In the news, GenAI is usually associated with large language models (LLMs) or with image generation tools, essentially, machines that can learn from text or images and generate text or images. But in reality, these models can learn from many different types of data. In particular, they can learn from time series of asset returns, which is perhaps the most relevant for asset managers. In this talk, and in our accompanying book (Generative AI for Trading and Asset Management), we highlight both the practical applications and the fundamental principles of GenAI, with a special focus on how these technologies apply to trading and asset management.