The Early Benefits of Generative AI

Generative AI is in its early stages, akin to the early days of smartphones about fifteen years ago. The current landscape can be likened to the beginning of a more extensive ecosystem that has not yet fully matured. Initially, when smartphones were introduced, many people struggled to grasp their potential uses. However, as the technology evolved, so did the surrounding ecosystem. Within this growth, various industries sprouted, generating multi-billion dollar markets primarily focused on applications and enhancements that work with smartphones. Currently, the same fate seems to be awaiting generative AI technology; it is poised to create significant downstream opportunities as developers leverage it for new frameworks and applications. These could lead to an entire suite of industries centered on generative AI innovation. It will be crucial to observe how companies and individuals begin to adopt generative AI, implementing it in practical and creative ways that could foster their own ecosystems. The comparison to the smartphone boom lies in the fact that both technologies are expanding, but the full extent of generative AI's potential is still largely untapped, suggesting we are in the early innings of a long game, similar to a baseball match in its first or second inning.