Generative AI is surrounded by a lot of hype at the moment. But can this technology be a useful strategic ally for Chief Digital Officers (CDOs)? The answer is yes. As generative AI continues to develop, it will help CDOs to lead their companies towards a successful digital future.
Let’s take a closer look at 7 areas where generative AI can make a difference.
1. Internal data harnessing for rapid report and presentation creation
AI can be linked to an internal data pool, allowing it to comb through internal documents, previous meeting minutes, contract documents, client documents, sales cases, and customer service tickets. For example, if the board requests an impromptu update on a high-stakes project, an AI tool could piece together relevant documents and create a cohesive report quickly. This efficient sifting allows for rapid preparation of reports and presentations, streamlining these often cumbersome administrative processes.
2. External data analysis for sales preparation
AI systems can also navigate externally available client information. Before a pivotal meeting, AI could pull up recent news, shareholder reports, and market performance related to the customer. The AI could then perform in-depth analyses of the client's status and the challenges associated with their industry. With such insights, sales teams would be better poised to tackle client meetings.
3. Generic phenomena monitoring and strategic process tracking
AI systems can be used for strategic planning. AI can process vast amounts of data from multiple sources, providing comprehensive insights into customer behavior, market trends, and the performance of various company initiatives.
4. Visual enhancements and mockup creation
On the visual side, generative AI will become an invaluable tool, replacing traditional image banks. For example, for a new advertising campaign, an AI could curate a selection of fresh and appealing images aligned with the demographic's preferences. This will save significant time in image searching and ensure more relevant image choices. Moreover, AI can create mockups for projects more quickly.
5. Software development enhancements
In the realm of software development, generative AI boosts efficiency by highlighting different approaches to developers, suggesting code, reducing redundant work, and assisting in quality control by creating tests. For example, imagine a tricky API integration – here, an AI tool might recommend a method previously deployed with a similar third-party tool, minimizing the trial-and-error phase. It can sift through support tickets to identify recurring issues that might necessitate dedicated developmental work.
6. Sentiment analysis and recruitment assistance
Generative AI can do sentiment analysis, monitoring whether satisfaction is rising or falling among both customers and employees. In the recruitment domain, AI can swiftly draft a compelling job advertisement, send out tailored invitation emails to potential candidates, and even summarize the initial round of interviews' feedback – allowing the HR team to focus on the more nuanced aspects of the hiring process.
7. Personalized customer experiences
Generative AI can also enhance the customer experience by using customer data to predict individual needs and preferences, personalizing their app experiences. This level of personalization can result in increased user engagement and satisfaction.
It’s important to remember these are still future scenarios – generative AI is developing fast but still faces some challenges with producing inaccurate information and dealing with memory limitations. But as these challenges are overcome, generative AI looks set to assist the work of CDOs.