In recent months we have seen a steady rise in Generative AI, but many people may still wonder what it is and how it works. The answer is quite simple.
Generative AI refers to artificial intelligence capable of producing original content based on data available on the internet. That content can be text, images and even entirely new music. Most of us have already interacted directly with generative AI, since it is the core premise of ChatGPT and many other platforms.
The key question is how this type of artificial intelligence, which differs from traditional AI (used in companies alongside machine learning, for example), can impact the business of large enterprises.
First, it is worth considering key data pointing to large-scale enterprise adoption of artificial intelligence over the next four to five years, according to Forbes.
Some companies already say they will use AI-generated components in their projects, a move on the radar of at least 25% of G2000 companies, the world's leading global enterprises. Other data shows that, while it is still early, companies are already evaluating generative AI for data interpretation and decision support.
What companies expect from generative AI:
As early as mid-2020, Gartner listed artificial intelligence as a trend for the coming years, and in 2022 it predicted that Generative AI would scale rapidly and soon.
Indeed, between late 2022 and early 2023 we were introduced to ChatGPT. Gartner expects the hype around this technology to cool over the coming months or year, but it also notes that this technological leap is just getting started and that we will soon see it grow across the enterprise.
Gartner is not alone in this view. As mentioned earlier, outlets such as Forbes have made several similar predictions, noting that this disruption is here to stay and that we must pay close attention.
Firms such as BCG (Boston Consulting Group) also expect generative AI to play an important role in the years ahead, enabling companies to analyze and interpret data with this technology.
Revolutionary as it is, this technology does not solve every business problem. Human review of information produced by Generative AI remains essential, since errors and accuracy gaps can occur, but the gains it delivers outweigh the risks.
It is also important to assess how it will be used in each scenario. In a recent Gartner survey, 38% of executives said they plan to use generative AI to build customer loyalty and better understand their customers, and 26% plan to create new products from the insights it generates.
Opportunities to use generative AI:
Generative AI can be applied broadly across companies and industries. Below are some of the key areas.
Product development: where some companies once needed months to bring a new product to market, generative AI can cut that time in half, streamlining a range of processes and making decisions more accurate and confident.
People: AI will routinely save time on specific tasks. Reviewing lines of code for bugs or loose ends used to take hours of an employee's time; with generative AI that time will shrink. Most professionals will also need to know how to work alongside AI, framing their requests and projects clearly so the technology can understand them.
Data: by interpreting data, AI will be able to identify patterns, delivering deeper and broader data visibility. Of course, all this data must be organized in an architecture that makes it possible.
Finally, it should be clear that generative AI used in internal environments will depend largely on data to draw inferences and deliver relevant, useful information for teams' day-to-day work.
In addition, as mentioned earlier and emphasized by Gartner, AI-generated information must be validated and verified. That means teams cannot neglect organizing and streamlining their data so this can happen quickly.
All of this can be achieved with platforms that democratize data and synthesize the information that matters. This is where companies can gain significantly by combining generative AI with Starburst, ensuring the data these AI systems produce is verified quickly and securely.
To learn more about generative AI and how it can integrate with data platforms, contact Digiage!