GullyChat: Gen AI’s integration into various fields is reshaping industry

2023 has been a year of extraordinary advancements in Artificial Intelligence (AI). Amid groundbreaking technological leaps and profound ethical debates, AI has permeated newer and unexpected areas – including media, entertainment, advertising, marketing, gaming, content, and more. AI has now integrated itself into the fabric of our lives, shaping our technology and profoundly impacting our culture, communication, and engagements. With the proliferation of generative AI in all spheres of businesses and our lives, technological advancements have reached unprecedented levels.

The latest edition of Adgully’s #GullyChat, held on December 8, 2023, focussed on ‘AI, DeepTech - 2023 - The year when technology came of age’. To take part in the definitive discussions, Adgully brought together a distinguished panel of industry experts:

Surabhi Sharma, Senior Director of Marketing, Hero Vired

Devroop Dhar, Co-founder and Managing Director, Primus Partners

Amit Nigam, Executive Director & COO, Bankit

Richa Singh, CEO and Co-founder, Happinetz

Aakash Goplani, Account Director, SoCheers

Ankita Isarka, COO, Thinkin Birds

Sarvjeet Virk, Co-founder and MD, Finvasia

Sreeram Reddy Vanga, CEO & Co-founder, Kofluence

On the spread of AI, specifically generative AI in 2023

According to Sreeram Reddy, “The business case for GenAI is strong, but the rapid evolution of AI technology poses risks. GenAI raises copyright challenges in creative fields, necessitating creators and brands to monitor digital channels for derivative works.”

“Within a year of their debut, one-third of market professionals report regular use of GenAI in at least one business function. Specifically, Gen AI has transformed content creation by effortlessly generating visuals, copy, and entire campaigns,” he added.

Madhurima Bhatia noted, “Here the focus is on Augmenting Human Intelligence and increasing efficiencies. That is the role I foresee for AI in the coming year.”

Ankita Isarka said, “Generative AI continues to multiply across diverse domains, impacting art, language, and innovation. Its applications range from content creation to problem-solving, fostering both excitement and ethical concerns if used correctly.”

Sarvjeet Singh pointed out, “Clearly, AI is now the focal point across industries, businesses, and geographies! It’s not just about current use cases; AI has become a catalyst for new opportunities and groundbreaking innovations. Now, real use cases are finding ways in the world of Gen AI! Moreover, beyond the buzz, it sparked conversations about AI’s immense potential. Projections indicate global investments reaching $58.6 billion in 2024, as per IDC's Worldwide AI Spending Guide.”

Richa Singh remarked, “AI is all about efficiency, and in today’s times, optimisation is critical for business success.”

Surabhi Sharma cautioned, “AI has also made us more vulnerable to misinformation and biases. I think in the road ahead, the focus will be a lot on the right usage of Generative AI – to cut down mundane tasks, to have a stronger base to start working on and foster greater creativity.”

“Following the footsteps of AR, NFTs, Metaverse, and CGI Content, we saw Generative AI take center stage as soon as it was released. From students doing assignments to global brands doing festive campaigns, 2023 was THE year of exploration for Generative AI,” said Aakash Goplani.

“The spread of Generative AI in 2023 is fascinating. Its integration into various fields is reshaping industries. The way it is redefining creative processes leaves me in awe. From transforming creative content to revolutionising data analysis, its impact is reshaping industries,” said Amit Nigam.