Generative AI is sometimes referred to as the next productivity frontier.
The latest generative AI applications can perform a range of routine tasks, such as the reorganization and classification of data as well as the ability to write text, compose music, and create digital art.
Cutting-edge applications such as these have made headlines and persuaded consumers and households to experiment on their own. As a result, a broader set of stakeholders are grappling with generative AI’s impact on business and society.
But the discovery of generative AI technology is just beginning. Studies suggest that generative AI is poised to transform roles and boost performance across functions such as sales and marketing, customer operations, and software development.
In the process, generative AI applications could unlock trillions of dollars in value across sectors from banking to life sciences.
Analysts contend that banking, high-tech, and life sciences are among the industries that could see the biggest impact as a percentage of their revenues from generative AI.
Across the banking industry alone, generative AI technology could deliver value equal to an additional $200 billion to $340 billion annually if the use cases were fully implemented.
In retail and consumer packaged goods, the potential impact is also significant at $400 billion to $660 billion a year.
Other experts in this area believe generative AI and other cutting-edge technologies have the potential to automate work activities that absorb 60 to 70% of employees’ time today.
The acceleration in the potential for technical automation is largely due to generative AI’s increased ability to understand natural language, which is required for work activities that account for 25% of total work time.
Want to learn more? Tonex offers Generative AI Training Course, a comprehensive cutting-edge 2-day course that covers the fundamentals of generative AI, including Natural Language Processing (NLP), Machine Learning (ML), and Deep Learning (DL).
The course is designed for beginners and intermediate learners, and it provides a solid foundation in the principles of generative AI.
The course also includes a number of hands-on projects that allow learners to apply the concepts they have learned.
For more information, questions, comments, contact us.