What Is Generative AI and How Can You Use It in Your Business?

Generative AI, or GenAI, is an area of Artificial Intelligence focused on the ability to create original and autonomous content. This technology uses sophisticated algorithms to produce new creations, such as articles, music, images, programming code, and more.

According to Gartner, 87% of CIOs plan to invest in Generative AI in 2025. This figure demonstrates how GenAI has become an important technology topic in recent years, especially following the arrival of ChatGPT in 2022, which brought Generative AI into the global spotlight.

How Does Generative AI Work?

Generative AI combines Machine Learning with a large database, resulting in a neural network similar to the human brain. This enables GenAI to reproduce conversations and interpret messages intelligently.

Although it was popularized by ChatGPT, the technology has existed since 1970, when engineers decided to build and train GANS (generative adversarial networks).

Its operation is complex and can be divided into three stages:

• Training: this phase is used to create models that serve as the foundation for various Generative AI applications.
• Fine-tuning: the phase in which the foundation model is adapted to a specific GenAI application.
• Generation, evaluation, and readjustment: to analyze the output of the Generative AI application and continuously improve its quality and accuracy.

What Is the Difference Between Traditional Artificial Intelligence and Generative AI?

Artificial Intelligence is a broad field of knowledge, while Generative AI is a subfield. The two share some characteristics but also have differences.

The main distinction between traditional artificial intelligence and Generative AI is the latter's ability to create. Traditional AI is generally focused on classification, prediction, and optimization tasks, while GenAI can produce text, audio, images, and various other types of content.

In addition, Generative AI can be applied to a wider variety of tasks than traditional AI. Another differentiating factor is the economic impact of GenAI, which, according to McKinsey & Company, could add up to US$4.4 trillion annually to the global economy.

Benefits of GenAI

There are several benefits that can be gained from using generative artificial intelligence models in everyday activities. Some of them include:

• Increased creativity: Generative AI tools can inspire the creation of new content by suggesting variations of the same model.
• Improved decision-making: AI extracts meaningful patterns and insights from large datasets, making decision-making easier.
• Personalized content: GenAI analyzes user history and behavior, enabling it to provide personalized content.
• 24/7 availability: when integrated with chatbots, Generative AI helps keep customer service available 24 hours a day.

How Do Companies Use Generative Artificial Intelligence?

Today, companies can use Generative AI across different areas of their business. As this technology continues to evolve, new ways of using it emerge in the market every day.

One possible area of application is customer experience, where Generative AI can personalize content in real time during customer interactions, for example. In addition, it can change who receives marketing ads and where they are delivered based on analytics, increasing the chances of conversion.

GenAI can also be used to develop new applications, facilitating code generation by automating this process. Updating applications is also possible in this context.

This technology can also review files, such as contracts, in real time, helping employees who deal with large volumes of information find the right data more easily. This accelerates workflows across different areas of a company.

Meet Monkai

Monkai is a Smarthis tool that provides an advanced GenAI experience for interacting with you. It gives you continuous access to your business information by integrating with any communication channel, such as Microsoft Teams, WhatsApp, email, and other systems. Simplify access to information across your company through customized AI that uses data from your documents.