Saxon AI

  According to  McKinsey’s prediction , generative AI could contribute somewhere between USD 2.6 trillion and 4.4 trillion annually to the global economy by 2040. The potential impact is particularly significant in banking, retail, consumer-packaged goods, pharmaceuticals, and medical products. That apart, McKinsey’s predictions also indicate that many key business functions, such as software engineering, customer operations, research and development, marketing, and sales, will account for  75% of the total annual value  that generative AI can bring. Therefore, generative AI is a versatile tool across sectors and business functions, revolutionizing business. Hence, enterprises aiming to ride the wave of this technology revolution should invest in generative AI and prepare their workforce for the imminent transformation. Transforming business operations So, how is generative AI transforming business operations? It is doing so by truly bringing about unparalleled innov...

  Your upcoming workforce is Gen Z. Their views on work and the workplace are different from those of your existing workforce. They prioritize employee experience and job satisfaction more than compensation. They don’t hesitate to switch jobs if they do not feel valued and see growth opportunities. If you are not preparing your workplace for Gen Z, you are embarking on a bumpy ride. Generative AI, a new wave in the technology world, promises to help you dodge the workplace challenges rushing towards your business. Breaking down Gen Z and employee experience It is important to understand what Gen Z expects at the workplace. Most employers think that money is the only motivation for employees. But this is not applicable for all workplaces and workforces. Let’s dig deeper into this matter.  McKinsey  did a study on employee preferences based on age groups. As one would think, inadequate compensation is the top reason for leaving a job for most of the existing workforces, tha...

  Generative AI   is widely accepted by users across the world. As gen AI evolves, we are exploring the business use cases for gen AI in various industries. Human resources management (HRM) is a key part of any business. Like any other operations, HR operations also involve mundane, repetitive tasks, keeping HR people occupied. Should these tasks be automated, HR teams can focus more on enhancing company culture and employee experience, which will translate into productivity gains and profits. Toward that objective, let’s explore how to leverage generative AI in talent management and how it will transform the people teams.  Five ways generative AI in HRM will transform business   Expedite talent acquisition and hire the best Talent acquisition is instrumental in building an organization’s workforce. The recruitment process starts with drafting the job description. And this is where challenges to recruiters start, too. Recruiters spend at least two hours writing a job...

  What can you do with generative AI? You can solve math problems, create images, write stories, and whatnot. All with a short description in your own natural language. For individuals who want to learn and create, there are endless ways to use this artificial intelligence technology. What about enterprises? Previously, we have discussed how businesses can use  Generative AI in Cognitive Search . Today, let’s discuss how technology empowers intelligent document processing (IDP). Generative AI + IDP Unstructured data is a big challenge for businesses across industries. For example, the insurance industry handles a significant amount of unstructured data, comprising about  80% of the total . Insurance firms currently utilize less than 3% of this data for decision-making, which is alarming considering the industry’s size. Generative AI-powered Intelligent document processing offers a solution by efficiently processing unstructured data, resulting in improved customer satisfa...

  Microsoft has integrated ChatGPT with Bing for an enhanced search experience. Can you also build a ChatGPT-like search engine for your business so your employees can interact with your data? Yes, you can, by integrating enterprise-grade   generative AI   with cognitive search. Before exploring how, for the uninitiated, let’s discuss cognitive search and the challenges it solves for businesses What is cognitive search? Enterprise data is vast. Studies estimated enterprise data to be  over two petabytes in 2022 , with an average annual growth of 42 percent. This data is historical and real-time, coming from consumers, employees, and machines. It is structured and unstructured, across systems located in the cloud or on-premises. Enterprises are producing more and more data. Data sitting idly in the servers doesn’t serve its purpose. Data must be accessible for you at the right time. However, traditional search mechanisms fall flat here. They face several challenges in...