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Perspectives
What is Generative AI?
The CLO’s guide to Generative AI risks and opportunities
What Generative AI isA subset of AI that empowers machines to imitate the creative human process to produce original content such as text, images, code, voice, and video rather than merely interpreting existing data.1 Generative AI (GenAI) has the potential to add contextual awareness and humanlike decision-making to enterprise workflow. It is powered by large datasets or foundation models, and the algorithms utilized to interpret this data are modeled after the neurons of the human brain. GenAI is different from earlier iterations of AI in three key ways: 01. It’s trained on a large set of data 02. It’s designed to respond to natural language instructions 03. It can generate unique content that looks and sounds like it was created by a human2 |
What Generative AI is not
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Resources
Other Generative AI topics to explore
Learn about other areas of GenAI and how it impacts CLOs and their teams. From the basics to the more complex challenges, these resources are designed to help you navigate GenAI’s legal implications and risks with ease.
1 Deloitte, "Benefits and limitations of Generative AI," 2023. See also, The EU Artificial Intelligence Act, June 14, 2023, which defines AI as “a system that is designed to operate with a certain level of autonomy and that, based on machine and/or human-provided data and inputs, infers how to achieve a given set of human-defined objectives using machine learning and/or logic– and knowledge-based approaches, and produces system-generated outputs such as content (Generative AI systems), predictions, recommendations or decisions, influencing the environments with which the AI system interacts.
2 Deloitte AI Institute, Generative AI is all the rage, 2023.
3 Deloitte AI Institute, A new frontier in artificial intelligence, 2023.
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Lori Lorenzo
Chief Legal Officer Program
Research and Insights Director
Managing Director | Deloitte Risk &
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Deloitte Transactions and
Business Analytics LLP
Erin Hess
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Manager | Deloitte Risk &
Financial Advisory
Deloitte Transactions and
Business Analytics LLP
Jon Foster
Managing Director | Deloitte Risk &
Financial Advisory
Deloitte Transactions and
Business Analytics LLP
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As used in this document, “Deloitte” means Deloitte Financial Advisory Services LLP, which provides forensic, dispute, and other consulting services, and its affiliate, Deloitte Transactions and Business Analytics LLP, which provides a wide range of advisory and analytics services. Deloitte Transactions and Business Analytics LLP is not a certified public accounting firm. Please see www.deloitte.com/us/about for a detailed description of our legal structure. Certain services may not be available to attest clients under the rules and regulations of public accounting. Deloitte does not provide legal services and will not provide any legal advice or address any questions of law.
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