In the News: Generative AI Trends Industry-Wide

Everyday, we see a new headline about the latest innovations and generative AI trends. Between new product launches, updates or ways industries are utilizing AI technologies, implementing AI solutions are becoming the new normal. The Generative AI market size accounted for USD 7.9 Billion in 2023 and is projected to occupy a market size of USD 110.8 Billion by 2030, representing staggering growth in less than a decade*.

Generative AI Trends & Recent News

Below, we’ve highlighted the latest generative AI trends, updates and news articles from the past month.

• EU lawmakers pass draft of AI Act, includes copyright rules for generative AI (VentureBeat). EU lawmakers recently passed a draft of the AI Act, which would mark the first set of comprehensive laws regarding AI regulation. Under this act, companies deploying generative AI solutions would need to disclose any copyrighted material used in their systems. This comes after months of negotiations, with the goal of addressing highest-risk outcomes associated with AI while still allowing for innovative tools to emerge. 

• AI Really Can Boost Productivity, Especially for Lowest-Skilled Workers (Bloomberg). According to a study released in April, access to generative AI tools can increase productivity at work. For example, customer service workers at a Fortune 500 software firm were given access to AI solutions and became roughly 14% more productive. Additionally, research found that such tools helped inexperienced or lower skilled workers the most. 

• Amazon wants to boost ten generative AI startups around the globe (TechCrunch). Amazon Web Service (AWS) created a new 10 week program to assist generative AI startups around the world. Further, this program provides startup founders access to AI models, tools and support from industry leaders and AWS product teams, followed by a “Demo Day” to conclude the program. However, AWS will not invest in the startups. 

• Samsung Bans Staff’s AI Use After Spotting ChatGPT Data Leak (Bloomberg). Samsung recently announced that employees can no longer use generative AI tools on company-owned devices and internal networks. This decision comes after an incident of employees accidentally uploading sensitive information. With that, Samsung is creating its own internal AI solutions, as well as working on ways to block the upload of sensitive company information to external services.

The Future of Generative AI Solutions

Overall, AI solutions are spurring innovation across the board and drumming up conversation. Only time will tell what lies in the future of AI, but we can anticipate the continued success of innovative and game changing tools. 

With its generative AI solutions, Yseop is reimagining the future of scientific writing to expedite processes in life sciences. Yseop’s suite of industry-specific applications and cutting-edge hybrid Natural Language Generation (NLG) technology blends symbolic, machine learning, and LLM techniques. The generative AI solutions ensure that even the most demanding content automation tasks are met with ease, scalability and application security across the entire enterprise, including in the more regulated industries of finance and life sciences. 
To learn more about Yseop’s AI solutions and how they can help your organization, please contact us here.