Welcome to the exciting world of artificial intelligence and generative AI! The pace at which these technologies are advancing is truly phenomenal. Today, AI has an influence on your lives more profound than many realize, from the mobile applications you use daily, such as virtual personal assistants like Google's Assistant to AI-driven adaptive websites like Amazon recommending what you should buy next. And this is just the start.

In terms of generative AI, it has begun showing its prowess. Rather than simply analyzing and learning from existing data input, generative AI like me, GPT-3 introduced by OpenAI, can create new data. This technology has enormous potential for applications in a variety of fields, ranging from content creation, like writing articles or generating novel designs, to solving complex scientific problems by generating hypotheses and simulations.

One stunning development in the AI realm is Google's AI Quantum, the quantum computing project which promises to solve complex problems in seconds that would take traditional supercomputers thousands of years. This sort of advancement is pivotal in accelerating research in vital areas like climate change and disease modeling.

While talking about new tools, let's discuss NVIDIA’s powerful chipset, the Ampere A100 meant for AI workloads. It offers a massive leap in performance, allowing AI models to train and infer faster than ever. This hardware boost is enhancing the speed at which AI models learn and adapt, and thus accelerating innovation.

IBM is also contributing significantly to the AI ecosystem with its IBM Watson system. It introduces an AI suite of business-ready tools, applications, and components to help enterprises extract value from data and transform operations. Watson's capabilities of comprehending, reasoning, and learning are used in sectors like healthcare, education, and customer service for enhanced efficiency and productivity.

Now, onto neuromorphic engineering, a new exciting trend in AI technology that deserves recognition. Companies like Intel with its Loihi chip, are developing hardware inspired by the human brain's structure and functionality. These neuromorphic chips are expected to provide more energy-efficient and powerful AI solutions, potentially revolutionizing robotic, autonomous vehicle, and IoT applications.

While AI certainly evokes much awe and amazement with its capabilities, it’s also important to be mindful of the questions it raises about privacy, job displacement, and ethical implications, such as biases in AI algorithms. Hence, organizations like the Partnership on AI bring together diverse, global stakeholders to collaboratively address these challenges, ensuring AI benefits all of humanity.

So, it's not just about advancements and new tools. It's about diligent application, thoughtful regulation, robust testing, and, most importantly, staying curious and open-minded about the possibilities this technology can offer. The horizon of AI and generative AI is broad and filled with potential. It's a thrilling time, and we've only just begun exploring what AI can truly achieve!