The Transformative Power of Generative AI

Generative artificial intelligence (or generative AI) is technology that uses data to create new content/text, images, audio, video, code and other media. With the right human inputs, it has the potential to transform content creation.

ChatGPT is a popular example of generative AI. Other examples include DALL-E (generative art), Jasper, Lex and Bard; however, there are many generative AI systems that can create things like video, art, articles and audio.

Large tech companies like Google, AWS, Meta and Microsoft are some of the key players in the generative AI space, but organizations across industries and sectors already use AI to power automation tools and are quickly adopting “Gen AI” technologies.

Generative AI is artificial intelligence that can create different content types in response to prompts.

Conversational AI refers to artificial intelligence that uses natural language processing (NLP) to engage people in conversation—like virtual assistants or chatbots. It mimics human interaction by using machine learning and natural language processing.

Generative AI can help organizations unlock value through operational efficiency, elevated customer experiences such as hyper-personalization, and freeing up their workforce for more innovative thinking.

It can also facilitate human connection with abilities such as real-time translation and assessing content for accessibility and inclusivity.

For businesses, many of the challenges will be similar to adopting other digital tools: To get the most value from generative AI, it will be critical to remove silos between data, modernize existing technology, and embrace a digital-first mindset.

Transparency with teams and customers is essential. The key to meaningful change is balancing these tools with elements of the human touch.

Perhaps most importantly: consult your legal department.

Generative AI certainly has a few limitations, such as perception/interpreting of prompts, dependency on provided data, safety and computation power. A strategic, human approach is vital.