Generative AI is a new technology that has the potential to transform various industries. It is a universally applicable technology that can do new things that no supercomputer in the world could probably do before generative AI came out. One of the fundamental operations that generative AI can do is act as a skeptic, giving feedback and alternative solutions. This operation can be applied to all kinds of things and can benefit almost every single organization.
Another difference is in the interface it gives us to computing. Before, you had a GUI, and you had to license software from someone and then you could do whatever they had given you. However, not every piece of software gave you all the capabilities you needed, and you had to use different software applications to solve problems in different ways. On the other hand, if you were a programmer, you could program whatever you wanted and build a customized solution at a great time and cost.
Jevons paradox is an example of how technology can change the demand for certain resources. In the 19th century, as steam engines became more efficient, even though they were using less coal, the demand for coal went up because there were more and more applications where the cost made sense. Similarly, with the development of generative AI, people may be worried about their jobs, but AI is not going to eliminate jobs. Instead, it will allow people to be more efficient and create new markets that we don't even know are out there yet.
Generative AI is a field leveler that allows new things to happen in computing and problem analysis. It has different implications, such as allowing people to compute in new ways and build apps and computing experiences without having to know how to program. However, it also poses a field level alert in terms of access to expertise and being able to analyze problems.
One example of the impact of generative AI on small businesses is the use of ChatGPT to enhance Facebook Marketplace ads. A friend who runs a small business that does about $1.5 million a year of online sales through Facebook Marketplace. A large retailer moved into his territory and began offering direct to consumer sales, threatening the business. By using ChatGPT to enhance the ads and rearrange how the business was communicating, the business saw more than double its sales.
Generative AI can give small to mid-sized businesses access to expertise and broad general knowledge in different areas, allowing them to compete on a national level. It can also give employees access to expertise and allow them to think about things that would have been difficult before. However, it is important to note that generative AI is not perfect and can make mistakes. It is important for organizations to navigate this effectively.
Generative AI can be used as a private thought partner to make better decisions. It can help humans explore issues and problems from more perspectives, and it can help us understand how someone else might react to something. This can be especially valuable for CEOs, who don't have a peer in the organization. By leveraging AI in a large language model as a private thought partner, CEOs can get an outside look at their decisions from the data available in the model. This can help them make better decisions and give them more time to think.
One example of how generative AI can be used is by using it as a skeptic of a deal. By exploring different perspectives and understanding potential resistance or pain points, CEOs can make better decisions and improve their chances of success.
It's important to remember that generative AI is not just about getting things done faster or with fewer people. It's about giving employees more time to think and make better decisions. By using generative AI as a thought partner, CEOs can help their employees navigate complex issues and make better decisions.