Introduction Generative AI, a subset of artificial intelligence that uses machine learning techniques to generate new content, has seen explosive growth in recent years. This technology has the potential to revolutionize various sectors, from business to art, and is already being used by a third of organizations surveyed in a recent McKinsey Global Survey. The Rise of Generative AI Generative AI models have evolved over the past decade, with deep learning and General Adversarial Network (GAN) approaches typically being used. However, the latest approach is transformers. These models can generate new text based on the input they receive. In 2023, generative AI had a breakout year. Despite its nascent public availability, experimentation with these tools is already relatively common. Seventy-nine percent of all respondents in the McKinsey survey said they’ve had at least some exposure to generative AI, either for work or outside of work. Impact on Business Generative AI has s...