Increased sales, lower costs: Executives unveil benefits posed by generative AI

Seven in 10 believe generative AI’s benefits outweigh concerns associated with its integration.

Executives in Singapore are strong advocates of generative AI, a study by Capgemini Research Institute revealed.

Based on the institute’s report, executives believe that in three years, following a successful implementation of generative AI, their respective organisations will see a range of benefits.

These benefits include an 8% increase in sales and a 7% decrease in costs. Executives also foresee a 9% improvement in both customer engagement and satisfaction, and operational efficiency.  

Most executives also believe that generative AI will make product and service design more efficient (78%) and accessible (76%) 

Currently, the most relevant generative AI-based [platforms or tools for industries are chatbots which they often use for automating customer service and improving knowledge management (83%)and designing, collecting, or summarising data (75%).