July 15, 2024. Edith Muthoni
Generative AI popularity and interest have grown astoundingly over the past six months. According to Stocklytics.com, Google’s global searches on the keyword ‘generative AI’ surged by 90 percent, rising from 52 index points to 99 points.
The site’s financial analyst, Edith Reads, comments: The multifaceted abilities of generative AI to create engaging written content and visually striking designs have resonated profoundly with the current generation, driving its increasing popularity and widespread acceptance.
Global Google Search On Gen AI
In 2023, the Google search index for generative AI had declined to 52 points, down from a peak of 99 points in early June of the same year. However, 2024 saw a resurgence of interest, with a particularly pronounced boom in searches for ‘generative AI’ from mid- February to early March, peaking at 100 index points in the week ending March 3. This heightened interest has persisted, with the global Google search for “generative AI” registering at 99 percent on June 23rd, underscoring the continued fascination with this technology. The increased searches for generative AI are closely tied to the popularity of OpenAI’s chatbot model, ChatGPT, which remains a leading generative AI globally. Currently, most users use chatbots to fill knowledge gaps and brainstorm. As of 2023, more than 50 percent of users used generative AI technology for answering questions and brainstorming sessions. Moreover, over 30 percent of users utilized generative AI for creating photos, music, and videos, underscoring the growing interest in chatbots’ ability to make video and imagery content. Coding and writing lyrics were the least influential use cases, with barely 18 percent of users using generative AI in such tasks.
Why is Generative AI Growing in Popularity?
The launch of ChatGPT highlighted the transformative potential of artificial intelligence (AI). Unlike traditional AI applications that analyze or classify existing data, generative AI can create new content, spanning text, images, audio, synthetic data, and more. Its ability to compose music, generate images, and craft compelling written content has demonstrated versatility and utility, drawing a dedicated following. Besides, generative AI enhances productivity and creativity among businesses that use it. About 65 percent of users say their organizations regularly use gen AI in at least one business function, up from one-third last year. Gen AI’s ability to increase productivity and aid in marketing sales makes it relevant to today’s business organizations.
Edith is a fintech expert and a trader with over 10 years of industry experience. She is knowledgeable about blockchain, NFTs, Cryptocurrencies, and stocks – all from an informed perspective that will help you make better decisions when it comes time to invest your money.
