Generative AI: A Game Changer in Business and Society
User-friendly generative AI applications like ChatGPT, DALL-E, Stable Diffusion, and others are quickly making this technology accessible to businesses and society. The impact on organizations will be significant. Large Language Models (LLMs) can process huge data sets, potentially “knowing” everything an organization has ever known – its entire history, context, nuances, and intentions, as well as its products, markets, and customers. Anything expressed through language (applications, systems, documents, emails, chats, video, and audio recordings) can be used to drive innovation, optimization, and reinvention to the next level.
A whopping 97% of global executives agree that AI foundation models will enable connections across data types, revolutionizing where and how AI is used.
Adoption Cycle of AI Models
We’re at a stage in the adoption cycle where most organizations are starting to experiment by using foundation models “off the shelf.” However, the greatest value for many will come when they customize or fine-tune models using their own data to address their unique needs:
- Consume: Generative AI and LLM applications are ready to use and easy to access. Companies can use them through APIs and slightly tailor them for their own use cases through prompt engineering techniques such as prompt tuning and prefix learning.
- Customize: Most companies will need to customize models by fine-tuning them with their own data to make them widely usable and valuable. This will allow the models to support specific downstream tasks across the business. The result will be an increase in a company’s effectiveness in using AI to unlock new performance frontiers – enhancing employee capabilities, delighting customers, introducing new business models, and boosting responsiveness to signals of change.
Reinventing Work with AI Models
Companies will use these models to reinvent the way work is done. Every role in every enterprise has the potential to be reinvented, as humans working with AI co-pilots becomes the norm, dramatically amplifying what people can achieve. In any given job, some tasks will be automated, some will be assisted, and some will be unaffected by the technology. There will also be a large number of new tasks for humans to perform, such as ensuring the accurate and responsible use of new AI-powered systems.