ChatGPT won’t change everything, but Generative AI will.

ChatGPT exploded onto the scene in November 2022 - bringing generative AI to the forefront of public consciousness.?

Promising to revolutionise the way in which we generate content, it's no surprise that ChatGPT had “more than 100 million users within the first two months of its launch, and more than 13 million daily visitors as of 2023 .”?

With other companies scrambling to release their own forms of generative AI to compete with OpenAI, it's clear that this is more than a passing trend but rather something that is here to stay.?

While the software still has its challenges, there’s no denying that ChatGPT is the start of a Generative AI revolution which will be truly transformative, something digital leaders and business executives must be aware of.

It will transform organisations, from their structure to how they compete in the market, the challenge is to brave, lean in and embrace the change.

What is ChatGPT?

ChatGPT is a form of Generative AI developed by OpenAI. A ‘sibling model’ to their InstructionGPT software, ChatGPT, was designed to interact in a “conversational way” with users. On their website, they state that:?

“The dialogue format makes it possible for ChatGPT to answer follow-up questions, admit its mistakes, challenge incorrect premises, and reject inappropriate requests.”?

Users interact with ChatGPT in a ‘question and answer’ format. They input a question, demand or task and then wait for ChatGPT to draft a response. While response times vary depending on the user's request, this means that high-quality content, such as essays and reports, can be drafted in just a few short minutes.?

While it has varying capabilities, users have been relying on ChatGPT to curate a range of content, from cover letters to web copy. In January 2023, a study from Illinois Tech and Michigan State College of Law found that ChatGPT “achieves a passing rate on two categories of the Bar exam ,” which suggests that it is also set to revolutionise the education sector.?

However, there are many limits to this kind of software, given that it is still in its infancy. Nevertheless, while ChatGPT won’t change the world, Generative AI will.

What exactly is Generative AI??

Generative AI is a form of artificial intelligence that is designed to generate or create new content based on pools of data they already have at their disposal. At this moment in time, Generative AI software is predominantly used to create images, videos, text, write code, and more.?

While it may seem relatively new, this kind of software has been in the works for a long time. For example, “Generative AI has been an active area of research since the 1960s when Joseph Weizenbaum developed the first chatbot named ELIZA. ” In the decades that followed, millions have been invested into developing new forms of generative AI - each time creating models that are faster, more intelligent, and more capable than those that came before them.?

Moving forward, no matter which industry you work within, Generative AI is set to become the standard in all the tools we use to do our work. For example, it may be used to draft emails ahead of time, meaning that users no longer have to lose hours of valuable working hours to routine administrative tasks.?

How will Generative AI Change the world??

There are many ways in which generative AI is on the cusp of making real, meaningful change on a global scale.?

For business, generative AI has already made it easier to produce a range of promotional and marketing content - from adverts to product descriptions to web copy and just about everything in between saving both time and money.?

As such, it's no surprise that experts believe “AI should increase the productivity of knowledge workers more than 4-fold by 2030 .” When workplaces are more productive and efficient, they are primed for success.

Generative AI will also be a valuable asset to businesses dealing with ongoing staff shortages, as automation can be a force multiplier for both individuals and teams to fill shortfalls in capacity, deliver faster and at higher levels of quality.

However, there are some concerns relating to the idea of filling jobs with ‘computers and robots’ as opposed to people. While staff being replaced by AI solutions is less likely, staff being replaced with people who can use AI as smart tools to augment how they work seems likely. No matter how you cut it, there’s no denying that this software is useful and powerful. After all, generative AI can?provide business with access to the tools they need to successfully grow.

A recent report from USC speculated that Generative AI technology could be used to protect businesses (and individuals) from costly cyber attacks and threats. For example, “AI-based tools look for patterns associated with malicious computer viruses and programs before they can steal massive amounts of information or cause havoc. ” Considering the fact that “small businesses are collectively subject to almost 10,000 cyber-attacks a day ,” these kinds of applications democratise access to advanced capability.

Generative AI is also having an impact in Healthcare, especially when it comes to developing new medications and treatments. For example, Generative AI is currently being “trained to predict drug efficacy and side effects, and to manage the vast amount of documents and data that support any pharmaceutical product .” This means that treatments can go from the development process to the shelves of local pharmacies sooner, rather than later.

Who will benefit from Generative AI?

The short answer to the above question is everybody. AI will give us access to the tools we need to better manage our workload, to boost productivity, or even simply manage our day-to-day tasks.?

However, the organisations that are currently investing in the digital transformation will reap the most significant rewards and benefits. By adopting this software in its current stage of development, you can find the best possible strategies for implementing it within your business processes.

Now is the time for digital leaders and executives to put their data and knowledge to work through the use of generative AI technologies. Doing so will help you unlock the true power of ‘cognitive automation’.

Cognitive automation is a subset of generative AI, which refers to the way in which AI begins to mimic the way in which the human mind works, enabling them to perform new tasks. For example, the more cognitive automation advances, the easier it will be for businesses to use this software to their advantage, enabling staff to tackle more signficant problems spaces and better manage demand.

To put it simply, organisations should be paying close attention to systems such as ChatGPT, and similar models such as Google Bard (set for widespread release over the next few weeks), in order to determine their value within their companies. Failure to do so could mean that your business falls behind on current trends and opportunities, while others race to the front.

Final Thoughts.

You may have seen many reports detailing the fact that ChatGPT will change the world, arguably it already has. The underlying technology is what will be truly transformational.

Generative AI as a concept will change the world. On a smaller scale, it will change the way in which we work, whether we’re using it to write the perfect social media post, send out a company-wide email or design a bridge. In time it will transform organisations, from their structure to how they compete in the market, the challenge is to brave, lean in and embrace the change.