Generative AI puts Product led growth on Steriods

Generative AI is revolutionizing industries and driving economic value by enhancing productivity across various functions. The global economy could witness a value addition of $2.6 to 4.4 trillion, with customer operations, marketing and sales, software engineering, and R&D benefiting the most. This blog explores the transformative power of generative AI for product-led growth (PLG) companies. By leveraging PLG and generative AI tools, these companies can achieve faster product development, advanced automation, AI-powered workflows, and deeper personalized customer experiences, ultimately driving significant value.

Build Products Faster and Cheaper

No-code and generative AI tools have drastically changed the product development landscape. Developers now spend less time on code generation, correction, refactoring, and root cause analysis, thanks to tools like ChatGPT. GitHub Copilot, an AI-powered assistant, enables developers to write bug-free code and automate complex tasks, resulting in a 56% increase in task completion speed. No-code tools like AppSheet, Bubble, Adalo, and Landbot empower individuals without coding knowledge to build and iterate on products rapidly. Gartner predicts that 70% of new applications will leverage low-code or no-code technologies by 2025. This accelerated product development allows businesses to respond swiftly to evolving customer needs, fostering experimentation and innovation. AI's direct impact on software engineering productivity could range from 20 to 45 percent of current annual spending on the function.

AI-driven customer Interactions

Customer operations often represent a significant cost driver for companies with extensive product portfolios, large customer bases, and global operations. With the integration of generative AI and advanced PLG tools, businesses can scale their operations faster, deliver consistent experiences, and enhance customer satisfaction levels. Innovative companies like Ada, Digital Genius, Talla, and Help Shift are revolutionizing customer interactions through AI. Additionally, customer feedback tools like Refiner, Chameleon and popular customer care tools like Zendesk, Intercom, Drift, Pendo, Cloud Talk, Social Intents, and Churn Zero are rapidly evolving to meet the demands of AI-powered customer care. These advances will boost the productivity of customer care agents from 30 to 45% of current functional costs.

Hyper-Personalization

Generative AI enables marketers, product teams, and sales teams to deliver hyper-personalization. Marketing productivity can increase by 5–15% of total marketing spend, while sales productivity can boost 3–5% of sales expenditures. Generative AI empowers marketers to effortlessly generate real-time ads, product recommendations, social media posts, and personalized marketing collateral. Visual design for packaging and advertising becomes faster and more cost-effective. Customized voice and speed experiences in chatbots and voice assistants create engaging and personalized customer interactions. New Tools such as Jasper, Flick, Optimove, Grammarly, Albert, Fullstory, Influencity, along with AI innovations from Hubspot, ActiveCampaign, UserList, Beamer, and Salesforce, pave the path for hyper-personalization.

Generative AI is transforming productivity and personalized experiences across industries. With PLG and generative AI tools, companies can achieve faster product development, advanced automation, and deeper personalization. The time has come to harness the potential of generative AI and lead the way toward a more productive and personalized future.