Generative AI – Opportunities and Challenges

August, 2023

Although artificial intelligence originated in academic research in the 1950s, only recently has it captured the imagination of the general public. This has everything to do with the release of ChatGPT, putting a powerful generative AI tool in the hands of individual consumers. But what are the opportunities it brings to businesses? And what are the challenges we face in using it?

To answer these questions, Avasant Senior Partner Frank Scavo recently conducted a video interview with Harbor Rock Wealth Management on this subject. In this free-flowing conversation, the group discussed:

  • What is generative AI and how it is different from earlier forms of AI.
  • How individuals are finding uses for generative AI.
  • Some of the interesting business use cases for this technology, specifically in financial services, health care, and education.
  • Recent examples of the risks and challenges we face in applying this technology, such as factual inaccuracy and poor quality of output.
  • The likely impact of AI on jobs in the future.
  • Understanding the proper use of AI to realize the opportunities while minimizing the risks.

View the Entire Interview Here

Frank Scavo Video Generative AI 1030x613 - Generative AI - Opportunities and Challenges