Generative AI - getting hands on with the technology

Enabled by Microsoft, the GenAI Business Centre aims to turn PwC’s AI experience into positive business outcomes for clients.

“The Centre approaches it from a business perspective,” says David Lee, chief technology officer at PwC Ireland. “The first thing it aims to do is to demystify the technology, to explain to our clients what it is and what it is not. The Centre gives our clients the opportunity to get hands on with the technology. They can experience it for themselves in a safe environment and see its power as well as its limitations. We also help to identify the right use cases for the technology – they vary depending on the scale of the organisation concerned and its sector.”

The need for the Centre was highlighted by the latest PwC CEO survey, which found that nearly two-thirds (63 per cent) of global CEOs believe that GenAI will significantly change the way their company creates and delivers value in the next three years.

In terms of use cases, realising value must be front of mind. “Tools like Microsoft Copilot are personal productivity aids,” explains Lee. “It can write reports of meetings and perform sentiment analysis which can be very useful. But how do you productively use the time saved for something valuable? That’s one of the things people are still working through.”

Climate action opportunities

Lee also notes that “organisations are using GenAI to access previously unavailable data to help them to develop new sustainability measures. It is also being used to address gender balance issues and we have seen a number of organisations using GenAI to draft job descriptions that will be attractive to female candidates. These are among the many types of use cases we are supporting clients with.”

Lee contends that GenAI adoption is as much if not more about the people involved as it is about the technology. “It really is a change management journey. It needs to be addressed as a change programme.”

Regulatory challenges present opportunities

The PwC Ireland GenAI Business Centre is also helping organisations with regulatory challenges, most notably the EU AI Act. “This is a groundbreaking piece of European legislation that aims to protect consumers. It establishes obligations based on the potential risks and level of impact that AI can have,” explains Moira Cronin, partner Risk and Regulation, with PwC Ireland.

She advises businesses to view the act not just as a new piece of regulation but as an innovation opportunity. “The EU AI Act supports trust and transparency in AI, meaning companies can invest in the use of AI with confidence. Having a robust governance framework in place will allow teams the space to innovate, using identified risks not as threats but as opportunities to push the boundaries of AI knowing they are protected by that framework. It will also push businesses to identify more ways to use AI in those processes that further enhance the business.”

There are potential reputational gains as well. “There are benefits for the consumer to know they are protected by this Act as they engage with your business and there are benefits to your business in knowing it is protected in using and developing AI,” says Cronin. “The Act therefore allows companies the opportunity to focus on innovation and developing products rather than just focusing on the risks and how to manage them.”

Demand for PwC’s GenAI Business Centre’s services is strong, and Lee expects it to grow as the pace of adoption picks up. “We are helping clients to adopt the technology in a safe and controlled way with proper governance in place while not missing out on the opportunities it presents for their businesses.”

For details, visit PwC.ie