Insights
The three places to invest
The three places to invest#
Assuming you’ve got the story that defines why the business needs to do this now, the questions will quickly turn to where that investment should be made, and what are the avenues to meaningful value for the business.
This is normally where we see Board and Leadership teams get overwhelmed - where “let's do AI” is firmly established, but “how to do AI” is substantially less clear, with so many products, vendors and fundamentally different types of solutions on the market (models, SaaS applications, cloud and everything else besides!).
We see three distinct categories of AI benefits (and types of solutions) across organisations:
As you’ll see below, all these applications are "AI applications" but with radically different benefit profiles and purposes. One of the key facets of your investment case will be educating leaders in the range of AI applications for the business, and how a well-constructed investment will meet multiple of these at once.
Human productivity uplift
General productivity, accuracy and colleague happiness benefit through the implementation and roll-out of a general-purpose AI assistant (e.g. ChatGPT for Enterprise or build-your-own general purpose AI chatbot).
In a recent Harvard Business School study, a group of consultants had to complete a set of tasks. Some used GPT-4, some didn’t. Consultants who used AI finished over 12% more tasks on average and completed those tasks over 20% more quickly. But, the value of meaningfully adopting ChatGPT for enterprise goes beyond productivity.
Those using AI also produced higher quality work than those who didn’t, we’ve seen the gap between the highest and lowest performers in a group reduce significantly when people utilise generative AI. In other studies participants have reported feeling less frustrated and more fulfilled in their work.
Meaningfully adopting ChatGPT can allow people to do more work, improve the quality of that work and even make people feel happier about the work they do.
Functional and Industry solutions
These solutions focus on common workflows that many similar organisations have to deal with. From Operations, HR and Finance to Fraud detection or compliance in Financial Services. For each of them, there will be a different benefit profile depending on the functional area of focus, by the nature of the workflow you’re changing.
These solutions should primarily be realised through the technology roadmap. You DO NOT need to build custom versions of these solutions to realise their value, as within the next 18-24 months the major software players will bake these into the software you already use every day: from Salesforce to SAP.
However, there are a few cases where it makes sense to build these in the near term:
- If you have a benefits case (e.g. a massive operational cost problem) that would enable significant pay-off within 18-24 months
- If this use case is the best route by which to prepare your organisation’s data to be AI-compatible, and be a foundation for other future use cases
Custom agents driving your value levers
These solutions are where you are applying AI to custom solutions that closely align with your unique value. This might mean developing the best way to use AI to create unique marketing experiences for your brand, making the best decisions for your risk underwriting in your insurance business, or even building synthetic customers to optimise your new brand campaign.
The value derived from these is unique to each company's specific value proposition, and while these are beginning to exist across the market, they tend to be a more closely guarded secret as core intellectual property and value for the organisations in question.
Tomoro works with the most ambitious business & engineering leaders to realise the AI-native future of their organisation. We deliver agent-based solutions which fit seamlessly into businesses’ workforce; from design to build to scaled deployment.
Founded by experts with global experience in delivering applied AI solutions for tier 1 financial services, telecommunications and professional services firms, Tomoro’s mission is to help pioneer the reinvention of business through deeply embedded AI agents.
Powered by our world-class applied AI R&D team, working in close alliance with Open AI, we are a team of proven leaders in turning generative AI into market-leading competitive advantage for our clients.
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We’re looking for a small number of the most ambitious clients to work with in this phase, if you think your organisation could be the right fit please get in touch.