How to Unlock the Power of GenAI Insights for Operational Efficiency
In the dynamic, modern business landscape, leveraging cutting-edge technologies is essential for driving operational efficiency – and it should be no surprise by now that Generative AI is a forerunner in the tech stack that many companies rely on nowadays.
We’re about to explore how GenAI is being used within workplaces, identifying some key factors for businesses when it comes to overseeing applications and making smart use of GenAI insights. We’ll also explain exactly why GenAI visibility is a non-negotiable factor, and we’ll outline the ways in which our own GenAI platform facilitates this requirement.
How is GenAI being used within businesses?
The capabilities of GenAI make it a valuable asset for organizations looking to streamline processes, enhance decision-making, and drive innovation. In our State of Generative AI Survey, carried out in 2023, 84% of respondents told us that they’re already using the technology; here are some of the ways that they’re putting it to work.
Automating repetitive tasks
GenAI-powered automation tools are being used to streamline repetitive tasks and workflows, freeing up more time for employees to focus on higher-value activities. From data entry and document processing to customer service inquiries and IT support, GenAI automation drives efficiency and productivity across departments.
Predictive analytics
GenAI algorithms are employed for predictive analytics, enabling businesses to forecast trends, identify patterns, and anticipate future outcomes. By analyzing both historical data and real-time inputs, GenAI can provide insights into market dynamics, customer behavior, and operational performance, empowering businesses to make proactive decisions and stay ahead of the competition.
Personalized recommendations
In industries such as e-commerce, media, and entertainment, GenAI is used to deliver personalized recommendations and experiences to customers. By analyzing user preferences, browsing history, and purchase behavior, GenAI algorithms can recommend products, content, and services tailored to individual tastes, driving engagement and customer satisfaction.
Natural language processing (NLP)
GenAI-powered NLP technology is revolutionizing communication and interaction within businesses. Virtual assistants, chatbots, and voice recognition systems leverage NLP to understand and respond to human language, facilitating seamless communication between employees, customers, and systems.
Content generation
GenAI can generate content, such as articles, reports, and marketing materials, based on predefined parameters and inputs. This capability is particularly useful for content-heavy industries, enabling businesses to produce high-quality content at scale and meet the demands of content marketing and communication strategies.
Risk management and fraud detection
In finance, insurance, and cybersecurity sectors, GenAI is used for risk management and fraud detection. Machine learning algorithms analyze data patterns and anomalies to identify potential risks, fraudulent activities, or security breaches, enabling businesses to mitigate threats and protect assets. From our survey, risk was cited as the most impactful factor in businesses that are wary of investing in GenAI – but when used correctly and with adequate visibility, it can actually serve to minimize and manage potential threats.
Product design and innovation
GenAI is employed in product design and innovation processes to generate ideas and prototypes. By leveraging generative design algorithms, businesses can explore a wide range of design possibilities, optimize product performance, and accelerate the innovation cycle.
Workflow optimization
GenAI can be used to optimize internal workflows and processes, improving overall resource allocation. By analyzing workflow data and identifying inefficiencies, its algorithms can suggest process improvements and streamline programmed tasks, leading to cost savings and productivity gains.
Why is it important for an enterprise to have visibility into GenAI usage?
In order to maximize the potential that GenAI has in all of the applications we’ve outlined, enterprises need to ensure full, transparent usage visibility. Using GenAI without proper visibility provisions leads to a whole host of potential risks, and 85% of our survey respondents expressed a particular concern towards data security issues that GenAI could pose. Overall, a lack of visibility plays a role in inciting trust issues with GenAI technology, meaning many enterprises are missing out the benefits and competitive advantages that it can bring.
Having access to comprehensive visibility insights into GenAI usage allows enterprises to set clear standards, ensure safety and mitigate risk. We’ve listed some practical examples below.
Identifying usage patterns
By understanding how employees are leveraging GenAI tools and platforms, organizations can identify usage patterns and trends.
This insight enables them to optimize resources, streamline workflows, and eliminate bottlenecks, ultimately enhancing operational procedures. Conversely, these GenAI insights into usage patterns can also identify instances where the technology isn’t playing a fundamental role in workflows – allowing enterprises to repurpose the resource in an area of the business that would benefit from it.
Monitoring performance
Visibility into GenAI usage allows organizations to monitor employee performance and productivity. By tracking metrics such as time spent on the platform, completion rates, and task outcomes, businesses can identify areas for improvement, provide GenAI education provisions, and ensure that employees are utilizing GenAI tools effectively.
Ensuring compliance
Visibility into GenAI applications helps organizations ensure compliance with regulatory requirements and internal policies, informing their GenAI governance strategy. By monitoring data inputs, outputs, and user activity, businesses can mitigate the risk of non-compliance, data breaches, and potential legal issues, thereby safeguarding their reputation and financial standing.
How does having these insights provide an organization with growth opportunities?
Having insights into GenAI usage not only improves operational efficiency; it can also shed light on growth opportunities for the organization.
Leveraging GenAI for data-driven decision-making
By harnessing the insights gained from GenAI usage, organizations can make informed, data-driven decisions. Whether it’s identifying market trends, forecasting demand, or optimizing supply chain operations, GenAI insights empower businesses to capitalize on opportunities and drive strategic growth initiatives.
Enhancing customer experiences through personalized insights
With GenAI insights, organizations can deliver more personalized and tailored experiences to their customers. By analyzing customer data and behavior, businesses can anticipate needs, provide relevant recommendations, and deliver targeted marketing campaigns, thereby enhancing customer satisfaction and loyalty.
Optimizing internal processes for efficiency and effectiveness
GenAI insights enable organizations to optimize internal processes for improved efficiency and effectiveness. By identifying time consuming processes, Chief AI officers (or CISO / CIOs) can pinpoint opportunities to automate repetitive tasks, and streamline workflows, helping the business to reduce costs, improve productivity, and allocate resources more effectively; driving sustainable growth and competitiveness.
Interested in how you can utilize GenAI insights to capitalize on growth opportunities for your organization?
Portal26 will fine tune your technology investment by allowing you to tap into clear-cut GenAI insights
Portal26 has created a dedicated platform, designed to enable enterprises to harness the power of GenAI insights, complete with built-in visibility metrics. Our software has been tailored to ensure you’re seeing the bigger picture when it comes to your GenAI application.
Real-time usage visibility
We give you real-time, accurate insights into exactly when your employees are using your GenAI platform. With this information at your fingertips, you can monitor usage patterns, identify peak usage times, and track user activity across your organization in real-time.
By having visibility into when employees are accessing the GenAI platform, you can better understand how the technology is being utilized within your organization. Whether it’s during peak business hours or outside of traditional work hours, knowing when employees are engaging with GenAI allows you to optimize resources, schedule training sessions, and ensure that GenAI tools are being used effectively to drive business outcomes.
Information on internal GenAI input
In addition to real-time usage visibility, Portal26’s platform also gives enterprises detailed information on internal GenAI inputs. Our platform gives you insights into what data employees are feeding into the GenAI system, including the types of data, sources, and frequency of input. This level of granularity allows you to understand the inputs that are driving GenAI outputs, empowering you to assess data quality, identify potential biases, and make informed decisions about data governance and management.
By knowing the exact details and content of your internal GenAI input, you can ensure that the data being used to train and refine GenAI algorithms is accurate, relevant, and ethically sourced. This helps mitigate the risk of biased outcomes or erroneous predictions, ensuring that GenAI tools deliver reliable and actionable insights that drive business success.
Sensitive data regulation and alerts
We take data security and compliance seriously. That’s why our platform includes refined GenAI data security features, allowing for strict regulation and custom alerts when systems are breached. Our platform monitors GenAI usage in real-time and alerts you to any instances where employees may be feeding sensitive data or intellectual property into the GenAI system.
Whether it’s customer data, proprietary information, or intellectual property, our platform helps you identify and mitigate the risk of data breaches or misuse. By setting up custom alerts and notifications, you can proactively monitor GenAI usage and take immediate action to safeguard sensitive information, ensuring compliance with regulatory requirements and protecting your organization’s reputation and assets.
Invest in comprehensive GenAI insights for your enterprise with Portal26, contact our team today to find out more, or schedule a demo of our platform online now.