PwC sees more firms adopting GenAI

Global business consultancy PwC accelerates Philippine companies’ adoption of generative artificial intelligence (GenAI) as the first reseller and largest user of ChatGPT.

“The arrival of a non-human intelligence is a big deal, and we’re not even 1 percent along that journey,” PwC’s head for GenAI in Asia Pacific Scott McLiver said during his recent visit to the country.

Generative AI creates text, videos, audio, and images based on its massive data stored online or inside computers of the users and their instructions or codes to the AI tool.

In the case of OpenAI’s ChatGPT, its AI makes essays, poems, and other text through its language learning capacity. OpenAI is a US research firm backed by technology leaders Elon Musk and Microsoft.

During his Manila visit, McLiver delivered a talk to business leaders of the Management Association of the Philippines, CFA Society Philippines and PwC Philippines’ partners and directors.

“Over the next couple years, we’re going to see GenAI embedded into every thing that we do. Whether those are creative tasks like creating videos or logos or diagrams, or analytical, like programming or report writing, we’ve now got basically a digital brain that we can use to help us accomplish our goals,” he said.

PwC Philippines offers training on using GenAI to company executives and consultations on building an AI road map, policies on the safe and effective deployment of the technology.

“If you’ve got a mobile device and an internet connection, you can have the smartest person on the planet in your pocket for free. As professionals, our task is to figure out how to maximize the benefits of these digital brains for our clients,” McLiver said.

PwC’s global CEO survey for this year shows 70 percent of company leaders believe GenAI can improve their operations and customer service.

PwC adds that users of the technology can increase profit margin by 20 percentage points.

It says businesses which will mostly benefit from GenAI are those engaged in computers, luxury, entertainment, telecommunications, hospitality, and medicines.