By Tiago Yuzo Miyaoka, Manager, Data & Cloud Specializations, Andela
OpenAI and Google just came out with new versions of their main AI models, bringing huge updates to the Generative AI race. OpenAI released GPT-4o, a new version of the popular GPT series of models, which can now interact with texts, video, and audio, all with improved costs and speed. Google released Gemini 1.5 Pro as their most powerful Large Language Model (LLM), amongst other impactful releases such as Veo, Gemini 1.5 Flash, Gemini Nano, and Project Astra.
While OpenAI focused their announcement on how GPT-4o can be used as a personal assistant and can have human-like interactions in real time (average of 320 milliseconds), Google showed how their generative AI models can be integrated into their existing products such as Gmail, Google Workspace, Android phones, and more. Both showed us a lot of ideas on how AI assistants can help our daily lives. Microsoft’s Copilot has been doing it for a while now from a corporative perspective.
The advances in latency and response time, as well as reduced costs (GPT-4o is 50% cheaper than its predecessor) and increased context window (Gemini 1.5 Pro’s window can go up to 2 million tokens) will help AI implementation across companies that still face challenges in adopting this game changing technology. Companies can boost their productivity with AI-based agents, in a friendly, convenient way as shown by OpenAI and Google.
Some examples include:
- Content creation and marketing: AI can help with outlines and research for high-quality articles, blog posts, create social media content, and generate marketing visuals. This not only saves time but also improves productivity, allowing humans to focus on more important tasks.
- Customer support: advanced voice-based AI assistants can handle complex queries, provide product recommendations, and offer personalized support in real time, significantly improving customer satisfaction and reducing operational costs.
- Product development: AI can aid in generating design concepts and prototypes, speeding up the design phase.
- Finance sector: AI can be utilized for fraud detection by analyzing transaction data in real time, therefore enhancing security and reducing financial losses. Automated financial reporting and forecasting can also save significant time spent by human resources, enabling quicker decision-making.
- Technology: AI can reduce software building costs and improve productivity by spotting errors and suggesting better code, and it can now do it by just taking a quick look at the code.
The demos shown by OpenAI and Google are just the beginning, and they open up possibilities for their competitors to do better. In the next few months, we will see many businesses taking advantage of smart, customized multimodal agents as every company will be able to create their own agents in a cost-effective and efficient way. In the coming years, we expect generative AI models to be even more sophisticated, offering deeper integration into existing business models and systems. This evolution will transform the way businesses operate, by automating repetitive tasks, providing strategic insights, and smart recommendations.
The integration of AI into everyday business operations is no longer a futuristic concept but already reality. Companies that leverage advanced AI models will likely experience significant competitive advantages, including reduced operational costs and enhanced customer engagement. The rapid development of these technologies highlights the importance of staying up-to-date and ahead in the AI race.
The latest advances in generative AI models, as showcased by OpenAI and Google, mark a significant leap forward in the AI landscape. These models not only enhance personal and professional productivity but also offer transformative applications across various sectors. From content creation and customer support to software development and cybersecurity, the integration of advanced AI technologies can streamline operations, reduce costs, and drive innovation. As companies continue to adopt these cutting-edge tools, the potential for improved efficiency, personalized user experiences, and proactive problem-solving will redefine industry standards and unlock new avenues for growth and success.
A trusted partner like Andela can help you confidently navigate the AIlandscape and stay at the forefront of your industry. Contact Andela today to start building a world-class team of tech experts.
Tiago Yuzo Miyaoka is the Data, and Cloud Specialization Manager at Andela, with more than 5 years of experience in Data, Cloud, Machine Learning, and AI. Holding a PhD. in Applied Math, Tiago has a technical background and during his professional career has contributed to the development and deployment of AI solutions in various organizations and industries, such as telecom, consulting and healthcare. At Andela, Tiago is dedicated to guiding companies on their AI, Data and Cloud journeys, ensuring that global technologists find their rightful place within these enterprises.
