As the world awakens to the potential of generative AI as a service, it’s essential to grasp its fundamentals, its impact on the business landscape, and how companies can capitalize on this groundbreaking technology. For years, data has been steadily accumulating in vast silos, thanks to the proliferation of digital devices, social media, e-commerce, and more.
We’re in the midst of a digital revolution with data at its core. However, having loads of data isn’t enough. It’s the interpretation, the analysis, and the actionable insights that truly matter. This is where artificial intelligence (AI), especially generative AI (or Gen AI), enters the stage. Over the past decade, there has been a significant rise in AI models that don’t just analyze data, but also generate content and responses based on data inputs using large language models (LLMs).
At its core, generative AI (or Gen AI) is a subset of artificial intelligence that focuses on creating new content. Unlike traditional AI, which often predicts or classifies based on existing data, generative AI creates entirely new data, mimicking the likes of human-written texts, music, images, or even speech.
A helpful way to start thinking of it is like the difference between reading a book (traditional AI) and writing one from scratch (generative AI).