How Do We Leverage Generative AI for Productivity Gains?

By Adam Hadley,CEO, QuantSpark

Last week, the UK government unveiled its Spring Budget, announcing tax cuts and investments to enhance public sector productivity. This aligns with Chancellor Jeremy Hunt’s declared intent last year to initiate “the most ambitious public sector productivity review ever undertaken by a government.”

A cornerstone for productivity across both the public and private sectors is our data infrastructure. It is therefore heartening to learn that with the investment announcement in the Spring Budget, the government suggests a capital injection will enhance automation and increase the use of data in the NHS. There have also been ambitious government announcements about the UK becoming a leading player in AI and how technology can help transform productivity.

However, we need a joined-up policy approach on data. In the private sector, companies need to be incentivised to develop robust data infrastructure and analytics capabilities that AI relies upon. While tax relief for capital equipment is welcome, we need similar investments in technology and data to sustain the focus needed to build enterprise data maturity.

Some firms are already realising the gains to be made by leveraging their data with new technologies. At QuantSpark, we have been working on innovative data and AI projects since January to supercharge high-value, complex processes to drive operational efficiency and profitability.

For example, we present an insightful case study from a global travel logistics client this month. We transformed their billing process by leveraging the latest technologies in Generative AI. We deployed Optical Character Recognition (OCR) tools to automate contract transcription, followed by Large Language Models (LLMs) to understand and parse them. As a result, QuantSpark helped uncover millions of pounds in untapped revenue.

Through this example, we are witnessing the much-needed productivity boost that businesses now require from Generative AI. We have been discussing the untapped potential of Generative AI with C-Suite leaders for many years. Now we offer Executive Leadership Workshops on Generative AI to company leaders. For all organisations, we have created a complimentary Digital Opportunity Assessment designed to evaluate and provide an immediate assessment of data proficiency.

These are just some of the initiatives underway in what is becoming a very busy year for us at QuantSpark. While many organisations will be looking to the government to address the fundamentals of the economy and unlock productivity, many firms are already gearing up to seize the opportunities of AI and data. In all our projects, we aim to create value in businesses and catalyse growth. As markets face greater disruption, we aim to empower organisations to realise their competitive advantage through data, strategic insight, and AI.

See also

Digital Opportunity Assessment

Use our complimentary assessment tool designed to evaluate your organisation’s data proficiency. Read more

Executive Leadership Workshops on Generative AI

Tailored briefings for C-Suite leaders of organisations ready to take the next step in Generative AI. Find out

Empowering Digital Innovation: The Evolution of Algorithms-as-a-Service

Discover how Algorithms-as-a-Service (AaaS) is revolutionising digital innovation, offering businesses sophisticated algorithmic processing capabilities through cloud-based services to enhance decision-making and operational efficiency. Read more