The Rise of Generative AI:
Generative AI has witnessed an exponential surge over the past few months. One of the prime examples of this growth is ChatGPT, which garnered one million users within the first five days of its launch in November of 2022. By February, it amassed over 100 million users, and in June, its website received a staggering 1.6 billion visits. The potential of generative AI has led to an impressive forecast for the AI market, which is expected to reach over by 2027, demonstrating its unstoppable growth.
But what does AI mean for your business, and how can you use it to make more efficient decision-making?
From Toddler to Adult: The Evolution of Generative AI:
Around a year ago, generative AI was in its “toddler” phase, still evolving and refining itself. Developers had to make updates to tackle misinformation, ensure trusted content, and improve precision in results. However, just like a teenager, generative AI is now capable of remarkable achievements, provided it receives the right guidance. Prompt engineers play a crucial role in shaping AI’s potential by expertly constructing instructions and questions for AI to provide desired responses. Despite its progress, AI does face growing pains, including occasional outages and concerns over data security. Nonetheless, the future looks promising, as AI moves towards its “adult” stage of independence, increased trustworthiness, and mainstream integration.
AI's Impact on Business and the Path Ahead:
AI’s role in business cannot be understated. It promises increased productivity, competitive advantage, and support for strategic decision-making. However, concerns over data security, accuracy, and bias still loom. Preparing for the future is vital, and executives are aware of this fact.
In a recent study from IBM, around 50% of CEOs are already working on integrating AI into their products and services. Furthermore, 75% believe AI will be a significant competitive advantage. However, around 57% of CEOs have data security concerns, and only 30% of non-CEO executives believe their organizations are ready to adopt AI responsibly. Preparing for AI’s integration and upskilling employees are crucial steps for businesses to harness their full potential.
Profound Logic's Innovative Solutions:
Profound Logic has been at the forefront of exploring AI and identifying ways to bring real value to its customers. Leveraging AI for code transformation, indexing data, building AI co-pilots, and creating AI plugins are just a few examples of how Profound Logic integrates AI into its solutions.
One notable development is Genie co-pilot, a proof-of-concept assistant that leverages natural language interfaces and AI’s IBM operating system knowledge to aid users in navigating applications.
Additionally, Profound API serves as a key tool for simplifying AI integration, allowing customers to create, manage, deploy, and consume APIs with ease, all while ensuring granular control over data access.
As the world moves towards AI’s adulthood, it becomes imperative for businesses to embrace this transformative technology. Profound Logic’s commitment to exploring and integrating AI into its solutions positions it as a trusted partner for customers navigating the evolving AI landscape. With Profound API and innovative solutions like Genie co-pilot, businesses can seamlessly integrate AI into their applications, empowering employees and driving productivity. The future of AI is here, and Profound Logic is ready to help businesses unleash their full potential for growth and success.
Learn more about Profound API:
Profound API is a comprehensive set of easy-to-use tools that reduce the learning curve and have you working with APIs in minutes, not weeks. Using Profound API makes it easy to:
- Define API interfaces, including methods, paths, and parameters.
- Secure APIs with built-in authentication and authorization.
- Build API logic using an intuitive low code development environment.
- Access databases (Db2, MySQL, MariaDB, Microsoft SQL Server, Oracle).
- Automatically document API interfaces using /Swagger.
- Make API documentation easily discoverable with a built in API Explorer portal.
- Monitor the performance of APIs with an easy-to-understand dashboard.