Generative artificial intelligence (AI) – defined by the World Economic Forum as “a category of AI algorithms that generate new outputs based on the data they have been trained on” – has created a great deal of hype about its potential. Commentary on generative AI varies from those who claim it will transform creativity and efficiency, to those who claim it will cause problems, such as replacing people’s jobs and uncertainties about the consequences of handing more tasks over to the technology.
To put this into context, Generative AI is being rolled out across multiple industries, with its success depending on multiple factors. Amid concern from some quarters about the safety and security of AI – and whether it will render many jobs obsolete – many businesses are finding positive, productive use cases for AI and effectively managing and mitigating the risks.
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