Generative AI is taking centre stage, with business leaders, employee experience advocates, and customer experience enthusiasts eagerly exploring its potential. A recent study by Metrigy involving 641 companies sheds light on this growing trend.
Understanding Generative AI
Surprisingly, less than 15% of the study’s participants admitted to having minimal understanding of generative AI. Generative AI is a category of techniques and models that respond to natural language prompts to produce text, images, audio, code, or other media based on their training data. Its applications are vast, from writing emails and creating marketing campaigns to summarising customer interactions and scheduling meetings.
Around 20.4% considered themselves novices in generative AI, while a significant 65% claimed to possess expert-level knowledge, indicating a widespread commitment to learning about this technology.
Trust in Generative AI
Despite concerns like data leakage, trust in generative AI is on the rise. A majority of participants (55.4%) believed it could be trusted on a limited basis, while 20.4% felt it was entirely trustworthy for any business application. Participants identified limiting data access for generative AI (55.9%) and human oversight (50.9%) as key ways to enhance trust in its use.
Technology providers are actively addressing trust issues in their product development. Microsoft, for example, introduced Bing Chat Enterprise, a generative AI tool for web searches that prioritises data protection. It answers queries within the chat interface with verifiable citations and ensures data privacy through encryption, assuaging concerns about sensitive information leakage.
Microsoft 365 Copilot and Business Chat, on the other hand, leverage a company’s internal data, inheriting existing data privacy and security measures. Business leaders must review and adapt these safeguards as generative AI becomes more prevalent.
Generative AI’s potential to streamline tedious tasks excites business leaders. The study revealed that 40% of participants saw its greatest value in enhancing employee productivity. By automating content creation, whether it’s drafting emails, summarising calls, or creating presentations, generative AI promises to free up valuable time and resources.
The Metrigy study highlights the growing interest and understanding of generative AI among business leaders. With trust-building measures and a clear focus on productivity, this technology is poised to revolutionise the way businesses operate. Learn more here https://workspace-connect.com/employee-experience/business-leaders-getting-smart-generative-ai
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