As the next step in the artificial intelligence (AI) revolution, generative AI has taken the middle market by storm with tools and solutions to increase efficiency and rapidly create new content and communications. While traditional AI solutions excel at analyzing and gathering insights from data, generative AI can create stronger connections with users and customers by developing more personalized, human-like interactions driven by complex models trained on vast data sets.
Generative AI is disrupting many key business processes. How can it work for you?
Where can generative AI make an impact?
Generative AI can have truly transformative effects on many of your key business processes. Potential use cases include:
- Content creation: With generative AI, you can create original audio, video, images or text-based content to strengthen your brand or enhance communications with current and prospective customers. Tools can also rapidly summarize extensive presentations or large amounts of text.
- Chatbots: An effectively designed chatbot can be a pivotal tool in strengthening the customer experience, creating a conversational interface to provide answers to critical questions and generate sales opportunities 24 hours a day.
- Inquiry response: Generative AI can save employees time by responding to inquiries such as requests for proposals with built-in governance controls. Solutions can leverage historical question responses and user context to develop high-quality answers, creating a positive user experience, completing more responses and enabling employees to focus on more strategic functions.
- Campaign development and outreach: Instead of manual, time-consuming campaigns, generative AI can create automated, high-quality customer outreach with a consistent voice. Features within Microsoft Copilot, Google Gemini, Salesforce, and a host of sales and marketing solutions powered by generative AI can generate new material based on previous successful campaigns, customer criteria and data analysis, providing more time for sales and support rather than content creation.
- Risk evaluation and mitigation: With risk evaluation and risk assessment capabilities, generative AI solutions enable companies to gain rapid insights into potential vendor risks and answer complex questions that would otherwise require significant resources, time and research to address.
These use cases are just the beginning. Generative AI presents tremendous potential to strengthen and optimize critical functions throughout your organization. As new solutions emerge, new opportunities will continue to materialize that can save your business time and money while creating a competitive advantage.
An effective, responsible generative AI approach
RSM’s experienced generative AI team can quickly develop generative AI solutions that are customized to your needs and business goals. And while generative AI can create seismic change throughout your organization, it does not come without challenges or risks. RSM can create a framework that enables you to responsibly implement generative AI solutions that capitalize on enhanced automation and insight while limiting potential vulnerabilities.
Generative AI services
Prior to development and implementation, RSM’s skilled advisors evaluate your data to ensure it is accurate, complete and ready to support a successful generative AI strategy. With a strong data foundation in place, we evaluate where generative AI can make the most impact on your business operations and we then prioritize potential opportunities.
Like all innovations, generative AI is best utilized with a governance plan in place. Generative AI requires oversight because it evolves extremely rapidly, makes decisions on its own and generates new content. In many ways, it is more powerful than human decision making because it is more persuasive, it is always on and it can transmit knowledge faster. RSM can develop a governance-first approach within your organization, enabling you to unlock opportunities and achieve meaningful impact while confidently incorporating third-party, external and internal AI systems into your strategy.
The RSM Middle Market AI Survey 2024: U.S. and Canada found that middle market companies are using a wide variety of generative AI tools, led by ChatGPT, Microsoft Copilot, Adobe/Firefly, Google Gemini (formerly known as Bard)/Duet, Azure AI and Zoom AI. RSM has experience with the full spectrum of generative AI tools and applications, and we can carefully determine which will create the most value for your business needs.
Many middle market organizations operate on a foundation of Microsoft technology, and several Microsoft generative AI solutions integrate seamlessly with those programs, including Microsoft Copilot and Azure AI. The RSM team gives you the tools and insight to understand how Microsoft generative AI tools can dramatically increase insight and productivity within the applications you already use.
Organizations are rapidly adopting AI and large language model (LLM) technologies to enhance operations and streamline processes. However, this adoption brings significant security and data privacy risks. Our cybersecurity consulting team is proficient in testing the technical security of AI/LLM-enabled applications and enterprise solutions. We identify and address common risks associated with AI technologies, increasing the security of your AI investments. Our comprehensive assessments include, but are not limited to:
- Testing generative responses from the LLM with a security and privacy lens
- Configuration review of cloud resources
- Application programming interface (API) testing of back-end components
- Web application testing of front-end user interface
- Code and log review
Designed for large, complex organizations, RSM Automated Compliance System (RACS) is an advanced solution utilizing AI and LLM technology to streamline the creation and enhancement of internal controls, align them with government regulations and industry best practices, and provide insightful analytics to identify deficiencies and compliance gaps. By leveraging LLMs, RACS performs rapid initial mappings of controls and regulations, which are then reviewed by regulatory advisors.
Additionally, RACS visually represents control mappings, showing relationships, overlaps and coverage gaps. This feature quickly identifies necessary control owners for discussions and ensures the right participants are present for audits. All functionalities are integrated within the tool, eliminating the need for external spreadsheets or email updates, thanks to its built-in notification and messaging capabilities.
RACS is currently helping Fortune 500 organizations to effectively and efficiently manage their compliance risks while leveraging institutional and extensive external knowledge.
Special report
Middle market is confident about AI, despite early-stage adoption changes
- 78% of respondents say their organization either formally or informally uses AI
- 41% report being in the partial implementation phase for AI
- 58% of those who use generative AI want to use it to improve quality control
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