Generative AI is here: How tools like ChatGPT could change your business
Generative AI and other foundation models are changing the AI game, taking assistive technology to a new level, reducing application development time, and bringing powerful capabilities to nontechnical users.
In the spirit of this article’s topic, we asked ChatGPT—a generative AI language model that can create original content in response to a user prompt—how it would set the context. Our prompt to the system: “Write the opening paragraph for an article about how transformative generative AI will be for business, in the style of McKinsey & Company.”
The rise of generative AI has the potential to be a major game-changer for businesses. This technology, which allows for the creation of original content by learning from existing data, has the power to revolutionize industries and transform the way companies operate. By enabling the automation of many tasks that were previously done by humans, generative AI has the potential to increase efficiency and productivity, reduce costs, and open up new opportunities for growth. As such, businesses that are able to effectively leverage the technology are likely to gain a significant competitive advantage.
Not perfect but overwhelmingly impressive.
For us and many executives we’ve spoken to recently, entering one prompt into ChatGPT, developed by OpenAI, was all it took to see the power of generative AI. In the first five days of its release, more than a million users logged into the platform to experience it for themselves. OpenAI’s servers can barely keep up with demand, regularly flashing a message that users need to return later when server capacity frees up.