Generative AI is transforming how we work. Accessible. Intuitive. Adaptable. GenAI has the potential to overcome long-standing business challenges and revolutionize how we use and think about technology.
Companies like OpenAI and Google have developed intuitive GenAI platforms that empower users to generate meaningful responses to hard questions instantly. This rapid usability has captured the imagination of individuals, governments, and business leaders around the world.
Nearly 60% of companies have purchased or plan to buy at least one GenAI tool this year, according to a survey by Writer, an enterprise-focused GenAI company. Business leaders must now figure out how they will use those tools to spread the benefits of AI throughout their organizations.
To unlock the full power of GenAI, enterprises must foster an environment of creativity and experimentation. Encouraging teams to explore novel use cases and take intelligent risks will lead to innovative applications and positive outcomes. But embracing generative AI requires a proactive approach to organizational transformation and the adoption of scalable solutions that meet unique business demands.
While the benefits of GenAI are immense, business leaders must navigate this evolving landscape carefully. Prioritizing security and privacy measures, as well as addressing legal and ethical concerns is essential. Collaborating with experts and professionals is also crucial for successful AI implementation—leveraging their knowledge and experience can ensure solutions align with human values.
Every organization must develop its own approach to GenAI by focusing on business-specific needs, experimenting, exploring, and striking a balance between the risks and rewards of this transformative tech.
Moving from science projects to industrial-grade applications
GenAI is already transforming how we work, and OpenAI's ChatGPT is the fastest-growing web platform ever.
The key is accessibility.
"[This technology] wasn't accessible to 99% of the population, but now it's accessible to anyone," says Ryan Ries, PhD, Practice Lead for Data, Analytics, and Machine Learning at Mission Cloud, a managed cloud services provider that specializes in AWS.
Advancements in cloud platform technologies have also played a major role in improving accessibility.
"A few years ago, you'd have to go build half a data center in order to start tinkering," says Cameron Turner, Vice President, Data Science at Kin + Carta. That's no longer the case, as cloud service providers (CSPs) such as Azure, Amazon Web Services, and Google Cloud Platform scale seamlessly from free tier to enterprise-grade.
This ability to explore and experiment, Turner says, will have a massive impact on innovation.
"Across AI, whether it's computer vision, generative AI, machine learning or recommendation engines, you can start to tinker with these things immediately, then put them together in unique ways, you can create novel applications that generate real revenue."
One of the most exciting elements of GenAI is that it offers a fresh approach to addressing long-standing challenges, such as content generation, personalization, and predictive modeling. For example, Bloomberg has developed its finance-focused BloombergGPT, while Salesforce unveiled Marketing GPT and Commerce GPT offerings.