By Sameer Dhanrajani, CEO, AIQRATE & 3AI
Generative AI has created a level playing field and has upended the business strategy & operational models of the enterprises and In addition to executing well-defined tasks, Gen AI is starting to address broader, more ambiguous problems. It’s not implausible to imagine that one day a “Gen AI strategist in a box” could autonomously develop and execute a business strategy. GCCs, on the other side are embracing Gen AI in different hues and Gen AI will have profound impact on the GCC operations .
GCC leaders are looking at embedding Gen AI in processes and their operating models strategically and are deploying Gen AI and the ensuing impact on GCC operations will be profound.
AI algorithms are not natively “intelligent.” They learn inductively by analysing data. Most GCC leaders are investing in AI and have built robust information infrastructures, Airbus started to ramp up production of its new A350 aircraft, the company faced a multibillion-euro challenge. The plan was to increase the production rate of that aircraft faster than ever before. To do that, they needed to address issues like responding quickly to disruptions in the factory. Because they will happen. Airbus turned to its GCC wherein AI teams came together , It combined data from past production programs, continuing input from the A350 program, fuzzy matching, and a self-learning algorithm to identify patterns in production problems. AI led to rectification of about 70% of the production disruptions for Airbus, by matching to solutions used previously in near real time.
Just as it is enabling speed and efficiency at Airbus, AI capabilities in GCCs are leading directly to new, better processes and results at other pioneering organisations. Other large companies, such as BP, Wells Fargo, Shell , Fidelity, Swiss Re are already solving important business problems with AI. Many others, however, have yet to get started.
The integrated strategy machine is the AI analogy of what new factory designs were for electricity. In other words, the increasing intelligence of machines could be wasted unless businesses reshape the way they develop and execute their strategies. No matter how advanced technology is, it needs human partners to enhance competitive advantage. An integrated strategy machine is the collection of resources, both technological and human, that act in concert to develop and execute business strategies. It comprises a range of conceptual and analytical operations, including problem definition, signal processing, pattern recognition, abstraction and conceptualisation, analysis, and prediction. There lies the immense scope of putting Innovation at scale in GCCs .
Several GCCs are deploying state-of-the-art operation strategies for their parent organisations in the business enabling functions w.r.t supply chain optimisation systems, inventory forecasting system, sales forecasting, profit optimisation and many others. Multiple Financial services & Insurance GCCs are putting GenAI in improving customer service across its insurance and financial services portfolio by offering an online loan in three minutes, thanks in part to a customer scoring Gen AI tool that uses an internally developed face-recognition capability that is more accurate than humans.
GCCs leaders and AI teams are creating multiple approaches to embed Gen AI solutions and capabilities to optimise operational dexterity , reimagine their business operations and derive accentuated business performance and this momentum will continue to stay in the coming period.
