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Generative AI: Implications and Opportunities for Business

Delve into generative AI, such a ChatGPT, to learn how to safely and effectively use this technology to benefit your business.

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The CPD Certification Service

This course has been certified by the CPD Certification Service as conforming to continuing professional development principles. Find out more.

Understand how machine learning can improve services

In recent years, generative AI such as ChatGPT has exploded in use and early-stage adoption. This powerful disruptive technology is already being used in businesses to lower costs, deliver new services better and faster, and to create new production capabilities.

On this four-week course, you’ll delve into how generative AI works as you unpack the dynamics and implications of this technology on the economy, society, and work.

Explore the anatomy of generative AI models

You’ll start by exploring a brief history of generative AI to understand how machine learning has evolved to that of a skilled human.

With this knowledge, you’ll then learn the basic anatomy of generative AI and the economic environment in which they live.

Unpack how generative AI is used in business

Next, you’ll discover the basic business models of generative AI application to understand how it is used in different contexts.

You’ll explore the major industries facing rapid change, unpacking how technologies disrupt, compete, and complement other technologies and people.

Discover the implications of AI ethics

On the final week of the course, you’ll delve into the issues, barriers, and opportunities of generative AI adoption and use in business.

You’ll discuss a range of topics including ethical and regulatory risks and the institutional approaches to overcome these issues.

Finally, you’ll learn how companies and people can effectively prepare for generative AI as this technology continues to become more integrated throughout the economy.


  • Week 1

    The Basic Anatomy of Generative AI

    • Introduction

      Introduction to the course

    • Exploring AI and Generative AI

      This section provides a comprehensive understanding of the evolution of AI, the various techniques used in generative AI, and the major players in the AI industry today.

    • Untangling Categories of Generative AI

      This section gives an overview of different AI models and categories. It gives students the opportunity to experiment with different generative AI tools to learn more about each category and how to assess them for quality.

    • Working with Generative AI

      In this section, we learn about prompt engineering and practice how to optimise prompts to efficiently and effectively use a variety of generative AI tools.

    • Week 1 Wrap-Up

      A summary of what we have covered this week.

  • Week 2

    Implications of Generative AI for Business

    • Introduction to Week 2

      Welcome to Week 2.

    • Economic Models for Generative AI

      In this section we explore different economic models for thinking about generative AI and business strategy.

    • Transformational Impact of Generative AI on Business and Strategy

      In this section we explore how generative AI is transforming the workplace and how business leaders can use AI in their strategy and redesign their business models accordingly.

    • Building Skills for the Future

      In this section we look at the skills required to be a prompt engineer, an emerging role for generative AI

    • Week 2 Wrap-Up

      A summary of what we have covered this week.

  • Week 3

    Generative AI in Industry

    • Introduction to Week 3

      Welcome to Week 3.

    • Implications for Industry

      What are the implications of generative AI for industry?

    • Creativity: from originality to imagination

      This section looks at how generative AI is impacting the creative industry.

    • Business: from improvement to transformation

      This section explores the implications of generative AI in the business sector.

    • Technology: from automation to innovation

      This section explores the impact of generative AI on software development and Web3 technologies.

    • Week 3 Wrap-Up

      A summary of what we have covered this week.

  • Week 4

    Challenges in Adoption and Use

    • Introduction to Week 4

      This section provides an overview of what material will be covered this week.

    • Best Practices for Adoption and Use

      This section explores how to use AI effectively and some of the challenges that come with generative AI models.

    • Legal and Regulatory Considerations

      This section explores some of the legal risks associated with generative AI and provides a range of strategies to mitigate these issues.

    • The Good, the Bad, and the Controversial

      This section highlights some of the good, bad, and controversial ideas surrounding generative AI that have been discussed in the course.

    • Course Wrap-Up

      Reflecting on what we have learned throughout the course and looking ahead to how you will use generative AI after completing this course.

Who is this accredited by?

The CPD Certification Service
The CPD Certification Service:

The CPD Certification Service was established in 1996 and is the leading independent CPD accreditation institution operating across industry sectors to complement the CPD policies of professional and academic bodies.

When would you like to start?

Start straight away and join a global classroom of learners. If the course hasn’t started yet you’ll see the future date listed below.

Learning on this course

On every step of the course you can meet other learners, share your ideas and join in with active discussions in the comments.

What will you achieve?

By the end of the course, you‘ll be able to...

  • Recognise the taxonomy and components of generative AI models
  • Understand the business and economic implications of generative AI
  • Reflect on the use of generative AI in different industries
  • Employ prompt engineering techniques to create and optimise prompts for a generative AI model
  • Reflect on the ethical, legal and safety risks associated with the use of generative AI

Who is the course for?

This course is designed for those with a basic level of familiarity with generative AI tools, such as ChatGPT.

You’ll gain a guided entry into the world of generative AI to help you explore the technology safely, interact with the tools effectively, and discuss the topic confidently.

What software or tools do you need?

To fully participate in the course, it is recommended that you have access to the following generative AI tools:

DALL-E: a free AI system that can create realistic images and art from a description in natural language.

ChatGPT: a free generative AI chatbot that allows you to have conversations via natural language prompts.

Throughout the course, you will also be introduced to a range of other generative AI models. You are encouraged to use them to understand how they work, but it won’t impact your ability to complete the course if you choose not to.

Who will you learn with?

Jason Potts is a Distinguished Professor of Economics, Co-director of the Blockchain Innovation Hub at RMIT. His research work focuses on the economics of innovation and new technologies.

Kok-Leong Ong is a Professor of AI & Analytics and Director of RMIT's Enterprise AI & Data Analytics Hub. He was named Leading Data Academics 2021 by CDO Magazine, an MIT originated publication.

Dr. Phuong Hoang (Emmy) currently serves as the Senior Program Manager of Digital Marketing at The Business School, RMIT Vietnam.
Emmy holds a Ph.D. in IS, with a 2nd specialization in Marketing.

Who developed the course?

RMIT University

Royal Melbourne Institute of Technology (RMIT) is a global university, with over 80,000 students, specialising in technology, design and enterprise.

  • Established

  • Location

    Melbourne, Australia
  • World ranking

    Top 210Source: QS World University Rankings 2022

RMIT University Digital3

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What's included?

This is a premium course. These courses are designed for professionals from specific industries looking to learn with a smaller group of like-minded individuals.

  • Unlimited access to this course
  • Includes any articles, videos, peer reviews and quizzes
  • Tests to validate your learning
  • Certificate of Achievement to prove your success when you're eligible
  • Download and print your Certificate of Achievement anytime

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  • Learn through a mix of bite-sized videos, long- and short-form articles, audio, and practical activities
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  • Experience the power of social learning, and get inspired by an international network of learners
  • Share ideas with your peers and course educators on every step of the course
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Map your progress

  • As you work through the course, use notifications and the Progress page to guide your learning
  • Whenever you’re ready, mark each step as complete, you’re in control
  • Complete 90% of course steps and all of the assessments to earn your certificate

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