15/12/2023
Reflecting on the advancements in Generative AI from October 2022 to October 2023, it’s clear that we’ve made significant strides in just one year.
In 2022, generative models were improving, creating better images, writing high-quality software code, and generating long stretches of coherent text. However, by 2023, Generative AI had its breakout year.
The latest annual McKinsey Global Survey confirmed the explosive growth of generative AI (GenAI) tools. Less than a year after many of these tools debuted, one-third of survey respondents said their organizations were using GenAI regularly in at least one business function.
Moreover, Gartner predicted that by 2026, more than 80% of enterprises will have used GenAI application programming interfaces (APIs) or models, and/or deployed GenAI-enabled applications in production environments, up from less than 5% in 20233.
Three innovations projected to have a huge impact on organizations within ten years include GenAI-enabled applications, foundation models, and AI trust, risk, and security management (AI TRiSM).
It’s fascinating to see how quickly Generative AI has evolved and been adopted across various industries. Here’s to another year of remarkable advancements!
