Executive Summary:
Generative AI is a new category of AI that allows machines to create something new rather than analyzing something that already exists. It has the potential to revolutionize every industry that requires humans to create original work, from social media to gaming, advertising to architecture, coding to graphic design, product design to law, marketing to sales. Generative AI has the potential to generate trillions of dollars of economic value by making workers at least 10% more efficient and/or creative. The market landscape for generative AI is expanding rapidly, and the platform layer that will power each category and the potential types of applications that will be built on top are described in the schematic below.
Key Insights:
1. Generative AI has the potential to revolutionize every industry that requires humans to create original work. Certain functions may be completely replaced by generative AI, while others are more likely to thrive from a tight iterative creative cycle between human and machine. This will unlock better, faster, and cheaper creation across a wide range of end markets.
2. Generative AI has the potential to generate trillions of dollars of economic value by making workers at least 10% more efficient and/or creative. The fields that generative AI addresses-knowledge work and creative work-comprise billions of workers.
3. The market landscape for generative AI is expanding rapidly, and the platform layer that will power each category and the potential types of applications that will be built on top are described in the schematic provided. As models continue to get better, faster, and cheaper, and model access trends towards free and open source, the application layer is ripe for an explosion of creativity.
Business Impact:
Generative AI has the potential to revolutionize the way businesses approach creative work and knowledge work. By making workers at least 10% more efficient and/or creative, generative AI has the potential to generate trillions of dollars of economic value. Businesses that embrace generative AI will be able to unlock better, faster, and cheaper creation across a wide range of end markets. However, businesses must also be aware that certain functions may be completely replaced by generative AI, while others are more likely to thrive from a tight iterative creative cycle between human and machine. As the market landscape for generative AI expands rapidly, businesses must stay up-to-date with the latest developments and be prepared to adapt to the changing landscape.
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