The report Generative AI models — the risks and potential rewards in business examines what the future holds for ChatGPT and other generative artificial intelligence (AI) applications, including how they work and the risks and potential benefits.

We believe that generative AI models have the potential to transform businesses through automating and executing certain tasks with unprecedented speed and efficiency. This is particularly true when human expertise and ingenuity is paired with deep understanding of how to use these programs and effectively harness their capabilities.

However, it will take time and human expertise to unlock their full potential in a way that’s responsible, trustworthy and safe. If you’re considering using generative AI applications, it’s important to establish a set of internal processes and controls for everyone in your organization to follow.

With generative AI use expected to grow rapidly this decade, there’s no time like the present to get these conversations going and processes put in place. Read the full report to discover potential use cases and opportunities, as well as what to consider if you’re thinking of using generative AI applications in your organization.

Generative AI is going to rapidly become part of our daily lives if it isn't already, and we need to determine how to embrace it in a safe and secure way.

Lisa Heneghan
Global Chief Digital Officer
KPMG International