The launch of ChatGPT in November 2022 set off a generative AI gold rush, with companies scrambling to adopt the technology and demonstrate innovation. Many of the AI use cases entrenched in business today use older, more established forms of AI, such as machine learning, or don’t take advantage of the “generative” capabilities of AI to generate text, pictures, and other data. Legacy chatbots, product recommendation engines, and several other useful tools may rely only on earlier forms of AI. Some industries such as biotech are finding ways to use gen AI, but many enterprises experimenting with the technology have found a limited number of use cases so far, says Kjell Carlsson, head of AI strategy at Domino Data Lab, provider of an enterprise AI platform. For many enterprises the return on investment for gen AI is elusive, he says. “The reality for a lot of users is that they just don’t have enough [information] to make an AI strategy leveraging generative AI use cases, and they’re not going to get to enough value quickly,” he adds. “They have a couple of use cases that they’re pushing heavily on, but they are building up this portfolio of traditional machine learning and ‘predictive’ AI use cases as well.” Many AI experts say the current use cases for generative AI are just the tip of the iceberg. More uses cases will present themselves as gen AIs get more powerful and users get more creative with their experiments. However, a handful of gen AI use cases are already bubbling up. While simple chatbots using word and phrase recognition have been around for decades, newer chatbots with gen AI capabilities can make conversations sound more natural while dealing with many customer requests. IT analyst Forrester listed gen AI for language and AI agents as two of its top 10 emerging technologies for 2024. European ridesharing and delivery service Bolt, for example, has deployed an intelligent chatbot to deal with most customer complaints, creating a huge cost savings.
Full report : Top 7 generative AI use cases for business.
