Generative AI For Business Leaders

Generative AI: A Guide for Business Leaders

Sriram Gupta Kaja | Sr Consultant | Nov 2024
What is Generative AI?

Generative AI is a sort of artificial intelligence that can generate new content, including text, images, music, audio, and video. It's like having a super-creative robot helper who can develop various types of material based on the facts it's been taught with.

How does Generative AI Work?

Generative AI models learn patterns from vast volumes of data. Once they understand these patterns, they can create new content that follows similar patterns. For example, if a model is trained on thousands of dog photographs, it can produce new images of dogs that appear realistic.

Gartner's Predictions about Generative AI

Gartner forecasts a dramatic shift in how businesses leverage AI over the next few years.

  • Conversational AI Everywhere: By 2024, conversational AI will be integrated into 40% of enterprise applications. This represents a significant increase from the less than 5% adoption rate in 2020. AI-powered chatbots and virtual assistants will become increasingly prevalent in customer interactions and corporate operations.
  • AI-Powered Development: The software development lifecycle is about to experience a shift. Gartner expects that by 2025, 30% of organizations will be using AI-augmented development and testing methodologies. This points to a future in which AI aids with coding, debugging, and quality assurance, increasing efficiency and reducing time-to-market.
  • Design Automation: Generative Design AI is set to transform the creative process. Gartner predicts that by 2026, 60% of website and mobile app design work will be automated. This means that AI will produce design possibilities, layouts, and even content, freeing up human designers to focus on more complex creative jobs.
  • Rise of Robocolleagues: The workplace is transforming. According to Gartner, over 100 million people will cooperate with AI-powered "robocolleagues" by 2026. These digital assistants will undertake regular chores, provide insights, and support human workers, thus increasing productivity and job happiness.
  • Autonomous Application Development: The most ground-breaking prediction is that by 2027, AI will be able to create entire apps without human assistance. This represents a paradigm change in which AI plays a substantial role in application development, with the potential to accelerate innovation and disrupt traditional software development procedures.
What are practical uses of Generative AI today?

Generative AI will advance rapidly in terms of scientific discovery and technology commercialization, but use cases in creative content, content improvement, synthetic data, generative engineering, and generative design are emerging quickly.

  • Written content augmentation and creation: Creating a "draft" output of text in the specified style and length.
  • Question answering and discovery: Allowing users to find responses to input based on data and prompt information.
  • Summarization: Providing abbreviated versions of discussions, publications, emails, and websites.
  • Simplification: involves breaking down titles, developing outlines, and extracting crucial text.
  • Improve chatbot performance: by improving extraction, whole-conversation sentiment classification, and journey flow generation from broad descriptions.
  • Software coding: involves code generation, translation, explanation, and verification.
Why Generative AI Skills by Appian?

The Appian AI Skill Designer helps leverage AI to understand data, without the need for extensive data science. The no-code design made it quick and easy for our developers to incorporate AI into our existing Appian processes, automating chores, improving decision-making and accelerating innovation.

Appian Core Generative AI Skills:

Set of GenAI Skills provided by Appian are below:

  • The Prompt Builder: It is the foundation for developing and enhancing prompts for generative AI models. It allows you to define the intended output in simple terms and continually modify the prompt for the best outcome.
  • Summarization: It is the process of condensing extensive text into succinct summaries while extracting crucial ideas and information.
  • PII Detection: Detects personally identifiable information (PII) in text, protecting data privacy and compliance.
  • Data Extraction: Extracts individual data points from unstructured text, making the information available for analysis and processing.
  • Text Classification: Classifies text based on predefined criteria, allowing for automated routing and decision-making.
  • Text Generation: Generates new text material, such as emails, reports, or marketing copy, using specified templates or data.
Key Benefits by using Appian Gen AI Skills
  • Low-code simplicity: You don't need to be a data scientist to leverage AI. Appian's platform makes it accessible to a wider range of users.
  • Pre-built AI capabilities: Benefit from a range of pre-trained models and skills tailored to common business needs.
  • Integration with business processes: Seamlessly incorporate AI into your existing workflows, optimizing operations.
  • Improved efficiency: Automate tasks, extract insights from data, and make faster, more informed decisions.
  • Enhanced customer experiences: Create more personalized and responsive interactions with customers.
  • Increased productivity: Free up employees to focus on higher-value tasks by automating routine activities.
Business Use Cases of Generative AI Skills by Appian
  • Insurance industry: Use GenAI to analyze claims data, detect fraudulent claims, and automate claims processing.
  • Financial services industry: Employ GenAI to extract key data from financial reports, contracts, and invoices. Provide automated responses to common financial inquiries.
  • Human Resources: Find the perfect candidates, speed up the hiring process, and make sure job seekers have a great experience.
  • Health Care: Use GenAI for Medical document summarisation, extract the data from clinical trial records.
  • Legal: Use GenAI for contract summarization, extract the data from key documents and contracts and Extract PII data related to contracts.