ChatGPT drew attention to generative AI when it hit 1 million users in five days. But how justified is the hype surrounding ChatGPT? Let's unpack what you need to know. How does generative AI work? Who are the main characters? Is ChatGPT ready for prime time? And most importantly, how will technology change the way we do business?
What Exactly is Generative AI and Why Should You Care? Generative AI is artificial intelligence that creates content from simple cues and context. Everything from attachments to 3D objects can be created with this new technology, and new models can even combine more than one function.
According to PitchBook and the National Venture Capital Association (NVCA), generative intelligence accounted for less than 1 percent of all US venture capital (VC) funding in 2022. hot market and great growth hopes.
What is ChatGPT and how does it fit into the equation? ChatGPT is a conversational AI model created by OpenAI (GPT stands for Pretrained Generative Transformer). It was released as a proof of concept on November 30, 2022, reached 1 million users in five days and exploded in public. Despite the excitement, many limitations and challenges remain, and OpenAI CEO Sam Altman cautioned against ChatGPT on Twitter:
Generative AI models shape our thinking by relying on algorithms that “learn” with each use. They start with millions of tagged images, texts or other media and gradually discover patterns that enable them to understand and create content themselves. People often adjust the model as it evolves. While OpenAI is the most popular AI company, it's not the only one.
The creative industries have already started to change workflows thanks to generative AI. Copywriters, designers, programmers, photo and video editors, and even strategists now have access to AI-powered tools that can make their daily tasks easier. However, this can bother some businesses and cause kickbacks for accuracy, fairness, and plagiarism.
Generative AI represents a revolution in communication that will make discovering, creating and testing content much easier. And the change will likely come faster than past content revolutions. Want to learn more about ChatGPT and Generative AI? Click here to purchase the full report and use code CHATGPT50 for a $50 discount.