Hello everyone, let's take a dive into the intriguing world of AI and its various applications, particularly focusing on Generative AI. AI, or Artificial Intelligence, as we know it has gone beyond just data analysis and robotic process automation. It's now delving into previously untrodden territories like creativity and design, thanks to Generative AI.

Generative AI, a subset of artificial intelligence, utilizes algorithms and statistical models to generate content. Popular models like GPT-3 by OpenAI or BERT by Google, are examples of generative AI and have shown their ability to create fascinating output, from writing original essays to designing web pages and even composing music.

Let's take GPT-3 for example. This AI model is extraordinary; it's been trained on a great variety of internet text, but with 175 billion machine learning parameters, it can also generate creative outputs, like writing articles, answering questions, translating languages, and even creating poetry. But keep in mind, though powerful, it has its limitations. It can sometimes write nonsensical or off-topic content, because it's not perfect. It essentially tries to predict what comes next in a sequence of text, and doesn't understand the content like we humans do.

Also, we have several examples of generative design being used in the tech industry. Autodesk, the software company widely known for its 3D design, engineering and entertainment software, introduced a tool called Dreamcatcher. This tool uses AI to provide designers with several design options by simply inputting their design goals and material parameters. The AI then generates several high-performing design options, effectively simplifying and enhancing the creative process.

Generative AI isn't only limited to text and design, but it has been applied to generate realistic computer graphics too. NVIDIA, the well-known graphic card manufacturer, has developed GauGAN, an AI model that can create highly realistic images from simple doodles.

However, despite all these advancements, the path of AI is not without concerns. Ethics and accountability are major issues. There's a risk of misuse of these technologies to spread disinformation or deepfakes. AI models like GPT-3 don't have common sense or an ethical compass. Hence, people using AI need to use it wisely and ethically.

To manage these issues, OpenAI has committed to making sure that any influence over AGI’s (Artificial General Intelligence) deployment should be used for the benefit of all. They are also putting considerable effort into transparency and cooperation with other research and policy institutions.

The story of AI and Generative AI is an exciting one, filled with immense possibilities. Stakeholders ranging from consumers to developers, regulators, and entrepreneurs are all intertwined in this adventure. It's a story of innovation, and like all tech advancements, it's a double-edged sword. Nevertheless, it pushes the boundary of what machines can do and fosters an environment for endless creativity and possibilities.

As we move ahead, it's up to us to harness the potential of AI responsibly, while working towards nullifying the risks associated. Let's strive to use this transformative technology to uplift and better human experiences. After all, that's what the true spirit of technology is all about, isn't it? Enhancing human lives and pushing the boundaries. That's the exciting journey of AI we are all on.