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The Rise of Generative AIs and the Impact on Business and Society

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Aug 16, 2023

The Rise of Generative AIs and the Impact on Business and Society

Seismic changes are looming as generative AIs like ChatGPT from OpenAI gain prominence and influence. This is evident in the response of global governments, as seen from UK Foreign Secretary James

Seismic changes are looming as generative AIs like ChatGPT from OpenAI gain prominence and influence. This is evident in the response of global governments, as seen from UK Foreign Secretary James Cleverly’s call for coordinated global action in the responsible development of artificial intelligence. The UK government is also planning to host the first major global summit on AI safety later this year.

The pace of change brought about by AI is unprecedented, according to Kit Cox, founder and CTO of Enate. As businesses increasingly rely on automation to handle mundane tasks and assist with complex projects, concerns about job displacement have grown. Cox acknowledges that certain jobs will become obsolete and roles will undergo disruption, but he also emphasizes that AI will create new job opportunities and that human involvement remains essential.

Cox believes that AI-enabled positions will become the norm, rather than AI completely replacing jobs. He expresses concerns about the potential risks of Universal Basic Income and the need for proper regulation to address issues like misinformation and deepfakes, which pose significant threats, particularly during democratic elections.

Enate, a workflow orchestration platform, offers business leaders full visibility and centralized management of their operations. Enate’s platform allows users to design and configure business processes, integrate with robotic process automation tools, and monitor performance. Major enterprises such as EY, Infosys, CapGemini, and TMF Group are among Enate’s customers.

Enate recently launched EnateAI, a plug-in powered by the GPT-4 model from OpenAI. EnateAI can perform sentiment analysis, categorize emails, understand foreign languages, automate queries, and extract email data. Cox highlights the transformative power of AI, noting that GPT-4 technology enables seamless integration of AI-enabled email triage with high accuracy, eliminating the need for extensive implementation processes.

Looking into the future, Cox predicts that older technologies will transition from being costly and valuable to becoming readily available commodities. He envisions the integration of general AI models into practical tasks, unlocking new possibilities and opportunities, such as booking holidays, purchasing car insurance, or creating end-to-end websites using AI.

In conclusion, while the rise of generative AIs presents challenges and uncertainties, it also brings about immense potential for innovation and growth. Businesses must adapt to these changes and embrace AI’s capabilities to stay competitive in the evolving landscape.