The buzz behind Artificial Intelligence isn’t something new, but recently a category of AI- Generative AI has been making headlines. Growing at a CAGR of 19.8% between 2022-2027, generative AI has transformational capabilities that can influence a multitude of sectors in the days to come. It is being described as one of the most providential advancements made in the field of AI in recent years.
Unlike analyzing existing data sets and classifying them, generative AI utilizes semi-supervised to unsupervised machine learning algorithms to generate novel content. Currently, two models of generative AI that are widely acclaimed all across- Generative Adversarial Networks or GANs and Transformer-based models that use technologies like Generative Pre-Trained (GPT) language models- both abstract underlying patterns in input data to produce output content.
Startups garnering billions of dollars in investments, tech giants leveraging generative AI, and immense popularity in media are leading to an upsurge of hype creation around this disruptive technology.
Currently accounting for nearly just 1%, generative AI is predicted to be responsible for curating nearly 10% of all data by 2025. It is set to transform industries in advertising, gaming, and filmmaking in the days to come and substantially influence operations across levels of businesses.
From developing design iterations to cost-effective explorations, generative AI can prove to be an essential tool to create prototypes. For instance, IBM utilizes generative AI models for expediting the drug discovery phase at significantly lower cost and time. Reports suggest that more than 30 percent of manufacturers will be using generative AI to enhance their product development effectiveness by 2030.
Generative AI not only can prove to be instrumental for designing and manufacturing but has a lot of potential to boost marketing strategies. Similar to BMW’s advertising campaign where it used “StyleGAN” artificial intelligence software to generate a curated set of 50 works, businesses should explore leveraging generative AI to maximize their marketing effectiveness. From generating personalized outbound marketing messages to targeted advertisements, it can augment traditional marketing techniques to boost sales.
Present-day marketing demands increased levels of personalization and finely tuned levels of customer experience. Generative AI can be utilized for strengthening personalization regimes into marketing strategies as well as providing next-level customer service experiences. New Zealand-based startup Replikr is building intelligent life-like avatars to personify customer service experience in healthcare.
Generative AI though currently not a mature market, is set to influence business as seen today, from providing benefits like automatization to redefining operations. It will thus be of strategic importance for brands to be vigilant about advances in this booming field of technology.
Currently, economists are anticipating a substantial economic slump, which might have far-reaching effects for both B2B and B2C companies.
More than 85% of people over the age of 40, don’t feel represented enough in the ads they come across.
The global economy's economic trajectory appears to be on a bumpy course for the remainder of this year.
The methods through which a buyer can finish a transaction have been drastically transformed during the last few decades.
The microfinance industry in India has come a long way since its inception in 1974.
Last year, three out of every five orders placed through e-commerce platforms were transported to purchasers in Tier 2 cities and beyond.
The government of India has recently indicated that the country intends to attain a USD 5 trillion GDP by 2025
India is now witnessing one of the most vibrant consumption-led growth periods as seen in recent times.
Here’s why insurance crucial for enterprises so crucial for small and medium-sized enterprises.
The retail sector is seeing the undercurrents of change as consumers' buying preferences continue to shift quickly.
Customer behavior and tastes are currently driving industry changes.
SMEs find it extremely difficult to remain competitive in the fast-paced digital environment of today.
Ranking 4th among APAC countries and Top 10 In Global Cybersecurity Index 2020 Rankings, India has been immensely vocal about its cybersecurity ambitions.
One of the fastest growing and most complicated markets, energy markets are of major significance in the global economy.
Adaptive AI is a type of AI that can change its behavior and decision-making processes based on new information and changing circumstances.
2022 marked the highest inflation rate in some of the most advanced economies in the world.
This year has been described as a year of change. There has been a wave of disruption and turbulence that has earmarked certain trends that are going to influence the sectors in the days to come.
Companies that use market intelligence are twice as likely to outperform their competitors. Research shows that market leaders view analytics as a major differentiator.
Business Intelligence (BI) augments an organization’s capability in decision-making and drives business growth.
Business intelligence (BI) refers to the collection, analysis, and interpretation of data about a company's operations, markets, and competitors.
The banking industry is undergoing a period of rapid change, driven by advancements in technology and changing customer expectations.
India assumed its first-ever G20 Presidency on 1st December 2022 and will be hosting 200 events in 32 different sectors across 50 cities until the next G20 Summit to be held in New Delhi in September 2023.
Foreign Investment channeled into Asia has reached a record high exceeding $600 billion in 2021.
Technology remains to be the biggest trend for driving business transformation
In line with the United Nations’ Sustainable Development Goals 2030 and COP 27, as the countries pace up to meet the deadlines, similar trends are readily observed in the startup ecosystem.
Mobile Commerce or M-commerce is emerging as one of the most contending subsets of the E-commerce market.
The world is presently seeing the largest reallocation of capital in its history.
Sensory marketing, a subset of psychological marketing is all about appealing to one or more of your customer's five senses to uniquely position your brand or product, thus successfully driving their behavior, judgment, or perceptions
Valued at more than $5 billion in 2020, the global 5G technology market is growing at a CAGR of nearly 66% and is forecasted to reach a whopping $800 billion by 2030
United Nations Climate Change Conference more commonly referred to as the Conference of the Parties of the UNFCCC
Companies are readily seeking to envision a strategic
The Covid-19 pandemic has been instrumental to change
In this era of stupendous globalization,
Using digital technology is no longer meant for just driving solutions
The buzz around the term ‘blockchain’ gained gargantuan momentum in recent years.
Fintech is an umbrella term for describing all sorts of
The history of banking dates back to around 2000 BCE
The global economy is currently at an unprecedented level
Including more than 20 countries, home to nearly 60%
In recent years, there has been a trend in the emergence
In the wake of global market fluctuations and geo-political tensions
Two years ago, countries worldwide were concerned to overcome the pandemic
Metaverse- a term that first came up in Neal Stephenson’s 1992 science fiction novel - Snow Crash - which described life-like avatars meeting in realistic 3-D buildings and other virtual reality environments - is currently the favourite term of marketers.
Following the Covid-19 crisis, the alternative protein industry has seen a significant boost. The alternative protein market is anticipated to grow at a CAGR of 11.2% from 2020 to 2027 to reach $27.05 billion by 2027.
Historically being counted in the oil-country category, the United Arab Emirates (UAE) has been dramatically making its transition into being energy-focused yet finely attuned to technology.