Generative AI is increasingly prominent in the consumerisation of artificial intelligence. Currently popularized by services such as ChatGPT1, Stable Diffusion2, DALL-E3, and others, generative AI are computer services that can use existing content like text, audio files, or images to create new plausible content. These text-to-text and text-toimage AI services are improving at a very fast rate, while newly emerging ones from Make-aVideo4can generate videos from a text prompt and Phenaki5 can generate video from a still image and a prompt. Even more exciting, Nvidia's Magix3D6 can be used to create 3D models from text descriptions.
Underlying the promise and excitement of the business applications of generative AI is its . Paraphrasing one of the more popular definitions, generativity is a technology's capacity to enable innovation by large, varied, and uncoordinated audiences. In the context of generative AI, this means that ChatGPT, DALL-E, Stable Diffusion, and others are generative in two senses. On the one hand, they are generative in the sense that the can be combined with others to create new innovations (what is called combinatorial innovation). The current hype around GPT-4's performance and its implementation in Microsoft Bing and Microsoft Office is one. Lensa is another good example of (such as new text, images, and models) that can be used as media input for innovation. For instance, Magic3D will allow anyone to create 3D models without the need for special training, thus enabling new content for much more varied and speedier video game and virtual reality (VR) development. Generative AI has been used to create a never-ending Seinfeld spin-off, while ChatGPT is able to provide text output at a level that approaches that of a top MBA student.
