GenAI Applications Are Becoming ‘Collaborators’

During the short time that generative artificial intelligence (GenAI) applications have been available, they have “entered the workforce as collaborators,” OpenAI Chief Technology Officer Mira Murati said Thursday (May 30).

Addressing the Asia Tech X Singapore conference via video, Murati said the technology is increasingly being adopted in the workplace as it becomes more intuitive to use, Bloomberg reported Thursday.

Murati highlighted OpenAI’s latest model, GPT-4o, which helps generate text, presentations and video, per the report. GenAI is also increasingly being used for coding, writing and administrative work, she added.

For these reasons, the economic impact of GenAI is only in its early stages, Murati said, according to the report.

PYMNTS Intelligence has found that nearly all enterprise firms are using GenAI to some degree, but that most chief financial officers (CFOs) at these firms have yet to see a demonstrable return from their investments in the technology.

“There are a few very good reasons for that,” PYMNTS’ Karen Webster wrote in an article posted April 30. “First, the enterprise firms studied are just getting their feet wet with mostly low-risk, low-impact, less complex applications of GenAI tech. And second, those types of applications and use cases represent the bulk of their company’s experiences to date with GenAI.”

While 100% of the CFOs surveyed said their organizations are now using GenAI, they are using it in a variety of ways, according to the first edition of PYMNTS Intelligence’s new 2024 C(AI)O Report.

All are using the technology for at least three internal functions, often routine and low-risk ones like summarizing information or accessing a catalog, but only about 30% are taking full advantage of Gen AI by deploying it for strategic purposes like monitoring multiple processes, making assessments based on diverse inputs or creating new content, according to the PYMNTS Intelligence report, “The Impact of Implementing GenAI — and How to Maximize ROI.”

The new language model referenced by Murati, GPT-4o, was launched by OpenAI May 13, amid a race by tech giants and startups to develop and deploy advanced AI systems for various applications.

“GPT-4o is much faster and enhances capabilities across text, vision and audio,” Murati said during a livestreamed announcement.