Generative AI in Practice

3REVOLUTIONIZING SOCIETIES AND BUSINESS ECOSYSTEMS

GenAI will transform the way we do business. It's no exaggeration to say that every organization must consider what GenAI might mean for its products and services, business processes, and even business model. In Part 2, we'll delve into some specific sectors to explore how businesses are using GenAI. So consider this chapter an appetizer – a little taste of the transformation coming our way. It's my way of emphasizing that, whatever your sector, you'd better believe that GenAI will have an impact.

We'll also take a look at how GenAI will impact our day-to-day lives, from searching for information online to finding love and companionship.

Transforming Sectors and Society

Let's start by briefly looking at a few sectors that will be impacted by GenAI (namely, healthcare, manufacturing, and telecoms), before moving onto a lovely example from the country of Iceland.

Dipping into specific sectors

GenAI can facilitate healthcare delivery in several ways, including drug discovery, detecting disease, personalizing treatment plans to individual patients (even personalized to their genetic makeup), and remote monitoring of patients. For instance, large language models like ChatGPT can be used to create virtual assistants that help patients arrange appointments and manage their conditions remotely. They can also help translate medical jargon, thereby aiding communication between clinicians and patients.

In one example, Babylon Health ...