KPMG's 2023 Survey: Gen AI as game changing tech

PLUS: McKinsey's AI chatbot 'Lilli' and AWS Gen AI Day

Author

Shubhangi Mittal
August 18, 2023

KPMG’s 2023 survey reveals marketing & sales to be the focus area for implementing gen AI solutions for a majority of senior executives in the US.

The opportunity is now.

IN THIS ISSUE

  • KPMG's 2023 Survey: Gen AI as game-changing tech

  • If McKinsey has it written, Lilli can find it and cite it

  • From the AI community

  • Event Calendar: AWS Gen AI Day, Sep 13 (New)

  • Growth Corner: Google’s Generative AI Learning Path

  • Tech Spotlight: WriteSonic

TOP PICKS

“First-mover organizations that swiftly implemented generative AI are already realizing significant business value and anticipate additional opportunities across front, middle, and back-office functions.”

Of the 200 senior US business leaders surveyed, nearly 194 named generative AI as a transformational, disruptive, top emerging tech with a lasting impact on their business.

All this within the next 1.5 years. Other technologies considered were 5G & Augmented Reality.

  • Uncertainty about the regulatory environment is the top barrier to implementing generative AI.

  • Business leaders anticipate the most regulatory action to be around data privacy, security, and transparency.

  • A large majority anticipate an increase in generative AI investment by more than 50 per cent within one year.

  • Marketing and sales is the most common area of focus for generative AI investment.

  • To build and maintain stakeholder trust, prioritizing effective risk management has increased across the board.

    Top priorities are protecting personal data and privacy concerns, cybersecurity and responsibility of data input and AI-generated content output.

Access the full report here.

‘Lilli’, image created using Midjourney

McKinsey’s Lilli: AI Chatbot as an intranet

If McKinsey has it written, Lilli can find it and cite it

“If you could ask the totality of McKinsey’s knowledge a question, and [an AI] could answer back, what would that do for the company? That’s exactly what Lilli is,”.

Lilli has already been in use by approximately 7,000 employees as a “minimum viable product” (MVP) and has already cut down the time spent on research and planning work from weeks to hours, and in other cases, hours to minutes.

Sixty six percent of users are returning to it multiple times per week.

The interface includes two tabs that a user may toggle between, one, “GenAI Chat” that sources data from a more generalized large language model (LLM) backend, and another, “Client Capabilities” that sources responses from McKinsey’s corpus of 100,000-plus documents, transcripts and presentations.

Lilli provides a whole separate “Sources” section below every single response, along with links and even page numbers to specific pages from which the model drew its response.

McKinsey is prioritising quality of information over speed.

FROM THE AI COMMUNITY

EVENT CALENDAR

1. AI Content Detection Tools – Myth vs Reality, August 23, Online

2. AI Marketing Virtual Summit, August 24, Online  

4. AWS Gen AI Day, September 13, Online

If you know of any AI event happening in the next 4 weeks and would like to feature it here, let me know by replying to this email.

GROWTH CORNER

Generative AI Learning Path, Google Cloud Skills Boost

This learning path covers:

  • Introduction to Gen AI

  • Introduction to LLMs

  • Introduction to Responsible AI

  • Gen AI Fundamentals

  • Introduction to Image Generation

  • Encoder-Decoder Architecture: Overview

  • Attention Mechanism: Overview

  • Transformer Models and BERT Model: Overview

  • Create Image Captioning Models

  • Introduction to Generative AI Studio

Get your certification. Gmail sign-in is required.

TECH SPOTLIGHT

WriteSonic

WriteSonic helps marketers write social copies, articles, blog posts, summaries, ads, emails, reports, landing pages and everything else that we need to write.

They offer 10,000 words/month in their free offer which is competitive compared to other similar players. You are able to choose the tone for the content and even the number of variations in the first go.

If you want to sign up for the AI in Marketing newsletter, simply let me know your email id over here.

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Stay curious about AI in Marketing,

Shubhangi