New report examines most compelling use cases across six key industries to help enterprises navigate the transformative impact of Generative AI
NEW YORK, Sept. 12, 2023 /PRNewswire/ — Today, the Deloitte AI Institute™ unveiled a new report exploring Generative AI use cases across six major industry verticals. With a remarkable capacity to consume and generate information in different modalities, Generative AI has unleashed new ways of working and transforming enterprises across every sector. Amid the current frenzy of advancement and adoption, “The Generative AI Dossier” details 60 of the most compelling use cases for businesses today, serving as a roadmap for executives looking to deploy high-impact Generative AI solutions at scale.
“At the intersection of innovation and creativity, Generative AI has proven to be a catalyst for enterprise transformation and growth across industries,” said Lynne Sterrett, Deloitte U.S. Clients, Industries & Insights leader. “As reported in ‘Deloitte’s State of AI 5th Edition,’ embracing the future of this technology amid constant industry disruption requires selecting the right use cases. ‘The Generative AI Dossier’ serves as a guide for leaders looking to do just that. By deploying applications that enhance productivity and personalize processes, organizations can use Generative AI to accelerate the pace of their business, evolving an experimental investment into an established value driver.”
“The Generative AI Dossier” highlights six industries, including consumer; energy, resources and industrial; financial services; government and public services; life sciences and health care; and technology, media and telecommunications. Through its collection of business-ready use cases and applications, the report details the various advantages of Generative AI in driving efficiency, creativity, speed, scale and capacity and highlights modalities and considerations for risk and trust:
- Financial services (FSI) – The potential value of Generative AI in FSI is not merely a downstream application, but rather it can serve as a powerful and complementary tool working with other machine learning models and applications. Integrating Generative AI into an FSI organization’s wider technology stack can enhance customer lifestyle management, accelerate model development, tune new data pipelines, and deliver enterprise-wide digital transformation to reduce time, cost and risk.
- Technology media and telecommunications (TMT) – The data-rich TMT industry sees its greatest potential Generative AI value in accelerating efficiencies through digitization and shifting organizations from product-focused to customer-centered. TMT companies face a transformative opportunity to streamline processes, free up human capital for creative, value-driven tasks and ultimately help companies grow and innovate.
- Energy, resources and industrial (ER&I) – Faced with substantial challenges related to energy security, affordability and profitability, ER&I companies can use Generative AI to glean valuable insights, adopt to industry nuances and evolve to take a leading market position. Looking to the future, Generative AI will play a central role in developing real-time, bespoke training materials to support the workforce through transition and adoption of sustainable practices.
- Consumer – For businesses in the consumer sector, Generative AI holds vast potential for improving and enhancing interactions, creating compelling content on demand, and analyzing large-scale enterprise data at faster speeds. From helping customers find the answers and products they need to enabling a level of market analysis with granularity and speed that was previously unachievable, Generative AI will sit at the core of consumer business.
- Government and public services (GPS) – GPS organizations are increasingly exploring how Generative AI can be used to help automate administrative tasks, analyze policy documents, parse case notes and inform customized citizen services. In fulfilling their duty to serve their constituents, public servants can use Generative AI natural language processing to revolutionize the way governments interact with citizens while promoting the responsible use of this technology.
- Life sciences and health care (LSHC) – Generative AI can help transform the LSHC sector in three archetypical ways: enhancing operational performance through improved employee productivity; providing hyper-personalized experiences to patients, customers and employees; and developing enterprise digital and data solutions. Together, these capabilities have the power to improve efficiency, experience and agility and enhance quality of care and health outcomes.
“As our clients around the globe embrace the transformative power of Generative AI, we are continuously focused on delivering valuable insights and actionable methodologies to business leaders looking to capitalize on its potential,” said Costi Perricos, Deloitte Global AI and Data leader. “‘The Generative AI Dossier’ is a substantial tool to help decision makers think creatively about this new technology and how it can be used to gain a competitive edge.”
Through its new Generative AI practice, Deloitte has scaled its AI capabilities, alliances and offerings across businesses and industries to capture growing demand and lead the marketplace. At the core of the practice is a Generative AI Market Incubator with a dedicated team of engineers developing pilot programs, demos, and proofs of concept; and a R&D team working to train and tune Foundation Models. Through its AI Academy™, Deloitte is on the pathway of training up to 10,000 Deloitte practitioners across the globe, using tailored Generative AI training curricula. “The Generative AI Dossier” comes on the heels of recent expansions with key alliances to help Deloitte clients build innovative new AI applications, including Google Cloud and AWS, and NVIDIA.
The Deloitte AI Institute supports the positive growth and development of AI through engaged conversations and innovative research. It also focuses on building ecosystem relationships that help advance human-machine collaboration in the Age of With™, a world where humans work side-by-side with machines.
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SOURCE Deloitte Consulting LLP
