ChatGPT’s unveiling in 2020 has sparked a surge in the application of Generative AI – a kind of technology that yields outputs from data sets. This large system generates digital content AUTOMATICALLY and effectively.
OpenAI’s extensively discussed language-generation system has been prepared with training from 570 GB of information from books and the internet.
Much to the amusement of the internet users, the bot responds when given a prompt or question – an engagement made simple. It has swollen in popularity due to unsuspecting users fabricating books or just enjoying tormenting them.
Gartner studied the investment activity in generative AI companies over the past three years and found that they have secured more than $1.7 billion of venture capital. Additionally, it has been projected that the entire AI sector is predicted to reach a market value of approximately $134.8 billion by 2025.
Generative AI can provide examples of components such as business documents, proposals, and code to create new assets. The utilization of AI technology, which is usually intricate, is simplified, thus aiding small businesses to easily generate relevant content when making inquiries with the help of its convenient interface.
At Mobile World Congress 2023, Accenture’s Chief Cloud Technologist Teresa Tung announced that the democratization of cloud technology had relieved the onus from a few tech companies. She pointed out to Insider that this had allowed more people to access its advantages.
Generative AI enriches how businesses can expand due to its ability to speed up better and increase AI implementation than could be managed by the physical labor force regarding positions, for instance, data scientists, consequently eliminating their necessity.
Tung, boasting over 220 patents and patent applications under her name, is an inventor with a resume of amazing accomplishments.
Tung says:
“You see how easy it is to apply ChatGPT; the application becomes the new pivot in terms of focus.”
“So rather than having to scale by having lots and lots of data scientists, maybe you have more and more domain experts and people who are getting the data ready for the data engineers.”
By pinpointing what data is available and determining how to utilize it, healthcare providers such as doctors are enabled to optimize the effectiveness of their practice.
Tung went on to say:
“I don’t necessarily need a whole bunch of data scientists to be able to create a model now that is used for predicting patient outcomes.”
“That’s really exciting. Having the data, [and] having the domain experts becomes more important than having the data scientists.”
Tung noted that this pivot could bestow power on industries unrelated to techs, such as those with expertise and domain data. This can be beneficial in their acquiring power in the market.
Tung continues to say:
“The challenge is their ability to, one, figure out how to apply this responsibly, and then, two, be able to engineer it within their human processes in big central use cases.”
The technologist, Tung, clarified that a person should always monitor AI-generated output to ensure the information is valid. He is also working closely with industry representatives to devise trustworthy frameworks for AI utilization.
The emergence of generative AI has the potential to shift power away from big tech companies and toward individuals and smaller businesses. By enabling individuals to create their content and products using AI-powered tools, generative AI has the potential to democratize access to technology and level the playing field for innovation.
Moreover, the increased use of generative AI could lead to a more diverse and decentralized ecosystem of creators and innovators with broader perspectives and ideas. However, it is important to recognize that deploying generative AI raises ethical and regulatory questions about data privacy, intellectual property, and accountability.
Source: Africa. business insider
