GenAI and B2B Professional Services: Beyond the Hype
Vecteris recently convened a group of ten B2B professional services executives to explore the impact of Generative AI (Gen AI) on their businesses.
These leaders discussed how Gen AI is affecting their products, operations, and customer outreach. Rather than speculating about the future, each participant shared practical insights about their ongoing efforts and challenges, offering a grounded view of their organizations' journey in response to evolving customer needs.
From the discussion, three key themes emerged, reshaping traditional perspectives and emphasizing the pivotal role of human influence in shaping the AI landscape.
1. A "Human Led" AI Approach is Prevalent: A noteworthy revelation was the widespread interest in equipping employees with skills that complement AI, adding value to their work. Contrary to media portrayals of either "AI replacing jobs" or "AI-trained individuals replacing workers," participants advocated for a "human-led" AI approach. In this scenario, AI enhances human capabilities, with the critical decision-making still in human hands. Many executives faced growth challenges due to difficulties in finding suitable hires, hampering their capacity to meet customer demands and scale. These leaders aimed to enhance existing roles and capabilities through training, fostering productivity growth.
2. Customer Expectations are Shifting: Gen AI's transformative impact extends to customer expectations, inducing two key shifts. First, there's a heightened demand for quicker responses and superior quality by leveraging AI capabilities. For example, customers now anticipate swift turnarounds from writers. Second, intriguing cultural variations were uncovered, as some cultures embrace AI experimentation with fewer regulations while others exercise caution. Remarkably, regulatory frameworks lag behind cultural shifts, underscoring the need for alignment.
3. The Reality: Gen AI is New for Everyone: Executives at the round table shared insights into their engagement with tech vendors as they integrate Gen AI into their organizations. Surprisingly, they found that tech companies and AI vendors aren't as advanced as expected. The Gen AI adoption journey is still in its early stages, particularly in the context of innovation and new product development. While AI integration into existing tools is progressing rapidly, the real challenge lies in pioneering novel AI applications, rooted in a deep understanding of customer needs. Gen AI tech companies are still navigating how to tailor AI to specific use cases, emphasizing the pivotal role of high-quality data inputs for meaningful insights.
Amid the din of AI discourse, one message emerged strongly from these B2B executives: AI's potential is vast and attainable. Rather than feeling overwhelmed, they encourage their peers to embrace AI integration confidently. The essence of humanity remains central, even amidst technological evolution. Nurturing employees, customers, and mutual care drive the AI journey, ensuring an AI-augmented future that preserves the human touch.
In a world where AI advancements reshape industries, the collective wisdom of these B2B executives forms a roadmap for navigating the terrain of Generative AI. Success lies in treating AI as a tool that amplifies human capabilities and value, steering the future of B2B professional services.
(Yes, I used ChatGPT to help write this post).
Vecteris hosts executive round tables quarterly, discussing topics of interest to B2B Executives. To join these discussions, please reach out.