Generative AI is not just a trending buzzword, it's rapidly becoming a cornerstone of innovation in the digital realm. Everyone's talking about it, and for good reason. This powerful technology can craft content, generate ideas, simulate designs, and much more, almost as if creating something from nothing. In a recent report, McKinsey outlined six strategic actions that businesses can embrace to exploit its profound capabilities. Let's delve into these strategies in detail:
1. Perform a generative AI evaluation of your commercial activities
Start by assessing your current marketing and sales tech infrastructure. Are there gaps where gen AI could offer a competitive edge? Consider the skill sets within your organization. Do your teams have the knowledge to harness the potential of gen AI? Look for places where low- or no-cost tech can enhance your business.
2. Assemble a dedicated generative AI commercial taskforce
The integration of gen AI into business operations isn't a solo endeavour. Form a cross-functional team comprising of diverse experts—from marketing and sales to IT and pricing. This taskforce can delve deep into gen AI opportunities, ensuring that every proposed use case is both innovative and practically applicable.
3. Spot immediate opportunities in your customer journey
Generative AI shines when applied to the right challenges. Identify areas in your customer journey that offer immediate returns. Whether it's automating outreach emails or refining marketing content, simple yet impactful use cases can be a game-changer.
4. Kickstart your generative AI experiments
Why limit yourself to just one experiment? Launch multiple pilots targeting different stages of the sales cycle. Perhaps it's enhancing the top-of-funnel engagement or optimizing mid-funnel lead nurturing. By tracking results and gathering data, you can refine and optimize these experiments, setting the stage for a broader, more comprehensive gen AI implementation.
5. Empower your sales team with generative AI knowledge
It's one thing to have a tool; it's another to know how to wield it effectively. Offer workshops and training sessions on the basics of gen AI. Equip your sales team with the knowledge and confidence to experiment and innovate.
6. Set clear generative AI protocols
With great power comes great responsibility. As businesses delve into the world of gen AI, it's crucial to have clear guidelines in place. Ensure that sensitive customer data remains protected. Establish stringent verification processes for gen AI outputs, especially when they're customer-facing. Novicell prioritizes security and integrity, ensuring that while your business scales new heights with gen AI, it remains firmly grounded in best practices.
Get started today
The generative capabilities of AI present a transformative opportunity for businesses in the commercial sector. Using these six strategies, you are sure to get started on your own AI journey. Novicell is specialised in helping companies plan, execute and succeed with their generative AI projects, ranging from organising data to integrating generative AI in daily operations. If you are unsure on where to start, we have created our own AI bot that comes up with 10 suggestions on how your company can implement generative AI.