Maximising the benefits of Generative AI for the digital economy

Whether it’s a new industry, tool, tech language or tech stack you want to gain greater knowledge in, generative AI can fast-track your access to this information. Doing so means that you can have more informed, accurate conversations with potential candidates and have meaningful, knowledgeable conversations with your hiring managers too. And when you’re building out your team, getting the right people engaged and interested in working for your company is key. One of the main candidate touchpoints you’ll use when recruiting for a role is the job description.

For example, a chatbot like ChatGPT generally has a good idea of what word should come next in a sentence because it has been trained on billions of sentences and “learnt” what words are likely to appear, in what order, in each context. If you want to know more about ChatGPT, AI tools, fallacies, and research bias, make sure to check out some of our other articles with explanations and examples. Microsoft learnt this the hard way when an early Bing chatbot genrative ai experiment was quickly manipulated into using racist and discriminatory language. So, should you wish to replace the subject of an image with something else, you can highlight the area and tell Dall-E what to put there instead, and the application will handle the editing for you. We’re still in the early days of exploring the potential benefits of GenAI, but initial results indicate a practically limitless application to every element of our digital lives.

Cutting marketing in a downturn is short-sighted – investment can be the key to growth

These models are not going to replace humans; they are just going to make us all vastly more productive. More importantly, you need to tune these models with your data in a secure manner, so, at the end of the day these models are customised for the needs of your organisation. Your data is the differentiator and key ingredient in creating remarkable products, customer experiences, or improved business operations. In health care, the legal world, the mortgage underwriting business, content creation, customer service, and more, we anticipate expertly tuned generative AI models will have a role to play. Imagine if automated document processing made filing your taxes simple and fast, and your mortgage application a straightforward process that lasted days, not weeks.

The ability to critically interrogate a provided response or output will become essential to verifying accuracy. Implicitly trusting that any provided image, code or text is drawn from trustworthy sources is a recipe for trouble, so be careful. This response can then be regenerated or refined with further text prompts until the user has what they need. The quality of the output largely depends on a well-constructed prompt – but the move to a familiar chat interface has now made generative AI much more accessible. The core benefit offered by generative AI, like any good technology, is the ability to speed up jobs and processes that currently consume a lot of time and resources. A development journey spanning decades has suddenly accelerated to deliver the likes of ChatGPT, Dall-E, and Google Bard into the mainstream.

Amazon Web Services

At the international level, G7 leaders recently announced the development of tools for trustworthy AI through multi-stakeholder international organisations through the ‘Hiroshima AI process’ by the end of the year. At the same time, China is working hard to show leadership both on AI investment, home-grown technology and regulation – addressing specific issues such as deep-fakes whilst seeking to minimise social disruption. For example, the Regulations on the Administration of Deep Synthesis of Internet Information Services focus on ‘deep fake’-type use cases as well as generative AI-based chat services. China has also issued for public consultation its draft measures on the administration of generative AI services. These targeted measures sit alongside important regional approaches, notably in Shanghai and Shenzhen.

Founder of the DevEducation project

Being a pioneer in technology with deep expertise in AI, blockchain, Generative AI, and other cutting-edge technologies like IoT, LeewayHertz is dedicated to helping companies navigate their most complex tech challenges and facilitate business growth. As a fast-growing entity, MOSTLY AI collaborates with multiple Fortune 100 banks and insurers in North America and Europe, showcasing unmatched expertise in aiding companies to derive business value from synthetic data created through generative AI. This is instrumental in helping companies adhere to privacy protection regulations, such as GDPR, and ensures the development of fair and unbiased models.

Using generative artificial intelligence (AI) for learning

There are, in particular, legal and reputational risks in relation to any customer receipt of AI output that has not been identified as such, or misleading statements relating to AI. China’s emerging laws relating to AI also include labelling requirements for certain AI-generated content. In the US, the Federal Trade Commission is focusing on whether companies are accurately representing their use of AI. Before using generative AI in business processes, organisations should consider whether generative AI is the appropriate tool for the relevant task. Factors such as cost will also have a role to play here, with the cost of generative AI system based searches currently far outweighing the cost of using, for instance, internet search engines. By doing so, businesses can validate and test automated workflows with human oversight and intervention before unleashing fully autonomous systems.

There is a growing demand for personalized, innovative, and creative solutions across various industries, from entertainment and advertising to healthcare and manufacturing. There are a wealth of industry predictions on the impact that AI will have on society between now and 2030, but the speed at which AI has started to impact our everyday lives makes me think that self-imposed deadline should be brought forward. Who knows what the applications of AI will look like next year, let alone in six-and-a-half years. Likewise, AI is a big issue for writers, especially with ChatGPT being used to write everything from law school and business school papers to legal briefs, with varying degrees of success.

The Art of Future Design — Part I: Framing, Assessing, and Identifying Relevant Contexts

Generative AI is the big trending topic right now, and understandably is featuring prominently in the news. The popularity of platforms such as Open AI’s ChatGPT, which set a record for the fastest-growing user base by reaching 100 million monthly active users just two months after launching is unquestionably on the minds of businesses globally. Imagine a world where machines can create art that rivals the works of renowned human artists, compose music that evokes deep emotions, or write stories that captivate readers. The purpose of any assessment is to measure what you have learnt and understood from the course being assessed. It is not possible to assess your understanding if you plagiarise, copy and paste text, use AI, paraphrasing software or essay mills. The University takes cases of academic integrity and misconduct very seriously and seeks at all times to rigorously protect its academic standards.