The Promise of Generative AI

Has a technology ever been as eagerly promoted as generative artificial intelligence (GenAI)? Since 2022, when DALL-E and ChatGPT erupted into the mainstream, GenAI has moved from the IT department into the consciousness of every business executive. In Q1 2023, a whopping $1.7B was invested into GenAI startups as hundreds of millions of users adopted applications like ChatGPT and GitHub CoPilot.

Gartner forecasts that, by 2024, 40% of enterprise applications will have embedded conversational AI, up from less than 5% in 2020. And with this surge in publicity has come a number of myths: that GenAI can replace entire departments of software developers and copywriters, that it is the answer to every business problem, that it will make your digital transformation seamless and instant.

The truth, of course, is much more nuanced than that. GenAI is an extraordinarily useful tool, but businesses must understand what it can and cannot do, what benefits and risks are involved, and how best to engage with it.

This paper will help you distinguish the big promises from the realities.