Future of Generative AI: Promises with Continued Research and Development
Although the generative ai and future of work has already grown rapidly, there is still much more to come. According to data, the future of generative AI market is projected to reach a size of around $241 billion by 2033 , up from $5 billion in 2023, at a CAGR of 47.3% in the US alone. Generative AI tools like ChatGPT, Gemini, etc have proved extremely useful in answering users’ queries by generating text and images that users need. However, the answer provided by these tools is not always correct and authentic. It fails to deal with complex problems of science and can mislead a user. Large tech companies are leading the revolution in this fast expansion, which is being pushed by the growing need for innovative technologies like text-to-image and text-to-video conversion and higher resolution across a variety of industries. “Although general-purpose models perform well across a broad set of applications, demand for Gen AI is rising in many sectors. Combined with the in...