The Strengths and Weaknesses of Generative AI for Business

By now, most of us have used generative AI tools out of curiosity or to help us with various individual tasks. In the span of a few minutes, you can start testing the limits of these types of tools – and you’ll probably be amazed at what their capabilities are.

But how can you use generative AI for business?

What Is Generative AI?

A generative AI platform is a tool that utilizes powerful artificial intelligence (AI) and machine learning (ML) technologies to be capable of generating creative final products in response to human prompts. While generative AI can refer to tools that create images and other media, most people are currently fixated on modern generative AI tools that focus on natural language text.

ChatGPT and similar tools can produce large volumes of text in response to almost any conceivable prompt. You can tell it to write an email, come up with a list of potential questions to ask target demographics as part of your market research, or even generate standard operating procedures (SOPs) for your team – and it will give you exactly what you ask for.

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The natural language capabilities of generative AI aren’t quite at the level of a human expert, but they’re still wildly impressive and capable of holding their own in most applications.

The Strengths of Generative AI

What are the strengths of using generative AI for business?

Inexpensiveness

Currently, generative AI is inexpensive. You can get started with some tools completely for free and customize a tool of your own for less than you might think. In the future, creation and subscription costs may rise, but even so, when compared to the benefits that you get from generative AI, these costs will likely be worth the investment.

Accessibility and usability.

One of the reasons we’ve become so captivated with generative AI tools is that they’re so easy to pick up and use. These tools were designed with human users in mind, so they’re universally usable. You can talk to this type of tool the way you might talk to a human being, so long as you can write in complete sentences and ask meaningful questions, you’ll require no training to get started.

Potential for automation

Generative AI has the power to automate countless activities, from writing rough drafts of articles to interpreting mass volumes of data. In most applications, it’s still a good idea to have a human reviewing and finalizing the work – but automation can save that human a ton of time.

Potential for review/analysis

Again, generative AI isn’t perfect (at least not yet), but it serves as an excellent “second set of eyes.” If you’re not sure about the tone of the email you drafted, or if you just want to make sure there are no errors in the RFP response you’re submitting, you can feed it into a generative AI tool and see what the robot overlord thinks.

Data analytic capabilities

Many people underestimate the abilities of generative AI to interpret and analyze data. AI greatly excels at this, far exceeding human capabilities of understanding mass sets of objective data.

Innumerable use cases

Already, you’ve probably come up with several ideas for how you could use generative AI in your business. We can tell you from experience that there are probably dozens more that you aren’t considering. Almost any business activity that requires creativity, writing, reading, data analytics, or review can be simplified and streamlined using generative AI. And in the future, this range of capabilities is likely to grow.

Support for training and education

Businesses all over the country are already using generative AI for training and education. From creating training materials to helping newbies understand their roles and responsibilities, AI tools are indispensable.

The Weaknesses of Generative AI

Unfortunately, there are also some weaknesses to consider.

Lack of real-time data access

Most generative AI platforms don’t have real-time access to data (or the internet). It’s tempting to think of your generative AI platform as the functional equivalent of a robot that continuously absorbs new information, but there’s a limit to what it can know and how fast it can learn. Generative AI can’t help you understand the latest developments in the news or in your industry.

Repetitive, shallow nature

Realistically, generative AI is somewhat shallow. It can’t hope to replicate the genuine expertise of someone who has studied a subject for decades, though it might be able to make some of their findings more interpretable to lay people. Additionally, generative AI tends to be very repetitive; it uses the same formulaic writing patterns and sentence structures, making it relatively easy to detect as AI-generated.

Inability to truly understand or emote

Though generative AI may be able to fake a tone or “seem” like it feels something, this type of tool is incapable of truly understanding your feelings or expressing any feelings of its own. As human beings still thrive on emotional, human connections, this hinders the potential of generative AI.

Technical challenges.

Building your own tool, or integrating generative AI into existing tools, can be technically demanding, costing more time and money than most people initially expect.

Generative AI may not be perfect, but it’s incredibly useful when used responsibly. If you’re familiar with all the strengths and weaknesses of generative AI, and you have a plan for how to incorporate it in your business, you should stand to benefit enormously from its integration and ongoing use.