๐“๐ก๐ž ๐„๐œ๐จ๐ง๐จ๐ฆ๐ข๐œ ๐๐จ๐ญ๐ž๐ง๐ญ๐ข๐š๐ฅ ๐จ๐Ÿ ๐†๐ž๐ง๐ž๐ซ๐š๐ญ๐ข๐ฏ๐ž ๐€๐ˆ

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Generative AIโ€™s impact on ๐ฉ๐ซ๐จ๐๐ฎ๐œ๐ญ๐ข๐ฏ๐ข๐ญ๐ฒ ๐ฐ๐ข๐ฅ๐ฅ ๐š๐๐ ๐ญ๐ซ๐ข๐ฅ๐ฅ๐ข๐จ๐ง๐ฌ ๐จ๐Ÿ ๐๐จ๐ฅ๐ฅ๐š๐ซ๐ฌ ๐ข๐ง ๐ฏ๐š๐ฅ๐ฎ๐ž ๐ญ๐จ ๐ญ๐ก๐ž ๐ ๐ฅ๐จ๐›๐š๐ฅ ๐ž๐œ๐จ๐ง๐จ๐ฆ๐ฒ.ย McKinseyโ€™s latest research estimates that generative AI could add the equivalent of $2.6 trillion to $4.4 trillion annually across the 63 use cases they analyzed. This would increase the impact of all artificial intelligence by 15 to 40 percent.

Generative AI will have an impact on most business functions, but, a few stand out when measured by the technologyโ€™s impact as a share of functional cost.

An analysis of 16 business functions identified just four that could account for approximately 75 percent of the total annual value from generative AI use cases:

โœ” customer operations,

โœ” marketing and sales,

โœ” software engineering, and

โœ” research and development

Generative AI will improve the customer experience and agent productivity through ๐๐ข๐ ๐ข๐ญ๐š๐ฅ ๐ฌ๐ž๐ฅ๐Ÿ-๐ฌ๐ž๐ซ๐ฏ๐ข๐œ๐ž ๐š๐ง๐ ๐ž๐ง๐ก๐š๐ง๐œ๐ข๐ง๐  ๐š๐ง๐ ๐š๐ฎ๐ ๐ฆ๐ž๐ง๐ญ๐ข๐ง๐  ๐š๐ ๐ž๐ง๐ญ ๐ฌ๐ค๐ข๐ฅ๐ฅ๐ฌ.

Generative AI has also taken hold rapidly in marketing and sales functions, in which ๐ญ๐ž๐ฑ๐ญ-๐›๐š๐ฌ๐ž๐ ๐œ๐จ๐ฆ๐ฆ๐ฎ๐ง๐ข๐œ๐š๐ญ๐ข๐จ๐ง๐ฌ ๐š๐ง๐ ๐ฉ๐ž๐ซ๐ฌ๐จ๐ง๐š๐ฅ๐ข๐ณ๐š๐ญ๐ข๐จ๐ง ๐š๐ญ ๐ฌ๐œ๐š๐ฅ๐ž ๐š๐ซ๐ž ๐๐ซ๐ข๐ฏ๐ข๐ง๐  ๐Ÿ๐จ๐ซ๐œ๐ž๐ฌ. The technology can create personalized messages tailored to individual customer interests, preferences, and behaviours, as well as do tasks such as producing first drafts of brand advertising, headlines, slogans, social media posts, and product descriptions.

๐Ÿ‘‰ Here is the full article: https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/the-economic-potential-of-generative-ai-the-next-productivity-frontier?stcr=C9A75624B81C4A47AB66FFA090CEB42B&cid=other-eml-ttn-mip-mck&hlkid=3d1526c2422d4db7b6a3d8daee2f22fc&hctky=12133124&hdpid=43e6702d-4a28-4eaf-b5de-33b36f6bd3f8#introduction

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Mark Kalin

Achiever, Competition, Futuristic, Maximizer, Significance

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