Generative AI is a powerful tool that can automate tasks, generate new ideas, and provide insights. This can help businesses innovate faster, improve productivity, and reduce costs. For example, generative AI can be used to automate customer service tasks, create personalized shopping experiences, and optimize inventory and pricing. As generative AI continues to develop, it will become even more powerful and versatile. Businesses that embrace this technology will be well-positioned to succeed in the future.
Generative AI models have been successfully integrated into various existing business frameworks. However, in order to unlock their full potential, businesses need to ensure the followings while integrating it to the existing frameworks:
According to our recent survey, most of the business owners ask, can generative AI generate revenue? But the question should be how much profits it can generate, because it is quite obvious that generative AI has full potential to generate revenue.
The actual profits that generative AI can generate will vary depending on the specific application and the business that is using it. However, some estimates suggest that the generative AI market could be worth up to $4.4 trillion by 2028. This is due to the many potential applications of generative AI, which can help businesses to save time and money, improve productivity, and create new products and services.
A study by Gartner found that 40% of marketing and advertising professionals are already using generative AI, and that number is expected to grow to 70% by 2025.
Grand View Research found that the global market for generative AI in technology is expected to reach $18.2 billion by 2025.
Studied by several organizations predict that global market for generative AI in finance, healthcare and retail industry is expected to reach $10 billion by 2025.
Stop Losing Customers
Using generative AI to predict the customers that are more likely to churn based on the historical data collected and curated from different data sources.
Know Your Customers
Leveraging generative AI, NLP and ML models to perform sentiment analysis on various types of text, such as customer reviews, social media posts, or support tickets.
Lower Operational Costs
With generative AI-powered predictive maintenance systems, we can identify potential equipment failures or maintenance needs before they occur, enabling timely repair.