If things continue at their current pace, 2023 will go down in history as the year artificial intelligence (AI) broke out. The viral debut of ChatGPT late last year was the catalyst for the ongoing AI revolution, and its shows no signs of slowing.

Why all the excitement? Simply put, by identifying patterns within existing data, generative AI can create original content based on what it learns. These advanced algorithms can perform a wide range of tasks that includes drafting and editing emails, writing and correcting computer code, and conducting internet searches and answering questions, among many others.

The result is a long and growing list of productivity gains and potential business applications. Conservative estimates from Morgan Stanley and Goldman Sachs suggest AI could boost the economy by $6 trillion and $7 trillion, respectively, by 2030.

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Source Fool.com