You''ve been here before, right? Blockchain, the Metaverse - and now GenAI. Could this time really be different and the hype justified? The answer to this question is rooted in how GenAI can be used in the real world. In this report we thus challenge our sector teams to identify GenAI use-cases within their industries - and those companies likely to pioneer them. The result is perhaps the broadest consideration yet of how GenAI can diffuse through the economy. Efficiency is the common theme, prompting our Strategists to raise the prospect of a productivity supercycle ahead. We also put forward a selection of baskets to play the GenAI theme, including digital pioneers, productivity winners, digital enablers, and those at risk of disruption.