Generative AI refers to artificial intelligence with the ability to generate novel content, rather than simply analysing or acting on existing data, to produce text and images.

These models can also write blog posts, poetry, program code and create artwork.

We've seen how ChatGPT has gone viral very rapidly and watch now as the term "generative AI" becomes a buzzword, opening many vertical use cases for large language models beyond the creative industries.

Think of verticals such as biology, manufacturing, and healthcare; indeed Lux Capital partner Grace Isford said. "We'll likely get to the point where AI will be seamlessly integrated into daily workflows."  

Currently we have many start ups using generative AI for healthcare and education and with access to generative AI models becoming easier, the space is attracting many investors. 

Why?

Because they believe generative AI can become as ubiquitous as the cloud or the internet. 

Just think about that for a moment - we're at the very edge of something incredible and the journey is about to get some serious momentum.

Key Takeaways

• The generative AI space is attracting a multitude of investors.
• Generative AI as a tool to solve many problems will be adopted by many entrepreneurs.
• New ways of using generative AI will be explored in 2023 opening up many new opportunities.