Team Sep 28, 2024 No Comments
The world always finds a way to move forward. First, it was the discovery of fire, then the agricultural revolution, the writing systems, the industrial revolution, the internet, and now, it’s generative AI.
GenAI is one of the biggest forces driving change today. It’s transforming how businesses function and reshaping how we work and live.
With such a powerful technology, what’s in demand today can become outdated tomorrow. That’s why staying updated is so important.
In this blog post, we will explore the significant generative AI trends shaping the future. You will learn what’s happening in the world and where we are headed.
A report estimates that the global generative AI market could grow at a CAGR of 42% and become valued at USD 1.3 trillion by 2032. This means we are going to see an explosion of growth in this sector. So, here are some key GenAI trends that everybody should be aware of.
This is one of the biggest trends shaped by generative AI. Almost every industry is automating repetitive and laborious tasks with AI systems. Here are some examples:
This automation is helping individuals and businesses save time, increase productivity, and reduce costs. We can now focus on creative tasks that require human thinking and problem-solving, helping us find fulfillment in work.
No doubt, one latest report predicts that generative AI could add $2.6 trillion to $4.4 trillion to the global economy annually.
GenAI is changing the way developers write code. AI tools can help you write, optimize, and debug code faster than ever possible. A McKinsey report found that generative AI can reduce completion time for writing code by up to 45 percent.
GitHub Copilot is an AI developer tool that suggests code snippets, provides context-aware coding support, and assists you in debugging effectively. This tool is powered by OpenAI Codex, which aims to translate natural language into code.
Since developers don’t have to worry about repetitive tasks, they can now focus on solving complex problems and find creative solutions. So, if you are a programmer, you must learn how to use AI and write codes faster.
Related: How To Learn Generative AI
Creating videos used to be time-consuming and costly. But generative AI is making the process much quicker. With tools like Runway, you can now generate original video content based on text prompts!
Let that sink in for a second. You can simply write a prompt and get a realistic video as output within seconds. This means you can easily make YouTube videos, market your business, or even generate clips for movies. Your imagination is the limit now.
Besides, AI tools like Vyond can help you create realistic animated character videos. You can also modify existing videos by changing colors, elements, characters, backgrounds, etc. Generative AI speeds up the editing process by automating tasks like noise reduction, color grading, and object tracking.
You can watch this video to understand career opportunities in GenAI, including roles, salaries, and future demand:
This is an interesting generative AI trend. AI assistants can now do a range of tasks, from scheduling meetings and researching information to suggesting thrilling movies to watch on the weekend. AI assistants like chatbots also help businesses support their customers around the clock with personalized and human-like responses.
Because of natural language processing, AI assistants can better understand our language and the context of conversations. This helps them understand human emotions, appear more natural, and provide relevant and accurate responses.
As they improve, AI assistants and personal robots may become a part of our daily lives. Yeah, that sounds a lot like sci-fi movies but reports estimate that there could be 244 million personal assistance robots by 2030.
Related: What’s the Future of AI
Since GenAI can automate routine tasks, it can replace humans in certain jobs. Some of those jobs are data entry, bookkeeping, telemarketing, customer support, proofreading, retail checkouts, assembly line jobs, entry-level graphic designing and content creation, etc.
A Statistica report says that the labor market will see significant transformations, which will lead to the loss of around 83 million jobs over the next five years. McKinsey estimates that US clerk jobs could decrease by 1.6 million, retail salesperson jobs by 830,000, administrative assistants jobs by 710,000, and cashier jobs by 630,000.
The good news is AI will also create new opportunities for workers to focus on more creative and strategic roles. Besides, the demand for AI and machine learning specialists, data analysts and scientists, cyber security engineers, etc, is going to increase. That’s why you need to constantly adapt to the changes to be relevant in the job market.
With the above Generative AI trends, it’s clear that this technology is here to stay and transform the world. If you want to stay ahead and be a part of this exciting revolution, learning generative AI is the key.
You can simply join Ivy Professional School’s IIT-certified Generative AI course. Created in partnership with IIT Guwahati (E&ICT Academy), this program helps you learn in-demand AI skills from IIT professors and experts from Amazon, Google, Microsoft, etc.
Over 18 weeks, you will attend live online classes and gain hands-on experience with real-world projects. From building AI-powered apps to mastering skills like machine learning, deep learning, and large language models, this course will make you a generative AI pro.
By the end of the course, you will not only earn a prestigious certification from IIT Guwahati but also get placement support to find your dream job. Visit this page to learn more about the course.
Prateek Agrawal is the founder and director of Ivy Professional School. He is ranked among the top 20 analytics and data science academicians in India. With over 16 years of experience in consulting and analytics, Prateek has advised more than 50 leading companies worldwide and taught over 7,000 students from top universities like IIT Kharagpur, IIM Kolkata, IIT Delhi, and others.
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