Deploying GenAI: How to Avoid Pitfalls and Generate Possibilities
Techstrong.ai, Tuesday, July 23rd, 2024
When it comes to business, generative artificial intelligence (GenAI) is more than the 'new shiny,' it's a competitive edge and a path to the future.
It will create new written, visual and audio content in a snap. It can digest and summarize mounds of complex data, discovering valuable trends that would have been missed. It can generate code, handle repetitive tasks in the back office and out front and drive new levels of customer service.
A joint study by professors at America's top business schools found highly skilled employees who use GenAI can experience as much as a 40% boost in performance over those who don't. Not surprisingly, analyst projections are also promising as Gartner estimates by 2026, more than 80% of enterprises will be using GenAI APIs or AI-enabled applications. Bloomberg Intelligence expects the GenAI market to explode, growing from a market size of just $40 billion in 2022 to an astounding $1.3 trillion by 2032.