BAKU, Azerbaijan, May 15. Generative artificial intelligence (AI) is developing at a rapid pace, McKinsey & Company's director Rolando Balsinde said at the GSMA M360 Eurasia 2024 conference, Trend reports.
"2023 is the year of generative AI. Three or four years ago, this proliferation of AI was more theory than practice. A few months ago, 13 startups created with generative AI were valued at more than $1 billion," he emphasized.
According to him, corporate adoption of generative AI is accelerating, and companies around the world are starting to utilize AI in their operations.
"We have also witnessed a 400 percent increase in global investment in generative AI by venture capital funds as of October 2023 compared to 2022. We've also seen the fastest adoption of a new technology in history. The number of ChatGPT users reached 100 million in just two months," Balsinde added.
To note, the GSMA M360 Eurasia 2024 international conference is taking place in Baku, spanning from May 15 through May 16. This event gathers leading experts, regulators, heads of mobile operators, IT corporations, high-ranking politicians, and other participants. Baku is hosting the M360 Eurasia conference for the second time.
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