How is Generative AI impacting business?
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I confess that I was very bullish, and after 6 months I am stating to see the limitations. While there are meaningful use cases, ROI is are around those use cases that can access the right proprietary data (with right quality) otherwise is a commodity play, with definitely short term ROI, far from being a sustainable advantage. E.g. I have a portfolio of 35 experiments, use cases of different expected value/complexity. Today only 2 are really game changers, the rest is great ROI short term but anyone can do (still love them!).
Content generation, documentation, code generation, virtual code pairing.
Going forward we expect that it will be involved in most if not all of our workflows
1. Giving more leverage to data
2. New insights into how to perform analytics in a better way
3. Automation of redundant reports.
4. Content generation
Making it easier for users to work with large content sets like regulatory changes
We have a long ways to go with Generative AI. A long ways to go in terms of ability to provide these tools enough data to train on, the ability for people to create new things without needing to provide a specific prompt (this is likely to occur sooner rather than later), and in terms of overcoming bias. That said, it is exciting to see this type of solution in play now and shows people the power of AI. The most impactful aspect of Generative AI I believe will be the ability to create new knowledge and create new prototypes of things quicker and faster than before.