ChatGPT brought generative AI into the limelight when it hit 1 million users in five days. But how valid is the buzz around ChatGPT? We unpack what you need to know: How does generative AI work? Who are the key players? Is ChatGPT ready for prime time? And most importantly: How will the technology change the way we do business?

US Venture Capital Investment Activity in the Generative AI Sector, 2017-2022

So what exactly is generative AI and why should you care? Generative AI is artificial intelligence that creates content from simple prompts and context. This new technology can be used to create everything from essays to 3D objects and newer models can even combine more than one capability.