Harnessing the potential of generative AI responsibly

THE advent of Large Language Models (LLM) like GPT and the slew of OpenAI integrations recently announced by Microsoft mark an inflection point for the democratisation of artificial intelligence (AI). It may feel like hype right now, but we believe 2023 is the year that AI will go mainstream – and what we are witnessing with ChatGPT and generative AI are the catalysts to drive AI’s global ubiquity, access, and adoption.

According to an IDC report, AI system spending in Asia-Pacific is expected to double from 2022 to 2026, hitting a high of US$46.6 billion. Furthermore, generative AI will produce 10 per cent of all data within the next two years, up from less than 1 per cent now.

Generative AI is monumental for businesses and society, as it can go beyond analysing or acting on existing data. Instead, it can cognitively generate synthetic data, such as blog posts, reports, programme code, artwork and videos. As such, ChatGPT’s ability to interact with the user conversationally, although impressive, is just the tip of what generative AI can accomplish.