In the swiftly advancing technology landscape, generative AI (genAI) stands out as the latest innovation frontier. Leading the charge in this domain are Big Tech (Alphabet (Google), Amazon, Apple, Meta, and Microsoft). However, with progress comes challenges. GlobalData, a leading data and analytics company, highlights the ongoing ethical, legal, and economic concerns accompanying these advancements.

Kiran Raj, Practice Head of Disruptive Tech at GlobalData, comments: “In their ambitious drive into the genAI space with fresh product innovations and alliances, tech leaders grapple with pressing legal and ethical issues. The unique challenges and costs associated with AI operations add to the complexity. Given the resource-intensive nature of large language models, there is a growing debate over the practicality of fixed-price schemes for AI offerings.”

Saurabh Daga, Associate Project Manager of Disruptive Tech at GlobalData, adds: “AI-generated content faces intense scrutiny, especially concerning intellectual property rights. This necessitates Big Tech to adeptly maneuver through a nuanced legal framework. They must align their operations and strategies with the fluctuating regulatory climate, all while managing risks and ensuring stakeholder trust. Such a scenario can influence their developmental methods, product range, and strategic integration of AI within their ecosystems.”

Yet, in spite of these challenges, Big Tech continues to integrate genAI into various products and services. Google, for instance, though initially lagging, is quickly catching up in the genAI race. Its endeavors include integrating genAI with virtual assistant, powering its primary search engine with the genAI chatbot Bard, and enhancing it with image creation capabilities.

Microsoft, on the other hand, has positioned itself at the forefront of genAI. Its investments in OpenAI, the creator of ChatGPT, and genAI integrations within its browser, search engine, and productivity suite underscore this. The recent launch of Copilot emphasizes its commitment to seamlessly integrate AI into everyday tasks.

Meanwhile, Meta has introduced genAI features tailored for advertisers, allowing them to craft content like image backgrounds and text variations. The company has also unveiled genAI features that craft suitable responses during business interactions on platforms like Messenger and WhatsApp.

Amazon is making notable strides in the genAI sphere. The company has pledged a staggering investment of up to $4 billion in genAI startup, Anthropic. This initiative aims to advance safer genAI technologies. Amazon’s venture into genAI is evident through the launch of Amazon Bedrock, a comprehensive genAI development platform, and the enhancement of its primary e-Commerce platform with an AI-powered customer review feature.

Daga concludes: “While the growth of genAI looks unstoppable, it is clear that caution is required. The genAI landscape is continuously shifting, and the leaders in the space will not only be determined by their innovative capabilities but also by their proficiency in anticipating challenges and their commitment to harnessing the power of AI ethically and cost-effectively. The future technological advancements in genAI thus require innovation along with responsible growth.”