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What CEOs need to know about the potential of Generative AI in Enterprises.

The potential of Generative AI in Enterprises

GenAI is THE next productivity wave, it is not a fad.

Here is what McKinsey says (2023):

  • GenAI’s impact on productivity could add trillions of dollars in value to the global economy. 

  • GenAI has the potential to augment radically the productivity across industries + cost-savings (removing costly/clunky software). 

  • Current GenAI has the potential to automate work activities that absorb 60% to 70% of employees’ time today.

  • The acceleration in the potential for technical automation is largely due to generative AI’s increased ability to understand natural language, which is required for work activities that account for 25% of total work time.

However, generic large language models (LLMs) such as ChatGPT, Gemini, and LLama... face notable constraints within enterprises, hindering their complete effectiveness.

Choosing the right AI framework will be instrumental in harnessing its true potential for your enterprise.

At Symantra, we believe that AI is a Tech Revolution as strong as the start of Internet. Gen AI - implemented properly and in compliance with the EU regulations - offers a competitive edge for enterprises:

  • Deeper insights,

  • Radical productivity,

  • Cost savings - at the minimum you can drop substandard software.

The 6 challenges with using ChatGPT &Co. inside Enterprises

3 severe Limitations for Enterprises, at the functional level:

  • Lack of Timeliness: GenAI tools are trained on old data, they do not capture recent company news, latest regulations... which make them unsuitable for tasks demanding in-depth expertise or business context.

  • Lack of Transparency: GenAI tools such as ChatGPT &Co. do NOT provide sources/citations or underlying reasoning for a response. Impossible to fact-check the answers.

  • Lack of Accuracy:  They are prone to Hallucinations (answering questions with plausible but untrue assertions). Any decision made on inaccurate responses to queries could result in serious issues for your organisation.

Three Data Governance challenges:

  • Privacy and Security: Risk of leaks with standard LLMs, unauthorized access or misuse of sensitive corporate information.

  • Regulatory Compliance: The use of Generative AI must comply with EU regulations (GDPR, EU AI Act…).

  • Integration with Existing Systems: The use of Generative AI inside Corporates requires customization and smart integrations with the Tech stack.

This is how Symantra resolves the 6 Trust & Accuracy challenges associated with the utilization of Generative AI tools within Enterprises.

Check Symantra's AI offering - Secure Artificial Intelligence for Enterprises. We create custom AI Chatbots for Enterprises trained on internal business knowledge and data.


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