GenAI - From Potential to Profit

Boston Consulting Group's article examines the impact of generative AI (GenAI) on businesses. A survey of over 1,400 C-suite executives reveals that while most acknowledge GenAI's importance, few are effectively leveraging its potential. The article identifies key characteristics that differentiate successful "winners" from hesitant "observers." These winners are actively investing in GenAI, upskilling their workforce, managing costs, building strategic partnerships, and implementing responsible AI practices. The report suggests that companies should deploy GenAI in daily tasks, reshape functions to improve efficiency, and invent new business models to attain a lasting competitive edge.