The 10 Best Generative AI Tools to Watch and Invest in 2024

Imagine a world where software could generate innovative ideas, craft compelling content, or design hyper-realistic images. That world is here, thanks to the emergence of generative AI tools, with ChatGPT paving the way.

If you're intrigued by these groundbreaking technologies, this article is for you. Designveloper will explore the rapid expansion of generative AI tools and showcase the top 10 players leading the charge. It's time to elevate your business with a new era of creativity, efficiency, and innovation!

Growth and Future of Generative AI Tools

GenAI tools provide a variety of benefits that are transforming various industries. These tools can generate human-like text, create realistic images, compose music, and even write code. They can also automate repetitive tasks, provide personalized content, and enable more natural interactions with machines. By leveraging these tools, your team can enhance their productivity, engage more customers, and drive innovation.

With these benefits, the global market of generative AI applications is growing at a high speed, with a projected CAGR of 39.6% from 2024 to 2032. This development is fueled by advancements in machine learning, the availability of large datasets, and the need for decision-making AI capabilities in businesses.

Besides this massive growth, DSV also observes the advent of key trends that can shape the future of this industry:

The Rise of Multimodal AI

Multimodal AI is becoming increasingly popular. One typical example of this model is Google Gemini. This model can process text, image, and voice data from multiple modalities within minutes. With this capability, it can help your business avoid human errors, foster decision-making in many tasks, and provide a more engaging user experience.

The Impact of Small Language Models

While large language models like GPT-4 have received much attention, there’s a growing interest in smaller models that are more efficient and accessible. Some typical SMLs include Llama 2 and Phi-2. These models can work on small datasets, run on lower-end hardware, and have lower carbon footprints. This makes them a sustainable option for deployment on smartphones or wearables.

The Evolution of Conversational AI

Conversational AI is evolving to become more interactive and context-aware.

According to AIM Research, we’ll witness increased use of conversation AI by 2024, with 40% of business apps integrating this tech.

These models can understand the nuances of human conversation, remember past interactions, and even exhibit a sense of humor. They accordingly help handle common issues, tailor customer support, and more to increase customer satisfaction. Also, they can expedite customer data analytics and offer meaningful insights to improve your business processes.

10 Leading Generative AI Tools for Your Business Success in 2024

You’ve understood the growth of generative AI applications these days. But which tools are dominating this industry? Let’s find it out.

ChatGPT

As a cutting-edge GenAI tool developed by OpenAI, ChatGPT uses advanced ML techniques to create human-like text based on the queries of users.

This AI model is trained on a diverse range of internet text, but it can also be fine-tuned on specific tasks to provide more accurate and relevant responses. For this reason, it’s widely used in customer service to handle queries, in content creation to generate articles, and more.

Key Features

• Context and Emotion Understanding: ChatGPT can understand the context of a conversation and provide relevant responses. Moreover, it can understand the sentiment in the text, allowing it to respond appropriately to the emotional context.
• Language Translation: It can translate text into multiple languages while maintaining the original meaning.
• Content Generation: ChatGPT can help generate articles, reports, and other forms of written content.
• Chat With Images & Voice: You can show ChatGPT your images and chat with the tool to troubleshoot issues, analyze the problem, and more. Further, you can use voice to join conversations with ChatGPT, even on the go.

Pricing

Apart from free accounts with unlimited messages, ChatGPT also offers three paid plans: Plus, Team, and Enterprise. The price starts from USD 20 per user if billed monthly. Besides, OpenAI also offers pricing plans based on language models, whether GPT-4 Turbo or Assistant AI.

Microsoft Copilot

Microsoft Copilot, formerly known as Bing Chat, is an AI assistant designed to help users retrieve information, answer questions, and engage in conversations. It uses advanced machine learning algorithms to understand user queries and provide accurate and relevant responses. It’s particularly useful in scenarios where users need quick access to information.

Key Features

• Multilingual Support: Copilot can understand and communicate in multiple languages.
• Content Creation: Whether composing a love song, building a personal website, or planning a vacation, Copilot can handle it with ease.
• Real-time Assistance: Copilot can provide real-time assistance, making it a valuable tool for instant problem-solving.
• Task Automation: It can automate repetitive tasks, increasing productivity.
• Integration Capabilities: Copilot can be integrated with various platforms and applications, especially Microsoft 365 Suite, to enhance the existing capabilities of these tools.

Pricing

Microsoft offers a free plan. But you can upgrade to Copilot Pro with premium features and better performance at USD 20 per user/month. Besides, enterprises can use Copilot for Microsoft 365 at USD 30 per user/month.

Gemini

Gemini, previously known as Bard, is a generative AI model developed by Google. Like other generative AI tools, Gemini applies advanced ML techniques to understand the nuances of human language. It accordingly can generate coherent and contextually relevant responses, making it a versatile tool in different business aspects.

Key Features

• Scalability: Gemini offers three model sizes to fit business tasks and user inquiries at any scale. Particularly, Gemini Ultra is the first model to surpass human experts on massive multitask language understanding (MMLU), hence possibly solving high-complexity tasks. Meanwhile, its Pro version is optimized to perform mid-range tasks (e.g., summarize texts or answer questions) and Nano is specifically for on-device tasks without connection to external sources.
• Customizability: Users can fine-tune Gemini according to their specific needs.
• Speech Recognition: Gemini can convert spoken language into written text, making it useful in applications like transcription services.
• Data Analysis: Gemini can analyze large amounts of data and provide insights, making it useful in data-driven decision-making.

Pricing

Gemini is free. However, if your development team prefers to have an AI-powered assistant to help build and run apps, you can consider Gemini Code Assist at USD 19 per user/month if billed annually.

DALL-E

If you want a powerful tool that can generate an image based on your description, DALL-E will be a perfect option. Released by OpenAI in January 2021, DALL-E can automate the process of creating visuals by creating realistic and creative images from text descriptions.

Key Features

• High-resolution Images: DALL-E can generate unique, high-quality images based on textual descriptions. This makes it suitable for professional design work.
• Creativity & Customization: It can create imaginative and innovative visuals beyond traditional design tools’ scope. Also, it can adapt to different styles in the description, providing a high level of customization.
• Versatility: DALL-E can be used in a wide range of applications. Whether you need visuals for your website, social media posts, or product designs, DALL-E can help.
• DALL-E
• Iterative Refinement: DALL-E can refine the generated images based on feedback, ensuring the final output meets the user’s requirements.

Pricing

OpenAI now offers two DALL-E versions. While DALL-E 2 no longer accepts new customers, you can access its third version through ChatGPT’s paid models or the OpenAI API. The price of DALL-E 3 depends on the image quality, resolution, and quantity.

Cohere Generate

Cohere Generate is a platform that utilizes the Command generative AI model to tackle text-based tasks for enterprises. Regardless of your experience with ML/AI, this tool helps generate text easily in your apps, thereby streamlining your workflow and potentially unlocking new creative avenues in writing.

Key Features

• Content Creation: Cohere Generate is a big help if you struggle with writer’s block or need help with specific content types. Like other generative AI tools, it can assist you in writing various forms of content (e.g., product descriptions or ads), potentially boosting your productivity.
• Text Classification: Cohere Generate can be fine-tuned for text classification tasks. This means it can be trained to analyze text and categorize it into specific groups, like sentiment analysis (positive/negative), spam detection, or topic classification (business, sports, etc.).
• Data Retrieval: Cohere Generate uses RAG (Retrieval-Augmented Generation) to extract relevant documents that support the accurate generation of new texts.

Pricing

Cohere offers free usage for learning and prototyping. If you move into the production phase, the price depends on model types (i.e., Command R+ or Command R), and input with output tokens.

Synthesia

Synthesia is among the best generative AI tools that create realistic virtual characters and environments for videos. This eliminates the need for traditional filming equipment or animation software. Accordingly, you can create professional-quality videos in minutes, not weeks.

Key Features

• Video Generation: Synthesia can generate high-quality videos based on user inputs, whether a product demo or a training video. This includes everything from the characters and their actions to the environment they’re in.
• Customizable Characters: Users can customize the appearance and behavior of virtual characters. This includes their clothing, facial expressions, and even their voice.
• Multilingual Support: Synthesia supports multiple languages, making it versatile for global businesses. You can create videos in your audience’s native language, improving engagement and understanding.
• Text-to-Speech: Synthesia can convert text into speech, allowing you to create voiceovers for your videos. This feature is particularly useful for creating explainer videos or tutorials.

Pricing

Synthesia provides a free plan. But if you want to access more advanced features and content, consider its paid plans: Starter, Creator, and Enterprise. The price starts from USD 22 per month if billed annually.

Murf

Murf is an AI-powered voiceover platform. It allows users to convert text into speech using a variety of voice styles and accents. With Murf, you can create professional-quality voiceovers for your videos, podcasts, and more, without recording studios or professional voice actors.

Key Features

• Text-to-Speech: Murf can convert text into natural-sounding speech. This includes everything from the tone and pace of the speech to the accent and gender of the voice.
• Variety of Voices: Murf offers a wide range of voice styles and accents, allowing you to choose the one that best fits your content. This level of customization allows businesses to create unique and engaging content that resonates with their audience.
• Easy Integration: Murf provides APIs for easy integration with other platforms. This means you can use Murf’s capabilities within your existing workflow, making it a seamless addition to your content creation toolkit.
• Customizable Speech: You can customize the speech generated by Murf, including the speed, pitch, and volume. This allows you to fine-tune the voiceover to match the tone and style of your content.

Pricing

Similar to generative AI tools, Murf also offers a free plan. To implement more projects and increase the time of voice generation, you need to upgrade to premium versions. They include Creator, Business, and Enterprise, starting from USD 39 monthly.

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Claude

Claude is an AI tool developed by Anthropic. It uses advanced AI techniques to handle vast amounts of data, streamline routine tasks, and more in a secure and precise way.

Key Features

• Advanced Reasoning: Beyond text creation and basic pattern recognition, Claude can carry out intricate cognitive tasks.
• Image Interpretation: It can decipher and analyze any static image, whether photos or graphs.
• Code Creation: The tool supports you in building websites in
• Language Processing: It can translate among various languages instantly, generate content in multiple languages, and even practice grammar rules.
• Scalability: Claude offers three models suitable for different demands. Haiku, the quickest model, can perform light tasks at high speed. Meanwhile, Sonnet is the most balanced in performance and speed for effective, high-volume tasks. Also, if you want to handle complex analysis, advanced coding tasks, and more, Opus is the best choice.

Pricing

Claude is available for free with certain usage restrictions. You can unlock more features and increase usage by upgrading to Claude Pro at USD 20 monthly, plus any applicable taxes for your area.

GitHub Copilot

GitHub Copilot is an AI-powered assistant designed to help developers write code. It uses machine learning to understand the context of the code being written and provides suggestions for completing lines or blocks of code.

Key Features

• Code Suggestions: GitHub Copilot can suggest whole lines or blocks of code as you type. This includes everything from simple code snippets to complex functions and algorithms.
• Multilingual Code Support: GitHub Copilot supports a wide range of programming languages, whether
• Learning Capability: It learns from the code you work on, improving its suggestions over time. The more you use it, the better it gets at understanding your coding style and preferences.
• Integration with GitHub: The tool is seamlessly integrated with GitHub, making it easy to use within your existing workflow. This means you can get code suggestions as you work on your projects in GitHub.

Pricing

Apart from a free plan, GitHub Copilot offers Team and Enterprise paid plans, starting from USD 3.67 per user/month.

Stable Diffusion

Making a big wave in 2022, Stable Diffusion is a cutting-edge GenAI tool in image generation. Besides high-quality, realistic images, the tool also utilizes advanced diffusion models to create videos, audio, 3D, and coding languages.

Key Features

• Text-to-image Generation: Stable Diffusion uses a script called “txt2img” to generate an image file based on a text prompt.
• Image Modification: It uses a script called “img2img” to create a new image based on the original image, incorporating elements from the text prompt. This script is also used for image upscaling, image compression, inpainting, and outpainting.
• ControlNet: This is a neural network architecture. It allows for the management and fine-tuning of diffusion models, while preserving the integrity of the original model and enabling training on smaller-scale devices.

Pricing

Stable Diffusion offers open-source and free codes to download and run on different platforms. But if you want to use Stable Diffusion’s products for commercial use, you must register a membership for at least USD 20 per month.

Conclusion

The future of your business is brimming with creative automation, and generative AI tools are your key to unlocking it. This article has equipped you with the knowledge of why generative AI is a must-have, upcoming trends to watch, and the top 10 tools leading the charge.

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