The transformative potential of generative AI in reshaping business processes and operations is a topic of increasing attention. Proponents envision a future where AI-powered tools automate routine tasks, enhance decision-making and drive innovation across industries.
However, amidst the enthusiasm, it is crucial to look beyond the hype and critically assess the extent to which GenAI is delivering tangible results.
To find out how enterprises are actually impacted by GenAI, Workato conducted a survey, commissioned by UserEvidence, titled “Behind the AI Hype: The 2024 State of LLMs in Business Processes."
While the initial fervor surrounding AI may have subsided, the report reveals that business leaders remain optimistic about its potential to transform their organizations. Over 80% believe that GenAI is the next big wave of business transformation, and nearly 90% are actively experimenting with AI in their operations.
Again, as mentioned earlier, it is important to have a strategic approach to AI adoption, and the survey agrees. It emphasizes that while AI can deliver significant benefits (such as improved efficiency, productivity, agility and decision-making), success hinges on how organizations integrate AI into their existing business processes.
One of the key findings is that many businesses are still in the early stages of AI adoption. While a majority are using GenAI in their processes, only a small fraction considers it fully deployed. This suggests that there is still much room for growth and innovation in this area.
The report also shows the critical role of human oversight in AI-driven processes. Most respondents believe that human involvement is essential. But there is a growing recognition that AI can automate routine tasks to free up human experts to focus on more strategic and complex work.
“Business leaders and teams outside of IT are feeling the pressure to adopt AI. We’ve discovered that these leaders are not slowing down regarding AI adoption. But the how behind the strategies is crucial,” said Bhaskar Roy, Chief of AI Products and Solutions at Workato. “While it may be surprising for some to see real value in operations, organizations are leaning on AI to drive competitive advantages. There is still a lot to learn and understand in these early days of AI. The curiosity, determination, and competitive nature of business leaders will help propel organizations into the agentic economy.”
The report's findings have important implications for businesses seeking to use AI for competitive advantage. It suggests that a well-thought-out strategy, coupled with a human-centric approach, is essential for realizing the full potential of AI. By understanding the limitations and opportunities of AI, businesses can avoid the pitfalls of overhyped technologies and focus on delivering real value to their customers.
“More than a year into the AI boom, we are still seeing organizations experimenting with AI tactically or opportunistically versus developing an enterprise-wide strategy,” said Massimo Pezzini, Head of Research, Future of the Enterprise at Workato. “Without this strategy, organizations will not see the meaningful results we can expect.”
With that said, as AI continues to evolve, it is clear that the hype surrounding it is gradually giving way to a more nuanced understanding of its capabilities and limitations.
Be part of the discussion about the latest trends and developments in the Generative AI space at Generative AI Expo, taking place February 11-13, 2025, in Fort Lauderdale, Florida. Generative AI Expo discusses the evolution of GenAI and feature conversations focused on the potential for GenAI across industries and how the technology is already being used to create new opportunities for businesses to improve operations, enhance customer experiences, and create new growth opportunities.
