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Published on 00/00/0000
Last updated on 00/00/0000
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INSIGHTS
3 min read
Published on 11/13/2024
Last updated on 11/13/2024
How AI assistants accelerate ROI and fast-track value for enterprises
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As more industries adopt and deploy generative artificial intelligence (GenAI) applications, the potential economic impact is nothing short of staggering. One study estimates that GenAI applications will generate value equivalent to $4.4 trillion in global corporate profits annually. The power of GenAI is validated further by the Cisco AI Readiness Index, which revealed that 63% of organizations hope to use AI-powered solutions to drive efficiency and productivity in their enterprise.
Realizing the full potential of this technology requires more than just enthusiasm. Achieving measurable returns requires a strategic approach. Companies need to identify high-impact use cases that can both maximize value and bring results quickly. As a benchmark, research from “Driving productivity and improved outcomes with Generative AI-powered assistants” (eBook) found that 40% of organizations report a time-to-value of just one month for GenAI initiatives.
The challenge of measuring ROI
Despite its promising outlook, measuring ROI and business impact from GenAI remains elusive for many leaders. In fact, 28% of organizations consider measuring ROI as their top AI implementation challenge. When calculating their return, organizations must consider how GenAI will integrate with existing systems, scale across their organization, and the costs for implementation.
One way to address this challenge is by implementing AI assistants as a high-impact use case that offers speedy time-to-value across enterprise functions. AI assistants can streamline tasks, enhance productivity, and help bridge skill gaps, making them a valuable addition to workflows.
By tapping into enterprise data, they can improve contextual understanding and deliver more relevant responses, reduce inaccuracies, and speed up decision-making. With their ability to deliver quick, measurable results, AI assistants provide a strategic path for organizations seeking immediate returns on their GenAI investments.
AI assistants in action: Transforming the legal domain
In the legal domain, AI assistants perform time-intensive tasks with reliability and precision, boosting efficiency and accuracy. These tools are helping to:
- Streamline contract review processes
- Identify standard clauses
- Flag potential issues
- Automate searches for relevant cases and statutes
- Generate essential legal documents, such as nondisclosure agreements and contracts, based on predefined templates.
By performing these tasks swiftly, AI assistants enable legal teams to focus on higher-value activities. AI assistants are setting a new standard of productivity and efficiency in the legal field.
As other industries explore GenAI assistants, the potential for transformation is immense. To see how AI assistants can drive similar benefits across various sectors, explore more examples in the eBook.
Learn more about maximizing GenAI impact
For enterprise leaders looking to make strategic decisions, this resource offers practical guidance on integrating AI assistants across business functions. You’ll have the tools you need to turn GenAI from a promising investment into a measurable success.
Download the eBook to get started on building a stronger GenAI strategy for your organization.
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