Forget AI – 2023 is the year of Gen-AI

Forget AI - 2023 is the year of Gen-AI

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During the euphoria of OpenAI’s ChatGPT programme official launch at the end of 2022, we used it to write a blog post with surprising results. 

Now at the beginning of what’s anticipated to be an exciting, fast paced year for procurement and technology, we take a look at the future of the Generative AI landscape. 

Firstly, rest assured that a human wrote this article, honest! 

There’s no denying that autonomous technologies like Gen-AI can save great amounts of time and increase productivity for teams. But why is it so controversial? 

“Generative AI is a foundational technology, and as always with these new platforms, the opportunities that it opens are ample—we passed the stage of “if” and we are at the stage of “when” and “how.” We are seeing the infrastructure layer maturing and democratizing as LLMs get open sourced, which accelerates the application layer.’’ 
Irina Elena Haivas, Investor and Partner at Atomico 
What makes AI different from Generative AI? 

Antler looked into the Generative AI market map, where it differentiates the two: ‘AI is a broad term that encompasses many different technologies, while generative AI (Gen-AI) is a specific type of AI that focuses on creating new content.’ 

Various ethical implications come into play when Gen-AI is involved, as it ‘can quickly create new content such as college essays, songs, and digital pieces of art’ and articles like these, taking power away from those in creative industries. Freelancing platforms like Fiverr are already asking its users to confirm they aren’t using autonomous software like ChatGPT, yet it is difficult to police. 

 “We’re at an inflection point in generative AI, for two reasons: computers can create better than ever, and it’s never been easier for people to interact with them.’’ 
Molly Welch, Investor at Radical Ventures 
How long before human and creative roles are replaced by AI machines? 

Understandably, there is concern over jobs transitioning into more autonomous methods, yet they bring various benefits. Antler lists reasons why more companies are using Gen-AI, plus what its future looks like: 

Why does it exist? 
  • Create new content 
  • Improve efficiency and productivity 
  • Improve the quality of generated content 
  • Enable new applications and uses 
  • Help improve ML algorithms
The future of Gen-AI 
  • License its technology 
  • Sell outputs of the AI system 
  • Provide access to the AI system I.e. subscription service 
  • Use AI system to improve a company’s existing products, thus improve efficiency and effectiveness 
  • Create new products and services 

As the future of AI looks set to transform procurement teams and beyond, users will be expected to adapt and use such technologies to their advantage. Solutions like these 2022 ProcureTech100 pioneers pave the way for great change in digital transformation. The question is how long before such tech is fully integrated into the procuretech stack?  

Done right, its potential could be limitless. 

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