Today, we stand at the brink of a new era in technology as we look into the generative AI landscape
of 2024.
We will uncover the transformative power of large language model applications, which are reshaping
industries globally.
We will explore not just the current state, but also the vast opportunities that are emerging from
this revolution.
Let's start by exploring this compelling real world applications from April 2024 that highlights impact
of these new technologies.
Consider Klarna a customer service LM application.
This generative AI application operates 24 over seven, handles 2.3 million customer service chats,
and provides service in 35 languages.
Remarkably, it has replaced 700 full time agents without sacrificing customer satisfaction.
And this is not just a reduction in human labor, but an enhancement in efficiency and scalability.
Similarly, in the legal and enterprise sectors, Harvey and Glynn have demonstrated that generative
AI can significantly streamline operations and offer insights with unprecedented speed and accuracy.
All these startups have already received millions of dollars in venture capital investment, and they
are just the tip of the iceberg.
From individual tools to entire networks, let's discuss how generative AI is revolutionizing productivity.
On every productivity revolution in history.
We have transitioned from humans using tools to humans using machines, to humans using networks of
machines.
We are seeing a similar path with generative AI.
We are seeing co-pilots.
Agents and networks of agents on every aspect of professional work, from data analysis to strategic
planning being enhanced.
Imagine a workplace where generative AI co-pilots are not just assisting, but elevating your work by
automating routine tasks and offering insights that go beyond human capability.
With these advanced tools at our disposal, let's explore the distinct capabilities that set generative
AI applications apart.
First, the ability to create our generative AI applications can now generate text, images, audio
and video with precision and creativity, mirroring human like artistry.
Next, they have the ability to reason.
These applications evaluate, plan, and criticize, engaging in complex decision making processes that
were once the sole domain of human intellect.
And third, consider.
Consider the possibilities when these capabilities combine.
For example, a generative AI application could soon create a marketing campaign, evaluate its potential
impact, fine tune the messaging based on predicted customer reactions, and iterate this process in
real time.
What does this mean for future productivity?
As we leverage these capabilities, let's consider their economic impact and the immense opportunities
they create.
We can use the transition from traditional software to cloud based software as a reference.
That transition marked a significant shift in technology growing from a market revenue of three.
$50 billion in 2010 to $650 billion in 2023.
So at the beginning of that transition, only 1% of market revenue was cloud software.
13 years later, more than 60% of the software market is now cloud software.
Now imagine the potential as we transition from the standard services market to generative AI driven
services, where we are just scratching the surface of a $10 trillion market.
Today, only 0.03% of this market is being conquered by generative AI applications.
Imagine the potential to grasp the full potential.
Let's look ahead with some predictions for the near future.
And remember, this is not just growth.
This is a transformative shift that could redefine economic landscape globally.
Althought we are in a in the nascent stages, the trajectory is clear from LM models and the tools.
We are moving very quickly to sophisticated LM applications.
Generative AI is moving very, very rapidly.
This transition is not limited to customer products, but it is expanding deeply into enterprise solutions,
offering better planning and enhanced reasoning capabilities.
In 2024, even when we are in a very, very early stage, we are seeing a very strong transition from
the focusing LM models and dev tools to create LM applications to the enterprise LM applications themselves.
We are having a very important movement towards agents.
LM applications and agents, LM applications, and we are seeing more and more a transitions from consumer
LM applications to enterprise LM applications.
And we are expecting a better planning and reasoning capability of these applications in 2000 2024.
These are not just predictions.
These are the predictions of the top venture firms in Silicon Valley.
As we continue to innovate, the capabilities of these generative AI applications will grow.
Packed full applications.
As we stand at this pivotal moment, it is clear that LMDh applications are the driving force at the
heart of this new technological era.
The potential opportunities we have discussed are not just significant, they are monumental, the biggest
in the history of humankind.
Let's embrace this future together.
Let's explore these opportunities and lead the way in this exciting new world.