Generative Ai: Benefits, Risks And A Framework For Responsible Innovation

Generative AI (GAI) is a category of AI that can create new content, including video, audio, images and text. GAI has gained much attention lately and is estimated to reach a global market of US$110.8 billion by 2030. ChatGPT, Google’s Bard chatbot, Salesforce’s EinsteinGPT, Prisma Labs’ Lensa image editing app, and Runway Research’s Gen-1 video-based generative AI tool are examples of GAI technologies. This article provides an introduction to GAI, including how it works and what should be considered before using it.