November 2022 saw the release of ChatGPT, a generative artificial intelligence (AI) chatbot created by San Francisco-based research lab OpenAI. Acclaim was swift—it attracted more than one million users within five days of public launch, and the quality of ChatGPT’s performance placed it among the leading products in its field. The global generative AI market, which MarketsAndMarkets valued at US$6.5bn in 2022, is now forecast to grow 700% by 2028.
The rise of generative AI could have far-reaching implications for the automotive industry, and players are already preparing for a new era. In July 2023, Mercedes-Benz announced that it was training 600 data and AI specialists globally to ensure the future viability of its business. Some sectors, such as design, are currently grappling with the changes that AI image generation could bring to project development.
Despite some concerns about the prospect of machines displacing people in key roles, McKinsey & Co concludes that generative AI is not advanced enough for human input to be removed from the loop. At least for now, AI will serve as a new tool at workers’ disposal, not their replacement.
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