Opportunities and Challenges with Generative AI
Although artificial intelligence originated in academic research in the 1950s, only recently has it captured the imagination of the general public. This has everything to do with the release of ChatGPT, which put a powerful generative AI tool in the hands of individual consumers. But what are the opportunities it brings to businesses? And what are the challenges we face in using it?
I blogged about this back in February, not long after ChatGPT was released, in my post, ChatGPT for Industry Research: Not Ready for Prime Time. This was based on my early testing of the technology. Since that time, use cases by industry have started to surface, and there are many promising opportunities, just a few of which we discuss in my interview. But the risks and concerns still remain. How can we realize the opportunities, while minimizing the risks?
To answer these questions, I recently conducted a video interview with Harbor Rock Wealth Management on this subject. In this free-flowing conversation, the group discussed:
What is generative AI and how it is different from earlier forms of AI.
How individuals are finding uses for generative AI.
Some of the interesting business use cases for this technology, specifically in financial services, health care, and education.
Recent examples of the risks and challenges we face in applying this technology, such as factual inaccuracy and poor quality of output.
The likely impact of AI on jobs in the future.
Understanding the proper use of AI to realize the opportunities while minimizing the risks.
