Based on recent research conducted by Accenture, where I serve as the semiconductor industry global lead, it’s evident that 77% of high-tech executives recognize the significance of generative AI (GenAI) in their reinvention strategies. Surprisingly, only 58% of them view it as a primary driver of revenue growth. This gap underscores a common challenge: many lack a clear understanding of GenAI and how to leverage it effectively for revenue generation.
In a prior article, I explored various GenAI use cases and shared best practices for high-tech firms to initiate their adoption of this technology. Building upon that discussion, I aim to delve deeper into GenAI’s potential to revolutionize the entire high-tech value chain, while also outlining essential steps for successful implementation.
Changing How We Do Things to Make More Money
There are lots of chances for high-tech companies to use generative AI to change every part of their value chain. High-tech supply chains are really complicated, and even small problems can cause big issues that last for months. Using big language models (LLMs) can help with checking things and managing contracts from start to finish. It also helps stakeholders see what’s going on so they can react faster.
According to BoomerangC, Generative AI can also make manufacturing faster and better by helping with making prototypes and designing products quickly. It can also use fake data to make things better, like reducing waste or finding problems early on. Even for field technicians, AI can give them useful info so they can do their job quicker and more accurately.
Also Read : Why Humans Are Vital to an AI Team?
But the good stuff doesn’t stop at making operations better; it can also help make more money. Take sales teams, for instance. They can use AI assistants to find out the latest info about customers, like recent chats or past purchases. This makes it easier to turn leads into sales. And customer support can do the same by suggesting new services to customers. These benefits can even help other parts of the company, like customer success managers and small business partners, by giving them smart ideas to keep customers happy.
Building a Big Team for AI
Taking a team-based approach can lead to big wins—just like how the semiconductor industry works together or how software companies team up with telcos to succeed. Because getting into AI is a big deal—it costs a lot and needs a lot of stuff—I suggest that high-tech companies team up with others who are good at different things to spread out the risks. And the good news is, it’s already happening.
For example, we helped Intel make AI kits that anyone can use, so developers can make their code better for AI stuff. In just over a year, we taught about 220 developers how to use AI tech for business. And CSpotDE teamed up with a German AI company called Aleph Alpha to offer AI stuff without needing supercomputers. It lets customers make their own AI models using their own data, all without the big costs because it runs on HPE’s own supercomputers.
5 Must-Dos for Putting It into Action
- Get the Right Team: Focus on getting the right people and changing how they work to fit the AI era. This means helping them learn new skills and always improving.
- Be Responsible: Use AI wisely and think carefully about how you use it. Make sure it adds value and watch out for problems like bias or privacy issues. Test everything thoroughly before putting it into action.
- Build a Strong Tech Base: Make sure your technology is ready for AI. This means updating your systems, making your apps AI-friendly, and being able to use different AI models.
- Keep Evolving: AI is a big deal and takes time to get right. Plan for the long term and break it down into small steps to keep moving forward.
- Focus on What Matters: Don’t just use AI in one area; think about how it can help your whole business. Make sure whatever you do with AI adds value for your customers. Invest in things that will make a big difference, both in efficiency and in creating new opportunities.
Guiding the Way as Users and Supporters
In general, Generative AI can change the whole high-tech industry for the better by making things work smoother, saving money, making customers happier, and bringing in more money. As the tech gets better, high-tech companies that use Generative AI in their work will have an edge in the market. They’ll be leaders in using the tech and helping others do the same.
