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Multimodal generative AI, exploring its evolution from unimodal systems that process single data types to integrated platforms capable of understanding and generating content across text, images, video, and audio. It details the foundational principles and technical architectures, including the roles of encoders, data fusion techniques, Transformer models, and diffusion models. The document also highlights leading developers like OpenAI and Google DeepMind, discusses transformative applications in fields such as scientific research and creative industries, and addresses critical challenges and risks including bias, privacy, and copyright concerns. Finally, it forecasts the future trajectory towards more agentic and embodied AI systems, emphasizing multimodality as a key step toward Artificial General Intelligence (AGI).