Since OpenAI released ChatGPT in November, millions have witnessed firsthand the power of generative AI. But what exactly is generative AI? And is all the hype around it warranted? In short, yes. The business uses abound, write Michael Chui, Roger Roberts, and Lareina Yee, but executives should remain acutely aware of the many ethical and practical challenges that exist at this early stage of the technology’s development. Dive into these insights to understand how generative AI systems work, what tools like ChatGPT could mean for your business, and other technology trends taking the world by storm.