Generative vs. predictive Artificial Intelligence – exploration of use cases

Examine the difference between generative and predictive AI and examples of their respective use in the world today.

• Generative AI is concerned with producing fresh and unique material, such as realistic visuals or music, by learning from big data and creating innovative output.
• Predictive AI is concerned with generating precise forecasts for future incidents or outcomes based on previous data, providing insights into future events or outcomes.

What artifacts are generated to document the models your organisation develops: (a) model development, business rules and testing, (b) release approvals, (c) retrospective testing, (d) model inputs, outputs, and usage documentation, (e) post-release monitoring and more? How do these artifacts align to your retention schedule?

What artifacts are generated to document the models developed by others that your organisation uses: (a) model inputs, outputs, and usage documentation, (b) monitoring and more? How do these artifacts align to your retention schedule?