How to Use Generative AI to Optimize Your Management Processes

Are you already reaping the benefits of Generative AI for your business? Or you find yourself confused within the AI landscape?

According to a recent report by BITKOM – Germany´s digital association representing over 2,200 companies of the digital economy – “almost every second company (46 percent) is convinced that AI will revolutionize office work as much as the introduction of the PC”.

Nevertheless, more than 75% of German companies are on “waiting mode” and prefer checking for other people´s experience with the technology before integrating it themselves, wasting on opportunities that AI might bring them now.

In this article, we´ll ease the way for you and show you how you can integrate Artificial Intelligence – and more specifically Generative AI – in your management processes to increase your efficiency and skyrocket your productivity.

For our ValueMiner customers, bear in mind that the following use cases are all things you can already start enjoying today.

Difference between Traditional AI and Generative AI

Before exploring Generative AI´s use cases for your management processes, let us briefly clarify how Generative AI differs from traditional AI.

Traditional AI, focuses on being trained to follow specific rules and performing specific tasks intelligently, without creating anything new. Differently, Generative AI is a subset of artificial intelligence that comes up with something new based on the piece of information you gave it.

Generative AI is in fact trained on a set of data and relies on machine learning algorithms to learn the underlying patterns of the training datasets to generate new data.

Therefore, the key distinction between traditional AI and Generative AI lies in their respective capacities and areas of use. Unlike traditional AI, which is primarily used for data categorization, predictions and data analysis, Generative AI goes one step further and creates entirely new data in form of texts, computer code, images, or audio in response to queries.

Generative AI Use Cases to Optimize Your Management Processes

Generative AI represents more than just a technological advancement. It serves as a transformative force that can reshape the very foundations of business operations and processes.

Let´s see together how you can integrate Generative AI in your small, mid-sized or large company to streamline your management processes:

1. Talk To Your Data with a Generative AI Knowledge Management Assistant:

One practical application of Generative AI is to enable internal chatbots directly linked to your business knowledge base and data repository. By leveraging these tools, employees can quickly and efficiently ask questions and receive accurate responses, saving time and ensuring that essential insights and resources are always just one click away.

But – there is always a BUT – as you may want to avoid unnecessary access to sensitive information and prioritize your data protection, we would recommend opting for an AI Knowledge Assistant that works on a user privilege principle. It means that information access is exclusively based on the user´s role within your organization. As a result, compliance is enhanced, and operational efficiency is maximized.

Additionally, to avoid potential AI hallucinations, the most advanced Generative AI Knowledge Assistants are backed up by a Retrieval Augmented Generation (RAG) system to ensure that the information you receive is relevant to your specific query and incorporates the appropriate background information.

2. Simplify Decision-Making with Intelligent Planning and Decision Support:

One effective use case for strategy deployment and project portfolio management processes for example is the Generative AI supported planning and decision-making.

Leverage the Generative AI capabilities to learn what you do, and how you do it to help you streamline your strategies and projects through relevant recommendations.

With the Generative AI supported planning, you can automate the process of providing additional insights, enhancing the planning experience for your employees, supporting decision-makers and boosting your productivity further.

3. Unlock Realt-time Insights with Report Automation:

Generative AI can track and analyse your data automatically, generate visually appealing reports, comprehensive performance dashboards or enter comments to specific graphs and results.

This use case for Generative AI in business process, not only unlock real-time insights in seconds, but also boost the team engagement by fostering a culture of transparency.

4. Ensure Compliance with Automatic Generation of Draft Contracts and Texts:

Reap the benefits of intelligent document automation to your management processes. Use Generative AI to draft new contracts and texts faster.

Set predefined requirements for tone, length, or language, enter the new information and let the AI generate text drafts compliant with your own business communication guidelines and historical data.

The result? Reduced manual workload translates to lower costs, time savings and increased consistency across your communications.

5. Coding Automation

An interesting Generative AI use case for your IT management process is automated coding.

Save your developers time and headaches by leveraging Generative AI capabilities of generating code snippets, translating code to different programming languages or even writing entire functions based on accurate queries.

How to Implement Generative AI Use Cases in Your Business:

To start implementing these Generative AI use cases effectively, focus on these four basic steps:

• Simplify your technology. Transition from outdated stand-alone solutions to a single, integrated bespoke software platform. This boosts efficiency and saves costs.

• Optimize your resources. Connect your existing systems in one single place. Cut unnecessary inefficencies.

• Bring your data together and enhance their quality. Integrate data from all applications and departments in one single source of truth.

• Maximize Security and Privacy. Prevent data leakages and data breaches. Take measures to protect your sensitive information. Choose a solution that runs locally and keeps your data and know-how where it belongs, under your control.

As you can see from the examples above, Generative AI offers a multitude of use cases that help you save time, efforts and resources.

“Watch and wait” is not a viable strategy in today´s fast-paced business landscape.

If you are unsure how to harness the benefits of Generative AI for your company, seek expert guidance now. At ValueMiner, our team of experts combines profound understanding of artificial intelligence and unparalleled business acumen to help solve your challenges and foster your success. We’ll collaborate to identify the most appropriate Generative AI use cases tailored specifically to your unique requirements and objectives.

You no longer have to navigate your digital transformation journey alone. Our team is here to support you every step of the way. Book a meeting with our experts today and take the first step towards revolutionizing your business operations.