The generative AI market is projected to grow an annual CAGR of 24.40% between 2023-2030, shared by Statista. This growth suggests that generative AI will not just be a luxury some businesses embrace, but a necessity to be efficient, productive and competitive. In this article, we will look at why generative AI is rapidly growing, and what this means for you in 2024.
Generative AI, powered by advanced algorithms and deep learning models, possesses the unique ability to create content, mimic human behaviour, and even generate realistic images. Its applications span across various industries, from healthcare to finance, but one area where its potential is particularly exciting is sales. The ability of generative AI to analyse vast datasets, predict consumer behaviour, and generate personalized content opens up a world of possibilities for sales professionals.
Before we delve into the future, let us take a look at the current state of generative AI in business, and how it is currently being leveraged for increased sales, revenue and growth.
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The success of generative AI in sales can be attributed to its ability to enhance efficiency, accuracy, and customer satisfaction. As we look ahead to 2024, several factors indicate that its influence will only continue to grow.
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Despite these benefits businesses are gaining from the adoption of generative AI, there are some challenges that must be considered before adoption. These include:
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Track your customer interactions โ With TEB Apps real-time GPS tracking, you can view all the interactions you have had with customers, and the locations where these interactions happened.
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