INSIGHTS REPORT

A Guide To Unlock
Business Value
From
Generative AI
The transformative power of
Generative AI (Gen AI) is ready
to disrupt business.
Organisations aim to create
Gen AI use cases, to fully
leverage its potential for their 12 Greek Business Leaders
contemplate the future of
operations. But is Gen AI ready
Generative AI, in Qualco
to bring tangible business Group’s Innovation Hub first
benefits today? Think Tank.
 INSIGHTS REPORT

1. How can Gen AI The 4 Axes of Gen AI Applications in Business

be utilised today? CUSTOMER

OPERATIONS
MARKETING
AND SALES
Examples: Chatbots for Examples: Content Creation
The diverse applications of AI are internal use, IT Service for Marketing, Automated
transforming business practices and Management, Employee Social Media Responses,
decision-making processes, from the Onboarding, Virtual Dynamic Pricing, Sales
automation of routine tasks to the Customer Assistants, Forecasting, Predictive
provision of insightful data analysis. Automated Customer Lead Scoring.
Many organisations are still in the early Feedback Analysis,
stages of exploring Gen AI across Intelligent Ticketing
various use cases. Systems.

COMMON USE CASES

Organisations need to explore and Gen AI
identify use cases for AI and
understand how its adoption will RESEARCH & CODE
change their dynamic.
DEVELOPMENT DEVELOPMENT
Examples: Examples: Digital
INFO Optimisation/Exploration Assistants to unify
of raw material sources, content from various
The primary obstacle to Predictive Maintenance,
Implementation of Digital
databases, Log Predictions,
Automated Code Reviews,
adopting AI in companies Twins, Environmental Impact Bug Prediction and Fixing,
Analysis, Drug Discovery and Optimisation of Development
worldwide is the challenge of Development, Experimentation Processes.
identifying suitable use cases. with new products/services
based on market trends.
Source: O'Reilly Survey, November 2023

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KEY IMPACT DIFFERENCES BY TYPE OF USE

A PEOPLE-CENTRIC APPLICATION
Gen AI plays a vital role in transforming the CORE SOLUTIONS SUPPLEMENTARY ROLE
user experience. Its unique capabilities
include personalising experiences, Strategic Tactical
predicting needs, and optimising journeys, Approach Type Forming the core of business Offering additional benefits
regardless of the user - employee or operations or strategy to existing processes
customer. These contributions improve daily
experiences, increase engagement and
develop strong customer relationships, High Beneficial
delivering superior customer value. Dependency
Absence could disrupt operations Not critical to business continuity

BUSINESS IMPACT PERSPECTIVE

There are questions about the business ROI & Investment Direct ROI Indirect ROI
impact of AI innovations, distinguishing Prioritisation Impact on the core business metrics Long term planning
between those acting as core solutions and
those playing a supplementary role.
Recognising this distinction helps
businesses prioritise their AI initiatives, Innovation & Source of major innovation Incremental improvements
allocate resources effectively, and maximise Competitive Edge Key competitive differentiator Efficiency gains
the benefits of these advanced
technologies.
Examples: core business automation, data-driven Examples: marketing & sales optimisation,
decision-making, customer service automation, HR management, product development support,
risk assessment and management operational efficiency

INSIGHT

At the moment, Gen AI is playing a more supplementary role in companies,

but that will change as companies move out of the exploration phase.

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 INSIGHTS REPORT

A SIMPLE ROADMAP Incentivise Train and upskill

Gen AI users.
FOR SUCCESSFUL Ensure the
GEN AI INTEGRATION application is
user-friendly and

2
straightforward to
navigate.

Demonstrate its
value and highlight
initial achievements.

Align
1
Ensure the top-level
management shares
the vision.

Organise
cross-functional
teams and
departments to join
Scale Streamline your
data.

3
the Gen AI task Train and
force. fine-tune your
Gen AI model to
Recruit the meet the needs
necessary talent. of your business.

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2. Incentivising the adoption of

Gen AI tools Successful strategies include prioritisation, leveraging speed as a
strategic asset, and embracing an asset-based approach to deployment.

STRATEGIC DEPLOYMENT ASSET-BASED ADOPTION BUILDING TRUST

Top executives and C-level leaders play By adopting an asset-based approach and To establish trust, it's essential to prioritise early
a crucial role in helping organisations leveraging existing resources, the deployment wins. Companies should choose applications
thrive in Gen AI. By aligning leaders with process can be expedited, creating a more that offer clear benefits rather than following
a business-focused plan, building a efficient path to integrating Gen AI. trends. Selecting applications aligned with
skilled workforce, adopting a flexible organisational goals creates a positive story,
operating model, leveraging technology FAST REFLEXES building confidence among stakeholders and
for rapid innovation, integrating data The "move fast and break things" strategy might paving the way for broader Gen AI integration.
across all aspects, and expanding not always be suitable for business applications.
adoption and scaling, companies can However, testing multiple scenarios DEDICATED AI TEAM
strategically position themselves to simultaneously can be beneficial when A team specialising in deploying Gen AI tools can
succeed in the current digital and integrating Gen AI. Even if some fail, certain lead the way in exploring applications across
AI-driven environment. components may be successfully reused in other different parts of the organisation. Whether it's
projects. improving security, streamlining software
processes, or developing chatbots for both
CREATING VALUE internal and external use, this focused AI team
Utilising Gen AI extends beyond identifying its should be the key to unlock the full potential of
INSIGHT capabilities. It involves ensuring that the Gen AI in a company.
outcomes are reusable and scalable. This is
particularly crucial in specific domains where the
Speed is a key concept effects are evident and align with the company’s
when applying Gen AI objectives. The generated value incentivises
users to adopt Gen AI and remain engaged in the
in business. long run.

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Fast pruning is essential: try many alternatives, and then decide which ones to continue building.
Haris Michailidis, QuantumBlack, AI by McKinsey

Riding the Generative AI wave is one thing; selecting the appropriate enterprise applications is
another. For organisations aiming to leverage general-purpose or industry-tailored Large
Language Models (LLM), assessing their data readiness and industry-specific needs is important.
Speed is a crucial success factor for Generative AI; at the same time, taking a step back to reflect
on security priorities and expectations about LLM accuracy can be the “unexpected” Gen AI
catalyst every enterprise needs.
Alexandros Karvouniaris, Chief Technology Officer, Synthetica

Like most new technologies, Gen AI stands out for its potential to disrupt business models and
upheave operations. Unlike most new technologies, Gen AI and, more specifically, LLMs can live
up to that expectation. So far, at scale, use case deployment has showcased savings and an
upside of over 20% vs the relevant base figures. In Gen AI’s case, the early bird (and its ability to
get the worm) analogy seems to be the most applicable, also in line with LLM's light-speed
developments. Companies that harness Gen AI / LLM capability in the short term will stand the
best chance of capturing substantial ROI.
John Gikopoulos, Chief Innovation Officer & Head of Applied Intelligence, Qualco Group

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 INSIGHTS REPORT

ESTABLISHING
AN AI CENTRE Improves Facilitates
OF EXCELLENCE communication
with stakeholders
collaboration with
external partners,
(COE) by providing a
singular and
fostering access
to international
consistent vision expertise and
An AI Centre of Excellence for Gen AI within investment
is an in-house team of the company. opportunities.
skilled individuals
responsible for leading and
implementing AI strategies
throughout the entire AI Centralised
Unified
Standardised External Ongoing

CoE
organisation. Establishing a KEY BENEFITS Coordination Development Relationship Monitoring
Vision
CoE reflects the Hub Framework Management of ROI
organisation's commitment
to integrating AI into all its
operations.
Acts as a central Supports the Defines metrics and
hub to streamline growth of Gen AI KPIs, prioritises
Gen AI efforts projects by projects based on their
throughout the creating an potential ROI mitigating
organisation by organised potential risks, and
serving as a focal development drafts reports on
point for framework. progress, keeping
coordination. stakeholders aligned.

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3. Optimising for maximum efficiency

Training and optimising Gen AI to address OPTIMISING OPERATIONS
specific business needs brings real value, AND REDUCING COSTS
enhancing performance, cutting costs, Optimal efficiency in Gen AI translates to
providing a competitive edge, and supporting lower computational and operational costs.
better decision-making. Efficient models require less processing
power and time to perform tasks, leading to
ENHANCED PERFORMANCE savings on cloud computing resources and
By customising LLMs (Large Language hardware.
Models) for specific purposes, businesses
can enhance accuracy and relevance in tasks FAST ITERATION
like customer service, content creation, and A faster time-to-market is essential for
data analysis. This results in improved user success in industries where speed and agility
experiences and more efficient business are vital. By utilising optimised Generative AI,
processes. businesses can speed up the creation and
launch of products and services driven by it.
DATA-DRIVEN DECISIONS A prime example is marketing, where Gen AI
By optimising Gen AI models, large datasets can transform the content creation and
can be analysed more effectively, providing ideation process.
businesses with valuable insights for
data-driven decision-making. This can lead IMPROVED CUSTOMER INSIGHTS
to more informed strategies and better Optimised Gen AI for specific industries or
business outcomes. customer segments can provide deeper,
HUMAN-MACHINE COLLABORATION more accurate insights into customer
SCALABILITY Smart LLMs automate routine tasks, giving behaviour and preferences, aiding in
Efficient Gen AI tools are easier to scale. As a employees more time for complex and marketing, product development, and
business grows or its data needs change, a creative work. This boosts productivity and strategic planning.
well-optimised model can adapt more easily encourages employees to actively use Gen
and handle increased workloads without a AI, contributing significantly to model
proportional increase in cost. training.

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4. Quick gains and long-term value

Gen AI could change how we work in RISK MANAGEMENT AND PREDICTION HOW DO BUSINESSES BENEFIT FROM AI?
different industries, impacting various tasks. Gen AI quickly analyses risk, providing fast 2,857 respondents of an O'Reilly survey
Understanding its power and working assessments for sectors like finance and indicated where they expect the most
together across industries is essential for healthcare. Rapid risk management ensures benefits from the use of Gen AI.
adapting to these changes. enduring security.

VERSATILITY AND ADAPTABILITY INCREASED EFFICIENCY AND PRODUCTIVITY

Gen AI's immediate impact lies in swiftly Generative AI rapidly automates tasks,
handling diverse tasks. Quick operational instantly enhancing efficiency and enabling
agility ensures sustained success in a sustained focus on strategic activities for Increased Productivity
dynamic business environments. long-term performance improvement. Increased Revenue
Better Planning
ENHANCED DATA ANALYSIS AND INSIGHTS GLOBAL REACH AND ACCESSIBILITY And Forecasting
Increased Employee
Gen AI processes vast data rapidly, enabling By breaking down language and Satisfaction
instant decision-making. The rapid accessibility barriers, Gen AI enables Lower Personnel Counts
acquisition of data-driven insights becomes businesses to operate globally and cater to No Or Minimal Impact
a long-term strategic advantage. a diverse customer base.

CUSTOMISED CUSTOMER EXPERIENCES

AI-driven personalisation leads to immediate
customer satisfaction, translating into
long-term loyalty and increased sales. INFO

The use of Gen AI in business is expected to boost global

corporate profits by around $2.6 to $4.4 trillion each year.
Source: McKinsey Global Institute

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5. Elevating
Businesses in
the Dynamic AI Technology Providers
and Developers
Consultants
and Integration

Ecosystem
Specialists

The companies that have adopted Businesses Investors

Gen AI form a diverse and active and and Venture
Corporations Capitalists Ethics
ecosystem, with a range of and Privacy
contributors working together to Advocates
develop, implement and make AI Training
effective use of AI technologies. Government and
and Education
Regulatory Bodies Providers

INFO
Research
Institutions End Users
In a global survey, 67% of and
Academia
and
Consumers
respondents reported
that their companies are
using Gen AI.
Source: O'Reilly Survey, November 2023

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 INSIGHTS REPORT

NURTURING A PROMISING LOCAL AI ECOSYSTEM

THE EVOLVING PROCESS CREATING DIGITAL HUBS A CALL FOR ACTION FOR POLICY-MAKERS
Gen AI is always changing, with new and existing Collaborative digital hubs, involving participants
players adjusting to tech and market shifts. from both the public and private sectors, serve
Various stakeholders are crucial for Gen AI's as shared technology spaces for the creation of
progress, working together in a synergistic way. policies, frameworks and action plans.
This collaborative effort ensures a Culture change Strong and Less strict
comprehensive approach to developing and NURTURING A TALENT POOL regarding coherent European
using AI. Greece boasts a considerable number of ICT top-down governmental legislation
professionals who can undergo training for digital strategy framework
GUIDING THE ECOSYSTEM AI-related requirements. We can cultivate a fresh education
Greece's technology landscape operates talent pool across the ecosystem by endorsing
bottom-up, lacking a cohesive connection with continuous learning, vocational training, and
the education system that can foster rapidly the other educational approaches focusing on REGULATORY COMPLIANCE AND ADVOCACY
needed adoption of Gen AI. To orchestrate this emerging technologies such as AI. Different industries collaborating across sectors
complex ecosystem effectively, a central can join forces to influence and comply with
coordinating entity is essential. This entity would SHARING THE KNOWLEDGE regulatory changes. By ensuring compliance and
set the pace for various stakeholders, offering Participating in roundtable discussions and think streamlining processes across sectors, AI can
guidance and a unified direction. tanks allows experienced stakeholders to share help navigate the complex regulatory landscape.
their expertise, fostering a creative dialogue for
COMPANIES' ROLE IN DRIVING CHANGE the benefit of the entire business ecosystem.
As stakeholders within the broader ecosystem,
INFO
companies play a pivotal role in driving KEEPING INNOVATORS IN THE LOOP
transformative changes, particularly in reshaping Several startups have developed their own
how Greece views technology and addresses solutions with Gen AI. Collaborating with them Athens is one of the cities with
the challenges of education and public digital or co-developing a product or service with them
hubs. is a valid option to consider.
the highest per capita density
of AI engineers in Europe.
Source: Atlas Sequoia’s interactive guide to Europe’s technical talent

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6. What are the next steps?

Three steps to develop the necessary digital skills for successful adoption of Generative AI.

EDUCATE PEOPLE ACT FAST CROSS-POLLINATE

Cultivate a workforce that Gen AI is here. Swift action You are not alone in this
embraces digital advances is not just an option; it's a quest; join forces with other
and recognises the benefits necessity to ensure your sectors and exchange
of Gen AI in their business remains insights.
day-to-day roles. competitive and relevant.

A guide to unlock business value from Generative AI / What are the next steps? 12
 INSIGHTS REPORT

CO-HOSTS
Alexandros Karvouniaris
ABOUT THIS REPORT Chief Technology Officer, Synthetica
The Insights Report is derived from analysing and researching what 12 innovation-driven leaders Haris Michailidis
discussed in a roundtable discussion initiated by Qualco Group’s Innovation Hub. In the form of a Principal Data Engineer, QuantumBlack,
Think Tank, executives shared their views on how Gen AI will affect various industries and reflected on AI by McKinsey
its potential business value. The Leaders Think Tank took place in November 2023. The report was
produced in collaboration with Found.ation. MODERATOR
Filippos Zakopoulos
Managing Partner, Found.ation

PARTICIPANTS
Markos Fragoulopoulos
Head of Corporate Marketing, Interamerican
ABOUT INNOVATION HUB BY QUALCO GROUP
John Gikopoulos
Welcome to the Innovation Hub by Qualco Group, a dynamic Chief Innovation Officer & Head
space dedicated to advancing software development in the digital of Applied Intelligence, Qualco Group
era! Our mission is to serve as the premier destination where Fotini Ioannou
software professionals, tech pioneers, and communities Chief of Staff, Mytilineos
collaborate to influence the future of the industry. Qualco Group's Dimitris Kalavros-Gousiou
Co-Founder & General Partner, Velocity.Partners
Innovation Hub is powered by Found.ation. & Partner, Found.ation
George Mantalos
Energy Management Director, Star Bulk
Zina Mavroeidi
ABOUT QUALCO GROUP Managing Director, E-fresh.gr
Stratos Molyviatis
As an innovator, Qualco Group believes that the power of
Chief Operating Officer, National Bank of Greece
technology can change the world for the better. Leveraging a vast Spyros Retzekas
ecosystem of partners and clients alongside the dynamics of AI, Chief Operating Officer, Qualco Group
Qualco Group tackles complex challenges in finance, property Edward Sarantopoulos
and digital landscapes with cutting-edge solutions that transform Director, AKTOR
businesses and empower individuals. Orestis Tsakalotos
Group Executive Chairman, Qualco Group

A guide to unlock business value from Generative AI / About this report 13