Anees Merchant, Executive Vice President – Global, Customer Growth & Success, Course5 Intelligence talks about the latest trends in generative AI.
What are the latest trends in Generative AI and how are the businesses adopting it?
Anees Merchant - Generative AI age trends and adoption followed the trend when the internet was introduced. Organisations have started experimenting with new technologies which Generative AI to understand, measure the impact, evaluate the security and ethical concerns and more importantly, understand the need for change management in how organisations would operate shortly.
The core strength of generative AI is enabling organisations to Automate, Augment, Enhance and liberate the workforce of tasks that can take hours/days. This makes it a powerful tool for businesses looking to enhance operations, enrich customer engagement and bolster overall efficiency. For example, generative AI can interpret raw consumer feedback from various platforms and derive insights from this data, spotlighting potential product or service improvement areas based on customer suggestions.
More use cases of Generative AI can be a game-changer in personalisation use cases when combined with discriminative (traditional) machine learning algorithms. Many organisations have struggled to drive hyper and scalable personalisation; however, businesses can now construct more strategic and engaging marketing campaigns by leveraging the insights from machine learning-based customer profiling and generative AI’s ability to create more personalized offers.
However, challenges and risks are still associated with adopting generative AI. It is crucial for businesses to carefully consider these risks and challenges before adopting generative AI.
How can the Generative AI be used for training and education within the organisation?
Anees Merchant - Generative AI has immense creative and personalisation potential, which can be leveraged in the workplace for training. It can analyse employee data such as company positions, skills, training needs, current work throughput, peer feedback, customer ratings, and feedback and manager and performance reviews to identify skills gaps and areas where employees need training. From there, it can design, personalise and recommend training programs that help workers close the skills gaps and develop the knowledge and skills needed to succeed. Generative AI can be leveraged to monitor ongoing performance and skill enhancement to optimise further and enhance the individual's training needs. This method offers an easier way to track staff progress and pinpoint areas where training needs to be improved.
How can the generative AI training be leveraged?
Anees Merchant - Generative AI can also analyse job needs, evaluate training materials, write relevant material, or enhance existing content. By leveraging Generative AI training, departments can create different dynamic materials more efficiently, thus raising the level of personalised learning experiences for the workforce, monitoring, tweaking and enabling information retention.
A Generative AI solution can not only be confined to internal organisation training and knowledge assets; it can also suggest external courses and knowledge bases that employees may be interested in or would help them improve. In addition, based on the work evolution and changing business environments, Generative AI can recommend emerging courses that may be relevant.