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AI has been making headlines in 2023, with much debate around the potential of Generative AI (GenAI) models to transform our everyday lives. This article explores how businesses can harness the potential power of this transformative technology in an enterprise environment. GenAI models can help with Natural Language Processing (NLP) based applications, such as providing interactive help and enterprise-wide search capabilities. GenAI models also enable users to tap into a variety of data sources to generate text and code, formulate predictions and summaries, perform translations, analyse images and more.