Generative AI has captured the attention of numerous businesses across the world. A year ago, it was known to no one. And today, everyone is trying to adopt it; right from freelancers to startups and enterprises. Businesses are wondering how they can include this modern technology in their tech stack and benefit from it.
In this post, we will learn more about generative AI, its applications, and the best generative AI tools you can use for your business in 2024.
What is Generative AI?
Generative AI or Generative Artificial Intelligence is a type of AI that can research ideas and create content automatically by leveraging natural language processing and machine learning algorithms. It utilizes complex computational skills to understand patterns in input text, gauge the intent, and produce outputs that depict human-like creativity.
Generative AI history dates back to the early 2010s when there were notable developments made in the field of deep learning techniques. Instead of classifying and analyzing data, the newly discovered AI models could create entirely new content.
So, what's the difference between AI and generative AI?
Traditional AI vs Generative AI
Traditional AI refers to the technologies and techniques that enable computers to perform repetitive tasks that would take humans significantly longer times to complete. Generative AI, on the other hand, is a subset of AI that focuses on creating content by learning patterns and trends in existing data. In traditional AI, you train the models to perform specific tasks. While generative AI learns on its own without any supervision.
How Is Generative AI Shaping Various Industries?
Generative AI tools are helping various industries to achieve their unique goals. Here are a few use cases of its application.
- Content Creation - Generative AI tools are helping writers and marketers create unique content for blog posts, articles, website copy, email newsletters, and so on. As per a Salesforce survey, 55% of marketers are already leveraging generative AI for streamlining content creation while 22% are planning on adopting it in the future.
- Graphics and Design - Designers are using generative AI to create attractive illustrations, website designs, book covers, and more. Generative AI has also proved its mettle at image editing, creating visual effects, building realistic animations, and more.
- Retail - Generative AI is used by eCommerce retailers and fashion enthusiasts to generate innovative clothing design ideas as per the latest industry trends. It can offer incredible virtual try-on experiences to customers to learn how a certain piece of clothing would look on them before they make a purchase.
- Software Development - Generative AI helps software engineers generate code snippets and suggest solutions to coding-related challenges. It can also help in identifying software issues and bugs and contribute to faster software testing.
- Recruitment - Recruiters are leveraging generative AI to streamline their candidate sourcing and screening processes. It can conduct a thorough resume analysis to check whether the application fulfills the job requirements. Further, AI-powered chatbots are boosting candidate engagement with real-time assistance and regular job application status updates.
Top 5 Generative AI Tools, Platforms, and Websites
Here is a list of the best 5 generative AI sites and platforms you can consider investing in 2024.
1. ChatGPT
Purpose - For research, content creation, and a virtual assistant to respond to your queries.
ChatGPT is a free-to-use generative AI tool that can answer your questions, write content, and translate it to different languages, draft emails, write code, and so much more. It is an excellent tool that engages you in a conversational dialogue to answer your queries and grow your business.
Key Features -
- Understands natural language inputs and comprehends their intent automatically.
- Generates any type of content based on the input it receives.
- Provides accurate responses on any topic and aids you with research.
- Contains mechanisms to handle sensitive content and ensures the output adheres to ethical standards and community guidelines.
Pros -
- Contains a simple user interface.
- Is available 24*7 to answer your queries.
- Has access to vast amounts of information and offers contextually relevant and accurate responses.
Cons -
- Lacks creativity.
- May generate misleading content
- The free version can be occasionally buggy.
Pricing -
ChatGPT is free to use. Its premium plan starts at $20 per month.
2. Midjourney
Purpose - For AI image generation and editing.
Midjourney is another generative AI tool that creates stunning images based on simple textual prompts. It reads your text prompt, understands it, and generates a relevant image. On average, this AI image generator can generate around four images in a minute.
Key Features -
- Offers excellent text-to-image generation capabilities.
- Can generate a variety of images following different artistic styles.
- Provides complete control over modifying the generated images by specifying size, resolution, and more.
- Can remove background from existing images and replace them with entirely new ones.
Pros -
- Create high-quality and detailed visuals including logos, book covers, posters, marketing assets, and more.
- Generates highly realistic images. For example, it can generate fine art illustrations or AI characters using watercolors.
- Easy to use platform.
Cons -
- Available only on the Discord platform.
- Does not offer a free trial.
- Offers limited customer support.
Pricing -
Midjourney pricing starts from $10 per month.
3. Jasper
Purpose - For writing various forms of content and managing SEO.
Jasper AI is an AI writing tool that is designed to generate blog posts, product descriptions, social media captions, and other types of marketing copies. This AI-powered writing assistant helps you brainstorm engaging content ideas and generate original content for your brand.
Key Features -
- Generates engaging and high-quality content based on your prompts and questions.
- Auto-saves the generated content and keeps revision history in the records for future reference.
- Checks the content for plagiarism to ensure its uniqueness.
- Integrates with Grammarly and other Chrome extensions for added functionality.
Pros -
- Generates unique content in just a few seconds.
- Generated content is well-written and sounds quite natural.
- Available at affordable pricing plans.
- Offers a free 7-day trial.
Cons -
- The generated content may require heavy editing.
- It may lack your brand voice.
- It may produce content that is factually incorrect.
Pricing -
Jasper pricing starts from $49 per member per month.
4. Notion AI
Purpose - For simplifying and streamlining project management.
Notion AI is a generative AI add-on offered by Notion for its proprietary project management and productivity platform. It acts like an intelligent business assistant that responds to any questions related to your project, meetings, and your overall business operations.
Key Features -
- Brainstorm and research ideas for content creation.
- Write engaging content for your business.
- Summarize meeting notes or a long document to list down important points.
- Transform your existing content by changing the tone, reviewing it for clarity, and translating it to other languages.
Pros -
- Offers AI templates to integrate with your existing Notion workflows.
- Generates high-quality content instantly.
- Has extensive documentation and tutorials for better product understanding.
- Is a user-friendly platform.
Cons -
- Works only with your data utilized in Notion.
- Involves a steep learning curve.
Pricing -
- Notion AI is available as an add-on for $10 per member per month.
5. Bodt
Purpose - For building conversational AI chatbots for streamlining customer service.
Bodt is the last tool in this list of generative AI tools that helps you build and deploy AI chatbots for your websites. Powered by generative AI, Bodt aims to improve your customer engagement and boost business efficiency. It is one of the best conversational AI chatbots for eCommerce businesses.
Key Features -
- Build and deploy website chatbots to offer 24*7 customer support.
- Share smart product recommendations with customers for better engagement.
- Capture visitor information with the help of chatbots for lead nurturing.
- Create a centralized knowledge hub to manage business-related information.
- Monitor chatbot performance via analytics and optimize your operations.
Pros -
- Offers design flexibility to make the chatbot match your brand aesthetics.
- Easy chatbot setup using visual chatbot builder in 3 easy steps.
- Supports multiple languages to help you serve a global audience.
- Allows you to build unlimited chatbots no matter which subscription plan you choose.
- Does not require you to have any technical or programming knowledge to create these chatbots.
Cons -
- Relatively new in the market.
Pricing -
Bodt pricing starts at just $1 per month.
Summing Up
From generating content to creating visually appealing images, from automating customer service to code building; Generative AI has helped many businesses in simplifying their operations.
We have shared a list of top 5 generative AI tools that you may need to optimize your business operations. Regardless of which of these generative AI sites you decide to invest in, it is mandatory to test out the software. You will be surprised to see the potential of generative AI in transforming your business.
Frequently Asked Questions
What is an example of generative AI?
Bodt is an example of a generative AI tool.
Which is the best generative AI tool?
There is not just one best generative AI tool as each tool serves a different function. Some of the popular examples of generative AI include ChatGPT, Midjourney, Bodt, Jasper, and Notion AI.
What industries can benefit from generative AI?
Generative AI can benefit a number of industries, such as customer service, healthcare, finance, architecture, engineering, and so on.
What are the advantages of generative AI?
Generative AI is known to automate and augment manual tasks and execute complex functions. Some of the benefits of generative AI include -
- Enhanced customer experience
- Faster content creation
- Improved employee productivity
- Maximized operational efficiency
What are the known risks of generative AI?
Generative AI has the potential to generate misleading or biased content that could spread misinformation and fake news. It can be misused to create deep fake videos and other synthetic media for malicious purposes.
