The realm of AI has taken a giant leap forward with the advent of Generative AI.
This incredible technology holds the potential to augment human creativity, invent novel designs, and transform industries across the board.
And now, in this era of innovation, tools like Google’s Vertex AI emerge as a game-changer. Offering comprehensive suites of fully managed ML tools, including a Generative AI Studio, this offering is going to change how we look at AI.
With so many benefits for enterprises and SMBs, this technology is set to revolutionise the way we build, deploy, and scale ML models.
And Generative AI is only going to keep growing:
- By 2027, approximately 30% of manufacturers will have adopted generative AI technology to enhance the efficiency of their product development processes.
- According to a survey of professionals in the United States conducted in 2023, 37% of those working in advertising or marketing reported using artificial intelligence (AI) to aid in their work tasks.
- According to McKinsey, generative design could save 23-38% of engineering time, resulting in cost reductions of 8-15%, while producing creative and non-intuitive solutions.
So what are some of the exciting (and crazy) new ways that Generative AI is going to change the way that businesses approach the use of this fascinating technology?
Imagine the ability to explore countless possibilities, discover the perfect match for our needs and fine-tune it to our heart’s desire.
No more need to imagine.
Generative AI gives individuals the ability to streamline design, content, and even film production. Just have a quick window-shop online. See what Adobe is doing with Firefly. Or the content you can leverage using Jasper.ai. Or the high-level video production from Synthesia.
- According to Gartner, by 2025, 30% of outbound marketing messages from large organisations will be synthetically generated.
- It’s also predicted that by 2030, a major film will be released with 90% of its content generated by AI.
These staggering figures demonstrate the tremendous impact that generative AI is already making.
And that’s where products like Google’s Vertex AI’s Generative AI Studio shines.
It provides a managed environment that simplifies interaction, fine-tuning, and deployment of foundation models. Offering functionality in empowering enterprises and SMBs to unlock their creative potential.
The capabilities of these models don’t only extend to the creative arts. With the analytical and automation capabilities that these generative models possess, its impact across any industry that has data at its core will be nothing short of massive.
Drug Design: Traditionally, the drug discovery process has been lengthy and expensive.
However, with Generative AI, pharmaceutical companies can now design drugs for various purposes within months instead of years. Offering cost and time savings, as well as propelling medical advancements at an unprecedented pace.
According to Gartner:
- Generative AI has been used to design drugs for various uses within months, significantly reducing the costs and timeline of drug discovery.
- By 2025, it is estimated that more than 30% of new drugs will be systematically discovered using generative AI techniques.
The automotive, aerospace, defence, medical, electronics, and energy industries are being revolutionised by generative AI.
According to researchers at Georgia Tech, implementing generative AI technology in materials discovery and design has the potential to contribute to climate remediation. This includes developing greener catalysts, designing materials for carbon capture, and discovering light-absorbent molecules for solar panels.
By leveraging inverse design techniques, which identify materials based on specific properties, industries can discover materials with superior characteristics. Which leads to progress in energy efficiency, corrosion resistance, and other critical areas that desperately require innovation across sectors.
The complexity of semiconductor chip design has always demanded significant time, resources and expertise.
Generative AI’s capabilities streamline the process by employing reinforcement learning, optimising component placement (floorplanning) in a fraction of the time required by human experts. This acceleration translates into shorter product-development cycles and faster time-to-market.
Time-Saving: Reducing the time needed to design microchips from weeks or months to less than a day.
Product Development Life Cycle Reduction: Reducing the product development life cycle time from weeks with human experts to hours with generative AI.
Circuit Board Optimisation: Generative AI-based functions can significantly reduce the time required to optimise a circuit board or system design. Cadence’s Allegro X AI tool claims to offer up to a 10x reduction in the time required for tasks like component placement, routing, and signal and power connection analysis.
Privacy concerns often hinder access to valuable datasets.
Generative AI overcomes this challenge by creating synthetic data, safeguarding the privacy of original sources.
According to Forbes, by 2024, 60% of all data used in the development of AI will be synthetic. Gartner also reveals that synthetic data can help preserve privacy by generating artificial data without revealing the identity of individuals.
This allows industries, like healthcare, to generate artificial data for research and analysis without compromising patient identities.
How You Can Leverage Generative AI To Your Advantage
With the range of tools and expertise available at your fingertips, the possibility of becoming an AI-first organisation is greater than ever. And simpler than ever.
Vertex AI enables you to streamline model development, deployment, scaling and even AutoML for model development without extensive coding. On top of that, they offer users options from their Model Garden, which offers a vast repository of foundation models.
With Google’s Vertex AI offering enterprises and SMBs an integrated suite of tools and services that empower them to leverage generative AI effectively, the only component missing is a plan.
We Can Help You Plan & Begin Your Generative AI Journey
The emergence of generative AI powered by the likes of Google’s Vertex AI marks a new era of possibilities. For enterprises and SMBs, alike.
By harnessing the power of Generative AI, cloud technology, and big data, businesses can unlock unparalleled creativity, efficiency, and innovation.
As specialists in making AI work, our teams arrive with the expertise and ambition to have your business fully leverage the power of generative AI.
Contact us and find out more about how to accelerate your AI journey!