Generative AI holds much promise for businesses

The Economist weighs in on the opportunities for AI chatbots to transform business:

The potential is exciting. According to McKinsey, a consultancy, three-quarters of the business uses of generative ai will fall into four areas: customer operations, marketing and sales, software engineering, and research and development. Navigating a complex tax code or summarising a legal document could become a breeze. Type in the right prompt and a first draft of marketing copy could magically appear. Already many coders rely on Copilot, a coding tool from Microsoft, to help them write software. Studies show that professional workers with below-average performance tend to experience the most benefit from using generative ai, promising a big increase in output for firms.

Yet, the article notes, there is resistance – and a lot of uncertainty. Read it here.

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