Generative Artificial Intelligence in Finance

22Harnessing Generative AI for Engineering and Product Design: Conceptualization, Techniques, Advancements and Challenges

Sakshi¹, Chetan Sharma^2*, Gunjan Verma³ and Nisha Chanana⁴

¹Amity Institute of Information Technology, Amity University, Noida, India

²upGrad Education Private Limited, Bangalore, Karnataka, India

³School of Computer Applications, Manav Rachna International Institute of Research and Studies, Faridabad, Haryana, India

⁴Faculty of Management Studies, The ICFAI University, Baddi, Himachal Pradesh, India

Abstract

This chapter examines how generative artificial intelligence (AI) is used in engineering and product design, emphasizing how it may revolutionize productivity and creativity. It highlights the extraordinary powers of generative AI, including its ability to produce a wide range of design concepts, enhance human creativity, and optimize design parameters. The chapter explores several approaches, including recurrent neural networks (RNNs), variational autoencoders (VAEs), and generative adversarial networks (GANs), and describes how they contribute to creative product creation. There is a discussion of the main advantages, which include idea development, design refinement, and iterative improvements. The significance of secure data practices and high-quality data for generative AI is examined. The last section of the chapter highlights how human creativity and AI may work together to transform product design. It also makes the case for a cooperative strategy ...