Artificial Intelligence (AI), and more specifically Generative AI, or (GenAI), has become increasingly popular over the past few years.
With GenAI, businesses can perform tasks such as creating content from text or solving problems that require human intelligence.
As Generative AI models play a pivotal role in remaining competitive, more governmental organizations, startups, researchers, entrepreneurs and leading companies are adopting them.
Let's explore some of the most common Generative AI applications across industries!
What Can GenAI Do For Businesses?
The main reason why Generative AI is vital is that it can help businesses be more productive by increasing customer satisfaction and operational efficiency.
GenAI solutions can also enhance customer interactions by providing real-time answers to customer inquiries, saving costs and boosting efficiency.
A recent article by McKinsey mentions that GenAI could also boost imagination and creativity, which would give companies a competitive edge.
The same article also mentions that AI-generated content could allow businesses to explore more ideas for Product Design to ideate and launch products faster and smarter.
Top 9 Generative AI Use Cases
1. GenAI for Content Marketing
GenAI can analyze vast amounts of data, providing businesses with meaningful insights about their target audience.
Likewise, GenAI tools can help companies understand customer behavior, as well as market trends and market conditions, to target individual users’ requirements dynamically.
Specific use cases include hyper-personalized emails, product recommendations, and online advertisements.
One great example of GenAI for personalization is Adobe Sensei, which can help gather actionable data insights and AI-powered analytics, helping businesses boost customer engagement and triple conversion rates.
2. GenAI for Content Creation
Image and video generation tools, like Midjourney and Sora, can help create original content, from realistic images to videos based on written text.
Other AI-powered tools like ChatGPT, Bing Copilot, and Gemini can be useful for writing content such as product descriptions, social media posts, meta descriptions, textual descriptions and blog posts.
3. GenAI for Customer Service
As Generative AI-powered chatbots can understand contexts, answer with human-like texts, and provide support 24/7, they’re also quite helpful in customer service.
Additionally, some GenAI chatbots also have sentiment analysis features, which help them anticipate users' needs to provide better customer experiences.
BotCore’s bots are great examples of AI-powered chatbots with sentiment analysis capabilities.
Zendesk, for example, has Generative AI agents, AI-powered insights and reporting, and ticket response suggestions, making it a powerful tool for customer service.
4. GenAI for Code Generation
Tools like ChatGPT and GitHub Copilot can also write code in a wide range of programming languages, libraries, and frameworks like JavaScript, Python, Java, Ruby On Rails, and Node.js.
Additionally, GenAI can help in Software Development by providing code suggestions, auto-completing code, generating boilerplate code and running unit tests.
While these tools are handy to improve developer efficiency in Software Development, they can’t replace the valuable developers’ work.
5. GenAI for Repetitive Tasks Automation
Generative AI tools can excel at administrative tasks like data entry by extracting real-world data and pasting it where you need it and with the format you want.
Google Cloud Document AI, for example, uses Machine Learning and Optical Character Recognition (OCR) to extract data from documents like PDF files and images.
Businesses can also use advanced tools like Adobe Express to remove, replace or insert objects into an image and Zapier to create automated workflows with a single prompt.
6. GenAI for Report Generation
Generative models can analyze vast amounts of data to create charts, graphics and dashboards.
These models can also be used to create data-based stories, presentations, and reports, which are particularly useful in fields like Fintech and Business Intelligence.
Tools for report generation include Amazon Q in Quicksight and Tableau Pulse, which ease sharing data insights with everyone on the team and help leaders make informed decisions quickly.
7. GenAI for Supply Chain Optimization
GenAI tools can help businesses optimize supply chains by analyzing big datasets for demand forecasting, inventory management and logistics planning.
Also, they can help businesses predict potential disruptions, like equipment failures, allowing them to use predictive models for potential risks and resource allocation.
For example, Oracle can help businesses identify optimal suppliers based on product details, reducing business operations’ costs.
Likewise, Kinaxis and Dematic can be used for scenario modeling, planning and operations management.
8. GenAI for Personalized Learning
Through GenAI businesses can create personalized learning experiences, from lessons and quizzes, for their collaborators.
Additionally, another critical application of GenAI tools for business is creating gamified experiences, which could boost collaborators’ engagement rates.
9. GenAI for Audio Generation
Lastly, thanks to GenAI audio generation, businesses can further quickly create catchy tunes and realistic voiceovers for marketing material.
Innovative solutions like Synthisia offer over a hundred different voices in different languages, and it also lets you clone your voice to facilitate recording sessions and create captions faster.
Other tools like Elevenlabs can be particularly useful for creating voiceovers with a high level of emotional intonation by adding context and sound effects.
Conclusion
Generative AI-driven models have brought us innovative solutions with a wide range of use cases and applications for businesses, from automating repetitive tasks to providing customer service with fast responses.
Although we believe that GenAI tools can help us boost our work, we know that human work is invaluable to keep companies competitive.
Feel free to reach out to hear our unique approach as a UX-driven Product Development agency and bring even the most disruptive business ideas to life.
