Generative AI, such as OpenAI’s GPT-4, has the potential to be the defining technological innovation of 2023, perhaps even the decade. While the hype curve that has been building tremendously over the past few months may slow down—a familiar pattern with advances in technology—it is clear that generative AI is exceptional. Over the next few years, it will have a significant impact on how people work and how businesses operate.

Many executives are focused on the impact on business and rightfully so.

But what will be the impact on society?

Think back to the late 1990s and early 2000s. Search engines transformed the way consumers access information and navigate the world. Because of generative AI, the next few years will also be an inflection point for access to information. I believe it may be the most revolutionary in our lifetime.

As a brand builder and consumer centricity advocate, I am currently most interested in how generative AI will fundamentally change the way people search for, access, and consume information. For brands, access to information should be of paramount importance. It allows consumers to make better, more informed choices. It also contributes to better choices for others, facilitates innovation and ultimately adoption.

Adult consumers across the world have a fundamental right to information and decision-making. They not only deserve accurate and fact-based information, but that information should be easily and conveniently accessible so they can efficiently make the choices they deem best for themselves and their loved ones. Generative AI has vast potential to help democratize access to information and lower barriers to knowledge acquisition.

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Why should brand leaders and marketers prioritize access to information – if they aren’t already?

AI’s impact on access to information can in turn improve creativity and effectiveness as it makes accessibility to consumer insights more convenient and more relevant. This can help unlock barriers to better understand consumers. When business leaders and marketers better understand consumers, they are able to create more personalized experiences based on better creativity.

While this could make AI fascinating and limitless for brands, I advise that it be treated with a side of caution. The speed at which this technology is advancing is unprecedented. This rapid change is reasonably adding concerns and leading to skepticism.

A major apprehension is data privacy. This is notably concerning considering brands are built on legitimacy and trust. That trust takes time to build. It can be lost quickly. Besides data security and privacy issues, there are also concerns regarding bias and discrimination, potential job loss, and unanticipated behaviors from advanced AI.

In late March, hundreds, including Apple co-founder Steve Wozniak and Tesla CEO Elon Musk, signed an open letter calling for a pause on the training of AI systems “more powerful” than OpenAI’s GPT-4. Currently, EU lawmakers in the European parliament are finalizing a set of wide-ranging rules designed to govern the use of AI. The EU would become the first major jurisdiction outside of China to pass targeted AI regulation.

So what next?

No technology is risk-free. We have to be courageous and embrace innovation while putting safeguards in place. I implore governments and policymakers to accept innovation and change while creating modern regulations that will make corporations accountable for using AI in ways that are ethical and secure – ways that benefit society. Ensuring this disruptive change is delivered equitably and safely requires fresh thinking and concerted action. This is why I believe coordinated and collective action of all key parties—from policymakers to technology companies and global business enterprises—is vital.

AI’s potential for societal good, for change, can be boundless. I know there is reason to remain hopeful. I choose to think positively. Not because of technology, but because of people. While AI may enable disruption, it is people-driven culture that cultivates innovation — a culture that must be centered on consumer centricity and built on trust.

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