by
Patrick Glynn
Generative AI has been the backbone of conversations around the office, in board rooms, and across the technology landscape for a couple of years now. After multiple tools burst onto the scene, employees and businesses have been assessing how Gen AI can make their lives and work easier—or replace the mundane aspects of their responsibilities altogether.
As of 2023, 55% of organizations reported they used AI within their business. That was up from 50% in 2022, and up from 20% in 2020. Additionally, when Insight Global asked hiring managers how they were using AI in the hiring process, a whopping 99% of managers said they used AI in the hiring process in some form or fashion.
Plainly put, Gen AI is revolutionizing how we work, but its successful integration across the business ecosystem requires careful consideration. Let’s look at some key stats around Gen AI as your organization plans and builds use cases.
Gen AI Adoption is Common Across All Parts of the Business
AI will impact the entire business ecosystem as more companies adopts its capabilities. Currently, most companies are using it for:
- Contact center automation
- Personalization
- Customer acquisition
- AI-based product enhancements
- Creation of new AI-based products
And as companies adopt, a pillar debate among decision is whether to buy an existing product or build and customize their own. Here are the most common current methods of using Gen AI:
- Embedding Gen AI into existing apps
- Customizing models with prompt engineering
- Training and fine-tuning existing models
- Using standalone apps, like ChatGPT or Google’s Gemini
Benefits of AI Adoption
Gen AI adoption is inevitable, largely due to its many benefits across the business landscape. When organizations were asked about the primary benefit of Gen AI on their business, the top response was helping with efficiency and productivity. Increasing revenue was actually last was the primary benefit companies saw from Gen AI. Organizations understand that where Gen AI will be most effective is helping employees eventually positively impact revenue.
Other benefits companies reported include:
- Cost reduction
- Increased innovation
- Improved products and services
- Better customer relationships
- Faster and easier software development
Industries Getting the Most Out of Gen AI
Naturally, industries adopt new technology quicker than others. That remains true with Gen AI. The early adopters of Gen AI include:
- Banking and finance: Helping synthesize market information and analyze risk
- Telecom: Network optimization and improved customer service with chatbots and more personalized support
- Insurance: Processing claims quicker, market analyses, and better customer service
- Technology: More efficient software development and faster code reviews
- Transportation: Building more efficient schedules and providing better customer service
Barriers to Gen AI Adoption
Gen AI’s capabilities are massive and organization changing. That means organizations can’t just flip a switch and adopt the new tech. Currently, just 9% are considered “AI mature,” meaning they have all the structures in place to adopt and fully utilize Gen AI. Some of the most common barriers to full adoption include:
- Trouble estimating and demonstrating its value
- Talent shortages to build, manage, and upkeep the tech
- General technical difficulties across the organization in using Gen AI
- Lack of proper data infrastructure and management
- Lack of business alignment
- Lack of trust in AI
“The excitement around AI is boundless, and its expectations are limitless,” says Gus Huber, Evergreen’s Director of CX Solutions. “But first, an organization has to be ready to harness its power.”
Connect with Evergreen to see where your gaps are and how we can help!
Sources: AI in the Enterprise (Gartner 2023 Survey), State of Generative AI in the Enterprise (Deloitte 2024 Report), McKinsey & Company Survey 2023, Stanford Institute for Human-Centered Artificial Intelligence (2023 AI Index).
