Many scientists are trying to develop a theory of everything or a supposition to explain all aspects of the physical universe. This paper explores a set of theories called effective and string field theory or EFT and SFT, respectively. These suppositions can be utilized in both old and possibly new physics. Typically, EFT and SFT have a mathematical method for solving problems called the perturbation theory (PT); the generating function technique or GFT can substitute this means of problem-solving. The latter method is used to solve a few examples of physical problems, such as determining the cause of muon g-2 experimental deviations, the means for the calculation of glueballs via meson decay, the ascertainment of tetraquark mass from their decay products, and the analysis of binary black hole mergers. Ultimately, GFT, instead of traditional PT methods, is a potent tool for improving our understanding of concepts in contemporary physics, such as in EFT and SFT. Also, GFT shows the existence of a triality between EFT, SFT, and Quantum Information theory (QIT).