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How EY can Help
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EY can harness the transformational power of GenAI to help create value for better returns for PE firms and their portfolio companies. Learn more.
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Prioritizing the right use cases
GenAI can be applied across the business and leaders are inundated with long lists of use cases. However, these alone are not helping businesses identify and realize value. The most advanced firms are developing frameworks that answer two questions:
- What value (in terms of improving profitability, operational efficiency or quality) will this generate?
- How feasible is it to implement from a data, tech architecture and governance perspective?
For many, this means implementing and innovating quickly to generate high value wins early. We are beginning to see many use cases transforming operations: Software companies are seeing upwards of 30% improvement in efficiency of development; consumer companies are transforming engagement with customers through personalization; and companies from all sectors are improving the employee experience via GenAI integration into central services such as HR, talent or finance.
All these successful deployments are marked by the degree of rigor with which they approach value identification in terms of monitoring KPIs effectively as well as understanding and acting on the implications for the business model going forward.