GenAI has become a focal point of discussions across all circles

"GenAI," or General Artificial Intelligence, indeed represents a significant focal point of discussions across various circles, including technology, ethics, policy, and society as a whole. Today, India has positioned as the world’s third-largest startup ecosystem, too, seems to be on AI steroids.

General Artificial Intelligence refers to AI systems that possess human-like cognitive abilities and can perform a wide range of tasks across different domains. The potential impact of such advanced AI systems on industries, economies, and societies is profound, sparking discussions about the opportunities and challenges they present.

GenAI has become a focal point of discussions across all circles, as OpenAI’s transformational large language model (LLM), GPT-3, and everyone’s favourite AI chatbot, ChatGPT, broke multiple records in the recent past.

With its ability to generate text, images, audio, and now video (with OpenAI’s scarily realistic large vision model Sora), companies are automating content-related processes faster than the Covid-induced digitization push. As LLMs become better and more sophisticated, both big tech giants and small startups are racing to create the next big AI tool.

As per ‘India’s Generative AI Startup Landscape, 2023’ report, the country’s GenAI market is expected to grow exponentially in the next few years, surpassing $17 Bn by 2030 from $1.1 Bn in 2023, growing at a CAGR of 48%.

Policymakers and regulators are grappling with how to govern the development and deployment of General AI in a manner that promotes innovation while safeguarding against potential risks and ensuring that AI systems align with societal values and norms. Discussions focus on the need for responsible AI governance, standards, and regulations to address ethical, legal, and social implications.

Many corporates has come with solution for overview and features of the marketing strategy planning & effectiveness simulation technology. AI-based marketing strategy planning & effectiveness simulation of customer response rates that enables the execution of the most effective measures.

Moving ahead, General AI has the potential to reshape economies, labor markets, and societal structures, leading to discussions about the future of work, automation, job displacement, income inequality, and the distribution of AI benefits and risks. Debates also focus on the role of AI in addressing global challenges such as healthcare, climate change, and education.

Dr. Deepak Kumar Sahu, President & CEO, VARINDIA