Shortly before ChatGPT became widely popular in late 2022, a Northern European manufacturer of specialized products for heavy industry, with over 18,000 employees and a presence in more than 60 countries, released an annual report running almost 200 pages. Of the 33,660 lines of text in the report, 14 were devoted to announcing that the company purchased of a plot of land in India.
Use GenAI to Uncover New Insights into Your Competitors
Companies have a growing problem of information overload regarding markets and competitors, which often prevents the C-suite from making the best decisions available given the data at its disposal. While generative AI is often pitched as a way to create new content (information in, message out), it can work just as well — or depending on the application, even better — in reverse (message in, information out). And this counterintuitive application of generative AI is starting to enable leaders in marketing, strategy, and competitive intelligence to unearth strategically relevant insights about their competitors from documents made publicly available by those competitors. In other words, generative AI can become the watchful eye that spots useful insights in the field of competitive intelligence.