AI is the buzz word. In conversations, it is AI, AI and more AI. The CEOs at the World Economic Forum, Davos (2024) tell that generative AI still has a lot to prove. It is necessary to arrive at the real value of AI in different sectors. Though ChatGPT is a great conversational tool and can be used as a search engine, it is still not ‘enterprise ready’. There are issues of hallucinations and biases. The solutions proposed by AI are to be within regulatory framework and compliance requirements. C-suite executives would still like to wait till AI goes beyond hype.

Of course, the summarization and message drafting skill of generative AI could be put to good use. As AI companies believe, AI could make contributions to productivity. Still, this has to be seen on company’s P&L account and balance sheet. Sales is one area where AI could make a positive contribution.

In medicine, AI has a limited role at present. It could be a personal assistant to a physician. It can facilitate medical transcriptions. However, it cannot replace a physician. Here we are dealing with human lives. AI can be used for drug design. This could be its most vital use.