Why Should Your Business Go All in on Generative AI Before It’s Too Late?
Srinivas Atreya, Chief Data Scientist, Cigniti Technologies | Thursday, 30 March 2023, 12:54 IST
Let us go back a bit in history to the first Industrial Revolution to frame the context for this question better. The revolution occurred in late 18th century England and was responsible for the rapid urbanization & industrialization of the west.
For the first time, machines were able to provide labour much more efficiently. As a result, incomes more than doubled, and England became the Industrial powerhouse of the world. By the early 1900s, more than 70% of the world’s textiles were manufactured within 40 kilometres of Manchester. The global south which missed this opportunity is playing catch up even today.
I guess we have a similar opportunity today. Generative AI is transforming our world in ways that were not thought possible just a few years ago. AI is no longer just a tool for business. It is going to be the very engine on which businesses will deliver value to their customers. The one thing that is different from the Industrial revolution is that this technology is more democratized. It is available for anyone willing to use it and makes the situation both exciting and terrifying for the enterprises.