Businesses Drive AI Efficiency Using Their Own Data

The data-driven, digital world of today is transforming and optimizing business operations in ways that were previously unimaginable.

Top executives from Alphabet, Microsoft, Bank of America (BoA), and other businesses spent a significant amount of time this week discussing the internal impact of the generative artificial intelligence (AI) technologies that have lately taken the industry by storm on their earnings calls.

Sundar Pichai, the chief executive officer of Alphabet and Google, claims that “pretty much every organization is thinking about how to use generative AI” to boost productivity.

Ruth Porat, the chief financial officer for Alphabet and Google, added, “We use AI across almost every internal financial task.”

Microsoft Chairman and CEO Satya Nadella mentioned a long list of collaborations and use cases to demonstrate how the tech giant is delivering cutting-edge generative AI to customers, underlining that he looks “forward to continuing this journey in what is a generational shift.”

Bank of America, for its part, emphasized that it has been used its own virtual AI assistant, Erica, internally and noted “the extreme benefits it provides in allowing teammates to work much more quickly and efficiently within our own systems.”

In general, AI may improve three essential organizational requirements. Automating back-office and finance company procedures and activities is the first; the second is giving executives real-time data analysis insights; and the third is introducing new relational touchpoints for interacting with both clients and employees.