Revolutionizing Enterprises: The Transformative Power of genAI

The Rise of ChatGPT and genAI: A Game-Changing Moment for Enterprises

Artificial intelligence (AI) has been steadily integrated into various aspects of businesses, revolutionizing internal systems and customer-facing products. However, it was the emergence of Open AI’s ChatGPT a year ago that marked a significant turning point. This breakthrough in natural-language processing transformed the capabilities of AI, enabling a new level of interaction and productivity.

Before ChatGPT, AI primarily focused on machine learning, utilizing analytical AI to generate recommendations based on financial, sales, and marketing data. While valuable, this approach had limitations. It was when ChatGPT entered the scene that the potential of AI truly expanded. Suddenly, employees could engage with corporate generative AI (genAI) applications, asking in-depth client questions or seeking information about company policies and procedures.

ServiceNow, a leading enterprise software company, recognized the immense possibilities that ChatGPT and genAI presented. Chris Bedi, the company’s Chief Digital Information Officer, joined ServiceNow in 2015 when the company’s revenue stood at $800 million. Today, with the implementation of AI technologies, ServiceNow’s revenue has skyrocketed to over $8 billion, a testament to the transformative power of AI.

Implementing genAI: A New Era of Productivity

ServiceNow has embraced the potential of genAI and is currently running an internal pilot program to explore its capabilities. Leveraging their own platform and third-party Language Model Models (LLMs), the company has launched 15 genAI pilots across multiple departments, including customer service, IT, HR, and sales.

These pilots are focused on driving better customer and employee experiences, with a particular emphasis on self-service, agent productivity, automated marketing lead management, and text-to-code software development. By harnessing the power of genAI, ServiceNow aims to enhance efficiency, improve customer satisfaction, and streamline operations.

Unlocking New Possibilities: The Impact of genAI

The introduction of genAI has opened up a range of use cases for ServiceNow, both internally and externally. Let’s explore some of the key areas where genAI is making a significant impact:

1. Enhanced Customer and Employee Experiences

Improving customer support and employee self-service has long been a goal for enterprises. With genAI, ServiceNow has witnessed a remarkable 3% to 4% increase in case deflection rates on their customer support site. Similarly, employees can now easily access information about company benefits, procedures, and more, resulting in a smoother and more efficient experience.

2. Boosting Agent Productivity

genAI has proven to be a valuable tool for agents across various departments, including IT, HR, and customer support. By analyzing large sets of information and providing quick summaries, genAI enables agents to resolve cases more efficiently. Additionally, genAI can generate summaries for customer communication, with 70% of agents accepting these summaries with minimal edits. This increased productivity and streamlined workflow contribute to improved customer service and satisfaction.

3. Accelerating Digital Transformation

Text-to-code and text-to-workflow capabilities offered by genAI have revolutionized software development. ServiceNow has witnessed a 26% acceptance rate among software developers for genAI-generated code, resulting in increased productivity and efficiency. This advancement is particularly significant in an industry where software engineers are in high demand.

4. Empowering Instant Expertise

As a high-growth software company, ServiceNow aims to empower its employees to become instant experts in their respective domains. By indexing product documentation, RFP responses, sales presentations, and training materials into large language models, genAI enables new employees to quickly access valuable information. This “instant expert” capability enhances productivity and ensures a seamless onboarding experience.

Embracing the Future: The Road Ahead

ServiceNow’s implementation of genAI and the transformative impact it has had on their operations is just the beginning. As the technology continues to evolve, ServiceNow and other enterprises are navigating the challenges and opportunities that come with it.

However, the responsible and ethical use of genAI remains a top priority. ServiceNow has established an AI ethics and governance council to address concerns related to bias, cybersecurity vulnerabilities, data privacy risks, and transparency. By proactively addressing these issues, ServiceNow aims to ensure the safe and ethical deployment of genAI.

As the landscape for IT decision-makers evolves, there are varying perspectives on the adoption of genAI. Some prioritize establishing solid governance and security frameworks, while others seek a clear return on investment before fully embracing the technology. However, the consensus among many CIOs is that genAI is inevitable, and the sooner organizations adapt, the better equipped they will be to thrive in the future.

ServiceNow’s journey with genAI serves as a testament to the transformative power of AI in the enterprise landscape. With its ability to enhance productivity, improve customer experiences, and drive digital transformation, genAI represents a new era of possibilities for businesses worldwide.

The Transformative Impact of genAI: Revolutionizing Enterprises

The implementation of genAI at ServiceNow has brought about a range of transformative effects, revolutionizing the way enterprises operate and interact with their customers. The introduction of genAI has led to significant improvements in customer and employee experiences, enhanced agent productivity, accelerated digital transformation, and empowered employees to become instant experts.

Enhanced Customer and Employee Experiences

One of the most notable effects of genAI is the enhancement of customer and employee experiences. With genAI-powered solutions, ServiceNow has witnessed a remarkable 3% to 4% increase in case deflection rates on their customer support site. Customers can now receive accurate and relevant information quickly, improving their overall satisfaction. Similarly, employees can easily access information about company benefits, procedures, and more, resulting in a smoother and more efficient experience.

Boosted Agent Productivity

genAI has proven to be a valuable tool for agents across various departments, enabling them to work more efficiently and effectively. By analyzing large sets of information and providing quick summaries, genAI empowers agents to resolve cases faster and with greater accuracy. Additionally, genAI-generated summaries for customer communication have been widely accepted, with 70% of agents accepting them with minimal edits. This increased productivity and streamlined workflow contribute to improved customer service and satisfaction.

Accelerated Digital Transformation

The text-to-code and text-to-workflow capabilities offered by genAI have accelerated digital transformation within ServiceNow. Software developers have embraced genAI-generated code, resulting in a 26% acceptance rate. This acceptance translates into increased productivity and efficiency, as more lines of code can be written without the need for human intervention. This advancement is particularly significant in an industry where software engineers are in high demand.

Empowered Instant Expertise

genAI has empowered employees to become instant experts in their respective domains. By indexing product documentation, RFP responses, sales presentations, and training materials into large language models, genAI enables new employees to quickly access valuable information. This “instant expert” capability enhances productivity and ensures a seamless onboarding experience. The ability to tap into a wealth of knowledge and expertise allows employees to provide better service to customers and contribute to the company’s growth.

Embracing the Future: The Road Ahead

The effects of genAI at ServiceNow are just the beginning of a transformative journey. As the technology continues to evolve, enterprises will need to adapt and navigate the challenges and opportunities that come with it. The responsible and ethical use of genAI remains a top priority, and ServiceNow has established an AI ethics and governance council to address potential concerns and ensure the safe and transparent deployment of genAI.

As the landscape for IT decision-makers evolves, the adoption of genAI varies among organizations. Some prioritize establishing solid governance and security frameworks, while others focus on achieving a clear return on investment. However, the consensus among many CIOs is that genAI is inevitable, and organizations that embrace it sooner will be better positioned to thrive in the future.

ServiceNow’s journey with genAI serves as a testament to the transformative power of AI in the enterprise landscape. With its ability to enhance productivity, improve customer experiences, drive digital transformation, and empower employees, genAI represents a new era of possibilities for businesses worldwide.