Generative artificial intelligence is expected to free up time for more creative tasks, according to a study by the McKinsey Global Institute published in June 2023. In the coming years, companies in the retail sector could benefit from significant productivity gains, ranging from 1.2 to 2% of additional annual revenue. Although its use carries risks, economic actors can take preventive measures.
Contribution of AI
Many companies have already adopted artificial intelligence solutions, but what will generative artificial intelligence bring additionally? It represents a new advancement by offering the general public the ability to use technology to write text, compose music, and create digital art. Its success was instantaneous, as evidenced by the interest generated by ChatGPT since its release at the end of 2022. Companies, increasing their announcements of tests in recent months, are actively participating in this massive enthusiasm. According to research, generative AI could lead to productivity gains of up to $2.6 trillion to $4.4 trillion annually. With generative AI, previous estimates regarding AI had to be advanced by a decade!
A new organization of companies and tasks
Many tasks will be automated by generative AI. What will be the consequences for the organization of companies and the nature of work? Generative AI accelerates the potential for automation in knowledge-based jobs: it can create drafts of advertisements, slogans, and product descriptions, create personalized messages tailored to customer preferences, or instantly translate mailing campaigns into multiple languages, among other things. It also ensures brand message consistency. To succeed in its integration, companies will need to make efforts to reorganize and train their employees, including for skilled jobs. The good news is that generative AI should free up time for employees, assisted by intelligent software, to focus on more creative and higher value-added tasks. They will learn to work with an AI co-pilot, similar to their experience with a computer, which should overall improve their skills.
Preventing cyber attacks
The use of generative AI is not without risks: cyber attacks, manipulations, protection of intellectual property, and personal data. How can companies guard against these risks? These risks should not be underestimated by companies. According to studies, only 21% of executives who have adopted AI believe that their organizations have established policies on the use of generative AI technologies by employees in their work. Only 32% report having implemented policies to mitigate inaccuracies (the most prevalent risk), and 38% have established cybersecurity policies (51% for AI overall). To mitigate these risks, companies must clarify their decisions and ensure the transparency of their AI systems. AI developers and suppliers must also be held accountable for the consequences of their systems. Finally, all stakeholders must be made aware of the implications of AI and involved in discussions, ensuring that AI is used in the public interest and reflects the values and concerns of society.
