Just think of a world where originality and data blend in ways we can never imagine. This is what Generative AI can do to businesses across the globe. It is a radical transformation that is happening as we write.
For those who are interested in learning cutting-edge technologies, you must go through generative AI consulting and Data & AI Consulting.
If you think we are referring to minor changes or enhancements, you are wrong. These two technologies can reshape the way we perceive, curate, and conduct business.
And if you think Generative AI is a futuristic technology, you will be shocked to know that it is transforming our world in an electrifying and unanticipated manner.
Decoding Generative AI
Simply put, Generative AI is an exceptional division of AI. However, it comprises a creative spirit. If you think it is merely about crunching numbers or refining information, you are wrong.
It helps in creating something new. It can be in the form of an image, text, or music. The one example that comes to mind when we discuss Generative AI is ChatGPT.
It works with the help of Generative Adversarial Networks. Think for a moment about two AI networks that work in unison to ensure that they both function at optimal levels.
One of them curates while the other one assesses and provides suggestions. Both of them, when combined, enhance data.
This results in curations that are both cutting-edge and out of the blue.
Different Industry Applications Formed Using Generative AI
Let us look at some real-world industry applications formed using generative AI:
Art
When it comes to the art world, Generative AI helps artists curate dazzling pieces that combine human creativity with the processing power of AI.
A prime example of that is the development of an AI program that brings together human artists to produce artworks that have been displayed in distinguished museums.
Healthcare
In the healthcare industry, we are seeing the increased use of drug discovery apps using Generative AI technology. It scrutinizes lots of datasets using AI models that assist pharmaceutical companies in ascertaining prospective drug candidates swiftly compared to customary norms.
Finance
We see financial institutions and banks utilizing Generative AI to improve customer experience with the help of chatbots that are AI-driven.
The amazing thing is that these chatbots use advanced AI algorithms that help them comprehend and answer questions posted by customers in a customized way.
This helps in enhancing the service efficacy.
Music
In the music industry, we are seeing music composers using Generative AI to create amazing compositions. These composers are also receiving lots of accolads for their compositions.
E-Commerce
In the e-commerce industry, companies have started putting efforts into understanding the inclinations of their customers. They do that by browsing their routine using AI models. This helps them send personalized product suggestions to the customers.
Moral Implications and Coming Challenges
With the introduction of Generative AI technology, there has been a negative use of this power. As a result, there is a rise in deep fake cases.
But, the problem is that the demarcation line between what is real and what is virtual becomes very challenging to decipher.
Only a few occurrences of deep fake cases have come up in recent times only because the person involved was a celebrity. Now, think for a second if a commoner gets affected by deep fake.
What kind of harassment will she have to face? This is where it becomes crucial to use this revolutionary technology in a morally correct manner.
We also hear concerns from professionals about the impact of this technology on their jobs.
This is especially true when generative AI technology can perform the said activity in a matter of minutes. The professionals are able to complete this activity in 6-8 hours.
Taking a cue from the things that have happened in the digital world with the help of Generative AI technology, our suggestion to professionals is to enroll in some upskilling courses.
This way, they can prepare themselves for future opportunities.
Final Words
Generative AI Consulting and Data & AI Consulting are paving the way for a bright future in the coming years.
But, there is still some scope to be vigilant enough to use this technology ethically.
By using this technology responsibly, we can set the right example moving head in time.
