2023 has been dominated by generative AI headlines. Generative AI, or “GenAI,” especially related to generative pre-trained transformers (GPTs) that enable large language models (LLMs) such as GPT-4 (and numerous others, including open-source models), has overshadowed a large body of other non-generative AI/machine learning (AI/ML) tools that help build up a collective set of purpose-built analytical capabilities. These tools help generate predictive and prescriptive insights to assist business users — quite often embedded “behind the scenes” into business applications.

LLM-based chatbots have certainly captured imaginations because of the engaging conversational user experience. However, the latest advancements in GenAI are also a cause of massive upheaval in the technology provider ecosystem. They have created equal measure of hype/”FOMO” and concerns about data quality/reliability, explainability (e.g., LLM-powered GenAI chatbots that “hallucinate” answers), security/privacy, responsibility/ethics, cost and tech ecosystem volatility in the market