A recent International Data Corporation (IDC) report finds that 35% of enterprises worldwide use GenAI to create digital products and services by 2025. IDC predicts that GenAI and automation will enable organisations to drive USD 1 trillion in productivity gains worldwide by 2026.
Productivity gains
The recent global C-suite survey revealed that tech leaders will focus on productivity improvements in sales, IT, and finance functions in the next 18–24 months. Over half of the respondents consider productivity gains their top business goal for the next 18 months.
With its ability to uncover untapped insights and knowledge, analysts predict that GenAI tools will enable C-suite executives to double the productive use of unstructured data in 2024.
Revenue growth
"For most organisations, it is easy to develop hundreds of productivity use cases around GenAI, but many are already questioning whether they are over-pivoting on cost reduction and not focusing enough on how GenAI can help them to grow their revenues," says Jyoti Lalchandani, IDC's group vice president and regional managing director for the Middle East, Türkiye, and Africa (META).
"We expect the emphasis on productivity gains to give way to revenue growth outcomes in the next 3–5 years, with sales, IT, finance, operations, and supply chain functions all reporting revenue growth expectations from GenAI. Providers must track this shift carefully with their core buyers to ensure that their GenAI solution offerings continue to align with the evolving business goals of their customers," comments Lalchandani.
