While generative artificial intelligence (GenAI) applications have only recently become available, they are “entering the workforce as collaborators,” OpenAI chief technology officer Mira Murati said on Thursday (May 30).
Speaking via video at the Asia TechX Singapore conference, Murathi said the technology is becoming more intuitive and is increasingly being adopted in the workplace, Bloomberg reported on Thursday.
Murati highlighted OpenAI's latest model, GPT-4o, which, according to the report, helps generate text, presentations and videos, adding that GenAI is also increasingly being used for coding, writing and administrative tasks.
For these reasons, Murati said, the economic impact of GenAI is still in its early stages, according to the report.
PYMNTS Intelligence found that while nearly all companies are using GenAI to some extent, most chief financial officers (CFOs) at these companies have yet to see tangible benefits from their investment in the technology.
“There are some very good reasons for that,” PYMNTS' Karen Webster wrote in an April 30 post. “First, the large enterprises surveyed are only just beginning to address applications of GenAI technology that are primarily low-risk, low-impact, and not very complex. Second, these types of applications and use cases represent the majority of enterprises' experience with GenAI to date.”
According to the first edition of PYMNTS Intelligence’s new 2024 C(AI)O report, 100% of surveyed CFOs said their companies are currently using GenAI, but the ways in which they are using it vary widely.
According to a PYMNTS Intelligence report, “How to Maximize the Impact and ROI of GenAI Implementations,” every company uses the technology for at least three internal functions (often routine, low-risk functions like summarizing information and accessing catalogs), but only about 30% are deploying Gen AI for strategic purposes, such as monitoring multiple processes, evaluating based on diverse inputs, and creating new content, to maximize its benefits.
The new language model Murati was referring to, called GPT-4o, was announced by OpenAI on May 13 as tech giants and startups race to develop and deploy advanced AI systems for a variety of applications.
“GPT-4o is much faster and offers enhanced capabilities across text, vision and audio,” Murati said in a livestreamed announcement.
