With the ever-evolving technology of the 21st century, generative AI is among the most exciting innovations. Generative AI has the potential to generate numerous types of content and has aspects just about everybody can use. This futuristic technology may go beyond generation and can double as the most efficient way to store and retrieve information. For instance, ChatGPT3 uses 45 terabytes of storage, or the equivalent of 1 million feet of bookshelf space. Not only is this data stored in a much more space-efficient manner, but it can be retrieved significantly more easily.
Aside from being a means of storage, generative AI’s original means of function, generation, shows some commercially viable potential. It’s approaching utilization rates of 33% in sectors like legal services and telecommunications, while rapidly growing anywhere from retail goods to healthcare sectors. It has seen its most success in marketing with over 80% usage rates in things like email marketing. With a plethora of new AI’s and many ChatGPT alternatives being developed, some experts claim generative AI is yet to see its potential commercial realized. With data showing commercial interest, it’s inevitable that the power of generative AI will be harnessed to make more efficient and effective businesses.