Generative AI: Proceed with Caution
The Generative AI marketplace is on fire. Beyond the big platform players, there are many hundreds of specialty providers funded by ample venture capital and a wave of new open-source models and capabilities. Enterprise application providers, such as Salesforce and SAP, are building LLM capabilities into their platforms. Organizations like Microsoft, Google, Amazon Web Services (AWS) and IBM have invested hundreds of millions of dollars and massive compute power to build the foundational models on which services like ChatGPT and others depend. The rapidly changing technology landscape pressures management teams to transform organizations. Generative AI (GenAI), a cutting-edge technology, accelerates this need to change. According to Forbes in January 2023, venture capital investments increased by a massive 425% in generative AI startups. Democratization of AI at such a rapid scale makes one believe that this technology is here to stay and will be immensely disruptive. Whil...