Business Reporter: The direct and indirect benefits of deploying generative AI

UpperEdge Reveals Generative AI’s Unseen Potential for IT Leaders

LONDON, UNITED KINGDOM, October 11, 2024 /EINPresswire.com/ -- As generative AI reshapes industries, many are overlooking the hidden value streams it brings. In a thought-provoking article published on Business Reporter, John Belden, Chief of Strategy and Research at IT Sourcing Advisory Firm UpperEdge, highlights how IT leaders can harness not just direct gains like productivity but also indirect benefits through reduced vendor costs, smarter project portfolios, and strengthened supplier relationships.

Belden argues that suppliers of generative AI solutions should adopt a collaborative approach and pass some of the added value they gain from the new technology on to their clients. Vendors themselves often benefit from higher productivity and lower costs when they become “client one” to their own genAI products. Belden points out that vendors shouldn’t keep the savings achieved via the use of genAI all to themselves as, by selling these products, they are also offloading risks to their clients. As LLMs are by nature not explainable models, it’s impossible to predict with certainty what decision they will make. Therefore, businesses who deploy these systems often risk being held accountable for biased decisions, hallucinations – inaccurate or fabricated output – or for leaking corporate secrets or personally identifiable data.

But for clients, it’s not only cheaper services that can derive indirectly from generative AI deployments, but also new opportunities to run projects that didn’t seem viable without the technology. Schemes that were previously sidelined thanks to their low ROIs can be given a new lease of life as generative AI achieves better efficiencies. Finally, to harvest the value of genAI, organizations can also use it to strengthen relationships with their suppliers and make a case for a closer, collaborative relationship that goes beyond competitive pricing.

To learn about how your organization can extract value from your suppliers’ use of genAI, read the article.

About Business Reporter

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About UpperEdge

UpperEdge provides organizations with relevant market and supplier intelligence, tailored sourcing and negotiation strategies, and precise execution methodologies to generate more value from IT investments, assets, and relationships. Augmenting and complementing IT and business-driven teams, UpperEdge clarifies the IT sourcing process, empowering clients to negotiate with confidence and optimize their IT relationships.

https://upperedge.com/

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