Limitations emerge
As the use of generative AI spreads globally, so does widespread criticism of its potentially serious flaws. The technology is trained to absorb and learn from multiple sources, including unverified, unsourced and secondhand data, which creates a material risk of disinformation that may be incomplete, biased or wrong. Additionally, generative AI systems might not pick up on controversial or unethical nuances, and therefore could exacerbate the spread of misinformation and, in extreme cases, serve as potential weapons for deceit.
Regardless, the popularity of generative AI continues to grow. Intense demand for the technology has resulted in server bottlenecks that have affected user access during high-volume periods, which will hopefully be alleviated with the launch of subscription models.
A competitive market
Despite the risks, technology giants are betting heavily on generative AI. Microsoft deepened its relationship with OpenAI in January, with a multiyear investment valued at $10 billion that gave it a share of OpenAI’s future profits in exchange for the computing power of Microsoft’s Azure cloud network. In addition, Microsoft is integrating the technology into its Bing search engine.
OpenAI will have competitors, with Google as well as the Chinese search engine firm Baidu each preparing their own AI tool.
Generative AI is rapidly becoming a reality. According to Bloomberg Business, the AI market is projected to reach $422.37 billion by 2028. Most large technology companies have already boosted capital spending on generative AI through the incorporation of large language models into their cloud infrastructure. LLMs are used in systems such as generative AI and machine learning.
The takeaway
Generative AI further expands the AI landscape that includes predictive analytics, computer vision and machine learning. Swiftly moving toward the point of singularity, technology is transforming our reality as we know it—and while there is room for improvement and a need for oversight, we expect to see increased adoption across every sector of real estate as a key driver of the industry’s digital transformation.
