Both technologists and economics recognize generative AI’s enormous bottom-line potential. However, how best to apply these forecasts and how they materialize remains to be seen.
In 5 minutes or less, you’ll learn all you need to know about generative AI.
Generative AI to Become a $1.3 Trillion Market by 2032, Research Finds | Bloomberg
Bloomberg Intelligence (BI) predicts that the generative AI industry will expand to $1.3 trillion in the next ten years, up from roughly $40 billion in 2022.
AI-powered marketing and sales reach new heights with generative AI | McKinsey
Generative AI has the potential to change the way businesses and consumers think about customer experience, productivity, and growth. The combination of Gen AI with company-specific data and context has enabled hyper-personalization in sales and marketing solutions.
Generative AI Is Exploding. These Are The Most Important Trends You Need To Know | Forbes
This year’s list includes four trends:
- OpenAI made a major statement last year with the unveiling of ChatGPT, a generative AI infrastructure. However, their large bet on scale and a technology known as Reinforcement Learning with Human Feedback (RLHF) is just one of many paths LLMs are adopting.Investors are focused on infrastructure businesses that house the vast volumes of data required for enterprise AI applications in a manner that allows for all types of data pipelines.
- ChatGPT, the renowned all-knowing chatbot, is an example of a generative AI application. Midjourney and Stable Diffusion focus on social media for image creation. Writer and Jasper, which employ GPT-4 to assist marketing copywriters. Tome, which creates stunning presentations, is predicted to grow in popularity.
- Predictive AI applications: Detecting abnormalities and then finding methods to reduce them is another beneficial application of AI’s predictive capabilities. For example, Viz.ai displays patient imaging that should be assessed by a specialist soon and organizes the care team to enhance outcomes for patients with stroke and other time-sensitive illnesses.
Google’s Generative AI Platform Is Now Available To Everyone | Forbes
Google announced the wide availability of generative AI services built on Vertex AI, Google Cloud’s machine learning platform as a service (ML PaaS). Customers will have access to their most recent platform features for developing and powering unique generative AI applications with this version.
Adobe Announces ‘Generative Recolor’ AI Feature For Adobe Illustrator | Forbes
With a new set of generative AI capabilities in Adobe Illustrator, Adobe is going “all-in” on generative AI. Photoshop’s “Generative Fill” tool will be available in late May. The tool, dubbed Generative Recolor, seeks to let users quickly refresh the colors and fonts of a design and is the newest addition to Adobe’s Firefly cluster of generative AI tools and models.
The future of generative AI is niche, not generalized | MIT Technology Review
ChatGPT has aroused interest in artificial general intelligence. However, the next significant phase of AI will take place in certain areas and circumstances. GitHub Copilot is an example of this, since it is an AI that is used to solve problems by software engineers in very particular circumstances.
Salesforce Announces AI Cloud – Bringing Trusted Generative AI to the Enterprise | Salesforce
AI Cloud is the quickest and most trusted option for Salesforce clients to use generative AI for the enterprise to improve customer experiences and corporate efficiency. Einstein, the world’s first AI for CRM, lies at the heart of AI Cloud. Einstein uses generative AI to make every firm and person more productive and effective in sales, service, marketing, and commerce.
The Generative AI TLDR
“We’ll know generative AI is successful when we stop noticing it and the predictions about what it might do fade away.” In fact, we should be ready to accept that its success may appear to be extremely mundane. Of course, this shouldn’t matter; once we accept it doesn’t know everything — and never will — that’s when technology starts to become truly useful.”
– The future of generative AI is niche, not generalized | MIT Technology Review
That’s all for the past weeks! Stay tuned for more meetings on a biweekly basis.