Although generative AI is not new as a concept, it is only since late 2022 when ChatGPT launched, that the technology has hit the mainstream. The sophistication and accessibility of ChatGPT and its successor GPT-4, as well as that of DALL-E (which is for images) and Google's Bard, have created both excitement and fear around its potential uses – and misuses.
Some commentators believe that generative AI will revolutionise work and society in ways that we're unprepared for or cannot yet imagine; some predictions even verge on apocalyptic. Others recognise the enormous potential of generative AI but believe that its development and impact on business will follow a pattern similar to all other transformational technologies: there will be a period of hype during which the possibilities are thought to be endless, but the hype will subside and people will become more realistic about the potential and the limitations of the technology.
Generative AI in its current form – impressively sophisticated and accessible to all – is only in its infancy and its full potential is still not fully understood. But setting expectations for its impact and planning accordingly is something that all business leaders should be thinking about. Will generative AI fundamentally change business operations and workforce requirements? Two experts have their say.