Despite some initial concerns around accuracy, data privacy and the inevitable conflict between humans and digitisation, the uptake of the technology is advancing at pace. Organisations are now working rapidly to deepen their understanding of GenAI’s practical applications in their operations. They are upgrading their digital infrastructure, hiring specialist talent, developing policies to regulate its usage and, in a number of sectors, already successfully launching new AI-driven products. In the UK, AI now contributes £3.7 billion to the economy¹ and it is estimated that 1.3 million British businesses will be using the technology by 2040². And, while it still has limitations, at Bowmark we believe that companies must position themselves at the forefront of AI’s developments or risk being left behind. We are helping businesses across our portfolio to evaluate the future applications of AI in their organisations and the strategic opportunities it presents, and a number are already gaining competitive advantage from the early implementation of AI tools.
Totalmobile: optimising field service management
Totalmobile, the field service management software provider, demonstrates how GenAI can revolutionise service delivery. The company has embedded AI functionality in its software to streamline workflows, enhance service quality and create efficiencies for its customer base – which includes local authorities, health and emergency services, as well as businesses across the property, facilities management, transport and infrastructure sectors. These AI-powered tools optimise scheduling, rostering and route planning to ensure staff and resources are deployed as efficiently as possible, as well as providing valuable data insight and analysis.
DeHavilland: customising data analysis and communication
DeHavilland, a leader in political data and analysis, provides its customers with real-time intelligence, enabling them to track the latest political and regulatory developments in the UK and Europe. The company is successfully leveraging GenAI to assess, consolidate and report political sentiment data for its clients. Its custom AI models analyse subtle nuances in political communications that could impact its clients’ organisations and objectives, which are then translated into actionable insights. In addition, its AI-powered email assistant, built on OpenAI's API, helps DeHavilland’s political experts to craft bespoke communications that are customised to its clients’ specific briefs. These tools have delivered tangible results, with DeHavilland's clients confirming a significant improvement in engagement.
WSD: streamlining workflows with intelligent automation
WSD provides market-leading workflow automation software solutions to the global structured products industry. The complexity of structured products requires a high volume of legal and regulatory documentation, which has historically been drafted manually. By customising a large language model (LLM) with WSD's proprietary datasets, the company’s Melody chatbot offers clients tailored solutions for automating complex workflows, like trade capture and XML file creation, thereby improving the seamless processing of transactions without manual intervention. Melody’s capabilities also extend to supporting sales with explanations of structured products’ behaviour in various market conditions and automating service desk operations, increasing efficiency, reducing cost and improving the accuracy of the data provided to its clients.
Kubrick Group: training the next generation of tech leaders
Kubrick was established in response to the world’s growing skills gap in next-generation technologies. The company has trained over 2,000 tech specialists in AI, data and cloud capabilities, to help its clients use technology to gain competitive advantage. A specialist in designing, deploying and optimising AI solutions, Kubrick has delivered a range of LLM-driven applications and GenAI projects for its clients, as well as helping to implement the underlying data infrastructure and governance practices. As the technology evolves, Kubrick is continuously identifying and developing diverse talent with the most up-to-date tech skills and enhancing its training offering, to ensure it stays at the forefront of next-gen consultancy.
Investing in the future
The GenAI landscape is set to evolve further as the technology develops. In particular, we anticipate advances in AI’s ability to understand and generate human-like text and images with much greater accuracy and creativity. Integration with other emerging technologies, such as blockchain and Internet of Things, will also have a meaningful impact on businesses and consumers, while quantum computing has the potential to increase AI’s processing power and capability, enabling the resolution of problems previously deemed unsolvable.
Bowmark's portfolio highlights the potentially transformative impact of GenAI on reshaping business operations and delivering competitive differentiation. We remain committed to helping our portfolio companies harness the potential of GenAI in their organisations, while continuing to monitor the evolution of the technology and the opportunities it presents.
Sources
¹ Vote of confidence in UK economy as British AI company Wayve secures over $1 billion to develop AI for self-driving vehicles, by UK Gov (Published 7 May 2024)
² AI activity in UK businesses: Executive Summary, by UK Gov (Published 12 January 2022)
Associated investment
WSD
A provider of document and workflow automation software solutions to the global structured products industry
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