Generative AI (GenAI) is igniting innovation like never before. Once relegated to the realm of content creation, it has now transcended its boundaries to embark on new horizons.
According to a recent industry report, the GenAI market was estimated at $14.21 billion in 2023 and is expected to grow at a CAGR of 33.8% to reach $109.3 billion by 2030.
As technology enthusiasts closely attuned to market dynamics, we have not only recognized but also validated three revolutionary use cases for GenAI. These applications are set to reshape industries and catalyze progress in ways we once could have only imagined.
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Imagine Generative AI as a versatile artist, transitioning from sketching masterpieces to orchestrating symphonies. Content creation was merely the tip of the iceberg; Bristlecone has harnessed its potential to power inventive solutions that redefine traditional practices.
1
Cleansing of Location Data
Our inaugural GenAI use case revolutionizes data cleansing for location data, mitigating common inconsistencies stemming from diverse data sources. These variations impede efficient data analysis. Tackling this manually across 100,000+ records proved impractical. In response, we harnessed OpenAI’s ChatGPT for an optimal solution. ChatGPT streamlined location name standardization. Enhancing the efficacy, we established automated mapping for forthcoming records, ensuring accuracy. Furthermore, we devised a tailored report to pinpoint and address sources accountable for erroneous data, thereby elevating our approach.
2
Multi-Document Summarization
Our innovation extends ChatGPT’s prowess from single texts to multi-document summarization to distill insights from numerous documents. This use case involves two steps: gathering key documents from varied sources and synthesizing these for strategic insights, expediting decisions.
We leveraged Sense.ai to gather data, employing large language models to meticulously summarize content into business-specific tables. This speeds up decision-making. Further, interactive prompts empower users, akin to ChatGPT interactions, extracting insights intuitively. This synergy of tech and user-centric design enhances analytics, driving actionable intelligence.
3
Supply Chain Conversational Assistant
One of the most coveted applications of GenAI lies within the realm of supply chain management, presenting an exceptional value proposition to our esteemed leaders in the field. Our current application zeroes in on logistics data, offering a tailor-made solution to address critical challenges.
In response to our client’s initiative of deploying IoT sensors throughout their supply chain, our Supply Chain Assistant emerged as a game-changer. It arms logistics managers with real-time insights, enabling them to proactively identify shipments at risk of delays, uncover the root causes behind these disruptions and assess the downstream impact on orders. Furthermore, this innovative assistant seamlessly generates outputs in alignment with specific customer formats and business protocols. With the accumulation of substantial data, it transcends to the realm of prescriptive analysis, recommending actionable strategies to navigate and mitigate complexities.
While this might appear attainable through Natural Language Processing (NLP), let’s draw an analogy to differentiate between a Generative AI assistant and an NLP-powered counterpart:
Think of your business knowledge landscape. The GenAI Assistant is like a creative chef. Just as a chef combines ingredients to invent new dishes, this assistant crafts fresh insights and solutions from data. Meanwhile, the NLP-Powered Assistant is a tour guide. It navigates existing paths, explaining and clarifying like a guide, but doesn’t create new routes like the GenAI Assistant.
These breakthroughs signify the evolution of GenAI. It’s no longer confined to generating text or images; it’s now a catalyst for growth across industries. As we move forward, we can expect to witness even more innovative GenAI applications, like smart assistants with human-like conversational abilities or AI-driven drug discovery that accelerates medical advancements.
In conclusion, Generative AI has transformed from a one-trick pony into a multi-dimensional powerhouse. By identifying and harnessing its potential, Bristlecone is at the forefront of this transformative journey. As technology enthusiasts, it’s our privilege to witness this paradigm shift, as GenAI reshapes industries and paves the way for an exhilarating future. The canvas is no longer limited; it’s expansive, vibrant and brimming with limitless possibilities.
SACHIN SHARMA
Senior Consultant
Analytics and AI
Bristlecone
