Generative AI is a rapidly evolving technology that has gained significant attention in recent years. It is a type of artificial intelligence that involves training machine learning models to generate new data or outputs that mimic human behaviour.. One potential impact of this new trend in its peak of the hype cycle is the creation of a new job: Creating the Perfect Prompts.
What is a prompt?
Well, imagine you’re playing a game where you have to draw something. You might not know what to draw at first, but then someone gives you a hint, like “draw a house” or “draw a flower”. This hint is called a prompt, and it helps you know what to draw. In the same way, prompts are like hints for machines in generative AI. They tell the machine what kind of thing to create, like a picture of a cat or a story about a dragon. With these prompts, the machine can create all sorts of new things, just like how you can create all sorts of drawings with different prompts!
For applications like ChatGPT, Midjourney (AI Image Generation), Rewind (AI Data Search) to thrive, they will require a pool of Perfect Prompt Professionals as the technology requires good prompts to work effectively. Creating the perfect prompts involves designing questions or prompts that guide the AI to perform tasks such as writing a blog, analysing data, creating a picture, etc. The prompts need to be clear, concise, and precise to enable the AI to provide the desired output.
The new job of creating the perfect prompts has the potential to be a highly sought-after profession. It might not be as easy as it looks as a perfect prompt requires a deep understanding of AI and machine learning, as well as creativity, critical thinking, and communication skills.
Consider below the 2 prompts for an entrepreneur thinking of building a project in the plant-based meat market.
Prompt 1 — Analyze the market for plant-based meat substitutes
The market for plant-based meat substitutes has been experiencing significant growth in recent years. This growth is driven by various factors, including increasing health and environmental concerns among consumers, improvements in taste and texture of plant-based meats, and rising awareness of the negative impacts of meat consumption on animal welfare, climate change, and sustainability.
However, despite the growth and potential of the plant-based meat market, it still faces some challenges, including high production costs, lack of awareness and availability in some regions, and potential regulatory hurdles.
Overall, the market for plant-based meat substitutes is expected to continue growing in the coming years, driven by changing consumer preferences and increasing concerns for health, environment, and sustainability.
The above prompt gives info that is too generic and doesn't help entrepreneur convince their investors. In comparison,
Prompt 2 — Analyze the market for plant-based meat substitutes in the United States. Please find the growth trends, top players, top investors and the total market value estimated by 2030 Also include the sources from where you are sourcing your information
According to the market research firm Meticulous Research, the U.S. plant-based meat market is expected to reach $13.8 billion by 2027, growing at a CAGR of 19.4% between 2020 and 2027. Another report by Grand View Research estimates the U.S. plant-based meat market to reach $12.1 billion by 2025, growing at a CAGR of 19.4% between 2019 and 2025.
The top players in the U.S. plant-based meat market include Beyond Meat, Impossible Foods, and Gardein. Beyond Meat reported net revenue of $406.8 million in 2020, while Impossible Foods is a private company that has raised over $1.3 billion in funding from investors such as Bill Gates and Google Ventures. Other notable players in the market include Morningstar Farms, Lightlife, and Tofurky.
Some of the top investors in plant-based meat companies include venture capital firms such as Kleiner Perkins and Khosla Ventures, as well as celebrities like Leonardo DiCaprio and Oprah Winfrey. These investors have helped to fuel the growth of the plant-based meat market by providing funding for research and development, marketing, and distribution.
According to a report by MarketsandMarkets, the global plant-based meat market is expected to reach $35.4 billion by 2027, growing at a CAGR of 15.8% between 2020 and 2027. While it is difficult to estimate the exact size of the U.S. plant-based meat market by 2030, it is likely that it will continue to grow and potentially reach a value of several billion dollars.
“Plant-Based Meat Market 2020–2027” by Meticulous Research ;;“Alternative Meat, 2019–2025” by Grand View Research ;; “Plant-Based Meat” by MarketsandMarkets.
However, The Rise of the Perfect Prompt Professionals comes at a cost! The emergence of this new job could result in the loss of digital vocational jobs that are currently performed by humans. There is a host of jobs such as data entry, copywriting, and programmers that are under threat (estimated to be nearly 20% of the workforce).
But I believe these jobs will just evolve into the same jobs that are "Generative AI-Enabled" with the laggards losing competitive advantage.
Arguably, the biggest negative impact is the negative ripple effect this will have on innovation that stems from growth in fundamental skills such as data analysis, basic research, and creative writing. In addition, the increased reliance on AI could lead to biases creeping in. My next article will dig deep into this and I will try to prove how these cons can lead to nuclear war!
Let's talk about what most of you would have already figured out.
I was scarily surprised by how much I was able to rely on ChatGPT’s knowledge base and language proficiency to produce this article in a fraction of the time it would have taken me to do it manually.
However, it wasn’t all smooth sailing. I had to spend time editing and reworking parts of the article to ensure it flowed well and conveyed the intended message. As impressive as AI technology is, it still has its limitations and is not yet capable of the nuanced creativity and critical thinking skills that humans possess.
Despite the potential negative impacts of Generative AI, it is clear that this technology has enormous potential to transform the way we live and work. Or will this technology create a dystopian Black Mirroresque future?? Time will tell!!