Updated: Jul 26
Almost every part of global GDP is up for disruption. I personally believe that AI is the single most powerful platform in human history, on par with electricity.
Generative AI became visible and accessible to millions in November 2022.
Since then, we have seen an explosion of Generative AI capabilities.
What is the "So What?"
Generative AI is different.
Mobile and Web changed distribution. It extended our reach.
However, Generative AI is transformational in Creation. It is an entirely different opportunity and problem.
The economic impact, estimated by McKinsey & Company, could be as high as $4.4 trillion dollars annually, more the entire gross domestic product of the United Kingdom.
The question I was asking myself and that I think many people are asking is, "How does this affect me? How will this impact my business?"
We created the AI Vantage framework to help businesses integrate Generative AI to increase profits and productivity.
Step 1: Educate
Let your teams know that Generative AI is powerful and moving fast. Also, there are risks and limitations. Change will be a constant for the next few years.
Start learning how to use the four major building blocks in Generative AI:
Train teams to recognize Deep Fakes and hallucinations and learn how to guard against them.
Step 2: Define
AI can really shine in complex business scenarios. If you have a lot parameters and variability, it is likely that AI can create value for you.
We see value in three primary areas:
Improved Products and Services that you can offer your customers
More efficient operations
New customer insights and personalization
Low-hanging fruit is often first found in Sales, Marketing, Product R&D, software development, Supply chain, HR, and Strategy.
If you want to learn more about the AI Vantage framework, need help training teams, or deploying solutions, contact us and we will see if we can help or find you someone that can.
Prompt ChatGPT, Claude 2, or Bard with Brett Baldwin's DTAC method:
Define the Role
Train the Source Data
Ask Detailed Questions
Bard (Google) - Google's rapidly improving ChatGPT competitor; it can search the web
Midjourney - Create stunning images
Eleven Labs - Clone voices, convert text to speech
Studio D-ID - Create videos from a single photo or existing stock "avatar"
Synthesia - Create video presentations with text.
The economic potential of generative AI, McKinsey & Company
This video was produced with Synthesia and this blog text.