There is a massive BUZZ
around the generative AI revolution, specifically around Text to image since DALL.E-2 is open to everyone.
Generative AI refers to artificial intelligence that can generate novel content, rather than simply analyzing or acting on existing data. No topic in the world of technology is attracting more attention and hype right now.
The invention of language is the most important invention of humanity. This is what sets us apart from everything else on this planet. Through language, we can reason abstractly, develop complex ideas about the world, communicate these ideas to one another, and build upon them across generations and geographies. Modern civilization could not exist without language.
The ability to automate language thus offers entirely unprecedented opportunities for value creation. While text-to-image AI will have the greatest impact on select industries, AI-generated language will transform the way that every company in every sector in the world works.
This first wave of Generative AI applications resembles the mobile application landscape when the iPhone first came out—somewhat gimmicky and thin, with unclear competitive differentiation and business models. However, Once you see a machine produce complex functioning code or brilliant images, it’s hard to imagine a future where machines don’t play a fundamental role in how we work and create.
The first true “killer application” for generative text, in terms of commercial adoption, has proven to be copywriting: that is, AI-generated website copy, social media posts, blog posts and other marketing-related written content.
Over the past year, revenue from AI-powered copywriting has grown dramatically. Jasper, one of the leading startups in this category, launched a mere 18 months ago and will reportedly do $75 million in revenue this year, making it one of the fastest-growing software startups ever. Jasper just announced a $125 million fundraise valuing the company at $1.5 billion. As a result, a range of rivals have emerged to challenge this market.
But copywriting is just the beginning.
Many pieces of the broader marketing and sales stack are ripe to be automated with large language models (LLMs). Expect to see generative AI products that will, for instance: automate outbound emails from sales development representatives (SDRs); create better prospecting processes, accurately answer questions from interested buyers about the product; handle email correspondence with prospective customers as they move through the sales funnel; and more.
As more of the sales process is automated, sales representatives will be able to focus on customer empathy and on building relationships.
At least initially, most generative language applications will not be deployed in a fully automated way. Some level of human oversight of their outputs will continue to be prudent or necessary.
For some lower-stakes use cases—say, writing outbound sales emails or website copy—the technology will soon be advanced and robust enough that users motivated by the potential productivity gains will feel comfortable automating the application end-to-end, with no human in the loop at all.
The Near Future:
Every industry that requires humans to create original work—from advertising to architecture, product design to law, marketing to sales—is up for reinvention. Certain functions may be completely replaced by generative AI.
The fields that generative AI addresses—knowledge work and creative work—comprise billions of workers. Generative AI can make these workers at least 10% more efficient and/or creative: they become not only faster and more efficient, but more capable than before. Therefore, Generative AI has the potential to generate trillions of dollars of economic value.
There are many opportunities and they are here Right now. I believe that there are new amazing products and companies focused on generative language applications are right around the corner.
If you want to chat on what we are building at Samplead, Generative AI, & the future of Sales development please reach out.
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Watch here a short explanation on GPT-3 that helped with the creation of this content.
