A new star is rising. Its name? Generative AI. The rise of new AI tools is shaking up every industry, especially the tech and SaaS markets. So, what is generative AI and why is it so powerful? Let's dig in.
Generative AI is a type of artificial intelligence that creates new, original content that mimics patterns it has learned from training data. With generative AI, you can create any type of content: text, images, video, music,… even code!
Imagine a rock band with a drummer, a lead guitarist, a bass guitarist, and a singer. They’ve been playing together for years and have released over 200 songs. A new pianist, a lifelong fan who knows the band’s unique style and rhythm, now joins the band.
The pianist creates new melodies that perfectly fit the band’s style, even though the band has never played songs with a pianist before. With years of training just from listening to the band’s songs, they are able to create something unique, yet familiar.
Just like the pianist has trained himself for years on a set of songs, you can train a generative AI model on whichever data you want. As a result, it will create a unique piece of content based on what it has heard or seen before.
When we talk about AI nowadays, ChatGPT is the first thing that comes to mind. It has taken the world by storm, becoming the 7th most used software application by businesses. So you may wonder, is ChatGPT an example of generative AI?
Correct! ChatGPT is an example of a generative AI tool. It is an AI language model, which means it generates text. No images, diagrams, or visual content. The unique thing about ChatGPT is that it’s conversational. The more questions you ask and the more context you provide, the better your answer will get.
You can use ChatGPT for many different use cases:
Although ChatGPT is wildly popular, you'll find examples of generative AI everywhere.
Generative AI has become the talk of the town. But why so suddenly? With many breakthroughs in tech fields like machine learning and deep learning, new AI technologies quickly learned to make sense of complicated data like never before.
And the sudden interest in these technologies is not entirely surprising. Because using generative AI tools comes with many benefits.
AI can do a lot of work quickly, especially with lots of training data. Software-as-a-Service (SaaS) products generate billions of data points, making generative AI attractive to the industry. Not only to speed up internal operations, but also to build more impactful products.
Tools like ChatGPT are a blessing for your SaaS teams. AI tools can automate their repetitive tasks and save hours of time and resources. Employees can now invest those precious hours in more complex, strategic tasks to make a bigger impact.
For example, in marketing and customer success, AI can analyze customer feedback data to understand what customers want. Customers will get more personalized service, and become more loyal as a result.
In HR, AI can make hiring easier and help understand how employees are doing.
Likewise, product managers can use AI to speed up product cycles and build more impactful products.
Many product builders are investigating how to build AI capabilities into their apps. AI can make SaaS apps smarter by giving users helpful tips, making processes more efficient and less error-prone.
These examples barely scratch the surface of what AI can do. The possibilities are virtually endless!
If you want to explore generative AI beyond the massively popular ChatGPT, there are many tools you can play around with. Explore some of the most popular tools in the generative AI landscape below.
New tools emerge every day, but this list is a great start to explore what’s out there!
SaaS businesses are able to speed up their growth with generative AI. Your team becomes more productive, and your product more impactful. Powering your SaaS application with machine learning and AI models can help you build a better product for your customers.