Generative AI — a category of artificial intelligence algorithms that can generate new content based on existing data — has been hailed as the next frontier for various industries, from tech to banking and media. And indeed, we’re already seeing the many ways the technology is being adopted.  

In 2022, a deep learning model called DALL-E 2 made headlines for its ability to generate digital images from text prompts. More recently, ChatGPT has taken the world by storm thanks to its advanced conversational capabilities. The brainchild of OpenAI, the AI-powered chatbot is backed by investors including Microsoft. The latter is integrating the technology into its Bing search engine and Edge browser, and eventually plans to build it into “every layer of the stack,” as CEO Satya Nadella announced.

In March 2023, OpenAI unveiled the latest iteration of its ChatGPT software, GPT-4, which is currently available to subscribers and developers. Rival firms are hoping to launch similar tools: For instance, Alphabet is working on a conversational AI service called Bard.

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