How will Generative AI impact marketing in 2024
The rise of GenAI in last few years
Just a few years ago, generative AI models were in their early stages, with capabilities limited to text generation. Pioneering models like GPT-3 captured the imagination with their ability to produce human-quality writing, but their versatility was restricted. However, the landscape has shifted dramatically in recent times. We’ve witnessed the emergence of advanced models like DALL-E and Stable Diffusion, capable of generating high-fidelity images from simple text descriptions. These models represent a significant leap forward in the field of generative AI, pushing the boundaries of what’s possible. This rapid advancement is fueled by several key factors. Firstly, the ever-growing availability of data provides the raw material for training these powerful models. Secondly, the continuous improvement in computational power allows for more complex algorithms and larger datasets to be processed. Finally, algorithmic breakthroughs are constantly pushing the envelope of what AI can achieve. The combined effect of these factors has been nothing short of explosive, propelling generative AI models into the mainstream and transforming various industries, including marketing.
