What does Generative AI have in store for us?

A recent global McKinsey survey on the current state of AI confirms it – there is explosive growth of?Generative AI tools. Especially those that can be used to create new content such as audio, code, images, text, simulations, and videos.

One-third of survey respondents said their organisations are using Gen AI regularly in at least one business function, while a whopping 79% percent of respondents said they’ve had at least some exposure to it either for work or outside of work. Meanwhile, 22% said they are regularly using it in their own work. This is no fad – we’re on a new productivity frontier.

AI applications such as ChatGPT, GitHub Copilot, and Stable Diffusion are gaining traction for their broad utility. They can perform a range of routine tasks, such as the reorganisation and classification of data – but it is their ability to write text, compose music, and even create digital art that has grabbed the headlines.

While the most reported business functions using AI tools are marketing and sales, product and service development, and service operations such as customer care and back-office support, other industries are getting in on the action – healthcare for one.

Generative models could assist in drug discovery by predicting molecular structures with desired properties – they could also contribute to medical image analysis, helping in diagnoses and treatment planning.

The science world is already embracing Generative AI in a bid to accelerate scientific research by simulating complex phenomena and generating hypotheses based on large datasets.

Professional training could also be taken over by Generative AI. The technology can be used to create realistic simulations for training purposes, such as flight simulations for pilots or virtual medical procedures for doctors.

As for the hospitality industry, AI-powered chatbots and virtual assistants are already being used to enhance customer service by providing instant responses to guest inquiries and requests – as well as handling day-to-day tasks such as booking reservations and answering FAQs.

No matter what sector you are working in, the chances are you’ve started to see AI – or at least hear talk of AI – creep into your workplace. The time to get to grips with it is now.

As billionaire tech investor Mark Cuban puts it: “Artificial Intelligence, deep learning, machine learning – whatever you’re doing if you don’t understand it – learn it. Because otherwise you’re going to be a dinosaur within 3 years.”

https://www.mckinsey.com/capabilities/quantumblack/our-insights/the-state-of-ai-in-2023-generative-ais-breakout-year?stcr=1C71AB3E48114D90B6B8D4A0D1AB948D&cid=other-eml-alt-mip-mck&hlkid=1fa8f2fff9cf4bbd9c34f4841ac88bba&hctky=13441529&hdpid=3f0ff255-70cb-4f4c-bfa9-40743050b860