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Generative AI is generating a lot of interest from both the public and investors. But they are overlooking a fundamental risk. When ChatGPT launched in November, allowing users to submit questions to a chatbot and get AI-produced responses, the internet went into a frenzy. Thought leaders proclaimed that the new technology could transform sectors from media to healthcare (it recently passed all three parts of the U.S. Medical Licensing Examination). Microsoft has already invested billions of dollars into its partnership with creator OpenAI, aiming to deploy the technology on a global scale, such as integrating it into the search engine Bing. Undoubtedly executives hope this will help the tech giant, which has lagged in search, catch up to market leader Google.

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It's not often we see technologies gain exponential adoption and attention in a very short time frame the same way OpenAI's ChatGPT has since late 2022. ChatGPT is estimated to have reached 100 million users in just two months.1 It took Netflix 10 years to reach 100 million users; six and half years for Google Translate; roughly two and a half years for Instagram; and about nine months for TikTok.2,3 Generative artificial intelligence (AI) is a rapidly evolving field that has the potential to revolutionize many industries. This powerful technology uses deep learning algorithms to create new and original content, ranging from text and images to music and 3D models.