AI: A Diamond as Big as the Ritz
You can’t sell the dazzle without a diamond!
As creative technology professionals, our approach to artificial intelligence should be filled with curiosity and excitement, not guilt or fear. While GenAI has the potential to open up incredible commercial opportunities in the creative world, to truly harness this power, we need to understand how market forces like demand, supply, and scarcity play a role.
Think of the diamond as big as the Ritz from F. Scott Fitzgerald’s story. A family discovers a mountain-sized diamond, representing unimaginable wealth. However, this immense treasure is kept hidden because releasing it all at once would collapse the market due to its sheer abundance. This metaphor captures the essence of GenAI today. Just as a diamond’s worth comes from its scarcity rather than its sparkle, the value of GenAI depends on how it’s strategically introduced and integrated into the market.
The rollout of GenAI in the tech sector is steady and calculated. The development and release of these technologies are designed to match market demand and maintain value. Take OpenAI’s GPT series, for instance. Each version brings improvements, but they’re released gradually to let the market catch up and integrate new features smoothly.
Adobe’s integration of Firefly GenAI tools, into Creative Cloud appears to following a step-by-step approach to ensure that creative professionals adopt new tools without being overwhelmed. This not only preserves Adobe’s market value but also introduces advanced AI features at a manageable pace. AI’s true commercial potential comes from sustained, manageable growth, not a sudden surge.
While many critic of AI call for increased regulation and industry oversight, it may be argued that laissez-faire market forces, driven by scarcity, profit, and loss, will also regulate AI’s use and spread. Even though we’re sitting on a metaphorical diamond as big as the Ritz, the push to release this potential quickly is tempered by the need to keep the economy stable and growing. This careful introduction of AI technologies helps industries adapt and thrive without disruption.
Recent research from the Reuters Institute and Oxford University, as reported by the BBC, highlights a “mismatch” between the hype surrounding AI and actual public interest. Despite significant investment and media attention, only a small percentage of people regularly use AI tools like ChatGPT, with just 2% of British respondents using such tools daily. It might be argued, that this lack of widespread adoption suggests isn’t an indictment of of the AI economy but evidence that AI innovation is being carefully managed to prevent market saturation and maintain stability.
As creative technology professionals, we should be excited about these developments. GenAI offers chances to boost creativity, improve efficiency, and open new business opportunities. By aligning our strategies with market forces and understanding the importance of controlled release, we can tap into AI’s potential while keeping our industry balanced and thriving
In short, the diamond-as-big-as-the-Ritz analogy highlights the need for a strategic approach to AI. By tying AI activities to principles of scarcity, demand, and supply, the creative industries can make the most of this powerful technology. This approach ensures that AI integration enhances rather than disrupts our creative ecosystems. Embracing this mindset will help us confidently navigate the future of AI, unlocking new possibilities in the creative sector.
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