Artificial intelligence is growing literally with each passing day. We can see with our own eyes how algorithms are getting smarter and generating more precise and surprising answers. And do you know what is behind the intelligence and cleverness of generative AI solutions? How can ChatGPT generate a piece of code in any programming language, and how can DALL-E generate graphics, photos, or paintings in every art trend?
Generative AI is a set of algorithms that can generate brand-new, true-to-life content—such as pieces of text, colorful images, or audio samples — from the training data set. The most powerful generative AI algorithms are built on top of foundation models. The models are trained in a self-supervised way on a large quantity of unlabeled data to identify underlying patterns for a broad range of tasks.
Two of the most popular generative AI models are GPT-4 and DALL-E from the OpenAI laboratory. GPT-4 is a foundation model trained on large volumes of text. This model can be adapted to answer the questions, summarize the text, or analyze the sentiment. On the other hand, DALL-E is a multimodal foundation model that can generate an image from a text prompt. DALL-E can be adapted to generate new pictures, expand the existing images beyond their original size, or create variations of existing paintings.
Imagine asking a chatbot for the best deposit offer or chatting with artificial intelligence about which doctors you should visit with your symptoms. You don’t even have to imagine it because more and more institutions are becoming convinced to implement intelligent chatbots. AI tools easily replace telephone or e-mail consultants, directing customers to specialized employees who only deal with the identified need.
As if that was not enough, artificial intelligence does not stop and boldly enters the competence of well-educated people. Generative AI in architecture, in a few minutes, will prepare a preliminary design of the apartment, garden, or another architectural idea that the client sees with the eyes of his imagination. Generative AI can significantly improve customer service because people can almost immediately confront their ideas with reality. And when the visualization meets their expectations, they will be happy to receive better customer service from you.
How do you introduce artificial intelligence into your project without violating legal principles and exposing yourself to losses? First of all, pay attention to the issue of personal data processing. Solutions based on AI algorithms should comply with the GDPR, which means, among other things, that your tool should not request more data than is necessary to conduct a conversation or generate a specific work.
Generative AI in banking can enable chatbots to offer more tailored and customized financial advice. Artificial Intelligence algorithms can generate options based on customer investment goals and risk tolerance. By analyzing the historical investment choices of other individuals with similar qualities and risk tolerance, banking chatbots powered by Generative AI algorithms can suggest deposits or other options that may perfectly meet each individual’s expectations.
Generative AI in banking can be an excellent tool for identifying fraud and fraudulent activities by monitoring transactions based on specific data. If unusual activity is detected, the AI will be able to notify customers about the possibility of unauthorized access. AI learns to predict criminal behavior based on data that tracks user behavior, such as location, device, and operating system. The tool may request additional verification using security questions and passwords if unusual activity is detected.
The highest stake in the medical industry is in people’s lives. In order to identify patients’ health problems even more efficient and faster, solutions based on generative AI in healthcare may prove invaluable. Tools and chatbots significantly improve communication with patients and can easily perform initial verification of symptoms before the physicians. The ability to personalize and program the communication style of the bots guarantees that each contact between the customers and the medical facility will have a pleasant tone. Generative AI in healthcare will have no problem supporting patients who speak different languages, making the company stand out from the competition.
In addition, equipping the tool with comprehensive knowledge about the offer of a medical company is much faster and simpler than training one or several new employees. Well-learned generative AI in healthcare will be able to offer additional services unobtrusively and accurately and convince patients to perform further tests for the sake of their health.
You made a decision – you are going to use the benefits of generative AI in your project. There are several essential steps ahead of you that you should take so that artificial intelligence becomes a significant part of your team and wins the hearts of your clients. Check what aspects you need to pay special attention to and what you should avoid when implementing AI tools in your project.
Suppose you want to combine AI and machine learning with your project. In that case, you need to recognize the particular use cases of generative AI architecture that can be the most powerful for your offerings of products or services. These cases involve measuring the impact and implementation speed with elements such as the availability of data and models, tolerance of errors, and market demand.
If you are looking for integration of new technology, you need a clear perspective of where it can receive the most significant competitive advantage by integrating it into products and services. At first, you could review the benefits of generative AI on the existing product or service portfolio and review the client flows. Note that activities in business and implemented operating models might change over time, so you should be clear about which services or products have the largest value for your company.
As you know, ChatGPT can write valid and executable code. This is particularly useful for routine tasks like creating data models, user interfaces, and boilerplate code. If you decide on AI to generate some pieces of code, you will save time which will help you focus on more complex tasks that require human creativity. With the fierce development of AI technology, the benefits of generative AI in software development will be determined by its impact on the industry. AI has the potential in software development to automate complex processes, enhance the accuracy of applications, and improve the overall quality of software.
What do you think the future of artificial intelligence in business will look like? There are multiple benefits of generative AI for various companies from banking, healthcare, interior and other industries. By implementing generative AI architecture, you can optimize internal processes and later disrupt the market through new products and services. Therefore, business leaders must take the initiative by identifying high-value use cases and preparing people and policies for the change.
Soon AI will be an integral part of every single business, so if you adjust to the changes early enough, you will be one step ahead of all the companies frightened of the power of Artificial Intelligence.