Transformative Potential Of Generative AI

Generative AIs are ubiquitous, and tools like ChatGPT, Gemini and Co-pilot are omnipresent. The development of tools such as ChatGPT, MidJourney and Anthropic is accelerating the adoption of GenAI as a general purpose technology (GPT). These GPTs are finding applications in our daily lives, and will become an integral part of the social and economic systems. Electricity, internal combustion engines, wireless communication, vaccines and computers are all examples of general purpose technologies. I recently came across a GBK Collective report - taking a pulse on generative AI. The report was published six months ago and the data was collected towards the end of summer of 2023.