Generative AI Still in Experimental Stage, Say Executives

• Generative AI: experimental, low-risk tasks, prone to errors.
• Companies cautious, slow integration in accuracy-critical tasks.
• Potential to revolutionize industries, but with limitations.

Leaders of business, government, and civil society at the Reuters NEXT conference in New York said that generative AI technology is still mostly in an experimental stage, but is making headway in some areas, such as coding and other low-risk tasks.

While generative AI models like ChatGPT have been able to generate impressive results in tasks such as writing poetry and essays, they are still prone to making errors, or “hallucinating” erroneous information. This has limited their use in most industries so far.

However, there are some exceptions. For example, generative AI models are being used to write computer code, generate summaries of meeting transcripts, and deploy capital more efficiently in the financial sector.

“The place that it really is revolutionizing is coding,” said Gary Marcus, a professor at New York University. “It’s just going fastest, and that’s because coders know how to fix the errors these systems make.”

Companies are moving slowly and deliberately when integrating generative AI into uses where accuracy matters. Cisco’s Vijoy Pandey said that the challenge now is to move the technology into a new phase for more sensitive “business-critical use cases,” like legal and security.

“We should just assume people will be doing stupid things” and focus on building technology, guidelines, and frameworks “to protect everybody against stupid actions,” Pandey said.

Overall, the consensus among experts is that generative AI is still a developing technology, but it has the potential to revolutionize many industries. However, it is important to be aware of its limitations and to use it cautiously in tasks where accuracy matters.

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