An AI-generated image. Source: SmartCompany
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By Tojin T Eapen, Daniel J Finkenstadt, Josh Folk and Lokesh Venkataswamy
There is tremendous apprehension about the potential of generative AI —ntechnologies that can create new content such as audio, text, images and video — to replace people in many jobs. But one of the biggest opportunities generative AI offers to businesses and governments is to augment human creativity and overcome the challenges of democratising innovation.
The term “democratising innovation” was coined by MIT’s Eric von Hippel, who, since the mid-1970s, has been researching and writing about the potential for users of products and services to develop what they need themselves rather than simply relying on companies to do so.
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