Other Products
NYLIFE Securities
MainStay Mutual Funds
Retirement Plan Services
Quick Links
Everyone is talking about “generative AI” lately. It’s been dominating the news since November 30, 2022, when tech company OpenAI released ChatGPT, an artificial intelligence-powered chatbot, to the public. That was soon followed by Google announcing its chatbot, Bard.
Here we explain what generative AI is and why it’s so important.
What is generative AI?
Generative AI is a type of artificial intelligence (AI) that can create new content, such as text, images, or music. It does this by learning from existing data and then using that data to generate new examples that are similar in style or content. This is different from traditional Internet search engines, which only return existing content.
There are many different types of generative AI models. Some of the most common types of generative AI models include:
How does generative AI work?
When you type in a text prompt (e.g., write an article on the benefits of life insurance) the chatbot is able to generate human-like results. This is possible because these tools have access to vast amounts of training data that includes books, articles, web pages, and even any information you provide it (e.g., I’m going to submit seven blocks of text to you. Please identify common themes in the combined text).
Where is generative AI being used?
Generative AI is still a relatively new technology, but it is growing rapidly. As generative AI models become more powerful, they will have a profound impact on our lives – the possibilities are endless. Generative AI has the potential to revolutionize many industries, including:
What are the benefits of generative AI?
What are the risks associated with generative AI?
Of course, there are also some potential risks associated with generative AI. For example:
Overall, generative AI is a ground breaking technology with the potential to revolutionize many industries. It is important to understand the benefits and risks of generative AI so that we can use it safely and responsibly.
This article was written by Google Bard, then edited by a human.
Go back to our newsroom to read more stories.
MEDIA CONTACT
Kevin Maher
New York Life Insurance Company
(212) 576-6955
Kevin_B_Maher@newyorklife.com
Related content