Generative AI

Strategic Outcomes of Generative AI on BPM

Generative AI can revolutionize Business Process Management (BPM) by improving customer experiences and optimizing business processes. Gen AI models analyze vast data sets to predict future needs and suggest efficient staffing, equipment, and material deployment. Ultimately, generative AI can transform BPM into a strategic driver, boosting overall business performance.

Podcast Audio Transcript

Mimi: Hello listeners, this is Mimi; thank you for tuning in to yet another exciting and informative podcast from us at Infosys BPM. Today, we are discussing the strategic outcomes of generative AI on BPM. And to talk about this, we have here with us, Santosh Unni, AVP & Group Practice Engagement Manager – Infosys BPM. Welcome Santosh. How are you doing today?

Santosh: I’m doing well, Mimi. Thanks for inviting me to this podcast. How are you?

Mimi: I’m doing great Santosh. Yes, we have been seeing quite a few leaders sharing their viewpoints through our talks.
Coming to the area of generative AI, applications like ChatGPT have managed to make quite a splash, haven’t they? So, when it comes to business process management industry, how are these applications being used?

Santosh: Absolutely Mimi! Generative AI has been a ground-breaking revelation indeed. Let's dive deeper into how generative AI is shaking things up in the BPM world. Imagine this: Customers no longer have to wait to get resolution from human agents; a natural language processing (NLP) powered AI assistant instantly understands their queries and provides an accurate response. That's the kind of magic generative AI brings. Studies show that by automating these simple inquiries, businesses can deflect up to 80% of calls, freeing up human agents for more complex issues.
But it gets even better. Generative AI can also analyze mountains of customer data and churn out insightful summaries, helping you understand customer needs and preferences on a whole new level. Think of it as having a super-powered customer service rep who can read through thousands of reviews in seconds and tell you exactly what your customers are raving about.
This translates to happier customers and a lighter workload for your employees. It's a win-win!

Mimi: Wow! 80% of the calls can be handled by an AI assistant? That’s impressive.
Beyond operational efficiency, what strategic outcomes can BPM companies achieve by integrating generative AI into their business processes?

Santosh: That question is important, Mimi.
In the competitive BPM industry of today, generative AI presents a golden opportunity for companies to truly stand out. By leveraging it, BPM providers can craft a service portfolio of innovative and cutting-edge solutions.
Beyond efficiency, generative AI is a catalyst for groundbreaking advancements. Imagine empowering your team to unlock new levels of creativity, fostering a culture where human ingenuity is amplified by analytical, generative, and optimization abilities of AI.
As you can imagine, this is a potent combination that unlocks entirely new avenues for growth and development. It will provide ground-breaking competitive advantage to organizations.

Mimi: Exactly, Santosh. We see situations like data breach involving AI systems being much more expensive to organizations.
In such cases, my question is what considerations should companies keep in mind when implementing generative AI technologies?

Santosh: Implementing generative AI can be exciting, but there are a few things to keep on your radar.

  • First of all, data is extremely important. Companies need to be super careful about data privacy, security, and compliance. Think about where your data comes from, how it's stored, and who has access to it. There are a lot of regulations around data these days, so make sure your AI is playing by the rules.
  • Secondly, AI models can inherit biases from training data. Be mindful of potential biases and take steps to mitigate them, like using diverse datasets or implementing fairness checks during training.
  • Also, it’s important to strive for explainability in how the AI arrives at its outputs, especially for critical applications where human oversight is crucial for reviewing and approving results.
  • Another key factor is the cost and availability of significant computing power needed for training and running generative AI models before implementation.
  • You should also conduct a real-world impact assessment. Think through who will use it, the potential benefits and risks, and the ethical implications of its real-world deployment.
Mimi: Yes I agree. Lots of things are still being ironed out.
How do AI regulatory acts like the EU AI Act and the US AI Act influence the pace and direction of AI and Gen AI technology development and adoption by businesses, particularly in industries like BPM?

Santosh: Regulatory acts play a crucial role in shaping the development and implementation of AI technologies. To prepare for compliance, businesses should stay informed about the latest updates, allocate resources for compliance, and plan for regulatory divergence.

Mimi: So, it’s understandably as complex as regulations in the human world.
So, it’s understandably as complex as regulations in the human world. In the light of all these developments, could you touch upon specific aspects of the future of generative AI, like ROI, strategies, and benefits?

Santosh: Yes that’s correct Mimi. Regarding the future of Gen AI and its role specifically in the BPM space, let me mention some aspects:
  • First of all, as generative AI continues to advance, it is expected to become even more integrated into BPM processes, leading to increased efficiency, cost savings, and improved customer experiences.
  • Generative AI has the potential to deliver significant returns by improving operational efficiency, and enhancing customer service, leading to increased revenues.
  • However, you should know that identifying the most impactful use-cases involves understanding the company's business processes and pain points. A data-driven approach is what I would recommend.
  • Companies should clearly define their business needs and objectives, assess the capabilities of different solutions, and evaluate the track record of the potential implementation partner.
  • Generative AI can improve decision-making processes by providing valuable insights, predicting future trends, and supporting real-time decision-making.
  • Despite such huge benefits, I would recommend that companies should establish clear guidelines and standards for AI use, ensure transparency in AI decision-making, and regularly audit their AI systems for any biases or ethical issues.
  • Companies need to educate their employees about the benefits and potential of AI, provide opportunities for employees to learn and grow with AI, and encourage experimentation and innovation with AI.
Mimi: Santosh, yes, I can clearly see the importance of Gen AI and how we should approach it with clarity and growth-focused mindset.
Thank you so much for your inputs in today’s podcast. I am sure our listeners enjoyed today’s talk.

Santosh: Thank you, Mimi. It was a pleasure to be part of this podcast today.

Mimi: Dear listeners, if you enjoyed our podcast today, please don’t forget to subscribe to it on the platform of your choice; our podcasts are available on Apple Podcasts, Google Podcasts, Spotify, and several others. Please don’t forget to share and like it on social media.
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Once again, thank you for tuning in, stay safe and sharp. This is Mimi signing off. Have a great day!