Creating Value with Generative AI Tools

First thing we need to understand is that AI is not a magical technology as it has been traditionally portrayed in the media. It is essentially computers using complex maths and detecting patterns. Computers need vast amounts of data to understand tasks and this is known as training data. This is because computers don't innately grasp concepts like we do. This data then enables AI to create predictive models, a process known as machine learning. Essentially, current AI tools are sophisticated mathematical models that predict outputs based on inputs.

The effectiveness of a generative AI model largely depends on the quality of the prompt (input) provided. This principle is captured by the phrase "Garbage in, garbage out." A vague prompt can lead to subpar results. However, a detailed prompt will yield a more accurate and useful output. The key is to be specific and detailed in your instructions to get the best results from AI tools.

There are several popular AI tools that exist in the market today and each of them perform different tasks and functions, so always be sure which one is best suited for your needs.

AI is already making significant impacts in various fields:

In terms of your work or personal life, AI can assist in many areas:

In a practical example, AI can be used to automate and personalise tasks. For instance, in a restaurant scenario, you can create an automation and use AI to send personalised thank-you emails to customers, based on information from their review. This process not only saves time but also ensures that communication feels genuine and tailored, rather than relying on generic templates. However, keep in mind that crafting effective prompts and choosing the right AI model are crucial for achieving the best results and managing costs with implementation of the automation.