Generative AI - Is it worth the hype?

In recent years, a buzzword called generative AI has taken the internet by storm. According to Statista, there has been a 1300%?astounding rise of search appearances across internet related to Gen AI in last one year. Tech giants across the world are busy rolling out latest and enhanced versions of generative AI.

A very pertinent question arises, why there is so much of hype related to generative AI; tall claims are being made that generative AI is going to disrupt the way we study, and work and some media reports are stoking fear amongst working class that gen AI is going to render many jobless. Let us dive deeper into this mystery:

Generative AI is a subset of AI (not America and India recent bonhomie); AI here means Artificial Intelligence. Gen AI is a kind of deep learning which is built on Large Language Models (LLMs); they are algorithms trained on massive amount of datasets and these models run up to 10 trillion words in size. Gen AI can produce various type of contents like text, audio, synthetic data and imagery. Let us see an example of Gen AI?

The above picture implies that an algorithm in which large amount of pictures of dogs are fed into the model; when prompted; the model generated a picture of a dog basis the data which was fed into the model, this is an example of gen AI which produced a picture; likewise, a well-trained gen AI model can generate text, audio and images.?

Suddenly, you see new gen AI tools are popping out every other day and they have become a 'viral sensation'. Some of the examples are.

?ChatGPT by OpenAI- In response to text prompts such as questions or instructions, it will output text in any form, including poetry and even computer code.

Dall-E 2 by Open AI - It takes text prompts and transforms them into computer generated images

Sounddraw - It lets you create music by taking text prompts in the form of your favorite genre, favorite instruments, your mood without copyright issues.

Many other tech giants have also unveiled their gen AI versions after chat GPT shook the world. For instance, Google launched BARD, Microsoft launched new Bing and many other are mushrooming all around.

Let us focus on main question; Is it worth the hype?

• Impact of generative AI will grow as enterprises discover more applications of gen AI; the benefits will include faster product development, enhanced customer experience and improved employee productivity.
• Gen AI is rapidly evolving and more use cases are emerging.
• Gen AI will affect many industries ranging from pharmaceutical, manufacturing, media, architecture, interior design, engineering, automotive, aerospace, defense, medical, electronics and energy industries by augmenting their core processes.

While it is true that gen AI is creating lot of hype when it comes to usage. However, the hype will subside as more and more industries augment AI in their core design and processes. Use of gen AI comes with many risks like other new technologies which needs to be looked into by ensuring adequate guardrails when implementing such AI models.

It is worth interesting to note that gen AI will have a strong impact on individuals and enterprises over the next five years. Gen AI will augment many mundane tasks and humans can focus more on solving complex problems.