It is based on algorithms that enable computers to create content from previously available content. What we have seen so far is the ability of machines to analyse data, find patterns and use them to draw inferences and make predictions. With Generative AI, machines are starting to create new artefacts and they are getting better at it by the day. These algorithms can produce a variety of novel content such as images, video, music, speech, text, software code and product designs.
As per Gartner, Generative AI is expected to change, among other things, digital product development. It will increase the quality, performance, and accessibility of digital products while reducing their time to market. This is among the many commercial benefits of Generative AI, apart from its sheer magical quality. Gartner predicts that:
- by 2025, Generative AI will be producing 10 per cent of all data (now it's less than one per cent) with 20 per cent of all test data for consumer-facing use cases.
- by 2025, 30 per cent of outbound messages from large organisations will be synthetically generated.
- by 2025, Generative AI will be used by 50 per cent of drug discovery and development initiatives.
- by 2027, 30 per cent of manufacturers will use Generative AI to enhance their product development effectiveness.
HOW DOES IT WORK
Generative AI is a field of machine learning that uses models, both unsupervised and semisupervised. These algorithms enable computers to use existing text, images, code and audio/video files to create new content by analysing and clustering unlabeled datasets to discover hidden patterns in data without the need for human intervention.
This story is from the February 11, 2023 edition of Businessworld India.
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This story is from the February 11, 2023 edition of Businessworld India.
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