplest form, the Harvard Business Review defines Generative AI as a tool that "can 'generate' text, speech, images, music, video, and especially code." What sets Gen AI apart is its ability to interact with customers, personalizing the tool to cater to the user's needs and ultimately creating a more user-friendly software.

Generative AI’s goals are ultimately: 

1. Generate content and Ideas 

2. Improve Efficiency 

3. Personalize Experiences 

Generative AI’s Impact

Now, how can this tool be used to benefit business processes? What impact does it make in today’s industry? Let’s look at an example. 

One technology that successfully integrates Generative AI is Azure Open AI. It offers enterprise-level access to Gen AI models such as GPT-3, Codex, and Embeddings. Among the many capabilities, Azure Open AI helps businesses with content generation, summarization, semantic search, and natural language-to-code translation.  

These capabilities, alongside their integration into work processes, also provide us with several business benefits. It expands productivity, accelerates research and development through generative design, and emerges new business models for how companies should operate alongside Generative AI. 

The New Wave of AI

Generative AI hasn’t reached the peak of its capabilities. There will soon no longer be a need for drop-down arrows with only limited choices. Soon consumers will be able to input what they need whether that be a list of the most successful leads or see the latest trends and patterns.

A good example of how a consumer can use Generative AI is with data management and analysis. Generative AI allows users to enhance their data analytics capabilities by having a Gen AI model that is trained on an existing dataset. So what can a user do?  Users can specify parameters such as data size and distribution characteristics, allowing the model to then generate synthetic data that mimics real-world data. 

By continuing to use these new technologies, companies can streamline processes that transform documents into actionable data, allowing teams to shift their focus from compiling information to reviewing and acting based on the data they see. Generative’s AI capabilities ultimately keep evolving, both on-premise and in the cloud. 

At Derevo, we focus on providing clients with a data-informed approach to technology, especially regarding Generative AI. We work with some of the leading tools and technologies including Azure Open AI, Microsoft Fabric, Databricks, and more. Schedule a free consultation with us and we’ll help you find the best way to apply Gen AI to your business to keep you ahead of the game.