Israeli startup AI21 Labs launched a writing tool, an AI-based one, in January, to empower writers. To Which company raised $64 million, last year and introduced tools for writers to edit and rewrite work.
Since OpenAI's ChatGPT pioneered chatbot technology late last year, a number of applications that understand human speech and text have hit the market, including US startup Jasper AI. Copywriting software developed by and merchandise description platform developed by Toronto-based Cohere.
Some creative AI tools are used to write computer code or generate highly anonymous data for identity protection. Stable Diffusion, developed by U.K. startup Stability AI, can instantly reflect professional levels based on written cues.
Tech companies and venture capitalists are paying close attention to these new businesses. According to Dutch-based data provider Dealroom, investment in generative AI companies was $2.1 billion in 2022, a tenfold increase from 2020.
Users of generative AI are also expanding. For now, it mainly employs the technology sector but is expected to serve other industries by 2024, according to US consultancy Accenture.
The new AI technology could be a boon for Japan as it could help the country deal with issues such as labor shortages and low productivity.
Yet AI-powered systems can sometimes give surprising and inaccurate answers -- mistakes that can lead to legal problems or harm consumers. Therefore, it is very important for users of new technology to know its strengths and weaknesses, and to use it wisely to improve the competitiveness of products and services.
