Editor’s Note: Shubham Mishra, Co-founder, and CEO of Pixis, provides an insightful analysis of the current state of generative AI in this blog post. He examines our response to and utilization of this technology, shedding light on its potential impact on creative industries in the years to come.
Most times while conversing about the upsurge of generative AI and the impossible that can be achieved with the tech, we tend to narrow our frame of reference of what is possible to the current platforms that are available to the general public, such as ChatGPT, Bard, and Dall-E. The truth is, these tools are a prelude to teasing the full range of applications of generative AI.
Back in 2014, when Generative Adversarial Networks (GANs) were introduced to the world, we welcomed them with academic curiosity. This unsupervised learning technique paved the road for some major technological breakthroughs in the years that followed. It has since moved beyond the walls of academia with the development of numerous generative AI learning and training techniques allowing it to deliver on seemingly impossible use cases.
Today, interest in the technology has moved beyond the perceived walls of the industry with people across the world invested in knowing what this tech will enable next. Safe to say, these innovations will continue progressing rapidly, pushing the boundaries of what we think is possible today. We’re looking at a good decade of profound progress in generative AI capabilities of image, text, video, voice generation, and more.
Generative AI, Today
An estimated $1.7 billion has been invested in generative AI solutions in the first quarter of 2023, and another $10 billion has been announced with deals yet to be completed. These volumes of investment, apart from validating the potential of the technology, also indicate that there is a lot of curiosity and positive sentiment around the technology’s potential.
All eyes are on generative AI, paying attention to see how all of this plays out. Every industry is talking about leveraging generative AI in current processes or creating new tools that integrate it. Large and small enterprises are both exploring ways they can integrate it into their existing tech stacks. The general population itself is carrying out its own experiments on how it can help them with the platforms that are accessible to them.
Discovering the best method and learning techniques for AI’s generative capabilities is ongoing. We still see a lack of synchronicity with voice modulations and unrealistic or inaccurate images being produced with prompts. Even Chat-GPT has what people are calling AI hallucinations. At these preliminary stages of generative AI technology, there is still room for a lot of progress.
The tech industry is united in researching and developing novel deep learning techniques that can improve generative AI’s ability in graphics generation, sound synthesis, data augmentation, or video game development. Governments are beginning to embrace the direction we are heading towards and are actively convening with the industry to understand the best ways to administrate generative AI-led content.
Our own R&D lab in Pixis is abuzz with infectious energy, with our experiments leading to new discoveries every day. Poring over the latest research in the field, adding and building on top of it, and shaking things up – it’s the stuff of every tech team’s dream!
There is a sense that we are on the brink of something exceptional here, and we as a society are excited about what lies ahead. Maybe it’s because we see ourselves living out what we once thought was only possible in movies. Not to forget, we’re not passive observers. We’re part of a larger effort that is at the forefront of delivering the next big thing.
The most exciting thing of all is that the industry is still at a nascent stage when it comes to generative AI. The possible applications are so wide that there is space for everybody to enter and build something exceptional. There is a lot of fun being had in the development of the tech in itself.
We are already finding generative AI tools useful to us, even with their kinks. Just imagine what will be once we safely and ethically unlock its full effectiveness.
The Future of the Creative Industry with Generative AI
The further democratization and safe development of generative AI is going to change the landscape of the creative industry. There will be unseen levels of efficiency and productivity when organizations, both small and large, begin to utilize the creative abilities of generative AI.
We will be able to bring our creativity to life by conveniently producing full high-quality video advertisements solely using generative AI tools. Brands will increase personalization and interaction through AI-backed billboards and media ads, and really be able to connect with their audience.
Film, music, and art production will suddenly see a boost in revenue simply because there will be an increase in output with the assistance of generative AI. Anyone with a creative inclination will have the means to push the boundaries of their originality without being limited by the availability of resources and make that a viable source of income.
Whether it be creating our own gaming elements, images/videos, or music, the growth of generative AI will have very progressive implications in the creative industry and will be capable of increasing artistic output.