Foundation models, including generative pretrained transformers (which drives ChatGPT), are among the AI architecture innovations that can be used to automate, augment humans or machines, and autonomously execute business and IT processes.
The benefits of generative AI include faster product development, enhanced customer experience and improved employee productivity, but the specifics depend on the use case. End users should be realistic about the value they are looking to achieve, especially when using a service as is, which has major limitations. Generative AI creates artifacts that can be inaccurate or biased, making human validation essential and potentially limiting the time it saves workers. Gartner recommends connecting use cases to KPIs to ensure that any project either improves operational efficiency or creates net new revenue or better experiences.
In a recent Gartner webinar poll of more than 2,500 executives, 38% indicated that customer experience and retention is the primary purpose of their generative AI investments. This was followed by revenue growth (26%), cost optimization (17%) and business continuity (7%).