Video transcript: GenAI - Taking a strategic approach to value

Transcript

Colin Light: This is unlike any other technology in the business marketplace we've seen to date.

Joey Jegerajan: Every single conversation I have with clients involves generative AI.

Mary Shelton Rose: How are they going to implement this technology in a way that is responsible and safe. But also that allows them to figure out how to capture the most strategic value.

Colin: It's our job to help the clients navigate that, through what are the sources of value and then what are the right tools to get after that value.

Mary: Every industry, every workforce has an opportunity to take advantage of GenAI.

Colin: We have already done the analysis on where do we think the sources of value across different industries are all the way from front to back office.

Mary: So if you are coding software, if you are creating marketing campaigns, if you are creating media content, those are industries where the capabilities already exist.

Colin: We'll definitely see productivity gains. There's no question around that.

Joey: One of the most popular use cases at the moment that organisations are using is how you can leverage a technology to drive efficiency in documentation analysis.

Sandeep Agrawal: Imagine any PE firm which is acquiring a company. They have to go into a virtual data room and analyse huge amounts of data of a target company. We are using generative AI at the moment to go into a virtual data room and integrate generative AI with that and just analyse all of that data and produce results faster. We have saved 10,000 hours of output in producing results.

Colin: You can be getting 30% to 40% productivity gain out of some of the more formulaic parts of the work that we do. That is going to be up to 80% or 90% productivity gains for some of our clients depending on the use case.

Mary: You will always need a human in the middle to look at what the technology is producing.

Colin: I think the key around generative AI is it is a business model and an operating model problem. That requires all of the multi-disciplinary capabilities of someone like PwC.

Joey: What we bring at PwC is not only the technology strength that we have, and we have delivery ecosystems all around the world that bring that technology skill set, but we also really know industries. We really know functions.

Mary: But the magic is when you put the industry expertise and the technology together.