Businesses shouldn’t leap onto ChatGPT bandwagon

AGBI

• ‘Take time to assess AI trajectory’
• Avoid quick leap into large language models
• New technologies on the horizon

Companies looking to use AI to enhance business should not rush to jump on the “tech bandwagon” behind successes such as ChatGPT, one of the UK’s leading experts in artificial intelligence has said.

ChatGPT, launched in November 2022, uses large language modelling (LLM) which enables it to do things like answer questions and write articles. In its first few months it became the fastest-growing consumer software application in history.

However Professor Neil Maiden, director of the UK’s National Centre for Creativity enabled by Artificial Intelligence, said companies should not feel pressured to use LLM programmes until they are ready.

“Take the time to assess and comprehend the trajectory of AI in the next few years, and gradually move towards an integrated approach that aligns with the evolving technological tapestry,”  he said.

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Maiden said that most businesses operate on a five-year IT strategy, allowing ample time to catch up with the transformative developments in generative AI.

The past year has witnessed the emergence of generative AI and large language models such as GPT-3 and GPT-4 from OpenAI, LLaMA from Meta and PaLM2 from Google, marking a transformative period.

Speaking ahead of an AI event organised by AGBI last week, Maiden described the landscape as “dynamic”, with diverse technologies on the horizon.

The global generative AI market was valued at $29 billion in 2022 and is projected to grow to $43 billion in 2023, according to market research company Fortune Business Insights.

Maiden believes that AI will not replace human intelligence. Instead, he said, the solution lies in the hybrid approach that is now taking centre stage: integrating machine learning, various forms of generative AI and creative search into a cohesive framework that unlocks new and valuable solutions for businesses.

“Hybrid solutions showcase how large language models and generative AI can complement existing technologies,” he said.

These AI tools act as the glue that binds disparate technologies together, Maiden said.