On the GenAI journey, knowledge makes way for joint exploration

As the new chief technology & innovation officer, Marc Diepstraten is responsible for the digital strategy of PwC Netherlands. The development of generative artificial intelligence (GenAI) is a key part of this. How does an organisation navigate a landscape for which there is no roadmap yet? How do you look for solutions when your current revenue model is under pressure? Find out more in this blog. 

The technological developments we are currently experiencing, including the rise of GenAI, are moving at a rapid pace. Together, we face the challenge of rethinking existing business processes and models while ensuring continuity. 

The fundamental revision of business models

In our many conversations with CEOs, one of the most frequently asked questions we hear is: will my company still exist in ten years, or even five? At PwC, we anticipate a revolution in the coming years, a fundamental revision of business models. The advent of AI is putting a lot of pressure on existing revenue models and opening up new directions. This is especially true where client interaction, speed and the processing of large amounts of data go hand in hand. We are now seeing this for example in the banking, insurance, and consumer industries, as well as in government executive bodies. This requires investment decisions that leverage technology and keep the organisation agile. But in this rapidly changing landscape, it is very difficult to know which investments are the right ones.

From sharing knowledge to exploring together

Our conversations with clients are about data and technology every day – and this is very different from a few years ago. As PwC advisers, we used to share absolute knowledge and solutions, but now we are a discussion partner who presents possible scenarios and directions and explores them together with the client. This is also a new challenge for us as a knowledge institute. It requires us to evolve who we are and how we work with each other and our clients. Of course, we continue to build on our knowledge of a client's critical business processes and of market and societal developments. But today's issues require us to think and work in a completely different way. Discovering, implementing and applying GenAI is a journey that we are exploring and mapping out together with our clients and other stakeholders in an ongoing dialogue.

Five navigational tips for GenAI travellers 

In the (Gen)AI landscape unfolding around us, there is no set route. There is not even a map. The right approach and applications vary from company to company and sector to sector. We need to adapt our strategies. Fortunately, there are principles you can apply as a company wherever you are on the GenAI journey. Here are five pieces of advice that I believe are relevant to every organisation.