Friday, October 18, 2024

Workers and Business Leaders Hold Divergent Perspectives on GenAI Applications

A study conducted by Experian and TechUK reveals that fewer than one in three employees are aware that their employer is utilizing generative artificial intelligence (GenAI), even though an impressive 93% of business leaders claim they are implementing it.

The survey, which included 1,250 professionals from UK businesses—among them 250 CEOs and leaders from large companies ranging from 250 to 1,000 employees—examined perspectives on GenAI. According to the findings, a significant majority of CEOs and business leaders (80%) view data analysis as the primary application of GenAI technology. Customer experience ranked second, with 70% recognizing it as a key use case, while 66% identified content creation as a third important application.

In contrast, when employees were asked about GenAI, just over half (51%) cited its main advantage as grammar and spell-checking, while 50% acknowledged its support in improving administrative tasks and desk research. Notably, only 45% of employees reported using GenAI for data analysis.

In the report’s executive summary, Julian David, CEO of TechUK, addressed the potential of GenAI, noting, “Realizing its full potential comes with challenges.” He highlighted a disconnect between leadership and employees regarding the perception and utilization of GenAI. “Though executives recognize opportunities in data analysis, employees demonstrate lower levels of engagement and awareness,” David added. “Thus, establishing strong governance frameworks is vital to ensure responsible deployment and to identify the necessary skills and training for employees to effectively harness this technology.”

Matthew Fryer, the Managing Director of Commercial, Analytics, and AI at Experian Consumer Services, emphasized the importance of identifying specific use cases and opportunities for leveraging AI and GenAI within businesses.

Over the past 18 months, Experian has integrated AI and machine learning into its products, including Experian Boost, the Aperture suite, and the Ascend Technology Platform. Additionally, they have created a use case portal allowing employees to propose potential use cases with visibility across the organization.

Fryer noted that this portal has enabled Experian to quickly prioritize and allocate resources, aligning platform capabilities to deliver maximum value, whether through existing products or new innovations. He remarked, “A swift ‘proof of concept’ is essential for building processes and managing risks, especially in areas like coding productivity.”

While best practice guidelines continue to evolve, Experian advises organizations to start with common themes and best practices that can be customized to meet specific business needs. “It’s important not to consider GenAI in isolation; where applicable, it should be integrated with your machine learning, data, and automation technologies,” the company stated. “By combining these elements, you can drive further business growth and enhance value for stakeholders.”