Generative AI to transform businesses in 2-5 years

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Gartner’s prestigious Hype Cycle for Emerging Technologies 2023 has named generative AI as one of the top emerging technologies for 2023.

It predicts that generative AI, a type of artificial intelligence that can create new content, such as images, text, and music, will have a “transformational benefit” in the next two to five years, enabling new ways of doing business across industries.

For example, generative AI could be used to create personalized medical treatments, design new products, or generate realistic video game characters. It could also be used to create fake news and other forms of misinformation, so it is important to be aware of the potential risks of this technology.

This subgroup of artificial intelligence is presently at the “Peak of Inflated Expectations” in this year’s edition of the Emerging Technologies Hype Cycle. According to Melissa Davis, a Vice President Analyst at Gartner, the Hype Cycle architecture methodically analyzes the progress of technologies over their lifecycles. These cycles begin when a game-changing event, such as a public demonstration or product launch, sparks significant industry interest in a certain breakthrough.

This conception is referred to by Davis as the “innovation trigger.” At the apex of these “Inflated Expectations,” a rush of enthusiasm rises, exaggerating the innovation’s potential beyond its existing practical capabilities.

The sources for this piece include an article in TechRepublic.

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