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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.

ChatGPT has taken the world by storm – within the first week of its official release it had over a million users and the adoption rate is galloping since then. Already several hundred startups have been set up to build applications around ChatGPT. No domain or activity is going to be left untouched by ChatGPT or such generational AI tools in the coming days. What would be the likely impact on HR function? It should be recognised that while such AI tools would bring about transformational changes, the full implications would be realised as time goes by.

Since "google" entered our vocabulary as a synonym for "search," Google's dominance in the search market has seemed unshakable, making the very idea of competition between search engines seem unlikely. But the entrance of generative AI tools like ChatGPT -- developed by OpenAI in partnership with Microsoft -- has ignited the potential for a competitor to knock Google's capabilities off the top of the search pyramid. Microsoft's new Bing Chat, which integrates the same AI technology that powers the ChatGPT bot, is already generating curiosity, controversy, and a long waitlist of would-be users. Google's parent company, Alphabet, has also developed its own AI chatbot, Bard. The future success and impact of these new technologies are very much open questions, so we turned to our expert panelists for their responses to this statement: The use of generative AI will restore competition in search.

Artificial intelligence's newest sensation -- the gabby chatbot-on-steroids ChatGPT -- is sending European rulemakers back to the drawing board on how to regulate AI. The chatbot dazzled the internet in past months with its rapid-fire production of human-like prose. It declared its love for a New York Times journalist. It wrote a haiku about monkeys breaking free from a laboratory. It even got to the floor of the European Parliament, where two German members gave speeches drafted by ChatGPT to highlight the need to rein in AI technology.

DALL·E 2 is a new AI system that can create realistic images and art from a text description in natural language. OpenAI introduced this innovative artificial intelligence software back in 2022. Right now, more than 3 million people are already using DALL·E 2 to extend their creativity and speed up their workflows, generating over 4 million images a day. Its flexibility allows creators to develop original images ranging from artistic to photorealistic. Users only need to describe what they want to create, and the AI generates state-of-the-art images within a couple of minutes.