Generative AI as a driver for business growth

How companies can benefit from AI-powered solutions & enterprise search

The introduction of generative artificial intelligence (AI) by OpenAI with the release of ChatGPT at the end of 2022 has heralded a significant change in the use of digital technologies. This progress enables companies to make their work processes more efficient while opening up new avenues for creativity and innovation. According to Digital Austria, the increased use of AI in Austrian companies is expected to generate additional value of seven billion euros by 2035.

However, the use of generative AI also poses challenges: The decision-making processes of machines are often not completely transparent and can lead to unexpected results. Training datasets can contain errors or inherent biases that skew the output. These shortcomings can lead to so-called “hallucinations”, in which AI systems generate inaccurate answers. In addition, copyright issues, especially in the context of the creation of image material, raise significant legal problems. A first step towards minimizing corresponding legal risks is the use of one’s own or explicitly licensed image material as the basis for AI-generated works. To further mitigate these risks, it is important to familiarize yourself with the terms of use of the AI platforms and ensure that all data used complies with applicable data protection regulations.

Efficient communication through AI-generated texts

Probably the best-known area of application of generative AI in companies is certainly the creation and optimization of texts. From the automatic creation of emails to the enhancement of texts, artificial intelligence offers a variety of tools to optimize daily correspondence while ensuring quality. Simple prompts are enough to turn ChatGPT, Bard and Co. into editors: from simple spell checking to easier-to-read texts to rewriting entire passages in a specific writing style – generative AI makes it possible. Even translations are much more successful than the texts previously provided by online translation tools by recognizing the specific context. Contracts or legal texts in particular should nevertheless be proofread by an expert so that there are no unpleasant surprises.

“Especially in the context of enterprise search, the ability of generative AI to automatically provide translations for search queries and documents is a huge advantage,” said Christoph Wendl, CEO of the Austrian IT company Iphos IT Solutions. “Language barriers within internationally active companies are overcome in this way. Users can search in their preferred language and receive relevant documents, which are automatically and contextually translated by AI-powered translation tools. This not only improves the user experience, but also promotes collaboration in global teams and increases efficiency in knowledge sharing.”

Automated summaries for streamlined knowledge management

Generative AI can bridge the gap between data overload and knowledge management by creating automated summaries of large documents, reports, and policies. These summaries make it easier for new hires to quickly familiarize themselves with key company operations during onboarding.

By making the key points clear and accessible, the entire team can access the information they need more quickly without having to work through detailed documentation. This increases efficiency in solving everyday tasks and fosters a collaborative work culture where knowledge is shared and used effectively.

Quick access to relevant data

By analyzing and categorizing company data such as documents, images, emails, databases, etc., generative AI enables efficient access to required information by extracting unique features. Content can be categorized and searched according to common topics, key phrases, key figures and contexts, but also specific image content. The daily data search is thus significantly shortened and leaves more time for more important tasks.

With little effort to top support

“Artificial intelligence also saves companies time and money in customer service and support. Currently, the most cost-efficient option here is to use it in combination with enterprise search solutions. AI analyzes documents, emails, and databases to identify in-depth relationships and relevant information. Help desk employees can now immediately access the data they need through simple requests in natural language and process customer questions much more efficiently and quickly,” Wendl reports from practice.

“Some companies already have fully automated solutions in place that process inquiries independently. The AI analyzes e-mails not only for the actual content, but also for the tonality, searches for solutions in documents and databases and answers the query independently. Especially in internationally active companies that communicate with customers in several languages, such a solution is a decisive competitive advantage.”

Internal market analysis and anomaly detection

Generative AI is not only pioneering in the monitoring and analysis of corporate data, but also scores points in the marketing sector. By identifying patterns and highlighting irregularities, it helps companies to be proactive and make informed decisions in every way.

Especially in the dynamic world of marketing, generative AI in combination with powerful enterprise search solutions can play a central role. It enables in-depth analysis of customer behavior and market trends by searching and analyzing not only internal data but also a wide range of market information. Not only does it search and analyze internal data, but it also taps into external information such as customer feedback, online reviews, and social media to gain comprehensive insights into customer behavior and market trends.

This ability to efficiently analyze both internal and external data sources drives a data-driven marketing strategy. Marketing teams can thus react quickly to changes in the market and optimize their activities accordingly.
In addition, AI can perform dynamic, real-time monitoring of internal metrics in accounting and project management areas, automatically highlighting irregularities that would otherwise be associated with time-consuming, meticulous comparative work.

The algorithm for more creativity

Generative AI can also have a supportive effect in the creative field. It serves as a source of inspiration and helps to develop innovative solutions by generating and developing ideas based on specifications.

For example, ChatGPT, Bard & Co. are excellent brainstorming partners who develop ideas, bring alternative suggestions and support teams in finding innovative concepts. “In combination with an enterprise search solution, it can be ensured that existing knowledge is built on and that you do not spend unnecessary time reinventing the wheel twice,” adds Wendl.

Beyond Technology: The Human Perspective

At this point, critics of AI in the workplace can be reassured: Despite the immense impact on work processes, human input was needed to give AI a framework and ultimately decide on the quality of the results.

Despite the advanced possibilities of AI, experts emphasize the need for human surveillance. “The combination of human judgment and AI-powered efficiency is the key to success,” explains Christoph Wendl “Through targeted training and the establishment of quality controls, companies can exploit the full potential of AI without compromising the integrity and security of their processes.”

Predictive integration as a success factor

The use of generative AI in companies promises not only an increase in efficiency, but also a clear competitive advantage. Adapting to industry-specific requirements and carefully integrating these technologies is crucial. “It’s about setting the course for the future and actively shaping innovation,” concludes Wendl, who has been intensively involved with AI as part of the in-house enterprise search software searchit for years.