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50 Useful Applications of Generative AI in 2023 + Examples

Princeton University’s ‘AI Snake Oil’ authors say generative AI hype has ‘spiraled out of control’

Through machine learning, practitioners develop artificial intelligence through models that can “learn” from data patterns without human direction. The unmanageably huge volume and complexity of data (unmanageable by humans, anyway) that is now being generated has increased the potential of machine learning, as well as the need for it. Generative artificial intelligence (AI) is a type of AI that can provide users with human-like output to various questions or prompts.

This new tech in AI determines the original pattern entered in the input to generate creative, authentic pieces that showcase the training data features. The MIT Technology Review stated Generate AI is a promising advancement in artificial intelligence. They are trained on past human content and have a tendency to replicate any racist, sexist, or biased language to which they were exposed in training. Although the companies that created these systems are working on filtering out hate speech, they have not yet been fully successful. Machine learning is the ability to train computer software to make predictions based on data.

Training a generative model

This generative AI model provides an efficient way of representing the desired type of content and efficiently iterating on useful variations. The incredible depth and ease of ChatGPT have shown tremendous promise for the widespread adoption of generative AI. To be sure, it has also demonstrated some of the difficulties in rolling out this technology safely and responsibly. But these early implementation issues have inspired research into better tools for detecting AI-generated text, images and video.

This tool generates “pretty images” that are aesthetically pleasing rather than just functional. Upon understanding logical relationships between words in the prompt, these models are able to understand the instructions well and produce a coherent output. Such models can help fintech companies produce innovative trading strategies and predict future market trends. For example, Markov chain models can analyze past purchase histories to provide product recommendations customized to each customer’s preferences. Check out this super helpful generative AI tool that helps you create videos and customize them in a jiffy.

How generative AI can benefit business

The role of a generator is to fool the discriminator into accepting that the output is genuine. With the advancements of technology, such as the famous GPT-3 which we covered in a different article, many people are simply stunned. If you want to see it for yourself, there are web pages with images of people who never existed. All of us remember scenes from the movies when someone says “enhance, enhance” and magically zoom shows fragments of the image. Of course it’s science fiction, but with the latest technology we are getting closer to that goal.

How insurers can leverage the power of generative AI – Insurance News Net

How insurers can leverage the power of generative AI.

Posted: Thu, 31 Aug 2023 10:04:38 GMT [source]

Artificial intelligence has a surprisingly long history, with the concept of thinking machines traceable back to ancient Greece. Modern AI really kicked off in the 1950s, however, with Alan Turing’s research on machine thinking and his creation of the eponymous Turing test. Widespread AI applications have already changed the way that users interact with the world; for example, voice-activated AI now comes pre-installed on many phones, speakers, and other everyday technology. The most attractive use case of generative AI is a virtual agent that offers natural language conversation with customers.

AI existential risk: Is AI a threat to humanity?

If the company is using its own instance of a large language model, the privacy concerns that inform limiting inputs go away. Semantic Scholar is an invaluable resource for researchers seeking expedited access to emerging scientific knowledge. With a comprehensive index of over 2 million academic research papers, this AI-powered application swiftly extracts key insights, enabling users to stay abreast of the latest trends in their respective fields. However, by harnessing advanced technologies, including the integration of generative AI, farmers can overcome these hurdles and achieve optimized crop production, efficient resource management, and sustainable practices.

Founder of the DevEducation project
examples of generative ai

Of course, GenAI doesn’t just optimize the productivity of existing processes and activities. The technology lets HR reimagine how it serves talent, in turn changing the overall HR delivery model. Yet in the face of such change, the people function should always be cautious of GenAI’s many risks—especially when handling sensitive personnel information. For years, HR has been working to influence employee sentiment or decrease bias in real-time decision making. AI has the potential to further reduce the bias that exists in today’s processes—when done well.

Moreover, they can also enhance images by improving image quality, such as removing noise or improving color balance. Generative AI can be used to simulate different risk scenarios based on historical data and calculate the premium accordingly. For example, by learning from previous customer data, generative models can produce simulations of potential future customer data and their potential risks. These simulations can be used to train predictive models to better estimate risk and set insurance premiums. The benefits of generative AI include faster product development, enhanced customer experience and improved employee productivity, but the specifics depend on the use case. End users should be realistic about the value they are looking to achieve, especially when using a service as is, which has major limitations.

examples of generative ai

Facebook’s BlenderBot, for example,  which was designed for dialogue, can carry on long conversations with humans while maintaining context. Google’s BERT is used to understand search queries, and is also a component of the company’s DialogFlow chatbot engine. As a new technology that is constantly changing, many existing regulatory and protective frameworks have not yet caught up to generative AI and its applications. A major concern is the ability to recognize or verify content that has been generated by AI rather than by a human being.

He graduated from Bogazici University as a computer engineer and holds an MBA from Columbia Business School. Generative AI can be used to generate contracts based on pre-defined templates and criteria. This can save time and effort for procurement departments and help to ensure consistency and accuracy in contract language. AI can be used to generate onboarding materials for new employees, such as training videos, handbooks, and other documentation. A sitemap is a code that lists all the pages and content of a website in a structured format.

  • ChatGPT is an AI natural language processing chatbot developed by OpenAI that’s trained to “read” prompts and provide a human-like response.
  • Language models with hundreds of billions of parameters, such as GPT-4 or PaLM, typically run on datacenter computers equipped with arrays of GPUs (such as Nvidia’s H100) or AI accelerator chips (such as Google’s TPU).
  • We show some example 32×32 image samples from the model in the image below, on the right.

This can be useful for various applications, such as language translation and interpretation. You can also use generative AI models to create data and insights for your business activities. For example, using your proprietary data, a generative AI model can craft specific questionnaires for your  CRM platforms to gather user feedback. Auditors can interact with the model to discuss the genrative ai organization’s activities, control systems, and business environment. ChatGPT, for examples, can assist auditors assess risk levels identify priority areas for more investigation, and get insights into potential hazards. Product descriptions are a crucial part of marketing, as they provide potential customers with information about the features, benefits, and value of a product.

examples of generative ai

The output could include poetry, a physics explanation, an image, or even new music. Using generative models, AI can suggest new or alternative products to customers that they genrative ai might be interested in, based on their buying history and preferences. It can also anticipate their future needs and preferences, thereby improving the shopping experience.

Generative AI models can use the existing power of transformation to turn your data or prompts into something unique. As we mentioned before, generative AI models are pre-trained on general data sources in a self-supervised manner, which can then be applied to solve new problems. However, there’ll be other solutions and opportunities with generative AI, in which I’m leveraging my internal proprietary data and insights into the model that will give me strategic advantage over time.
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