Generative artificial intelligence is artificial intelligence capable of generating text, images, synthetic data, or other media, using generative models. Generative AI models learn the patterns and structure of their input training data and then generate new data that has similar characteristics.
Generative AI has already
seized the imagination of the
consumer. The public release of
models that can convert text to images
or respond coherently to user prompts
captivated and even startled many. As
the Generative AI marketplace grows,
consumers are increasingly exposed to
Generative AI-enabled search, educational
tools, and a range of free and paid services.
For businesses in the consumer industry,
Generative AI holds vast potential for
improving and enhancing interactions,
from helping consumers understand and
find the products they need to accessing
better, more real-time support to
promoting brand loyalty.
Among Generative AI’s exciting capabilities
for the consumer industry is the ability to
automatically create compelling content on
demand and at scale. With Generative AIcreated text, images, marketing campaigns,
product offerings, and more, businesses can
hyper-personalize customer engagement across
a multitude of markets and channels. There
are also emerging opportunities for improving
business operations and meeting enterprise
goals. The rapid tempo of decision making in the
consumer industry demands faster analysis of
enterprise data, including structured information
(e.g., sales) and unstructured information (e.g.,
customer feedback and design trends). Given
the scale of the data, as well as the reality that
data is sometimes siloed or geographically
dispersed, Generative AI can help business
users more rapidly and easily query datasets,
find the right answers when they are needed,
and understand their market at a level of
granularity and speed that was previously
unachievable. All of this moves toward improved
decision-making that drives greater cost
avoidance, labor efficiency, positive customer
interactions, and measureable ROI.
Today, Generative AI is beginning to be built into
the technology solutions that run consumer
businesses. As it becomes more accessible,
companies will continue exploring the potential
use cases and deployments that can drive topline and bottom-line benefits. Looking ahead,
when Generative AI is combined with human
oversight and governance, as well as other
complementary technologies (e.g., traditional
machine learning), it will likely sit at the core of
consumer businesses ( https://www2.deloitte.com/content/dam/Deloitte/us/Documents/consulting/us-ai-institute-gen-ai-use-cases.pdf ).
In this video, once again, I just choose to do tiny laps in the breezeway of my apartment building. It is too wet and slippery out in the parking lot.
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