AI

Grammarly released results of a new study

Early adopters of generative AI are saving time, increasing revenue, and improving their customer and employee experience—but short-sighted deployments can open up risks

Grammarly, the company delivering AI communication assistance to over 50,000 teams and 30 million people daily, today released research conducted by Forrester Consulting that reveals most companies still don’t have a clear strategy to deploy generative AI within their organizations at scale. The study, “Maximizing Business Potential with Generative AI: The Path to Transformation,” commissioned by Grammarly Business, shows that despite recognizing the business benefits, companies are taking a haphazard approach to addressing generative AI—opening them up to security risks and putting them at a competitive disadvantage.

Businesses are rushing to deploy generative AI to drive transformation. The study finds organizations are turning to the technology to address challenges like improving writing quality (47%), increasing revenue (46%), and speeding up execution (42%)—and 43% are moving more quickly than in the past with other innovations. Still, companies lag behind employees on adoption, and only 45% have an enterprise-wide strategy to ensure secure, aligned deployment across the entire organization. That leaves them vulnerable to security threats and technical consolidation challenges from disjointed and ungoverned use of generative AI—putting their business, customers, and employees at risk and jeopardizing their ability to realize the technology’s benefits down the line.

“If you’re a business leader, adopting generative AI is not optional—your teams and competitors already are,” said Matt Rosenberg, Grammarly’s Chief Revenue Officer and Head of Grammarly Business. “Those who fail to recognize or underestimate the value of the technology will fall behind, but businesses need to know how to operationalize it at scale. Carefully executing a company-wide strategy with holistic solutions is essential to achieve transformation through generative AI—and avoid long-term risks.”

The study of 301 technology decision-makers in North America and the UK underscores that businesses deploying the technology early and with a wall-to-wall strategy will gain a competitive edge. Additional findings include:

  • Generative AI is a critical or important priority for 89% of respondents’ companies, and by 2025, nearly all (97%) will be using the technology to support communication.
  • 74% of respondents using generative AI say it’s already improving their ability to increase revenue, and the average daily time savings from generative AI is 33%—the equivalent of 2.5 hours every workday or 13 hours each workweek.
  • Companies’ top concern with not using generative AI is falling behind competitors (35%)—but hurdles like security concerns (32%), lack of a cohesive AI strategy (30%), and lack of internal policies to govern generative AI (27%) prevent adoption.

Holdouts, beware—generative AI is inevitable and already delivering business impact: The findings reinforce that generative AI will change how work gets done: 62% of respondents expect it to transform workflows across their entire company within a year. And it’s not just saving time and increasing revenue—those who’ve adopted the technology say it’s already having a transformational or large impact on their ability to increase customer satisfaction (77%), enhance the employee experience (79%), reduce operational costs (75%), and improve privacy compliance (77%) and data security (73%).

Rampant ungoverned use of generative AI creates long-term challenges if companies don’t catch up: While companies are moving fast on deployment, employees are moving faster: 39% of respondents are already using generative AI for all of their writing and editing at work, but 80% of those say their company hasn’t yet adopted generative AI. Most sales, marketing, HR, and customer support leaders consider generative AI a “critical” priority, and 72% report different departments are leveraging it on their own without an organization-wide strategy.

Data security is critical—but companies don’t know how to approach it: The study suggests a pressing need to build better privacy and security practices and literacy around generative AI. Respondents cited enterprise data security as both the most critical criterion in their investments and the top technical challenge to adoption. Yet, 64% of respondents’ companies don’t know how to evaluate the security of potential generative AI partners.

Companies must act now with a coordinated, scalable strategy to realize generative AI’s transformative value: Especially with how quickly employees are moving, companies cannot afford to wait on adopting a comprehensive approach to generative AI if they want to avoid falling behind.Respondents say their companies need a solution that can be used across their organization (90%) and that understands the context of many different scenarios (89%). Companies with holistic strategies are 1.4 times more likely to be accelerating generative AI adoption than those using it at the departmental level. They’re also 1.5 times more likely to say they’re deploying faster than competitors.

For more insights on the state and future of generative AI in the enterprise, download the full commissioned study conducted by Forrester Consulting on behalf of Grammarly Business: “Maximizing Business Potential with Generative AI: The Path to Transformation.”

To learn more about Grammarly Business and how its enterprise-ready AI drives organizational transformation, visit grammarly.com/business.

Methodology:

Forrester conducted an online survey of 301 respondents across multiple industries, excluding government, education, and nonprofits. Survey participants included director+ technology purchasing decision-makers at organizations in North America and the UK in customer support, IT, HR, marketing, or sales roles. Respondents were offered a small incentive as a thank-you for the time spent on the survey. The study began in March 2023 and was completed in July 2023.

Visit AITechPark for cutting-edge Tech Trends around AI, ML, Cybersecurity, along with AITech News, and timely updates from industry professionals!

Related posts

Israel’s AI Week Showcases Trailblazers & Exciting Future in AI

PR Newswire

Medtronic AccuRhythm AI tech wins 2023 MedTech Breakthrough Award

PR Newswire

Ordaōs Selected to Participate in AWS Generative AI Accelerator

PR Newswire