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Generative AI for B2B Sales: BCG’s Path to Profit

January 06, 2024

Generative AI for B2B sales is no longer a futuristic concept but a tangible asset. However, navigating the effervescent landscape still presents hurdles. A new framework developed by Boston Consulting Group (BCG) aims to streamline this journey across three critical horizons: augmenting and automating existing tasks, reimagining workflows, and driving transformational change.

In the contemporary business environment, the potential of Generative AI to revolutionize B2B sales is well acknowledged. BCG’s approach, structured to capitalize on this potential, begins with augmenting sales teams’ capabilities, thereby automating mundane tasks to enhance productivity and efficiency. This foundational stage is crucial for fostering employee buy-in and setting the groundwork for more advanced Generative AI integration.

Despite the recognition of Generative AI’s transformative power, adoption challenges persist. Many organizations remain in the experimental phase, grappling with issues ranging from data protection and privacy concerns to the complexities of managing Generative AI’s intricate operations. Over half of the business leaders surveyed by BCG cite the risks of biases and hallucinations as significant concerns affecting Generative AI’s output quality.

Experimentation to Operationalization

As companies venture into this new territory, the focus shifts from mere experimentation to the operationalization of Generative AI for sales. The journey involves not just technological transformation but also a paradigm shift in organizational processes and sales strategies. BCG’s second horizon, ‘Reimagine Workflows,’ addresses this by leveraging Generative AI to streamline and enhance complex processes, thereby creating new efficiencies across the sales domain.

The final horizon, ‘Drive Transformational Change,’ envisions a future where Generative AI is deeply embedded in the core of sales functions. This transformative phase aims to replicate the success of top-performing sales teams at an unprecedented scale, fundamentally altering market engagement strategies.

To navigate these challenges and capitalize on Generative AI’s promise, organizations must adopt a collaborative approach, leveraging AI platforms that offer structured environments and robust frameworks. This includes addressing infrastructural prerequisites and managing talent and skill gaps. As per McKinsey’s estimates, Generative AI could add between $2.6 trillion to $4.4 trillion to global corporate profits annually, marking a significant impact across various sectors.

As we venture into 2024, the integration of Generative AI in B2B sales is not just an option but an imperative for businesses seeking to maintain a competitive edge. The journey might be fraught with challenges, but the potential rewards are too substantial to ignore.