What is the Trend?

I think this year we're going to start seeing generative AI tools like copilot, also sometimes known as gen AI, become everyday companions in our work. So, AI, even generative AI, is not that new. So what do I mean what's going to change? Well, I think what will change is that the number of normal people who use gen AI tools like Microsoft copilot and how frequently they use it is really going to increase. It's going to become commonplace. So for example, Microsoft copilot brings gen AI into our normal productivity apps like our internet browser where we're doing research, Outlook, Teams, Word and PowerPoint. And what these tools do is, they take these super powerful AI models in the background and focus it on tasks like researching a client or writing an email or analyzing information. So, this year whether we're drafting a proposal or creating a presentation, I expect increasingly we're going to be clicking on that copilot or Gen AI icon and then leaning on the tool to help us finish our task.

Why is this Trend important?

Everyday AI is important because of the game-changing advantage it's going to offer companies and employees who adopt it and the real risks for companies and employees who don't. So, just to give some numbers to this, a study of early adopters of copilot for Microsoft365 found that 70% self-reported as being more productive, 68% said it improves the quality of their work and so zeroing in on that on average users reported saving about 1.2 hours a week. But 22% of those reported they save more than 2 hours a week. Also, really encouraging from the study is they asked those productive users what they did with their time and the majority reported that they focused on doing more focus work. So, if we take a step back and ask what that means. We're seeing that already with early adopters of this tool that there's time being saved, and it's being reinvested in work that really matters. We also see that it's improving the general quality of the work and when we're looking at numbers like these, it's worth remembering that the tool hasn't been out that long it's still fairly new and already it's delivering returns like this. So why is it important to customers, to organizations who are looking at this new technology? Well, everyday AI will provide a business advantage to companies that adopt it and it's going to help employees stand out by improving the quality of the products that are created and decreasing the time it takes to deliver those same services. And the companies that don't adopt these tools are going to find themselves at an equal disadvantage. Kind of a question you might want to ask is, do you want to be the company that missed out on email? Well it's the same question with Generative AI.

What is Valorem Reply doing to prepare for this trend?

Like any new technology everyday AI and tools like co-pilot bring new challenges to use effectively and Valorem Reply has been working with clients to support them on every leg of the journey, whether it means meeting with leaders and helping facilitate conversations about what tools like copilot can do for your organization or helping you manage your cloud content. So, if generative AI and co-pilot are looking at that content, making sure that the returns are going to be secure, compliant and also accessible, so you're good in getting great results. And then of course we're also really focusing on the user experience. So, looking at how to train users to use the tool effectively and get the full advantage from it.