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It appears all but certain that generative AI, or one of its leading products, such as ChatGPT, will become the technological buzzword of the year for 2023. The rapid development and rollout of these advanced artificial intelligence programs have been both astonishing and worrisome for those fearing the dangers of growth that outpaces regulation. While it’s impossible to predict where generative AI will lead us, it already appears to be driving significant change in the realm of analytics. 

At an enterprise level, generative AI possesses the potential to counter significant bottlenecks in what organizations and teams alike can accomplish, even when facing stringent deadlines. 

Artificial intelligence is also, theoretically at least, free of the biases and cognitive difficulties that humans can experience in forming and testing ideas at scale. This notion, however, has been contested due to human bias that could influence the datasets that AI uses.  

Away from this, there’s little contesting the time- and resource-saving qualities of generative AI and the insights that it’s capable of producing. While a major drawback of big data is that humans simply cannot interpret thousands of pages of information at a rapid pace, AI can not only ingest it in an instant but interpret key points and metrics to deliver immersive data insights for users to consume. 

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Generative AI’s potential is such that Goldman Sachs estimates that the technology could deliver a 7% boost to global GDP over the course of the next ten years while also lifting productivity growth by 1.5 percentage points.

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