Generative AI, as a technology stack, has only recently evolved beyond a gimmick and into a platform. The value of this technology lies in its ability to create content. Tools like ChatGPT have shown they are best leveraged to augment people and accelerate content production. Being able to configure tone, context, and textual output at the speed of prompts means that immersive experiences can be created at a business value cost. What it isn’t good at is providing finished, quality content. Also, any content it generates cannot be copyrighted. While this technology drives efficiency, it’s best suited to a small team of highly qualified staff that are prompt engineers. But how do you monetize it?
Generative AI is great at creating new and differing perspectives that humans cannot do at scale. A novel example of that is a drug discovery platform called Pharma.AI. Creating and evaluating different combinations of compounds as test input data allowed a team of researchers to create a new cancer drug that showed promise all in under a month.3 While it doesn’t provide the expertise to test the drugs, generative AI gives medical experts the tools to accelerate drug discoveries and synthesize data into analysis.
Web3 has finally stepped out of the hype cycle and into reality. For enterprises, it’s not about changing the internet—it’s about monetizing experiences. Digital experiences can only exist if people are willing to create them. Enterprises will only develop and sell digital experiences if they can charge them without the risk of piracy. By leveraging Web3, customers can enjoy the experiences, and enterprises are assured of the ownership of their digital offerings.
Almost everybody has heard of NFTs (non-fungible token), but what they may not be aware of is that tokenization is foundational to Web3. T is when a token stands in for sensitive data, replacing its value. A token can stand in for almost any asset, such as currency, intellectual property, trading cards, and art. It’s also a powerful concept to enable cooperative commerce.
One company, Xange, is using tokenization to create a sustainable future. By developing a method where carbon credit providers can offer their credits for purchase in a trusted model, they’re leveraging blockchain to reduce the impact of climate change.4 One of the greatest challenges in the ESG domain is greenwashing, or faking carbon credits. This lack of trust in the marketplace is inhibiting many enterprises in purchasing carbon credit. With Web3, a trust model can be easily created and monetized to support the most challenging commerce models.
A Metaverse Future, Today
While the “metaverse” may not be around the corner, metaverse experiences are achievable today. These three technologies—immersive, generative AI, and Web3—are the building blocks to the future of CX. Future forward brands are already turning them into business value.
To find out how, watch this interview on Web3.