GENERATIVE AI

WHY IN NEWS ?

• Generative Artificial Intelligence (GenAI) is creating waves all over the world, enabling ChatGPT to race to 100 million subscribers in an unprecedented two months.

WHAT IS GenAI ?

• Generative AI refers to a category of artificial intelligence (AI) algorithms that generate new outputs based on the data they have been trained on.
• Unlike traditional AI systems that are designed to recognize patterns and make predictions, generative AI creates new content in the form of images, text, audio, and more.

• Generative AI is powered by foundation models (large AI models) that can multi-task and perform out-of-the-box tasks, including summarization, Q&A, classification, and more.
• These systems have been trained on massive amounts of data, and work by predicting the next word or pixel to produce a creation.
• With minimal training required, foundation models can be adapted for targeted use cases with very little example data.

BENEFITS AND APPLICATIONS OF GenAI:

• The benefits of generative AI include faster product development, enhanced customer experience and improved employee productivity, but the specifics depend on the use case.
• The speed and automation that generative AI brings to a company not only produces results faster than they would ordinarily be produced, but it also has the potential to save businesses money.
• Generative AI processes vast content, creating insights and answers via text, images, and user-friendly formats.

• Generative AI can be used to write news articles, poetry, and even scripts. It can also be used to translate text from one language to another.
• AI can automate repetitive and time-consuming tasks, and help humans make faster and more informed decisions by processing and analyzing large amounts of data.
• AI tools can free up time for humans to focus on more creative and value-adding work.

CHALLENGES OF GenAI:

• Tools like ChatGPT and DALL-E were trained on content found on the internet thus their capacity for plagiarism has become a big concern.
• Generative AI systems also tend to get things completely wrong. Their propensity for “hallucinations,” or creating information that is factually inaccurate, can lead to a mass spread of misinformation.
• Generative AI creates artifacts that can be inaccurate or biased, making human validation essential.
• There are a number of platforms that use AI to generate rudimentary videos or edit existing ones.
• There are currently no verifiable data governance and protection assurances regarding confidential enterprise information.
• Generative AI uses significant amounts of electricity.

POPULAR GENERATIVE AI TOOLS

• ChatGPT: ChatGPT is an AI-powered chatbot developed by OpenAI, with a unique ability to not only generate written content but also converse with users fluently.
• DALL-E 2: Also created by OpenAI, DALL-E 2 can generate realistic images with nothing more than a short text prompt thanks to a process called diffusion, which begins with a pattern of random dots that gradually form an image.
• Bard: Bard is a generative AI chatbot created by Google, based on LaMDA language model technology. It can answer questions asked by users or create new content from text or image prompts.
• Midjourney: Midjourney is a text-to-image generator that produces pieces that are so impressive that it is the only platform of its kind to win an art competition.
• Jasper: Jasper offers one of the most comprehensive suites of tools for writers today, helping them not only generate text, but also optimize and rank their content. It also has a separate AI art generator and chatbot function.

WAY FORWARD:

• Generative AI is poised to usher in a new wave of interactive, multimodal experiences that transform how we interact with information, brands, and one another.
• The costs for generative AI will range from negligible to many millions depending on the use case, scale and requirements of the company.
• Small and midsize enterprises may derive significant business value from the free versions of public, openly hosted applications, such as ChatGPT, or by paying low subscription fees.