“Uphoff on Industry” explores the innovations, upheavals, and breakthroughs reshaping the world’s biggest markets. In this episode, Tony and Bob talk about the transformative potential of generative artificial intelligence (GenAI) in the business world. The pair discuss how businesses must reimagine processes with the rapid development of generative AI which raises customer and employee expectations.
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Episode 47 | The Impact of the GenAI Revolution
The Big Themes:
- The fast-paced nature of the GenAI Revolution: Because generative AI is being developed at a rapid pace, companies are able to accelerate their progress and pace of innovation. GenAI brings greater time to value, leading to quick adoption and impact.
- Reimagine business processes: Organizations must consider how they can harness generative AI to maintain a competitive edge. By optimizing this technology, business leaders can reimagine business processes to enable greater productivity and better outcomes.
- New expectations from customers and vendors: The capabilities coming from the GenAI Revolution are raising the expectations and experiences of customers as well as employees and vendors. As generative AI is developed to be more user-friendly, it can enhance recruitment and retention as well as open new possibilities for leveraging the technology.
The Big Quote: “I am not a fan of fear, uncertainty, and doubt causing people anxiety of ‘Oh you have to act now, or you’re going to go out of business’ or any of that kind of nonsense. However, this is one of those moments — this is a stop, drop, and roll moment — where I think people have to say, ‘This is different. I need to understand how I can harness the power of what’s happening these days.'”