Accelerating business value through managed services and GenAI

GenAI: Here to stay—and grow

From the boardroom to the living room, the impact of GenAI is being felt far and wide—with the size of the AI market projected to exceed $300 million in 2024 and growing to more than $700 billion by 2030.¹ Researchers suggest that GenAI could grow the global gross domestic product (GDP) of the United States by nearly $7 trillion, while boosting employee productivity by 1.5% across the board over the next 10 years.²

Capable of analyzing vast amounts of data to synthesize content across multiple mediums, GenAI’s potential business impact is incredible. This includes relatively mundane activities—such as generating real-time reports, automating processes, and time-consuming tasks—to complex analytics, trend assessments, and recommendations.

From a day-to-day managed services or “operate” perspective, GenAI’s greatest impact could be accelerating the elimination of repetitive, routine tasks—freeing up focus for projects that enable business differentiation.

GenAI in managed services: Power through automation

Over the next 12–24 months, we anticipate rapid change in managed services due to GenAI. Many suppliers are investing in and developing GenAI-enabled products and services—and major enterprise resource planning (ERP) and service management software vendors are making similar investments. As such, we anticipate GenAI’s evolution in the future falling into two buckets:

1. Allowing enterprises and suppliers to “do things differently” in the near term.
2. Enabling enterprises to shift to “doing different things” over time.

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Endnotes

¹ Statista, Artificial intelligence – worldwide, 2024.
² Goldman Sachs, “Generative AI could raise global GDP by 7%,” April 5, 2023