The use of artificial intelligence in business is nothing new. Companies have been using AI technology to cut costs and increase efficiency outputs for years.
But the recent surge in the generative AI market has helped AI become a mainstream business technology. Specifically, large language models (LLMs) like ChatGPT and Bedrock are helping to boost AI adoption rates.
Check out this data:
- 35% of global companies use AI.
- Approximately half of businesses plan on incorporating AI into their processes this year.
- China has the highest rate of AI adoption (around 58% of companies)
- The global AI market is expected to reach $1.85 trillion by 2030.
- Larger enterprise companies are 2x more likely to use AI than smaller businesses.
Interestingly the United Kingdom is a little behind the curve with only 25% of companies actively using AI although 47% are expected to adopt a form of AI in the next year.
Such are the benefits you can see why so many organisations have, or will, adopt AI. But, you can also understand why three quarters of companies in the UK have yet to adopt AI: It is new, complicated and the landscape changes very quickly. How many people had heard of ChatGPT a year ago?
However, it is companies like ChatGPT and, if we dare be so bold, Skillzminer that can help overcome those challenges for organisations who want to get the benefit of AI without having to hire a team of developers to design and develop AI-based systems.
Here is a little more about AI, Machine Learning, Large Language Models and Retrieval Augmentation Generation:
- AI (Artificial Intelligence):
- AI refers to the development of computer systems that can perform tasks that typically require human intelligence.
- It encompasses a broad range of technologies and applications, aiming to simulate or replicate human-like cognitive functions.
- Machine Learning (ML):
- Machine learning is a subset of AI that focuses on developing algorithms and models that enable computers to learn from data.
- Instead of being explicitly programmed, these systems improve their performance over time by learning from patterns and experiences.
- Large Language Models:
- Large language models, like GPT-3 (Generative Pre-trained Transformer 3), are advanced AI models specifically designed for natural language understanding and generation.
- These models are pre-trained on vast amounts of data and can perform a variety of language-related tasks, including text completion, translation, and question answering.
- Retrieval Augmentation Generation:
- Retrieval Augmentation Generation (RAG) is a framework that combines elements of traditional information retrieval with generative language models.
- In this approach, a retriever first identifies relevant information from a large dataset, and then a generator uses this information to create a more detailed and context-aware response.
In summary, AI is the overarching field, machine learning is a subset that focuses on learning from data, large language models are advanced models for language-related tasks, and Retrieval Augmentation Generation is a framework combining information retrieval and generative models for enhanced performance.
But the question you really want to answering is how Skillzminer’s AI can help you. Well the answer is in lots of ways but we don’t claim to be generalist AI… our AI models are trained to understand occupation and skills data. Do any of the statements below describe what you do?
- Support the unemployed, economically inactive to up-skill, get closer to the labour market and find sustainable work,
- Recruit for talent based on more than just previous job titles,
- Help your residents, tenants, learners or customers to contribute more to the economy, sustain their tenancy or gain positive destinations,
- Mobilise talent in your organisation to improve productivity and satisfaction whilst reducing churn.
If so contact us using any of the methods below and let us do the AI heavy lifting for you. We don’t want anyone to be left out of the AI revolution so if you are a small organisation don’t miss out. We have prices to suit every budget!