Market Insight: Understanding The Rapidly Evolving Landscape Of Generative AI

Published 29 June 2023 by Henry Kirkman & Malavika Tohani &
AI Analytics Operational Excellence Market Insight

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Executive Summary

Generative AI, an emerging and rapidly advancing field within artificial intelligence, is revolutionizing industries by enabling content generation, automating tasks and facilitating sophisticated data analysis. Although it offers numerous benefits, adopters and developers of generative AI models must overcome challenges – such as ensuring data quality, mitigating biases and improving interpretability. There is a growing appetite for integrating generative AI into operations, and this report aims to provide decision-makers with a comprehensive understanding of the field. The study takes a deep dive into different architectures of generative AI, examining the benefits and limitations that come with them. Lastly, the report evaluates trends that will shape the future of generative AI.

Table of contents

Understanding generative AI
Different generative AI architectures serve distinct purposes
Generative AI transforms workflows but poses risks if limitations are overlooked
Generative AI enhances task automation capabilities
Adopters should be aware of the limitations of generative AI
The future of generative AI is open-source

Table of figures

Figure 1. Benefits of generative AI 
Figure 2. Limitations of generative AI

About the authors

Henry Kirkman

Industry Analyst
Henry is an Industry Analyst in the Verdantix Industrial Transformation practice. His current research agenda focuses on connected worker solutions, technologies for industrial asset maintenance, and the industrial applications of AI, including generative AI and computer vision. Prior to joining Verdantix, Henry completed a Masters degree in Civil Engineering at the University of Exeter.

Malavika Tohani

Research Director, Industrial Transformation
Malavika leads the Verdantix Industrial Transformation practice. Her current research agenda focuses on digital technologies for Operational Excellence including digital twins and software solutions for industrial risk and asset management. Malavika has over 15 years’ experience in research and strategy consulting. Malavika previously worked at Frost & Sullivan, managing and delivering advisory projects for clients involving expansion, acquisition, benchmarking and product development strategies. Malavika holds a MSc in Economics from Madras School of Economics.

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