Sylvain Duranton is the Global Leader of BCG X and a member of BCG’s Executive Committee. BCG X is the tech build & design unit of BCG. Turbocharging BCG’s deep industry and functional expertise, BCG X brings together advanced tech knowledge and ambitious entrepreneurship to help organizations enable innovation at scale.
Everyone is talking about it, but more importantly, everyone is using it! Beyond the buzz and prophetic speeches heard endlessly at Davos, the Consumer Electronics Show in Las Vegas, and other technology watering holes, Generative AI is percolating through companies in 2024.
As AI becomes more capable, it will take over more complex tasks traditionally performed by humans. But its more immediate and widespread impact is to save time. This represents a fantastic resource. Yet few companies have figured out how to use this excess sail on the ship. Currently, employees use the time at their discretion.
‘Strap In’—Fed Suddenly Braced For A U.S. Dollar ‘Crisis’ That’s Predicted To Spark ‘Total Collapse’ And A ‘Critical’ Bitcoin Price ‘Tipping Point’Viral ‘Chase Bank Glitch’ Isn’t The Hack People Thought It Was In manufacturing, GenAI can optimize product designs and generate technical documentation, reducing design time by as much as 50%. GenAI's ability to draft initial medical reports and suggest personalized treatment plans can save doctors valuable time, expanding the number of patients they care for. In the financial sector, GenAI can generate diverse economic scenarios for improved risk management. And GenAI's capacity to generate computer code means more software development.
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