Spanish Businesses Harness Genai Power For Explosive Growth

As artificial intelligence (AI) and its generative counterpart, GenAI, continue to gain traction across industries, businesses are eager to leverage these technologies to drive innovation, efficiency, and growth. The market opportunity for GenAI solutions in Spain is projected to surge from $19 million in 2022 to $425 million by 2027, with a remarkable compound annual growth rate (CAGR) of 86%, underscoring the potential benefits of this technology.

However, implementing GenAI into a company’s infrastructure is no trivial task. According to Rubén Granados, leader of the Data Science team at Telefonica Tech, implementation is not as straightforward as sometimes thought, requiring adjustments and adaptations to obtain the best possible results. This sentiment echoes the challenges faced by organizations in effectively integrating GenAI solutions across various industries.

Selecting the most suitable large language models (LLMs) can be daunting due to significant differences between generative models on the market. While using open-source models can lower costs, data security must be considered, and applications limited to specific use cases. To mitigate these challenges, organizations must prioritize a strategic alignment with their goals.

Granados emphasizes that a GenAI project should be closely tied to the organization’s strategic objectives, ensuring that AI and GenAI initiatives are well-planned from proof of concept to deployment. Data quality, governance, and processes for data privacy must be integrated into the early stages. Telefónica Tech, a pioneer in GenAI experimentation and implementation, has developed its expertise through numerous projects across various sectors.

The company’s experience in deploying AI solutions has led to innovative applications, such as GenAI-powered assistant tools that provide employees with relevant information from corporate document repositories, enhancing productivity. Granados highlights the importance of understanding client needs during initial conceptualization, emphasizing a client-centric approach to offer bespoke proposals based on its experience in different clients and sectors.

Partnering with trusted technology partners like Telefónica Tech becomes increasingly crucial as businesses prepare to implement and integrate the latest AI innovations. With expertise in access to GenAI platforms, training, and professional services, these partners can provide essential support for organizations seeking to streamline processes, create new efficiencies, and unlock the full potential of GenAI.

By embracing the complexities of integrating GenAI into their operations, businesses can reap the rewards of this cutting-edge technology, capitalizing on the benefits in a competitive landscape.