Generative AI, or artificial intelligence that can generate content based on prompts, is everywhere. Seemingly out of nowhere, this technology can write detailed articles, debug code, create photorealistic images, compose music, design pharmaceuticals, and more, which places it very near the "peak of inflated expectations" on the latest Gartner Hype Cycle for Artificial Intelligence.
But skeptics beware. Generative AI isn't just capable of generating mind-bendingly thorough content; it's already doing it in ways that are changing how we work. McKinsey says that "business uses abound," including personalized marketing, generating operational task lists, reviewing code, summarizing legal documentation, and accelerating drug discovery. A study by the University of Pennsylvania and OpenAI estimates that "15% of all worker tasks in the US could be completed significantly faster at the same level of quality" using generative AI. And a survey of data scientists found that while just 28% of companies have implemented generative AI in 2022, another 48% expect to implement it in 2023.
Generative AI startups are multiplying, too. Even as venture capital funding overall dropped by 19% in the latter half of 2022, funding in AI startups increased by 15% in that same period. They're apparently eager to capture some of the market, which Goldman Sachs says could raise global GDP by 7% within 10 years, and PwC estimates will add $15.7 trillion to the global economy by 2030.
OK, you get the point. Generative AI is the talk of the century with an extremely fast adoption rate because it's easily applicable to nearly any task, versatile in that it can impact processes across departments and industries, and powerful in the types of content it can create and extract.
Now consider how generative AI can be combined with automation to open myriad new business possibilities and transform the speed and scale of how businesses are run.
However, leaders grapple with crucial questions while embarking on the generative AI journey. Questions such as how to foster team adoption, how to integrate generative AI into existing business processes and maximize ROIs, and how to use AI responsibly and avoid unforeseen consequences are some of the biggest AI puzzles leaders need to master.
That's exactly what we'll be exploring at a special 90-minute digital event coming June 1 at 8:00 AM Pacific / 11:00 a.m. Eastern.
I'm incredibly excited to invite you to join a team of experts and innovators from across automation and AI domains. The group will discuss how you can harness the combined power of these technologies to unlock the next wave of productivity. The event will include:
- A keynote with Mihir Shukla, Automation Anywhere CEO and co-founder, who will share the roadmap for automation plus AI and explain how you can use these technologies to unleash more business potential.
- The latest product innovations and how you can put generative AI to work with the Automation Success Platform, featuring a panel of subject matter experts led by Automation Anywhere's Adi Kuruganti, Chief Product Officer, Peter White, SVP, Emerging Products, and Claudia Michon, SVP, Product and Solutions Marketing.
- Live demonstrations of industry use cases to transform healthcare and financial services teams.
This event will be essential to those evaluating, leading, and participating in automation, AI, and generative AI initiatives. The insights learned will position you as a leader in driving the AI evolution and propelling your enterprise into the Automation Economy.