The emergence of ChatGPT has triggered a renewed interest in artificial intelligence, specifically in a type known as generative AI. This technology has hinted at its disruptive potential while also revealing valid concerns about how it works and what it could be used for. We discuss what generative AI is and how it is used in various industries, including medtech. By Sheila Shah, Alexa Allen, and Ned Moffat, L.E.K. Consulting.
Artificial intelligence (AI) has long held the potential to revolutionize the future. That potential is becoming increasingly tangible through recent advances in generative AI, which is captivating the attention of people around the world. So, what is generative AI, and how is it different from other types of AI?
Here is how ChatGPT, a generative AI tool released in November 2022, answered the question, “What is AI versus generative AI?”
“AI refers to a broad category of techniques for building intelligent systems, while generative AI refers to a specific type of AI that focuses on generating new data. ... The goal of generative AI is to enable machines to autonomously create content in a way that resembles human-generated content.” – ChatGPT, OpenAI
In other (human-derived) words, generative AI uses machine learning algorithms to learn patterns from training data sets, which can include existing text, images, and other content, and then applies those learned patterns to create new original outputs. Generative AI can produce novel content in the form of text, images, video, audio, and in some circumstances, even write code.