Generative AI has been a hot topic of conversation of late thanks to the increasing popularity of programs like ChatGPT, Jasper and DALL-E. The text and image generators use artificial intelligence to quickly produce new media content, including articles, essays, social media posts and videos.
The technology is expected to change the way we live and work and could have a substantial impact on several industries as more and more companies use it. In fact, more than 70 percent of people polled in a 2023 study reported using generative artificial intelligence tools, such as chatbots, as a part of their company’s work.
Introducing Gen.V
With an eye toward improved customer experience, Verbit is proud to announce its new generative AI product suite that will enable customers to gain even greater value and insights from their Verbit-produced transcripts.
Verbit developed its generative AI – “Gen.V” – with our proprietary, reliable and advanced technology. It combines highly trained natural language processing, content generation abilities and artificial intelligence to identify the most important elements of a transcript.
“With this new service, we are letting our customers enjoy the benefits of generative AI within their native workflows with prompts that have been tested and are continuously improved by trained engineers,” said David Landsberg, Vice President of Product Management at Verbit. “With Gen.V, we’re bringing generative AI to the customer, they never have to go looking for it.”
Users simply need to click the “Use Gen AI” button on their Verbit transcripts to activate the enhanced features. Gen.V then quickly analyzes the content, extracts key information and provides automatic summarizations, chaptering, quizzes, keyword and SEO highlights and headline suggestions.
Verbit is introducing this new feature to clients in higher education with plans to roll it out to additional sectors later this year.
“We believe the greatest value is created when services and solutions match customer needs,” said Tom Livne, Verbit’s CEO & Founder. “As such, Verbit is focusing on generative AI and uncovering industry-specific applications in each of our industries. We’re excited that our first product for higher education is now live, and we’re in process of rolling out promising applications in other areas such as using AI to find contradictions in live depositions for the legal sector.”
Generative AI in Education
Though some are concerned about the role that unregulated, unsupervised generative AI can have in the classroom, many others see its potential in the education sector in creating new learning experiences for students.
For instance, a Forbes article suggests that generative AI could be used to create adaptive learning experiences that would adjust in real time to students’ needs and abilities. Using generative AI to analyze student learning patterns and preferences, content and teaching methods could be adjusted to enable students to receive more targeted and effective support.
Other examples of generative AI in the classroom include:
• Creating customized study plans and learning aids for students based on their performances, strengths and weaknesses.
• Developing interactive learning activities, such as games and simulations, to help students understand complex concepts.
• Generating questions for students to answer based on their current level of understanding and achievement.
How Generative AI is Used in the Classroom
A recent survey from EDUCAUSE found that more than half (54%) of respondents (school faculty, staff, and directors) indicated that they were ‘optimistic’ or ‘very optimistic’ about generative AI in general, with only 12% describing themselves as ‘pessimistic’ or ‘very pessimistic.’ The survey showed that teachers and students, alike, already use generative AI to help with developing ideas and drafting and editing content.
The survey also gauged how students, faculty, and staff use generative AI in their workload.
Students:
- Accommodations and accessibility
- Tutoring or course content comprehension
- Conducting research
- Résumé writing
- Improving existing tools such as tutor bots
Faculty and Staff:
- Including “wise use” of AI tools in learning objectives
- Institutional research
- Student support services
- Website content
- Marketing materials
- Letters of recommendation
- Malware analysis
Investment in Education Technology
The education industry is evolving, and generative AI may play a larger role in its future.
A report by Bloomberg Intelligence predicts the generative AI market is expected to grow to $1.3 trillion over the next 10 years from a market size of just $40 billion in 2022. The report shows that spending on generative AI products in the education sector during that same time is expected to increase by 53% and cites the potential need for AI-based software assistants for information searches and summarizations among the key drivers.
As an AI company, Verbit will continue to use the latest technologies to enhance its transcription and transcription-related services. We work as a trusted partner for all university transcription and captioning needs, and our solutions are designed to increase student engagement and satisfy disability-related requirements for live courses and recorded content.
Contact us to learn more about how we can help you better connect with students and provide a more inclusive experience for all.