Generative AI (GenAI)

Generative models, model the whole distribution of the data. Generative AI is the new wave of models which can produce everything from art and language, to music and video. Its ability to produce such diverse and creative content has led to its rapid adoption across industries and revolutionized how humans generate, create and interact with data and media. The likely economic impact of GenAI is considerable, with McKinsey's latest report estimating it could add the equivalent of between $2.6 trillion -$4.4 trillion annually across 63 use cases [1].

Prominent examples of generative AI applications:

     1) Text generation: Models like GPT-4 can generate human-like text, making them useful for content creation, chatbots, and automated writing assistance.

     2) Image generation: Generative adversarial networks (GANs) can create realistic images, enabling applications in art and design.

     3) Music composition: AI algorithms can compose music, mimicking the style of various composers or generating original compositions for multimedia projects.

     4) Video synthesis: AI can generate video content, from deepfakes to video game animations - enhancing visual storytelling and entertainment.

     5) Drug discovery: AI-driven generative models can suggest new chemical compounds with potential pharmaceutical applications, speeding up drug development.

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