The enterprise tech space is evolving at an incredibly fast pace and generative AI is leading the charge. In only a year, ChatGPT launched and major tech players like Microsoft, Google and Salesforce released competing announcements about integrating this technology in their platforms.
The future of generative AI for the enterprise is promising, as there are four trends that those who are driving this evolution should be aware of. One major trend amongst enterprises is leveraging AI to access institutional knowledge, as Gartner estimates that over 80% of data is unstructured and so difficult to search through for information. Organizations are also beginning to understand the importance of federated search, a capability that pulls from a large array of sources to find the right information quickly. In addition, tools are beginning to be released with the goal of easily integrating content from a variety of sources. Finally, “hallucinations” are becoming an important topic as it showcases the machine’s ability to confidently assert wrong information as a fact. In order to mitigate this issue, tools are being developed to provide evidence for answers and give users the opportunity to validate the response.
Microsoft, a major tech player in the generative AI industry, recently announced Copilot 365, the tool that can pull data from Outlook calendar and emails to generate bullets for upcoming meetings. This is just one example of AI’s potential to increase productivity and drive growth in the enterprise world. Nicola Morini Bianzino, Ernst & Young’s CTO, put it aptly, stating that this “will change the way we access and consume information inside the enterprise.”
It is important for teams working with generative AI to understand the various use cases to better strategize and implement this technology. Companies must also identify and adhere to the right compliance standards in order to make sure their use of generative AI is safe and secure. As generative AI continues to grow in popularity, it is important to keep up with the trends if your organization wants to remain competitive.
Nicola Morini Bianzino is a CTO at Ernst & Young. Nicola is a strong advocate for the enterprise use of generative AI, and was one of the early adopters of this technology, having seen a need for the ability to leverage and quickly search through unstructured data. Throughout his career in technology, he has been committed to creating solutions that drive business efficiencies as well as innovation.
ChatGPT was launched late last year and quickly became a powerhouse in the generative AI market. Both consumers and enterprises have experienced unprecedented value since its launch due to its unprecedented ability to access unstructured data, helping teams drive efficiencies and identify cost-active strategies for them to operate successfully. ChatGPT is paving the way for the AI industry and impacting how enterprises access, use, and consume information within their organizations.
