Dear student,
In AC generator mechanical energy is converted to electrical energy by principle of electromagnetic induction.The slip rings in AC generator act as the means of connecting the rotating armature to the external circuit.As the armature naturally produce alternating voltage, the alternating voltage are send to the slip rings.
The DC motor is the device which converts electrical energy to mechanical energy.To get DC voltage, reversing the naturally obtained alternating voltage for every half cycle is necessary.This obtained by split ring commutator which acts as rotating switch.
So in AC generator slip rings are used and in DC generator split rings are used.
Regards.