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The World of Generative AI – Why GenAI?
The World of Generative AI – Why GenAI?

February 14, 2023

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“AI is the most profound technology we are working on today”

                                                                                         - Sundar Pichai, Alphabet CEO

According to MIT Technology Review, Generative AI is one of the most promising advances in the world of AI in the past decade. Generative artificial intelligence (AI) describes algorithms that can be used to create new content, including audio, code, images, text, simulations, 3D objects, and videos. It delivers innovative results without the biases of human experiences and thought processes.

The Global Generative AI Market Size accounted for USD 7.9 Billion in 2021 and is projected to occupy a market size of USD 110.8 Billion by 2030 growing at a CAGR of 34.3% from 2022 to 2030.

There were a lot of AI chatbots earlier, but they couldn’t make it. With the advent of technology and models like GPT-3 (Generative Pre-trained Transformer 3), AI is improvising itself and becoming better.

It can cater to lots of use cases like –

  • Q&A: Answering questions based on the existing knowledge
  • Grammar Correction: Correcting sentences into standard English
  • Sentence Completion: Suggesting phrases or words to complete sentences
  • Ad from Product Description: Converting a product description into an advertisement
  • Keywords: Extracting keywords from a block of text
  • Language Translation: Translating English into French, Spanish, etc
  • Image Generation: Generate and edit images
  • Coding: Explaining codes or auto-completing the codes

The recent sensation, ChatGPT (from OpenAI), is considered to be a more specialized version of GPT-3 which is suited more for chatbot and human-like text. ChatGPT uses language-based modeling. It analyzes the text data to provide word predictions. Voice assistants such as Siri and Alexa are examples of how language models help machines in processing speech audio. Google Translator and Microsoft Translate are examples of how NLP models can help in translating one language to another.

This is how Generative AI is becoming a game changer in society and is rapidly becoming one of the most exciting areas of the AI space.

Concluding this with an interesting text-to-picture tool for hands-on Craiyon. Play with it!


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Unnati Kohli
Technical Storyteller

Unnati is currently pursuing the flagship PGDM program at Management Development Institute, Gurgaon (2022-24). Now, she is a Strategy & Analytics Intern at Deloitte USI. Prior to this, she has 37 months of work experience as a Data Analyst in TCS in Telecom Network Domain. She also worked as a Technical Storyteller with Bloggers Alliance.

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