Answering the first of 7 most common questions executives ask us
We have spoken with hundred of executives in the last 6 months about generative AI.
I will answer the most common questions we hear and highlight the benefits of attending our Sep conference if you want to learn more.
Q1: What is generative AI? Is it real for business?
What is GAI?
Artificial Intelligence (AI) has been an extraordinary enabler of digital automation; within AI, a rapidly emerging subfield known as Generative AI is redefining what we thought was possible by leveraging advanced machine learning algorithms to create new content, autonomously, that never existed before.
Is GAI Real for Business? Absolutely.
Some stats:
According to the latest available data, ChatGPT currently has over 100 million users and the website generated 1.6 billion visits in June 2023. This user and traffic growth was achieved in a record-breaking three-month period (from April 2023 to June 2023).
By September 2023, generative audio tools will emerge and attract over 100,000 developers
By 2025, 30% of outbound messages from large organizations will be synthetically generated, up from less than 2% in 2022.
By 2025, generative AI will account for 10% of all data produced, up from less than 1% in 2021 (Gartner)
By 2025, more than 30% of new drugs and materials will be systematically discovered using generative AI techniques
An average of 79% of leaders report a cost decrease via AI adoption
It is the fastest adopted technology in human history. GAI is transforming software development, marketing, sales and customer service. According to a recent Gartner poll of over 2,500 executives 64% of GAI efforts are focused on driving revenue, sales, or marketing.
Need to know more?
Generative AI World’s Conference in Boston on September 12-13 is a Two Day Generative AI Bootcamp for Senior Executives, Board Members, Investors and Owners.
At the start of conference Shikhar Ghosh, HBS Professor ,will define and frame GAI.
I will present ChatGPT for Busy Professionals, a focused concrete session that has already taught thousands of senior executives what it is, and how it works.
At our conference you will hear about no less than twenty live case studies of real executives doing real work and dozens more from our online community, including Jerry, Coffee Labs, Tomorrow.io, Fidelity, Mayo Clinic, Mass General Brigham and more.
I will share thoughts on the other 6 top questions in subsequent posts.
How urgent is it for me and my firm (or my investments) to understand GAI now?
What are the costs and risks of GAI?
Where do I begin using GAI most effectively?
Should I build or buy my GAI efforts?
How should I organize to grow and scale my GAI capabilities?
How do I keep my talent and knowledge flow current for competitive advantage using GAI?
This is the 1st segment in our series of common questions executives ask about GenAI. The others are:
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