Transforming Global Economy and Disrupting Industries - Bannari Amman Institute of Technology

Transforming Global Economy and Disrupting Industries –GEN AI

Over the past few decades, the realm of information technology (IT) has experienced a remarkable series of transformative breakthroughs. Each wave of technological progress, spanning from the advent of personal computers to the proliferation of cloud computing, has fundamentally reshaped the landscape of the IT market. However, today, we find ourselves on the cusp of yet another seismic shift as generative artificial intelligence (AI) emerges as the harbinger of a new era.

Generative AI represents a groundbreaking development within the field of artificial intelligence. It possesses the remarkable capability to generate a diverse range of content formats, including text, images, videos, and even code, all derived from vast datasets and user feedback. At its core, generative AI leverages the power of machine learning to emulate responses and outputs that closely resemble those generated by human intelligence.

This innovation has far-reaching implications across various domains. In the realm of content creation, generative AI can generate high-quality, contextually relevant text for a multitude of purposes, from drafting news articles to crafting marketing copy. It can also generate striking visuals and videos, enabling the automation of creative tasks that were once exclusively within the purview of human artists and designers.

Software development is one of the fields where generative AI is already making waves. Writing code has often been a labor- and time-intensive task. However, generative AI can help programmers by producing code fragments, automating tedious processes, and even suggesting improved methods. This shortens development cycles, enhances code quality, and lessens the chance of human error.

Generative AI tools

Image – RocketAI, BRIA, Midjourney

Content Writing – ChatGPT, Google Bard

Video creation – SuperCreator, Runway, Fiki

Audio – Altered, Voicemod, Krisp

Coding – GitHub Copliot, Lighting Ai, AutoRegex

Generative AI will disrupt the industry of hiring

Generative AI disrupts the job pipeline of entry-level entry to middle-level positions which makes the recruiters limit the hiring of candidates for midlevel management positions. Employers are rethinking their hiring approaches to focus on skills rather than conventional qualifications as the work landscape changes. In this growing environment, generative AI is posing a serious threat to established hiring procedures. The initial screening process is curriculum vitae and aptitude is one of the norms in the selection process these processes are supported by GEN AI and it saves the recruiter time.

Effects of generative AI across different industries

In the pharmaceutical industry, generative AI discovering new drugs and new medicine is exposed using generative AI techniques.
In manufacturing implementing generative AI requires high investment, in hardware and
Google: To enhance its search engine, translate languages, and produce original content, Google uses generative AI. For instance, Google Translate now uses generative AI to create translations that sound more natural.
Microsoft: Using generative AI, Microsoft is enhancing its Office family of productivity programs, creating new software development tools, and developing new AI-powered goods and services. For instance, Microsoft is utilizing generative AI to create the Codex programming language, which can generate code from descriptions in natural
Amazon: Amazon is developing new AI-powered services for businesses, enhancing its product suggestions, and producing new consumer For instance, Amazon is utilizing generative AI to create Rekognition Custom Labels, a new tool that enables organizations to train their own custom.

Companies about Generative AI

Tata Consultancy Service – Platforms for generative artificial intelligence, like ChatGPT, according to Tata Consultancy Services (TCS), will produce an “AI co-worker” rather than eliminate jobs.

According to HCLTech, generative AI is a promising technology that could lead to the development of new services in four important areas: prompt engineering, Data engineering, integration, and responsible AI.

To support the technology, businesses might need to spend money on high-performance computing infrastructure, data storage, and analytics software. Data breaches are also a possibility because generative AI needs a lot of data to learn from and develop.

Conclusion

It is currently unclear how generative AI will affect IT careers because generative AI will automate many tasks that are currently done by humans, some experts fear that it could result in job losses. Others think that generative AI will lead to the creation of new jobs since generative AI systems will need to be developed and maintained. Depending on the exact work position, generative AI’s effects on IT occupations are probably going to vary. Occupations that involve creativity and problem-solving abilities are less likely to be mechanized than occupations that are very repetitive and routine. In general, generative AI is a formidable technology with the potential to revolutionize the IT sector. IT personnel need to be aware of the potential effects of generative AI on their careers and build the skills necessary to be successful in the future.

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