2022 was certainly the breakout year for the field of Generative AI. For those unfamiliar, Generative AI is a branch of artificial intelligence that deals with the creation of new content by employing machine learning. This can take the form of written text, images, music, or even videos, the key being that the technology is what brings the creator’s ideas to life. OpenAI’s ChatGPT and DALLE-2 stand out as stars in the space, enabling and empowering everyday users to maximise on these technologies.
Yet this marks only the beginning with analysts already predicting that the industry will balloon to become a $110 billion industry by 2030. While generative AI’s popularity still situates itself with tech experts, its technology is becoming more refined and user-friendly and the number of platforms integrating these capabilities expands. For this reason, we can expect to see more adoption of the tech by everyday users and we head into 2023.
With applications ranging from writing emails, sales pitches, or product recommendations to creating concept art, manufacturing models, or publicity materials, Generative AI has the potential to democratise entire industries. This empowers creatives to become artists without having to spend years mastering a specific craft. For example, an up and coming rapper who spends most of her time mastering music production, can utilise generative AI to produce a detailed piece of cover art without hiring a graphic designer or having to learn the skill themself.
This is a key benefit of Generative AI; its ability to save time, money, and hassle on repetitive or mundane tasks. But within the next year, we expect to see a major increase in quality due to increased data availability, improved algorithms producing more sophisticated models, better optimization techniques, and more efficient training methods, better and stronger hardware, and tailored software.
From a slightly less creative and more corporate perspective, AI’s growing ability to conduct two way conversations will mean that businesses can free up their human employees to focus on more complex or nuanced tasks. Additionally, AI-powered customer service agents can handle a high volume of requests at once, making them an efficient and cost-effective solution for businesses.
A common response to the growth of AI is that it might spark another industrial revolution by means of job losses; “if AI is on the phone with customers, then where are those customer callers going to work?” In actuality, the growth of generative AI could easily, and most probably will, open a plethora of new job opportunities. It is most likely to create new job opportunities for those who are skilled in using the technology. Just as the invention of the camera led to the professional photographer, and the invention of the record player brought forth the DJ, the emergence of generative AI will introduce new professions. For example, “prompt engineers” who are skilled at writing descriptions that produce desired results from generative AI tools could become in high demand.
Additionally, the emergence of generative AI could also lead to an increased need for professionals with strong creative skills, such as storytellers, character creators, and visual directors. These professionals will be key in making the most of what generative AI has to offer and ensuring that the results produced by the technology are of the highest quality. Power to the creatives!
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