By Deon Nicholas
With the advent of large language models (LLMs) like ChatGPT, generative AI is one of the fastest-growing areas of artificial intelligence today. And the buzz around generative AI is very real. With recent advancements in large language models like ChatGPT, generative AI has become even more powerful and more applicable in business. With its ability to create new and original content, such as music, images or text, generative AI has the potential to revolutionize industries and change the way we live and work.
But there’s one question on every business executive’s mind today.
“How can I apply generative AI to my business?”
Across the world, businesses are looking for ways to leverage generative AI for their needs and gain a competitive edge. So here are five concrete ways to apply generative AI to your business today.
1. Marketing Content Creation
Marketing is one of the most important areas of business. After all, if customers don’t know about your product or what you do, there’s little chance they will use it. But marketing isn’t just about advertising; it’s about messaging, positioning, brand story and, most of all, connecting with the hearts and minds of your potential customers.
Marketing is crucial for businesses, as it’s how customers learn about a product and connect with it emotionally. Content is key in marketing, but traditional methods of creating content are time-consuming and sometimes a game of luck.
With generative AI, marketers can create content quickly and easily, freeing up time to focus on creative concepts. Jasper AI and Writer AI create marketing copy and AI-generated images. DesignerBot by Beautiful.ai automates presentation creation. Runway ML provides video and content editing tools powered by AI. And Mutiny uses AI to optimize website conversion rates.
These tools allow marketers to iterate on concepts efficiently, fine-tuning content to perfection.
2. Sales & Sales Development
Despite the rise of product-led growth (PLG), Sales is still personal business. Salespeople need to understand the customer and offer a tailored solution, especially in high-value sales. Templates for sales outreach and call scripts can help speed up the process but often feel like a compromise between quality and quantity.
Generative AI can change this. With generative AI, you can truly have the best of both worlds. SellScale uses AI to personalize SDR outreach at scale. And Outreach launched Smart Email Assist to auto-generate accurate email copy, freeing up salespeople’s time to personalize and edit.
Generative AI enables sales teams to keep their focus on quality and personalization without sacrificing efficiency.
3. Customer Support Automation
Generative AI is set to revolutionize customer support. Good customer support is vital for building customer loyalty, but providing adequate resources and staffing can be a challenge for businesses. This can result in long resolution times, poor quality of service and frustrated customers.
While very hard to get right, generative AI for customer support automation is a very powerful way to better serve customers. Forethought built the first generative AI for customer support. This AI fine-tunes large language models based on a business’s customer service data and solves inquiries or assists agents with complex issues. Platforms like Cohere provide access to advanced language models and NLP tools to build customer support automation or conversational AI tools with ease, given a sufficiently technical engineering team.
4. Natural Language Coding & App Development
If you’ve ever seen the movie Minority Report, you may have geeked out about the futuristic user interfaces in the movie.
Traditionally, building a user application involves writing code in a programming language that is readable by computers and provides a structure for the application’s logic and functionality.
Generative AI is revolutionizing the way we create applications. Instead of coding in computer language, developers can use natural language to communicate, and the AI generates the code as easily as it can generate a content article or Shakespeare.
5. Data Privacy & Synthetic Data
Data privacy is crucial for keeping personal identifiable information (PII) data secure from unauthorized access or misuse. With rising personal data collection by companies, ensuring data security is crucial. To avoid legal penalties and harm to reputation, companies must abide by data privacy laws like GDPR and CCPA.
Businesses use representative data to build products and provide services, but this access can come at a cost to customer privacy. However, clever application of generative AI can solve this problem. Mostly.ai and Tonic.ai use generative AI to produce synthetic data from real data, preserving privacy while keeping data realistic for testing and training machine learning models. Private AI takes this even further by redacting and anonymizing PII within data sets. This means customer data can be appropriately redacted even while in use for production workloads.
The Generative AI revolution
Overall, generative AI and LLMs are being applied in a wide range of enterprise applications to solve complex problems and create innovative solutions. Embracing generative AI in your business will change how you operate, unlock opportunity and create a competitive edge in today’s rapidly evolving marketplace. There has never been a better time to start exploring the many ways in which generative AI can benefit your organization. Every business leader—whether you’re in marketing, sales, customer support, engineering, data privacy and more—can stand to benefit from applying generative AI to their business today.