Since the recent announcements of OpenView’s ChatGPT, Google’s Bard, and Baidu’s ChatBot, the industry has been in a frenzy advancing Generative AI products and solutions. Brainy Insights estimates that the generative AI market will grow from USD $8.65 billion in 2022 and reach USD 4188.62 billion by 2032. This translates to over 36% CAGR making generative AI one of the next hottest areas to elevate AI innovations. The software segment will account for the highest revenue share of 65.0% in 2021 and is expected to retain its position over the forecast period.
What is Generative AI?
Generative AI is a form of AI that produce various types of content including text, imagery, audio and synthetic data. The recent buzz around generative AI has been driven by the simplicity of new user interfaces for creating high-quality text, graphics and videos in a matter of seconds. Although not a new technology, the introduction of generative adversarial networks, or GANs which is a type of machine learning algorithm has advanced the innovations in using this form of AI.
COQUI — Generative AI will Revolutionize Voice
The exciting news is that former Mozillians have just raised $3.3M for Coqui, generative AI speech synthesis for all creatives. Prior to founding COQUI, the CEO Kelly Davis led the Mozilla Machine Learning Group, which focused on speech technology. Before that, he worked at the Max Plank Institute for Gravitational Physics and also did his Ph.D. work in Superstring Theory.
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