Towards an AI-augmented economy: An analysis of generative AI trends, impacts and strategic implementation

Abstract

In recent years, especially following the release of OpenAI ChatGPT in November 2022, artificial intelligence has aroused widespread interest, becoming the focal point of numerous debates and studies on its disruptive potential. This thesis aims at exploring the evolution, current trends, and future prospects of artificial intelligence, with a focus on its business impact. Chapter 1 provides an overview of AI and an analysis its economic potential, current adoption level in various industries, and the associated risks. Through an examination of its capabilities and possible use cases, Chapter 2 assesses GenAI impact across different industries, highlighting the diverse ways in which businesses are leveraging GenAI in its three most promising business functions: customer operations, marketing and sales, and product R&D. It will then explore the effects of AI on labor productivity, business organization, and the workers well-being. To conclude, Chapter 3 presents a case study of a leading Italian company in the steel and construction industry, illustrating the company’s approach, as well as the practical challenges and opportunities encountered in their journey with AI. Overall, the findings underscore GenAI as a transformative yet complex tool that, while offering significant business advantages, requires careful management to mitigate its inherent risks and fully harness its potential.