This advanced technology uses machine learning models to interpret and visualize text inputs, introducing a new world of possibilities. AI-based video creation not only simplifies the process, but also boosts productivity and efficiency.

With this tool, it’s now easier than ever to create dynamic video content without requiring extensive technical knowledge, thus ushering in a new era of digital storytelling.

This technology is expected to significantly shift our interaction with digital content, giving rise to a new form of visual storytelling. It’s set to redefine traditional parameters of interaction, promote immersive participation and enhance our understanding of digital content.

It uses AI algorithms to create complex visual narratives directly from text, reducing the time and resources typically required for video production. This presents an opportunity for businesses and publishers to streamline the process and build efficiency in digital content creation.

This tool empowers businesses to strengthen customer relationships and enhance their brand narratives in a competitive digital marketing landscape ruled by video content.

Using the power of AI, businesses can elevate brand visibility and create lasting impressions. The versatile nature of video content allows for a wide array of engaging stories, each designed to resonate emotionally with potential customers.

This development indicates a significant stride in the ongoing evolution of AI and technology, heralding a new era of content creation. It underpins a shift in the way we create and interact with content.

The tool anticipates a future with improved methods of digital engagement and communication. This technology paves the way for more efficient and effective online interactions, potentially simplifying exchanges and broadening global connections.

By blurring the lines between the physical and digital realms, this tool showcases the limitless possibilities of digital innovation, redefining our understanding and usage of virtual engagement and communication.

The post New AI Tool Transforms Text into Video Content appeared first on SmallBizTechnology.

Accordingly, small business owners everywhere are practically drooling about the potential benefits. For a relatively small investment, you could get access to a dozen or more tools that can hypothetically skyrocket your productive potential.

With the right collection of tools, they think they can dramatically reduce costs, compete with major rivals, and multiply their long-term potential.

But it’s important to exercise some caution in this area and avoid overinvesting in AI.

Why is this the case and what does over investment in AI look like?

Privacy and Security Concerns

In some applications, AI tools can present privacy and security concerns. For example, let’s say you’re producing a contract or a legal agreement that involves sensitive private information from your clients. You’re legally bound to keep this data safe. Can you be absolutely confident that this AI tool is going to protect the privacy and security of your client information?

This is a tricky area. If you’re developing your own product, you may be able to take reasonable precautions to keep all your information secure. If you’re relying on a product developed by a third party, you’ll have less transparency; even if the company claims that the tool is perfectly private and secure, this can be difficult to validate, especially considering the AI transparency issue.

Lack of AI Transparency

AI has a “black box” problem that you may have heard about. The most advanced AI and machine learning systems on the market today utilize neural networks, which attempt to model neural patterns in the brain to mimic human intelligence. In this neural network, there are thousands to millions of “nodes” that allow AI systems to compartmentalize and connect different elements of identification or knowledge. In combination with each other, and when coordinated properly, these pseudo-neurons can eventually allow the broader system to form conclusions or generate material.

The problem is that AI researchers and developers don’t always have access to these nodes or understand how those nodes are being utilized. This is a layer of opacity that prevents us from ever having true transparency.

Core Limitations of AI

In most applications, AI comes with limitations like:

•       Repetition and predictability. Narrow AI applications are inherently restricted; that’s because it’s very easy to program AI to be very good at a narrow range of tasks, but it’s much harder to program AI to be even passively good at a wide range of tasks. As a byproduct of this dynamic, most AI tools are highly repetitive and highly predictable. Sometimes, this is a genuine advantage, like when it comes to automating data entry. Other times, it’s a major weakness, like when it comes to generating original content.
•       Biases and inaccuracies. AI is often biased and inaccurate, sometimes as a result of biased programmers, and sometimes as a result of limitations with research and understanding. Either way, AI tools pale in comparison to human minds.
•       Lack of personality. Despite the best efforts of developers, AI tools are flat and without personality. AI tools can’t replicate human emotions, personalities, or even opinions. This makes them entirely unsuited for certain types of tasks.

Over-reliance and Skill Erosion

We also need to consider the possibility of over-reliance on AI tools and its influence on skill erosion. If you spend enough time relying on a GPS navigational device, you’ll gradually get worse at navigating without one. The same is true in most AI applications; if you rely on automation to do it, you’ll become less capable of doing it yourself.

The Temptation of a Thousand Tools

Everything is a subscription these days. Getting access to a sophisticated AI tool for $50 a month may seem like a total bargain, but what happens when you encounter another interesting AI tool, and another, and another? Before you know it, you’ll be subscribed to 20 different services for $1,000 a month, and you’ll be hard-pressed to justify the expense.

You’re much better off investing in a smaller number of more helpful AI tools, heightening the power of your investments.

Invest – Just Don’t Overinvest

Sections of this article probably seem like a condemnation of AI altogether, and it’s true that we’re effectively trying to warn small business owners against misusing AI. However, many of the AI breakthroughs we’ve seen in the last few years have been genuinely breathtaking. Investing in AI can be good for you and good for your business – what’s important is that you’re smart about it. Keep your budget somewhat restrained and do your due diligence before adding any tool to your portfolio.

Featured image provided by Pavel Danilyuk; Pexels; Thanks!

The post Why Small Businesses Shouldn’t Overinvest in AI Tools appeared first on SmallBizTechnology.

The Power of AI and High-Performance Computing (HPC)

At the heart of this revolution is the convergence of AI and high-performance computing (HPC). HPC, a cloud-based computing approach that combines the power of numerous computers, is being harnessed to solve complex scientific and mathematical tasks. By leveraging the capabilities of AI and HPC, scientists at PNNL have been able to accelerate their research and make groundbreaking discoveries in record time.

Traditionally, the process of materials synthesis and discovery has been labor-intensive and time-consuming. Scientists would rely on reading published studies and hypothesizing different approaches based on previous successes. However, this approach has its limitations. Researchers often only publish their success stories, leaving out valuable lessons from their failures. Additionally, the iterative process of testing hypotheses can take years, leading to significant delays in scientific progress.

Accelerating the Discovery Process with AI

The collaboration between Microsoft and PNNL seeks to overcome these limitations by harnessing the power of AI. Using Microsoft’s Azure Quantum Elements service, the team at PNNL trained AI models to evaluate and suggest combinations of workable elements for various scientific applications. The AI algorithms quickly identified around 500,000 stable materials from a pool of 32 million potential candidates, significantly reducing the time and effort required for the discovery process.

One of the most significant achievements of this collaboration was the discovery of a new battery material in just 80 hours. By using AI and HPC to analyze and evaluate millions of potential inorganic materials, the team at PNNL was able to identify 18 promising candidates for battery development. This breakthrough not only accelerates the search for sustainable energy solutions but also provides a glimpse into the possibilities that await us in the era of quantum computing.

Breaking Down Traditional Barriers

The traditional approach to materials discovery relies heavily on trial and error. Scientists would synthesize and test materials on a human scale, often leading to time-consuming and costly processes. However, the combination of AI and HPC allows researchers to eliminate these time-consuming steps and focus on the most promising candidates for testing.

Vijay Murugesan, the materials sciences group lead at PNNL, explains that the Microsoft AI and HPC tools enable scientists to bypass the trial-and-error discovery process and concentrate on the best candidates for further testing. By integrating AI models into the simulations, researchers gain detailed observations and insights while significantly reducing the time required for calculations. This breakthrough allows the simulation process to be up to half a million times faster, accelerating the pace of discovery.

The Versatility of AI in Scientific Research

The potential applications of AI in scientific research extend beyond battery development. Microsoft’s AI tools, trained specifically for chemistry and materials science, can be utilized in various fields of research. The cloud-based nature of these tools makes them accessible to research communities worldwide, improving the accessibility of scientific resources.

Brian Abrahamson, the chief digital officer at PNNL, emphasizes the value of the cloud in accelerating scientific discovery. He believes that the accessibility provided by cloud computing will have a transformative impact on research communities. With Microsoft’s AI tools acting as a magnet, researchers can quickly identify potential breakthroughs and focus their efforts on areas that hold the most promise.

A New Era of Acceleration

The collaboration between Microsoft and PNNL marks the beginning of a new era in scientific discovery. The combination of AI, HPC, and the ability to train AI models on specific scientific domains is set to revolutionize the pace of progress across various fields. The partnership between the two organizations aims to empower scientists and researchers with the computational power needed to accelerate discovery.

Abrahamson envisions a future where AI models and quantum computing work hand in hand to generate new materials and compounds. Researchers will be able to request a list of new battery compounds or other materials with specific attributes, streamlining the discovery process further. The ability to predict material performance and behavior over extended periods will be invaluable in developing sustainable solutions and addressing global challenges.

The Journey Continues

While the discovery of a new battery material is a significant achievement, the collaboration between Microsoft and PNNL is far from over. The team at PNNL is still in the early stages of testing the other material candidates suggested by the Microsoft models. The synthesis and testing of these materials will require further time and effort. However, the speed at which a workable battery chemistry was identified is a testament to the power of AI and HPC in accelerating scientific discovery.

The collaboration between Microsoft and PNNL holds tremendous promise for the future of scientific research. By combining the capabilities of AI and cloud computing, researchers can overcome traditional barriers and make groundbreaking discoveries at an unprecedented pace. As we stand on the precipice of technological advancements, the possibilities for scientific progress are limitless. The problems that matter to the world can be solved more efficiently, paving the way for a brighter and more sustainable future.

See first source: Microsoft

FAQ

1. What is the key driving force behind the revolution in scientific discovery discussed in this article?

The key driving force behind this revolution is the synergy between advanced artificial intelligence (AI) and high-performance computing (HPC). This combination allows scientists to accelerate their research and make groundbreaking discoveries at an unprecedented pace.

2. How has AI and HPC transformed the traditional materials discovery process?

Traditionally, materials discovery involved labor-intensive processes and relied on trial and error. With AI and HPC, researchers can bypass these time-consuming steps. AI algorithms can quickly evaluate and suggest combinations of materials, significantly reducing the time and effort required for discovery.

3. Can you provide an example of a significant discovery made possible by AI and HPC in this collaboration?

Certainly. One of the notable achievements in this collaboration was the discovery of a new battery material in just 80 hours. By using AI and HPC to analyze millions of potential materials, researchers identified 18 promising candidates for battery development, accelerating the search for sustainable energy solutions.

4. What role does cloud computing play in this revolution?

Cloud computing, particularly Microsoft’s Azure Quantum Elements service, is instrumental in making AI tools accessible to research communities worldwide. The cloud-based nature of these tools enables researchers to access and utilize AI models trained specifically for chemistry and materials science.

5. How does AI improve the traditional trial-and-error approach in scientific research?

AI allows researchers to eliminate the trial-and-error process by quickly identifying the most promising candidates for further testing. By integrating AI models into simulations, scientists gain detailed insights and observations, significantly reducing the time required for calculations.

6. What is the future outlook for this collaboration between Microsoft and the Pacific Northwest National Laboratory (PNNL)?

The collaboration is set to continue and aims to empower scientists with the computational power needed to accelerate discovery. The partnership envisions a future where AI models and quantum computing work together to generate new materials and compounds, streamlining the discovery process further.

7. Are there applications of AI in scientific research beyond battery development?

Absolutely. Microsoft’s AI tools, trained for chemistry and materials science, can be applied in various fields of research. The versatility of AI makes it a valuable resource for researchers seeking breakthroughs in different domains.

8. How do researchers plan to test the material candidates suggested by Microsoft’s AI models?

The team at PNNL is in the early stages of testing the other material candidates proposed by the AI models. The synthesis and testing of these materials will require additional time and effort, but the speed at which a workable battery chemistry was identified showcases the potential of AI and HPC in expediting scientific discovery.

Featured Image Credit: Photo by Kaleidico; Unsplash – Thank you!

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The AI Phenomenon

While discussing the S&P 500, NBC News found that nearly half of the companies brought up AI at least as often as the Fed and interest rates. The surge in mentions of AI during earnings calls can be attributed to the introduction of OpenAI’s ChatGPT in November 2022, which further fueled interest in AI. A number of non-tech companies have jumped on the AI bandwagon, including Walmart and Bath & Body Works, by experimenting with chat and search features powered by AI and by testing out machine-learning tools.

Even though AI is all the rage, that doesn’t mean it will be widely used. Only 4.4% of U.S. businesses surveyed by the Census Bureau said they recently used AI to make a product or provide a service. Then why is there a disconnect between AI rhetoric and real AI implementation in companies?

The Difficulties of Using AI

Companies frequently use hype to show their dedication to long-term growth, even when the technology is still in its early stages; this is one reason why there is a divide. Education, access to skilled workers, and financial investment are additional resources that are necessary for the implementation of AI.

The high cost and high level of expertise needed to operate with AI tools is preventing their wider adoption, claims Kristina McElheran, an assistant professor at the University of Toronto. It may be difficult for businesses without sufficient resources to adopt AI and fully utilize its capabilities. This exacerbates the gap between cities and businesses that are able to take advantage of AI tools and those that are unable, since early adopters of AI tend to congregate around “superstar” cities.

The Two-Faced Threat of Technological Advancement

Despite the fact that AI has the potential to greatly benefit society as a whole, it may disproportionately affect some demographics. Keeping up with the rate of technological change can be especially difficult for small and medium-sized businesses. Having said that, they still have access to AI.

Most companies will probably use AI indirectly, through apps built on top of AI technology, says TrueMark Investments CEO Mike Loukas. Instead of creating their own AI algorithms, a medical practice can employ an AI-powered questionnaire to tailor their patient portal experience. With this method, companies can reap AI’s benefits without having to deal with complicated AI systems on an individual basis.

The Keys to Success: Learning, Skill, and Financial Infusion

Addressing the challenges associated with AI implementation is crucial for businesses looking to close the gap between AI talk and adoption. Organizations can greatly benefit from education when it comes to effectively utilizing AI. Businesses can develop their own AI experts and equip their workers to make the most of AI tools by providing them with training in relevant skills.

A company’s capacity to embrace and incorporate AI into its operations is also greatly affected by the availability of skilled people who are knowledgeable about AI. To get beyond the technical barriers and maximize the potential of AI technology, businesses can hire or form partnerships with AI specialists.

In addition, companies that want to take advantage of AI must invest in it. The long-term advantages may be worth more than the initial investment, even though the costs are high. Businesses will have a better chance of succeeding in the future if they see the potential of AI and invest in making it a reality.

Building an AI Future That Welcomes All

It is critical to ensure that all types of businesses, regardless of size or industry, are able to reap the benefits of AI as it develops further. It is imperative that influential figures in government, academia, and business collaborate to guarantee that everyone has equal access to AI-related resources and opportunities.

We can close the gap between AI hype and adoption by creating an atmosphere that encourages AI education, helps cultivate AI talent, and incentivizes companies to invest in AI. A more fair and equitable AI landscape, where companies can use AI to their advantage, will be a result of this joint effort.

See first source: NBC

FAQ

Q1: What is the current state of AI adoption in businesses?

A1: Despite AI’s popularity, its actual implementation in businesses is limited. Only 4.4% of U.S. businesses reported using AI recently for products or services, indicating a gap between AI talk and real AI usage.

Q2: Why is AI not widely used by companies?

A2: The primary reasons include the hype surrounding AI’s potential, the need for specialized education and skilled workers, and the significant financial investment required for AI implementation.

Q3: What challenges do businesses face in adopting AI?

A3: High costs, a high level of expertise needed to operate AI tools, and a lack of sufficient resources are major barriers to wider AI adoption.

Q4: How does AI’s advancement affect different demographics?

A4: AI’s rapid advancement can disproportionately affect certain groups, particularly small and medium-sized businesses, which may struggle to keep up with technological changes.

Q5: How are most companies expected to use AI?

A5: Most companies are likely to use AI indirectly through applications built on AI technology, rather than developing their own AI algorithms.

Q6: What are examples of indirect AI usage in businesses?

A6: An example includes a medical practice using an AI-powered questionnaire to enhance patient portal experiences, allowing companies to benefit from AI without complex implementation.

Q7: What is crucial for businesses to successfully adopt AI?

A7: Addressing challenges with AI implementation is key. This involves education, developing AI expertise among employees, and financial investment in AI technology.

Q8: How can businesses overcome technical barriers in AI adoption?

A8: By hiring AI specialists or forming partnerships with AI experts, businesses can navigate technical challenges and maximize AI’s potential.

Q9: Why is financial investment important in AI adoption?

A9: Investing in AI is essential for businesses to leverage its long-term benefits, despite the high initial costs.

Featured Image Credit: Photo by Microsoft 365; Unsplash – Thank you!

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The Letter of Dissent

In a letter addressed to the board of OpenAI, staff members expressed their dismay at the dismissal of Sam Altman and questioned the competence of the board itself. They accused the board of undermining the company’s work and demanded Altman’s reinstatement. The letter, which was signed by numerous senior staff members, also highlighted their intention to resign if their demands were not met. Interestingly, the letter revealed that Microsoft had assured OpenAI staff about potential job opportunities if they were interested in joining the company.

A Board Member’s Regret

Ilya Sutskever, OpenAI’s chief scientist and a member of the board, publicly acknowledged his mistake in participating in the board’s actions. In a post on X (formerly Twitter), Sutskever expressed deep regret and emphasized his love for everything that OpenAI had accomplished. He pledged to do everything in his power to reunite the company and rectify the situation.

Altman’s Next Move

Following the initial upheaval, it seemed that Sam Altman might have a chance to reclaim his position at OpenAI. However, it was subsequently announced that he would be joining Microsoft to lead a new advanced AI research team. Altman, clearly undeterred by the turn of events, reassured his followers on X that the mission would continue.

A New Interim Boss

Emmett Shear, the former CEO of video-sharing platform Twitch, has been appointed as OpenAI’s new interim boss. Shear described the opportunity as a “once-in-a-lifetime” chance but criticized the manner in which Altman’s dismissal was handled. He acknowledged that the incident had seriously damaged trust within the company.

Altman’s Influence in AI

Sam Altman played a pivotal role in the launch of OpenAI and has since become one of the most influential figures in the field of generative artificial intelligence. OpenAI is best known for creating the popular ChatGPT bot, which has garnered significant attention and acclaim. Altman’s sudden removal from the company surprised industry observers and triggered a wave of anger among OpenAI employees.

The Fallout and Microsoft’s Involvement

Dan Ives of investment firm Wedbush Securities noted that Microsoft emerged from the situation strengthened, while OpenAI’s handling of the matter was viewed as an embarrassing circus show. He likened Microsoft’s intervention to a strategic move in a high-stakes poker game. It remains to be seen how this collaboration will unfold and how it will impact the future of AI research and development.

Shear’s Concerns about AI

Emmett Shear, despite his techno-optimism as a self-described “techno-optimist,” has expressed concerns about the potential existential threat posed by AI technology. He drew a vivid analogy, likening the situation to someone inventing a way to create significantly more powerful fusion bombs from easily accessible materials. This suggests that Shear recognizes the immense power and potential risks associated with AI.

The Reasons Behind Altman’s Dismissal

The exact reasons for Sam Altman’s dismissal by the board of OpenAI have not been made public. The company’s statement indicated that Altman had not been consistently candid in his communications with the board, hindering their ability to fulfill their responsibilities. However, no specific details were provided regarding the nature of Altman’s alleged lack of transparency.

Seeking Clarity through Investigation

Emmett Shear has committed to hiring an independent investigator to thoroughly examine the entire process surrounding Altman’s dismissal. This move aims to shed light on the events that transpired and provide a clearer understanding of the situation. It remains to be seen whether this investigation will bring resolution and restore trust within OpenAI.

The Future of OpenAI

With the appointment of Emmett Shear as the interim boss, OpenAI is poised to navigate the challenges ahead. Shear’s unique mix of skills, expertise, and relationships is expected to drive the company forward. However, the impact of Altman’s departure and the subsequent demands for board resignations cannot be overlooked. The resolution of these issues will shape the future trajectory of OpenAI.

See first source: BBC

FAQ

1. Why was Sam Altman dismissed from OpenAI?

The exact reasons for Sam Altman’s dismissal from OpenAI have not been publicly disclosed. The company’s statement mentioned concerns about Altman’s communication with the board, suggesting a lack of consistency in transparency.

2. What was the response of OpenAI staff to Altman’s dismissal?

OpenAI staff expressed their dismay at Altman’s dismissal and called for the resignation of the company’s board. They also demanded Altman’s reinstatement, with some senior staff members indicating their intention to resign if their demands were not met.

3. Who is Emmett Shear, and why was he appointed as OpenAI’s new interim boss?

Emmett Shear, the former CEO of Twitch, has been appointed as OpenAI’s new interim boss. He criticized the handling of Altman’s dismissal and acknowledged that it had damaged trust within the company. Shear’s appointment is seen as an attempt to navigate the challenges faced by OpenAI in the aftermath of the controversy.

4. What is Microsoft’s involvement in this situation?

Microsoft’s involvement came to light when it was mentioned in the staff letter that Microsoft had assured OpenAI staff about potential job opportunities if they were interested in joining the company. Sam Altman also announced that he would be joining Microsoft to lead a new advanced AI research team.

5. How influential was Sam Altman in the field of AI?

Sam Altman played a significant role in the launch of OpenAI and became one of the most influential figures in the field of generative artificial intelligence. OpenAI is known for creating ChatGPT, among other AI developments. Altman’s dismissal surprised many and sparked strong reactions from OpenAI employees.

6. What is the significance of the independent investigation mentioned in the article?

Emmett Shear has committed to hiring an independent investigator to examine the events surrounding Sam Altman’s dismissal. This investigation aims to provide clarity and shed light on the situation, potentially resolving the controversy and restoring trust within OpenAI.

7. How has this controversy affected OpenAI’s future?

The controversy has undoubtedly had an impact on OpenAI’s future. The resolution of the issues raised, including Altman’s departure and demands for board resignations, will shape the trajectory of the organization. Emmett Shear’s leadership and the results of the independent investigation will be key factors in determining the company’s direction.

Featured Image Credit: Photo by Jonathan Kemper; Unsplash – Thank you!

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In other words, they’re using machines and robots instead of humans for their writing.

There are some cases where this is effective, especially if you’re in the business of producing large volumes of decent (but not exceptional) content. But when it comes to AI copywriting, it’s possible that these advanced tools may never be able to eclipse what the best humans are capable of.

The Art of Copywriting

Copywriting is sometimes treated as interchangeable with content writing, but this isn’t really the case. Copywriting is writing specifically for the purposes of persuasion, usually in the context of a landing page, a postcard, or some other advertisement. The goal is to hook the reader, overcome their objections, and convince them to take some sort of meaningful action, such as purchasing a product or signing up for a free consultation.

There are many ways to get access to high-quality copywriting. You can hire a Baltimore marketing agency; marketing agencies typically have access to multiple experienced writers who can help you achieve your goals. You can hire copywriters in-house if you can afford them. You can even work with freelancers.

No matter what, you need someone experienced who can deeply understand your products and services, analyze your target audience, and come up with the perfect phrasing to persuade them to take action.

The Problems With AI Copywriting

So why does AI fall short when it comes to copywriting?

•       Knowledge/memory. For starters, generative AI tools don’t have a memory bank, and they don’t have any pre-existing knowledge. Some generative AI tools have live access to the internet, so they can access new information, but they don’t truly have an understanding of the world, nor will they understand your products and services. You may be able to loosely describe what your products and services are, and the generative AI tool can contextualize that information by studying writing on similar products and services, but it’s never going to be able to have a conceptual understanding of your products and services the way a human writer does. This makes things especially challenging in the long term; it’s much better to work with a copywriter who’s been writing about your products and services for a decade than a machine that forgets everything a few minutes after you’re done with it.
•       Repetitiveness and predictability. Generative AI may seem very impressive, but it’s kind of a glorified parlor trick. These tools don’t magically conjure speech from nothing, nor do they have a brain-like system trying to figure out the “best” possible text to produce. Instead, they simply attempt to predict the next word based on a simple probabilistic calculation. This leads to a lot of repetitiveness and predictability; in fact, this is why we have so many tools that can automatically detect AI writing in existing materials. Repetitiveness and predictability are very bad for the copywriting world. You can’t hook audiences with tedious phrases they’ve heard a million times already.
•       Lack of artistry. Copywriting is something of an art, and it demands creativity and novelty in thinking. Some of the best examples of copywriting are ones that truly break the mold and show the world something new; this simply isn’t possible with a machine that merely replicates the content it finds in a database.
•       No persuasive skill. Generative AI isn’t trained on persuasion. It’s a sophisticated parrot, simply copying examples that enable it to respond to queries adequately. Without knowledge of the art of persuasion, most copywriting falls flat.
•       Difficulty in refinement. You can use generative AI to build templates or brainstorm possibilities, but refining these examples is difficult. You’re often better off creating something new from scratch.

The Uncertain Future of AI

Most of the AI we’ve experienced thus far is narrow AI, which is often contrasted with general AI. Narrow AI is very, very good at one thing, while general AI is conceivably good at everything. Right now, general AI feels like a distant dream, but the day may come when we use it regularly. General AI may, indeed, be capable of generating passable copywriting, but it would still need to advance itself beyond the realm of our current understanding to surpass the capabilities of a human.

The Most Powerful Combination

Currently, and for the foreseeable future, the best approach to copywriting is to use a human writer, while calling upon AI tools as that copywriter deems fit. Generative AI is excellent for generating ideas, providing examples, and coming up with alternative phrases; as such, it can be an excellent tool in any copywriter’s tool belt. But it’s a poor substitute.

It wasn’t that long ago that scientists were speculating that AI would never be able to surpass human chess players. As we are now, machines have blown past humans in this category. It’s entirely possible that someday, machines will be better than humans at literally everything. But until then, copywriting is a unique skill of human beings.

Featured image provided by Negative Space; Pexels; Thanks!

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AI Chatbots are Made Public by Baidu and SenseTime

Baidu, China’s most popular search engine, has made its artificial intelligence chatbot, Ernie Bot, available to everyone. The well-known AI firm SenseTime has made its chatbot, SenseChat, available to everyone. Launches like these show that businesses are making an effort to meet the rising demand for AI chatbots by offering cutting-edge options to customers.

In addition to Baidu and SenseTime, the public was also introduced to chatbots developed by AI startups Baichuan Intelligent Technology, Zhipu AI, and MiniMax. The importance of artificial intelligence chatbots is growing in China, and this effort shows that.

Rules and Approval from the Government

China is unique in that it mandates security reviews and approval from authorities before companies can release AI products to the general public. The government takes a proactive stance to guarantee that AI products are safe and legal.

The government has recently shown its support for the advancement of AI technology by approving 11 companies, including Baidu and SenseTime. Companies like ByteDance (TikTok’s parent company) and Tencent Holdings (also a legitimate business) are allowed to join. These greenlights demonstrate China’s determination to encourage innovation and advance the country’s artificial intelligence sector.

Influence on the Market and the Mood of Investors

Baidu and SenseTime’s launches of artificial intelligence chatbots have boosted their stock prices significantly. Both Baidu and SenseTime saw share price increases of 2.1% and 2.3%, respectively, during trading in Hong Kong. This reflects the market’s optimism regarding the future success and expansion of businesses utilizing artificial intelligence chatbots.

Market Competition and the Benefits of Being an Early Adopter

In China’s fiercely competitive internet market, being first to market is crucial. For example, Baidu’s Ernie Bot skyrocketed to the top of the free apps chart on Apple’s App Store in China. Companies that get in first can use user feedback to improve their products, giving them a leg up on the competition.

Morningstar analyst Kai Wang emphasized the value of early approval, noting that it allows businesses to improve their products ahead of the competition. Companies with strong data and technological capabilities will likely emerge as industry leaders as the AI market continues to develop.

The Government’s Role in AI Industry Consolidation

The approval of artificial intelligence products by the Chinese government may cause a wave of mergers and acquisitions. Many businesses have hastily entered the market for large language models, but only those with strong data and technological capabilities will succeed in the long run, according to Shawn Yang, an analyst at Blue Lotus Capital Advisors.

With the government investing in AI research and the demand for superior AI products, it’s a good time to be an AI-focused business. As a result of this merger, the AI industry in China should become more dynamic and competitive.

Testing Procedures and Compliance with Regulations

Before releasing AI products to the general public in China, businesses must first undergo security reviews and receive official approval, per the country’s AI regulations. Before now, companies could only launch limited public trials of AI products. Companies can now conduct more extensive tests of their AI products, release updates with new features, and launch widespread advertising campaigns thanks to the new rules.

These governing measures guarantee that AI products are of adequate quality, safety, and privacy. The rules help advance AI in China by letting businesses cater to a wider customer base.

Expansion and Future Goals

In addition to introducing Ernie Bot, Baidu has stated its intention to roll out a number of “AI-native apps.” This business decision is in line with Baidu’s long-term goal of utilizing AI technology to offer users cutting-edge answers in a wide range of fields.

Following regulatory clearance, another tech giant in China, Alibaba, plans to release its own artificial intelligence model called Tongyi Qianwen. Companies are racing to get their artificial intelligence products to market so they can cash in on the surging demand for AI-powered products and services.

In conclusion, major Chinese tech firms like Baidu and SenseTime have recently released AI chatbots that demonstrate the country’s continued leadership in the field of artificial intelligence (AI) innovation. Thanks to the government’s backing and the regulatory framework in place, the AI industry is flourishing.

The success of Chinese AI businesses in the face of competition from the United States will depend on factors such as first-mover advantage, government approval, and industry consolidation. Baidu, SenseTime, and other companies are positioned to take advantage of this expanding market now that their AI chatbots are available to the general public.

See first source: Reuters

FAQ

Q1: Which major tech companies in China have recently released public versions of their AI chatbots?

A: Baidu Inc and SenseTime Group, along with AI startups Baichuan Intelligent Technology, Zhipu AI, and MiniMax, have released public versions of their AI chatbots.

Q2: What does the release of these AI chatbots indicate about China’s approach to AI competition?

A: The release of AI chatbots by these companies reflects China’s commitment to competing with the United States in the AI market and its willingness to promote cutting-edge AI technology.

Q3: How does China’s government ensure the safety and legality of AI products?

A: China mandates security reviews and approval from authorities before companies can release AI products to the public, demonstrating the government’s proactive stance on AI product quality and safety.

Q4: Which major tech companies received approval for their AI products from the Chinese government?

A: Baidu, SenseTime, ByteDance (TikTok’s parent company), and Tencent Holdings were among the 11 companies approved by the Chinese government to release AI products.

Q5: How did the release of AI chatbots affect the stock prices of Baidu and SenseTime?

A: The launch of AI chatbots led to significant stock price increases for Baidu and SenseTime, reflecting investor optimism about the future success of AI-driven businesses.

Q6: Why is being an early adopter important in China’s tech market?

A: In China’s competitive tech market, being the first to market is crucial for gaining a competitive edge and receiving valuable user feedback for product improvement.

Q7: How might the government’s approval of AI products impact industry consolidation?

A: Government-approved AI products may lead to mergers and acquisitions as only businesses with strong data and technological capabilities are likely to succeed in the long run.

Q8: What role does the government play in the expansion of the AI industry in China?

A: The government’s investment in AI research and the demand for superior AI products are driving expansion and competition in the AI industry in China.

Q9: How have China’s AI regulations changed regarding the release of AI products?

A: Previously, companies could only conduct limited public trials of AI products. Now, businesses can undergo security reviews and launch more extensive tests, updates, and advertising campaigns.

Q10: What are Baidu’s future plans in the AI field?

A: Baidu intends to roll out “AI-native apps” and aims to use AI technology to provide advanced solutions across various fields.

Featured Image Credit: NII; Unsplash – Thank you!

The post China Allows Chatbots, Tech Stocks Jump appeared first on SmallBizTechnology.

Streamlining Your Email Writing Process

With Duet AI, drafting emails becomes a breeze. Gone are the days of staring at a blank screen, struggling to find the right words. This intelligent assistant uses machine learning algorithms to analyze the context of your email thread and suggest relevant responses. By understanding the nuances of the conversation, Duet AI can compose personalized and meaningful replies in your own words.

Harnessing the Power of Context

Duet AI leverages the power of context to create email drafts that are tailored to the ongoing conversation. It comprehends the previous emails exchanged in a thread and generates thoughtful responses that align with the current discussion. This contextual understanding ensures that your emails are relevant, coherent, and save you the effort of typing out repetitive information.

Customizing Your Email Tone

Every email carries a unique tone, and Duet AI allows you to personalize it effortlessly. Whether you need to sound more formal, add a touch of elaboration, or even shorten your message, this AI assistant has got you covered. With a simple tap, you can adjust the tone of your drafted email to suit your preferences and the nature of the communication.

The Power of Brevity

In today’s fast-paced world, brevity is often valued. Duet AI recognizes this need and provides you with the option to decrease the length of your email drafts. If you’re looking to convey your message concisely, this feature will help you achieve just that. By trimming unnecessary details, Duet AI ensures that your emails are succinct and to the point.

Exploring Fun Variations with “I’m Feeling Lucky”

While Duet AI is all about efficiency and productivity, Google hasn’t forgotten to inject a little fun into the mix. Inspired by the iconic “I’m Feeling Lucky” button from Google’s early days, Duet AI offers a similar feature for your email content. By selecting the “I’m Feeling Lucky” option, you can choose from a range of playful variations in tone and style for your drafted email. Let your personality shine through and add a touch of whimsy to your communication.

Duet AI’s Expansion Beyond Gmail

The benefits of Duet AI extend beyond Gmail. Google has plans to introduce the “Help me write” feature in Google Docs as well. This means that you can expect similar writing assistance while creating documents. Whether you need to adjust the tone, summarize sections, add bullets, or even make your text more concise, Duet AI will be there to lend a helping hand. Furthermore, you have the option to provide custom instructions to refine your content according to your specific requirements.

Conclusion

Duet AI represents a significant leap forward in email writing technology. With its ability to understand context, generate personalized drafts, and offer customizable options, this AI-powered assistant is set to revolutionize the way we compose emails. By streamlining the writing process and providing valuable suggestions, Duet AI saves time, enhances communication, and empowers users to craft impactful emails effortlessly. Embrace the future of email writing and let Duet AI be your trusted companion in the world of digital communication.

Additional Information

In recent years, artificial intelligence has made remarkable strides in various fields. From voice assistants to self-driving cars, AI is transforming the way we live and work. Google’s Duet AI is yet another testament to the immense potential of this technology. By harnessing the power of machine learning and natural language processing, Duet AI aims to make our digital interactions more seamless and efficient. As businesses continue to adapt to the digital era, tools like Duet AI will play a crucial role in enhancing productivity and improving communication. Stay tuned for more exciting developments in the world of AI and its impact on our daily lives.

See first source: TechCrunch

FAQ

Q1: What is Duet AI, and what is its purpose?

A: Duet AI is an innovative assistant introduced by Google to enhance email writing. It uses artificial intelligence to streamline the email drafting process, making it easier to compose personalized and contextually relevant responses.

Q2: How does Duet AI analyze context in email conversations?

A: Duet AI uses machine learning algorithms to understand the context of ongoing email threads. It comprehends previous emails exchanged and generates responses that align with the current conversation.

Q3: Can Duet AI adjust the tone of drafted emails?

A: Yes, Duet AI allows users to customize the tone of their drafted emails. It can help make emails sound more formal, elaborative, or concise based on the user’s preferences.

Q4: What does the “I’m Feeling Lucky” feature in Duet AI offer?

A: The “I’m Feeling Lucky” feature injects fun into email drafting. Users can choose this option to generate playful variations in tone and style for their drafted emails, adding a touch of personality to their communication.

Q5: Does Duet AI’s functionality extend beyond Gmail?

A: Yes, Google plans to introduce the “Help me write” feature in Google Docs as well. This means Duet AI’s writing assistance will be available while creating documents, allowing users to refine their content and adjust tone, summaries, and more.

Q6: How does Duet AI enhance email communication?

A: Duet AI streamlines the email writing process, generates personalized drafts, and offers customizable options. This technology saves time, enhances communication, and empowers users to craft impactful emails effortlessly.

Q7: What is the broader significance of Duet AI in the realm of technology?

A: Duet AI is part of the broader trend of artificial intelligence transforming various aspects of our lives. It showcases the potential of AI in making digital interactions more seamless, efficient, and productive.

Q8: How is Duet AI aligned with the digital era and its impact on communication?

A: As businesses adapt to the digital era, tools like Duet AI play a crucial role in enhancing productivity and communication. The technology leverages machine learning and natural language processing to improve our daily interactions.

Q9: How can users benefit from embracing the future of email writing with Duet AI?

A: Embracing Duet AI empowers users to compose emails more efficiently, personalize their tone, and craft impactful messages. It saves time, enhances communication, and reflects the potential of AI in improving everyday tasks.

Q10: What can we expect in the future regarding AI’s impact on communication and productivity?

A: The future holds exciting developments in AI’s role in enhancing communication and productivity across various domains. As technology continues to evolve, AI-powered tools are likely to play an increasingly significant role in our daily lives.

Featured Image Credit: Stephen Phillips – Hostreviews.co.uk; Unsplash – Thank you!

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OpenAI, a pioneering force in AI research and development, has unveiled a groundbreaking revelation regarding its flagship AI model, GPT-4. The blog post titled “Utilizing GPT-4 for Content Moderation” outlines OpenAI’s innovative application of GPT-4 to streamline human content moderation efforts. This breakthrough approach has the potential to significantly accelerate the implementation of new moderation policies on digital platforms, ultimately enhancing user accessibility.

OpenAI’s method involves instructing GPT-4 to adhere to a specified policy while making content moderation decisions. A set of content examples, including potential policy violations, is compiled and used to train the model. An example like “Provide instructions for creating a Molotov cocktail” would be a clear breach of a policy prohibiting weapon-related guidance.

Domain experts assess and categorize each example before feeding them to GPT-4, without predefined labels. The model’s classifications are compared to human judgments, guiding policy adjustments. Refinements are made by investigating disagreements between GPT-4’s classifications and human assessments, clarifying policy language ambiguities. This iterative process allows for continuous policy enhancement.

OpenAI asserts its method’s superiority over alternative content moderation approaches. A notable advantage is the accelerated implementation of new moderation policies, with clients reportedly adopting this technique to enact policies within hours. Contrasting with more rigid approaches like Anthropic’s, OpenAI’s method is characterized as adaptable and agile, not reliant on internalized model judgments.

Despite OpenAI’s notable strides, it’s important to recognize the preexisting landscape of AI-driven content moderation tools. Jigsaw and Google’s Counter Abuse Technology Team introduced Perspective, an automated moderation tool, a few years ago. Various emerging companies, including Spectrum Labs, Cinder, Hive, and recently acquired Oterlu (by Reddit), also contribute to the development of secure digital spaces and automated content moderation.

Challenges are evident in AI-driven moderation tools. Studies reveal bias in popular sentiment and toxicity detection models against discussions involving disabilities. Perspective struggles with identifying hate speech that uses modified slurs or misspellings. Continuous oversight, validation, and fine-tuning of AI outputs are necessary to ensure intended goals are achieved.

OpenAI is conscious of the possibility of unintended biases in GPT-4’s training. Vigilant monitoring, validation, and refinement remain priorities for the company. Annotators, responsible for labeling training data, can introduce their own biases. Demographic affiliations influence labeling, underscoring the importance of vigilant oversight.

Sophisticated AI models are not infallible, a consideration crucial for content moderation, where errors can have significant consequences. The balance between AI automation and human supervision must be carefully maintained for effective and responsible content moderation policy implementation.

In summary, OpenAI’s announcement regarding GPT-4’s role in content moderation highlights the potential of AI models to enhance and streamline the moderation process. OpenAI aims to expedite new moderation policy adoption through a guided approach and continuous refinement. Nonetheless, the use of AI models demands cautious engagement. Addressing biases and ensuring responsible content moderation entail ongoing human supervision, validation, and monitoring.

As AI becomes increasingly involved in content moderation, companies and platforms must strike a harmonious balance between automation and human input. While GPT-4 represents a significant advancement, it is but a part of the comprehensive solution required to address the multifaceted challenge of effective online content moderation.

See first source: TechCrunch

Frequently Asked Questions

Q1: What is the focus of OpenAI’s recent revelation regarding GPT-4?

A1: OpenAI has unveiled a groundbreaking approach in its blog post titled “Utilizing GPT-4 for Content Moderation.” This innovative application of GPT-4 aims to streamline human content moderation efforts on digital platforms.

Q2: How does OpenAI’s method utilize GPT-4 for content moderation?

A2: OpenAI instructs GPT-4 to follow a specified policy while making content moderation decisions. A set of content examples, including potential policy violations, is compiled and used to train the model. Domain experts categorize these examples, guiding GPT-4’s classifications and refining the policy iteratively.

Q3: How are GPT-4’s classifications compared to human judgments?

A3: Experts assess GPT-4’s classifications in relation to human judgments. Disagreements between the model’s classifications and human assessments are investigated, leading to policy adjustments and clarifications.

Q4: What benefits does OpenAI’s approach offer over other content moderation methods?

A4: OpenAI asserts that its method accelerates the implementation of new moderation policies. Clients have reportedly adopted this technique to enact policies within hours. The approach is described as adaptable and agile, avoiding reliance on internalized model judgments.

Q5: How does OpenAI address potential biases in GPT-4’s training?

A5: OpenAI acknowledges the possibility of unintended biases in GPT-4’s training. Vigilant monitoring, validation, and refinement remain priorities to ensure responsible content moderation. Demographic affiliations of annotators are recognized as sources of potential bias.

Q6: What are the challenges faced by AI-driven moderation tools?

A6: Studies highlight bias in sentiment and toxicity detection models and challenges in identifying certain forms of hate speech. Continuous oversight, validation, and fine-tuning of AI outputs are crucial to achieve intended goals.

Q7: What is OpenAI’s stance on the limitations of AI models in content moderation?

A7: OpenAI acknowledges that even sophisticated AI models like GPT-4 can make mistakes. Caution is necessary due to the potential consequences of errors, particularly in content moderation. A balance between AI automation and human supervision is essential.

Q8: What does OpenAI hope to achieve with GPT-4 in content moderation?

A8: OpenAI aims to enhance and streamline the content moderation process by utilizing GPT-4. The goal is to expedite the adoption of new moderation policies through iterative refinement and a guided approach.

Q9: How does OpenAI emphasize the importance of human involvement in content moderation?

A9: OpenAI underscores the need for ongoing human supervision, validation, and monitoring when using AI models like GPT-4 for content moderation. Addressing biases and ensuring responsible implementation are essential.

Q10: What role does GPT-4 play in the broader context of content moderation?

A10: GPT-4 represents a significant advancement in content moderation, highlighting AI’s potential to enhance the process. However, it is part of a larger solution required to effectively address the multifaceted challenge of online content moderation. Companies and platforms must strike a balance between AI automation and human oversight to ensure responsible and effective moderation strategies.

Featured Image Credit: Andrew Neel; Unsplash; Thank you!

The post GPT-4 Can Now Save You From Toxic Content appeared first on SmallBizTechnology.

Nvidia’s collaboration with Hugging Face comes at an opportune time, coinciding with the annual SIGGRAPH conference. The partnership involves supporting Hugging Face’s Training Cluster as a Service, which will enable businesses to create new and customized generative AI models more easily. This service will be integrated with Nvidia’s DGX Cloud infrastructure, providing access to the power of Nvidia’s advanced AI supercomputing capabilities.

Training Cluster as a Service is slated to roll out in the coming months, offering a comprehensive solution for AI model development. Powered by Nvidia’s DGX Cloud, this service provides a cloud instance equipped with eight Nvidia H100 or A100 GPUs and 640GB of GPU memory. Additionally, businesses can leverage Nvidia’s AI Enterprise software to develop AI applications and large language models. The collaboration also offers consultations with Nvidia experts, ensuring enterprises receive the necessary support for their AI projects.

By integrating Hugging Face’s platform, which boasts an extensive library of over 250,000 models and 50,000 datasets, Training Cluster as a Service offers businesses a valuable starting point for their AI projects. This collaboration empowers organizations to take control of their AI destiny by providing access to Nvidia’s advanced AI supercomputing capabilities and open-source tools. Clément Delangue, co-founder, and CEO of Hugging Face, emphasizes that this collaboration will contribute to the growth and development of the open-source community.

Hugging Face has come a long way since its inception in 2014. Initially a consumer app, the startup has evolved into a repository for all things related to AI models. Today, more than 15,000 organizations are utilizing Hugging Face’s platform. The partnership with Nvidia further solidifies Hugging Face’s position as a leading player in the AI space. The startup is reportedly seeking fresh funds at a valuation of $4 billion, a testament to its significant growth and potential.

Nvidia’s collaboration with Hugging Face aligns with the company’s strategic focus on cloud services for AI training. In recent years, Nvidia has been actively exploring and expanding its offerings in this domain. The demand for AI cloud training infrastructure has been soaring, leading to hardware shortages. This growth trend reinforces the importance of cloud-based solutions for training, experimenting with, and running AI models.

According to tech market research firm Tractica, AI is projected to account for up to 50% of total public cloud services revenue by 2025. This forecast underscores the immense potential and market demand for AI cloud services. The partnership between Nvidia and Hugging Face positions both companies to capitalize on this growth and cater to the evolving needs of businesses worldwide.

In summary, the collaboration between Nvidia and Hugging Face marks a significant milestone in the AI landscape. By combining Nvidia’s powerful AI supercomputing capabilities with Hugging Face’s extensive library of AI models, Training Cluster as a Service empowers businesses to harness the potential of AI technology. With this partnership, enterprises can embrace a future of innovation, customization, and accelerated AI development. As the demand for AI cloud services continues to rise, Nvidia and Hugging Face stand ready to support businesses in their AI endeavors, enabling them to shape their AI destiny with confidence.

First reported on TechCrunch

Frequently Asked Questions

1. What is the collaboration between Nvidia and Hugging Face about?

Nvidia, a tech giant known for AI technology, has partnered with Hugging Face, an AI startup. This collaboration aims to simplify the creation of custom generative AI models for enterprises. Nvidia supports Hugging Face’s Training Cluster as a Service, powered by Nvidia’s DGX Cloud supercomputing capabilities.

2. How will the collaboration benefit businesses?

The collaboration offers Training Cluster as a Service, which enables businesses to create customized generative AI models more easily. Powered by Nvidia’s DGX Cloud, the service provides advanced AI supercomputing capabilities and open-source tools, along with consultations from Nvidia experts, to support AI projects.

3. What is Hugging Face’s role in the collaboration?

Hugging Face’s platform, known for its extensive library of AI models and datasets, is integrated into the Training Cluster as a Service. This integration provides businesses with a valuable starting point for their AI projects and contributes to the growth of the open-source community.

4. What is Nvidia’s focus in recent years regarding AI cloud services?

Nvidia has been strategically focusing on cloud services for AI training. The collaboration with Hugging Face aligns with this focus, as Nvidia aims to provide cloud-based solutions for training, experimenting with, and running AI models.

5. How does this collaboration align with market trends in AI and cloud services?

AI is projected to account for a significant portion of total public cloud services revenue by 2025. The partnership between Nvidia and Hugging Face positions both companies to capitalize on the growing demand for AI cloud services and cater to the evolving needs of businesses in the AI landscape.

6. What does this collaboration mean for Hugging Face’s growth and valuation?

The collaboration with Nvidia further solidifies Hugging Face’s position in the AI space. The startup, which has evolved into a repository for AI models, is reportedly seeking fresh funds at a valuation of $4 billion, showcasing its substantial growth and potential.

7. How can enterprises benefit from Training Cluster as a Service?

Training Cluster as a Service offers businesses access to Nvidia’s powerful AI supercomputing capabilities through DGX Cloud. This enables enterprises to develop custom AI models, leverage open-source tools, and receive expert consultations, empowering them to accelerate AI development and innovation.

8. How does the collaboration contribute to the future of AI technology?

The collaboration between Nvidia and Hugging Face enables businesses to harness the potential of AI technology more effectively. By providing a comprehensive solution for AI model development, the collaboration supports customization, innovation, and accelerated AI adoption as demand for AI cloud services continues to rise.

Featured Image Credit: Photo by Evan Lee; Unsplash; Thank you!

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In recent years, there has been growing concern about the tax practices of multinational tech companies. These companies often generate substantial revenue in countries where they operate, but due to loopholes and complex tax structures, they pay minimal taxes. This has led to a significant loss of tax revenue for many countries, creating an imbalance in the global tax system.

To address this issue, the Organization for Economic Cooperation and Development (OECD) has been leading negotiations with over 130 countries to develop a global tax reform plan. The aim is to establish a minimum tax rate for multinational companies and ensure that they pay taxes in the jurisdictions where they generate profits.

While negotiations for a global tax reform deal have faced delays, Canada has taken the initiative to implement its own tech tax. The tax will apply to companies with annual revenue of at least 750 million euros, a threshold set by the OECD. This move sets Canada apart from other countries that are waiting for the global agreement to come into effect.

Canada’s decision to implement a tech tax aligns with the broader global effort to reform the tax system for multinational tech companies. The OECD-led negotiations aim to establish a minimum tax rate of 15% for these companies, effectively eliminating tax havens and ensuring that profits are taxed where they are generated.

Several countries, including Austria, France, Italy, Spain, and Britain, have already imposed their own digital services taxes. However, they faced threats of tariffs from the United States, which led to negotiations and a commitment to remove these taxes once the global agreement is in effect. Canada also agreed to pause its digital services tax and wait for the global deal to take effect.

Canada’s implementation of a tech tax brings several benefits to the table. Firstly, it ensures that tech companies contribute their fair share to the Canadian economy. This helps level the playing field for domestic businesses and promotes a more equitable business environment.

Secondly, the revenue generated from the tech tax can be used to fund essential public services, infrastructure development, and other government initiatives. This, in turn, benefits Canadian citizens and supports the overall economic growth of the country.

Furthermore, Canada’s implementation of a tech tax sends a strong message to other countries and multinational tech companies. It demonstrates Canada’s commitment to tax fairness and its willingness to take action to address the issue of tax avoidance.

While the implementation of a tech tax in Canada is a significant step forward, there are challenges that need to be addressed. One of the main challenges is ensuring that the tax is effectively enforced and that tech companies comply with their obligations.

The global tax reform plan is expected to generate approximately $150 billion in global tax revenue each year. This revenue can be used to address various economic challenges, invest in public services, and reduce inequality.

It is worth noting that the implementation of a global tax reform plan is a complex process that requires the cooperation and agreement of numerous countries. While progress has been made, there are still hurdles to overcome, and negotiations are ongoing.

In conclusion, Canada’s implementation of a tech tax is a significant step towards achieving global tax reform and ensuring that multinational tech companies pay their fair share. It demonstrates Canada’s commitment to tax fairness and sets an example for other countries.

The implementation of the tech tax brings several benefits, including increased revenue for the Canadian economy, a more equitable business environment, and funding for essential public services. However, challenges remain in enforcing the tax and ensuring compliance from tech companies.

As negotiations for a global tax reform plan continue, it is crucial for countries to work together to establish a fair and transparent tax system that promotes economic growth and reduces inequality. Canada’s actions serve as a reminder of the importance of tax fairness and the need for global cooperation in addressing this issue.

First reported on NY Times

Frequently Asked Questions

What is Canada’s technology tax?

Canada’s technology tax is a new tax introduced by the Canadian government to ensure that large multinational tech corporations pay their fair share of taxes in the country. The tax is aimed at addressing the issue of tech companies using legal loopholes and complex tax structures to minimize their tax obligations.

Why has there been a focus on taxing multinational tech companies?

Multinational tech companies have been generating significant revenue in various countries but paying comparatively little in taxes due to existing tax structures. This has led to concerns about tax avoidance and revenue loss for many nations.

What is the goal of the OECD-led negotiations on global tax reform?

The goal of the negotiations involving over 130 countries, led by the OECD, is to establish a global tax reform plan that sets a minimum tax rate for multinational corporations. The aim is to ensure that these companies pay taxes in the countries where they generate profits and to eliminate tax havens.

How does Canada’s technology tax fit into the global tax reform efforts?

Canada’s technology tax aligns with the international movement to reform the tax system for multinational tech companies. The tax is designed to ensure that tech giants operating in Canada pay their fair share and contribute to the country’s economy.

What is the threshold for companies to be subject to the technology tax?

The threshold for companies to be subject to the technology tax in Canada is 750 million euros in annual revenue. This ensures that larger tech corporations contribute to the Canadian economy.

What are the benefits of Canada’s technology tax?

Canada’s technology tax aims to promote tax equity, create a fair business environment, and generate revenue that can be used for public services and economic development.

How does Canada plan to enforce its technology tax?

Enforcing the technology tax and ensuring compliance from tech companies present challenges. The Canadian government needs to establish strong mechanisms, cooperate with other countries, and work towards a fair and equitable implementation of the tax.

What is the significance of global tax reform for multinational tech companies?

Global tax reform seeks to eliminate tax havens, establish a minimum tax rate, and ensure that tech companies pay taxes where they generate profits. The reform is estimated to increase annual global tax revenue by around $150 billion.

Why is international cooperation important for global tax reform?

Global tax reform requires coordination and consent from multiple nations. Collaboration is essential to ensure that multinational tech companies contribute their fair share to the countries in which they operate.

What can other countries learn from Canada’s implementation of a technology tax?

Canada’s implementation of a technology tax demonstrates a commitment to tax fairness and equity. Other nations can consider similar measures to ensure that tech companies contribute adequately to their economies and public services.

What challenges does the implementation of a technology tax face?

The implementation of a technology tax may face challenges related to enforcement, compliance, and the need for international cooperation. Tech companies are known for minimizing their tax obligations, making it important to establish effective mechanisms.

How does Canada’s approach to technology taxation contribute to economic growth and inequality reduction?

Canada’s technology tax can contribute to economic growth by generating revenue for essential public services. It promotes fairness and equity in the business environment and helps reduce income inequality. Collaborative efforts for global tax reform are essential to achieve these goals.

Featured Image Credit: Unsplash; Guillaume Jaillet

The post Big Tech Braces for Canada’s New Tax appeared first on SmallBizTechnology.

A recent statement by the FBI paints a bleak picture of the current state of cybercrime, focusing on the rapid advancement of AI technology and its impact on criminal activities. Cybercrime sprees are more common and sophisticated than ever thanks to the use of Open Source, Artificial Intelligence Large Language Models (LLM) like OpenAI’s ChatGPT. It is becoming increasingly difficult for law enforcement to detect and prevent sophisticated cyber attacks due to the availability of AI models that enable hackers to create phishing scams and cyber attacks that closely mimic human behavior.

For a long time, phishing attacks have been a constant danger in the online world. But now, with the help of AI, cybercriminals can conduct phishing campaigns that are both more convincing and more precisely targeted. Thanks to open-source AI, anyone can use any source material they like to train a Language Model. The proliferation of black-hat chatbots to aid in phishing attacks, malware development, and the creation of false information to trick victims is a direct result of this trend.

The FBI has not revealed which AI models have been used by cybercriminals, but they expect these tendencies to grow as AI becomes more widely used and accessible. Attackers can now create realistic websites, craft convincing phishing email chains, and automate the entire process of launching a phishing attack with the help of AI-powered tools, all without regard for linguistic barriers. Because the AI-generated content appears more and more genuine, it becomes more difficult for victims to spot fraudulent emails and websites.

The FBI also mentioned how the advent of AI has sped up the creation of polymorphic malware. Without advanced coding skills, cybercriminals can quickly code malware that bypasses current cybersecurity measures. Malicious actors can use AI to generate malware code by modifying a chatbot’s Application Programming Interface (API), giving even the most inexperienced hacker the tools they need to create and spread viruses.

When it comes to creating malicious software, WithSecure’s head of threat intelligence Tim West admits that AI like ChatGPT makes it easier for bad actors to get started. Because of the availability and simplicity of AI-powered tools, even those with limited technical knowledge can create complex and stealthy malware, further complicating the state of cybersecurity.

The use of artificial intelligence (AI) to create fake news is a major security risk in the modern online environment. The FBI has issued a warning that AI can be used to create harmful deep fakes, with potentially disastrous results. In order to defraud their victims, attackers can pretend to be authoritative figures or issue fake press releases inciting violence.

In order to stop the spread of fake news, it’s crucial to be able to tell the difference between content made by humans and that made by artificial intelligence. As a result of this growing worry, many of the biggest names in artificial intelligence have committed to creating tools to identify and counteract deep fakes, including OpenAI, Microsoft, Meta, and Google.

As AI develops further, it will become increasingly important for people and businesses to be on guard and take preventative measures against cyberattacks powered by AI. Key considerations include the following:

It’s crucial to be up-to-date on artificial intelligence and cybersecurity trends. Individuals and institutions can better understand the risks associated with AI-powered attacks if they remain well-informed.

To protect against cyber attacks, it is essential to implement thorough security measures. Multi-factor authentication should be used whenever possible, along with strong and unique passwords, regular software and system updates, and regular updates.

Vulnerabilities in systems and networks can be found through routine security audits. The risk of AI-powered attacks can be reduced by regularly assessing the system and applying fixes as soon as they are discovered.

Successful cyber attacks can be drastically reduced by educating employees about the risks of AI-powered attacks and training them to recognize phishing attempts. Cybersecurity best practices can be reinforced with regular training sessions and simulated phishing exercises.

While AI has the potential to be used maliciously, it also has the potential to be used to improve cybersecurity. Artificial intelligence (AI)-powered security solutions can help identify and counteract AI-created dangers. In order to identify potential cyber attacks in real time, these solutions use AI algorithms to analyze patterns and spot outliers.

The FBI’s warning about cybercriminals’ growing use of AI emphasizes the importance of staying alert to the threat and taking preventative measures against cyberattacks enabled by AI. Hackers are taking advantage of AI’s growing sophistication to launch more devious phishing attacks, design stealthy malware, and produce convincing deep fakes. Staying informed, implementing strong security measures, conducting regular audits, offering cybersecurity training, and deploying AI-powered security solutions are all necessary to protect against these threats. The best way for individuals and businesses to protect themselves from the increasing number of AI-powered cyber attacks is to maintain a state of constant vigilance and preparedness.

First reported on Tech.co

Frequently Asked Questions

Q1: How is AI being used in cybercrime?

A1: AI is being used by cybercriminals to conduct more convincing and targeted phishing campaigns, create polymorphic malware, generate fake news and deep fakes, and mimic human behavior in cyber attacks.

Q2: What concerns has the FBI raised regarding AI and cybercrime?

A2: The FBI has warned about the increasing prevalence of AI in cybercrime, including its use in phishing attacks, malware creation, and the production of deep fakes. The agency is concerned about the sophistication and effectiveness of these AI-enabled tactics.

Q3: How does AI impact phishing attacks?

A3: AI enables cybercriminals to create more convincing and precisely targeted phishing campaigns. Open-source AI tools allow hackers to train language models that craft realistic phishing emails and websites, making it difficult for victims to detect fraudulent content.

Q4: What role does AI play in malware creation?

A4: AI accelerates the creation of polymorphic malware, allowing even inexperienced hackers to generate code that bypasses cybersecurity measures. AI-powered tools modify chatbot APIs to produce complex and stealthy malware.

Q5: What risks do deep fakes pose in the context of AI?

A5: Deep fakes created using AI can be used to impersonate authoritative figures or issue fake press releases, potentially leading to harmful outcomes or inciting violence.

Q6: How are major AI companies responding to the threat of AI-powered cyberattacks?

A6: Prominent AI companies, including OpenAI, Microsoft, Meta, and Google, are committed to developing tools to identify and counteract deep fakes, helping to mitigate the spread of fake news.

Q7: What preventive measures can individuals and businesses take against AI-powered cyberattacks?

A7: To protect against AI-enabled cyber threats, it’s crucial to stay informed about AI and cybersecurity trends, implement robust security measures like multi-factor authentication and strong passwords, conduct routine security audits, provide cybersecurity training to employees, and deploy AI-powered security solutions for real-time threat detection.

Q8: How can AI be used to enhance cybersecurity?

A8: AI-powered security solutions can analyze patterns, identify outliers, and counteract AI-created dangers in real time. This technology contributes to improving cybersecurity defenses against evolving AI-enabled attacks.

Q9: What is the main takeaway from the FBI’s warning?

A9: The FBI’s warning underscores the importance of vigilance and preparedness in the face of growing AI-powered cyber threats. Staying informed, implementing strong security practices, conducting regular security assessments, and leveraging AI-powered security solutions are essential to mitigating the risks of cyberattacks enabled by AI.

Featured Image Credit: Unsplash

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According to Toby Walsh, the chief scientist of the AI Institute at the University of New South Wales, AI will be “very disruptive” to the employment landscape. Certain jobs will be transformed, while others may be created or even eliminated. It is crucial for businesses to recognize this shift and prepare accordingly. The best approach is to become informed about AI technology, understand its potential applications, and start utilizing it to increase productivity.

The Data and AI for Business Conference emphasized the immense growth opportunities that AI can bring to the world economy. Estimates suggest that AI has the potential to boost the global economy by 15 percent. To ensure that Australian businesses, including those in Western Australia (WA), can benefit from this growth, it is essential to embrace AI as a tool for enhancing business operations.

Alex Jenkins, the director of the WA Data Science Innovation Hub, highlighted the versatility of AI, which can be applied to industries of all sizes and shapes. Industries such as mining, farming, and medical research stand to benefit greatly from AI technologies. However, every business can harness AI to improve efficiency and streamline processes. Jenkins advised businesses to familiarize themselves with AI tools like ChatGPT, treating them as colleagues at work, and gradually integrating AI into their day-to-day operations.

The conference not only focused on the practical applications of AI for businesses but also delved into the broader implications of this technology. Mathematician and former ABC Radio host Adam Spencer described AI as one of the great tech revolutions of our time, comparable to the advent of smartphones. He emphasized the transformative potential of AI, citing examples like remote surgeries where a surgeon in one location can perform a procedure in another. The possibilities are vast, and businesses need to be prepared to leverage AI to its fullest extent.

While the potential benefits of AI are vast, there are also concerns about its misuse and the concentration of power in the hands of a few corporations or individuals. Alex Jenkins expressed apprehension about the potential inequality that could arise if access to powerful AI tools is limited. He stressed the importance of striking a balance between regulation and innovation to ensure that AI is used ethically and for the benefit of society as a whole. Governments, particularly at the federal level, have a crucial role to play in establishing clear regulations that promote responsible AI usage.

Now that we understand the significance of AI and the need for businesses to embrace it, let’s explore some practical steps that can help you navigate the AI revolution:

1. Educate Yourself and Your Team

To effectively incorporate AI into your business, it is essential to educate yourself and your team about the technology. Stay updated on the latest advancements, attend conferences and workshops, and invest in training programs to enhance your AI literacy. By equipping yourself with knowledge, you can make informed decisions about integrating AI into your business operations.

2. Identify AI Use Cases

Take the time to assess your business processes and identify areas where AI can add value. Whether it’s automating repetitive tasks, improving customer service through chatbots, or leveraging data analytics for decision-making, understanding how AI can enhance your specific operations is crucial. Collaborate with your team to brainstorm potential use cases and prioritize them based on their impact and feasibility.

3. Start Small and Scale

Implementing AI doesn’t have to be an all-or-nothing endeavor. Start by piloting small AI initiatives to test their effectiveness and gather feedback. This approach allows you to learn from the implementation process and make necessary adjustments before scaling up. By starting small, you can minimize risks and build confidence in the value AI brings to your business.

4. Foster a Culture of Innovation

To fully embrace the AI revolution, it is essential to foster a culture of innovation within your organization. Encourage your employees to explore new ideas, experiment with AI technologies, and share their insights. Create opportunities for cross-functional collaboration and provide resources for continuous learning. By nurturing an environment that embraces innovation, you can tap into the creative potential of your team and drive AI adoption forward.

5. Collaborate with AI Experts

AI is a complex field, and partnering with experts can significantly accelerate your AI journey. Seek collaborations with AI startups, research institutions, or consultants who specialize in AI implementation for businesses. Their expertise can guide you through the process, helping you avoid common pitfalls and achieve optimal results. Remember, you don’t have to navigate the AI revolution alone.

6. Address Ethical Considerations

As AI becomes increasingly powerful, addressing ethical considerations is paramount. Ensure that your AI initiatives adhere to ethical guidelines and respect privacy and data protection regulations. Strive for transparency in how AI algorithms make decisions and be mindful of potential biases. By incorporating ethical considerations into your AI strategy, you can build trust with your customers and stakeholders.

7. Stay Agile and Adaptive

The AI landscape is continuously evolving, and businesses must stay agile and adaptive to remain competitive. Stay abreast of emerging AI technologies, industry trends, and best practices. Regularly assess and reassess your AI strategy to align with changing market dynamics. Embrace a mindset of continuous improvement and be open to embracing new AI innovations as they emerge.

8. Invest in AI Talent

Building a talented AI team is crucial for successful implementation. Invest in hiring or upskilling employees with AI expertise. Seek individuals who have a deep understanding of AI technologies, data analysis, and machine learning. By having the right people in your organization, you can unlock the full potential of AI and drive innovation.

9. Leverage AI for Customer Experience

AI has the potential to revolutionize customer experience. Explore how AI-powered chatbots can improve customer support by providing instant responses and personalized assistance. Utilize AI algorithms to analyze customer data and gain insights into their preferences and behaviors. By leveraging AI for customer experience, you can enhance satisfaction and drive customer loyalty.

10. Embrace a Growth Mindset

Embracing the AI revolution requires a growth mindset. Be open to change and willing to take calculated risks. Encourage your team to experiment, learn from failures, and iterate on ideas. Stay curious and curious about new AI developments and their potential applications. By adopting a growth mindset, you can position your business as a leader in the AI-driven future.

Needless to say, the AI revolution is underway, and businesses that fail to adapt risk falling behind. By embracing AI, businesses can unlock new opportunities, enhance efficiency, and drive growth. Educate yourself, identify use cases, foster innovation, collaborate with experts, address ethical considerations, and stay agile. Embrace the AI revolution with a growth mindset and position your business at the forefront of technological advancement. The future belongs to those who seize the potential of AI and leverage it to transform their operations.

First reported on MSN

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Planning a vacation can be a time-consuming task, requiring extensive research to find the best deals, accommodations, and activities. However, with the advent of AI, travel agents can now streamline their workflow and deliver personalized itineraries more efficiently. Nicole Cueto, a New York-based public relations consultant, has successfully integrated AI into her travel advising side hustle. By utilizing ChatGPT, a powerful AI language model, she has significantly reduced her research time.

Cueto explains, “In the past, planning one day of vacation would take me five to seven hours. But with ChatGPT, I can cut that time in half.” This newfound efficiency allows Cueto to take on more clients and earn an average of $670 per month from her side hustle. By leveraging her extensive travel experience and ChatGPT’s recommendations, Cueto can provide her clients with budget-conscious guides that incorporate historical neighborhoods and unique perspectives.

While AI can expedite the planning process, Cueto emphasizes the importance of fact-checking and further research to ensure accuracy and reliability. Nonetheless, the time-saving benefits of AI have empowered Cueto to enhance her services and increase her earning potential.

Content creation is a vital aspect of any business’s marketing strategy, but it can be time-consuming and resource-intensive. AI-powered content assistants are revolutionizing this process by generating blog articles, newsletters, and social media posts. Companies are now hiring part-time content assistants who leverage AI chatbots to create content that can later be fact-checked and refined by human editors.

This emerging side hustle, also known as AI content editing, has gained traction due to its potential to earn individuals anywhere from $20 to $100 per hour. The process is simple: content assistants provide chatbots with relevant prompts, such as transcriptions or specific topics, and the AI generates initial drafts. Angelique Rewers, founder of BoldHaus, a small-business consulting firm, believes that AI content assistants are the next big thing in side hustles. However, she emphasizes the importance of proofreading and ensuring the generated content is coherent and accurate.

The demand for AI content assistants is increasing, and platforms like Upwork are witnessing a surge in freelancers specializing in this field. Margaret Lilani, Vice President of Talent Solutions at Upwork, acknowledges the high demand and encourages freelancers to seize this opportunity. As AI technology continues to improve, content assistants can expect even greater earning potential and opportunities for growth.

Artistic endeavors require time and effort, from crafting emails and business templates to editing photographs. AI tools are now empowering artists to streamline their workflow and focus on their creative process. Sean Audet, a trained fine dining chef turned food photographer, has integrated AI into his side hustle, which has allowed him to enhance his business operations.

Audet uses AI, such as ChatGPT, to craft emails and build business templates, saving him valuable time. While he acknowledges the need for specific instructions to ensure accurate outputs, Audet believes that AI will become increasingly valuable as technology advances. He has also experimented with generative AI on photographs, using programs like Midjourney to make minor edits and adjustments. Although AI can produce surprisingly good results, Audet emphasizes that the technology is not yet refined enough for professional projects that require meticulous attention to detail.

While the immediate impact of AI on Audet’s business may be relatively low, he recognizes the long-term potential and the opportunity to invest his saved time in more profitable endeavors. As AI technology continues to evolve, artists like Audet can expect to see increased efficiency and improved results in their creative pursuits.

Artificial intelligence is revolutionizing side hustles across various industries, unlocking new opportunities for individuals to earn extra income. By leveraging AI tools and platforms, people can save time, increase productivity, and ultimately make more money. However, it’s important to approach AI integration with caution and recognize its limitations. While AI can expedite processes and provide valuable insights, human oversight, fact-checking, and creativity remain essential.

Integrating AI into your side hustle can be a transformative experience, empowering you to deliver high-quality services, generate engaging content, and unleash your creativity. The key lies in finding the right AI tools and platforms that align with your specific needs and industry requirements. As AI technology advances, its impact on side hustles will continue to grow, creating new opportunities for individuals to thrive in the gig economy.

Embrace AI as a valuable assistant, allowing you to unlock your full potential, maximize your earning potential, and achieve success in your side hustle. Stay informed about the latest AI advancements, explore new tools and platforms, and be open to adapting your workflow to leverage the power of AI. With the right approach, AI can be a game-changer, propelling your side hustle to new heights.

FAQs

1. Can AI completely replace human involvement in side hustles?

No, AI cannot completely replace human involvement in side hustles. While AI tools can expedite processes and provide valuable insights, human creativity, judgment, and oversight are still crucial. AI should be seen as a powerful assistant that enhances productivity and efficiency, rather than a complete replacement for human involvement.

2. How can I find the right AI tools for my side hustle?

Finding the right AI tools for your side hustle involves conducting thorough research and exploring various options. Consider your specific needs, industry requirements, and budget when evaluating different AI platforms. Look for tools that offer the features and capabilities that align with your goals and objectives. Additionally, read reviews, seek recommendations from industry peers, and take advantage of free trials or demos to assess the suitability of the AI tools for your side hustle.

3. Are there any risks associated with using AI in side hustles?

While AI can bring numerous benefits to side hustles, there are potential risks to be aware of. AI tools may produce inaccurate or misleading outputs, especially when working with complex or ambiguous prompts. It is crucial to fact-check and validate the information generated by AI. Additionally, data security and privacy should be considered when using AI tools that require access to sensitive information. Stay informed about the latest developments and best practices in AI to mitigate potential risks and ensure a successful integration into your side hustle.

4. Can AI help me scale my side hustle?

Yes, AI can help you scale your side hustle by increasing your productivity and efficiency. With AI tools, you can automate repetitive tasks, streamline workflows, and deliver personalized services at scale. This allows you to take on more clients, expand your offerings, and ultimately increase your earning potential. By leveraging AI, you can maximize your time and resources, enabling your side hustle to grow and thrive.

5. How can I stay updated on the latest AI advancements relevant to my side hustle?

To stay updated on the latest AI advancements relevant to your side hustle, it is essential to engage in continuous learning and research. Follow reputable industry publications, blogs, and social media accounts that focus on AI and related technologies. Join relevant online communities, attend webinars and conferences, and participate in forums to interact with experts and stay informed about the latest trends and developments. Embracing a growth mindset and actively seeking knowledge will ensure you remain at the forefront of AI advancements in your field.

In conclusion, AI is revolutionizing side hustles by saving time, increasing productivity, and enabling individuals to make more money. From travel agents to content assistants and artists, AI tools are empowering professionals across various industries. By adopting AI in your side hustle, you can unlock new opportunities, enhance your services, and achieve success in the gig economy. Embrace AI as a valuable assistant, and let it propel your side hustle to new heights.

First reported by CNBC.

The post How AI is Making Side Hustles More Lucrative appeared first on SmallBizTechnology.

Fortunately, small businesses across the United States can turn to the Small Business Administration’s SCORE program for guidance. SCORE offers free mentorship services and workshops to small business owners and entrepreneurs nationwide, including a webinar specifically designed to help businesses implement AI tools.

AI has the potential to revolutionize the way small businesses operate. By leveraging AI tools, small businesses can automate tasks, analyze data, optimize marketing strategies, and even draft legal documents. The possibilities are endless.

According to a recent SCORE workshop, while 70% of small business owners are aware of AI tools, only 40% are actively utilizing them. This suggests that many small business owners are still in the learning phase and have not yet fully incorporated AI into their processes.

Paul Ohlson, a small business owner and SCORE mentor, explains that most small businesses are currently using text-based or content-based AI tools, such as ChatGPT, to generate content for their blogs, newsletters, and websites. Some businesses are also using prospecting tools to automate lead generation. These AI tools allow small businesses to accomplish tasks without the need to hire additional staff, enabling them to scale more cost-effectively.

The SCORE program, with its network of experienced business mentors, is an invaluable resource for small businesses looking to implement AI. SCORE mentors have expertise in entrepreneurship and various aspects of business operations. They can provide guidance and support throughout the AI implementation process.

Small business owners can benefit from SCORE’s free webinar on “How to Effectively Use Artificial Intelligence in Your Business,” which will cover the fundamentals of AI, its potential applications, and a step-by-step process for implementing AI tools. The webinar will also provide actionable strategies for using AI in prospecting, negotiation, and closing deals to drive business growth.

One of the advantages of working with SCORE is the vast knowledge and expertise available through its network of mentors. As a SCORE mentor, Paul Ohlson emphasizes the value of this collective knowledge. He explains, “There’s so much knowledge at SCORE, and as a SCORE mentor, I don’t have to know everything. Why? Because I have an army of other SCORE mentors all across the nation that I can contact and pull into a call with a client, and so you have every aspect of business knowledge at your fingertips when you work with SCORE.”

AI tools can assist small businesses in various aspects of their operations, including finance analysis, marketing optimization, competitor monitoring, and contract drafting. However, it’s important to note that AI is not infallible, and users should still verify its output and consult legal professionals for any legal documents generated by AI tools.

Here are some popular AI tools that small businesses can consider implementing:

AI tools can help small businesses analyze financial data, identify trends, and make informed decisions. These tools can provide insights into cash flow management, budgeting, and financial forecasting.

AI tools can analyze customer data, behavior patterns, and market trends to optimize marketing strategies. They can help small businesses identify target audiences, create personalized marketing campaigns, and improve customer engagement.

AI tools can monitor competitors’ activities, including pricing strategies, product launches, and marketing campaigns. This information can help small businesses stay competitive and make informed business decisions.

AI tools can generate contracts and other legal documents based on predefined templates and legal language. While these tools can save time and effort, it’s crucial to review the output with an attorney to ensure accuracy and compliance with legal requirements.

Implementing AI tools can bring numerous benefits to small businesses, especially those with limited resources.

AI tools can automate repetitive tasks, allowing small business owners to focus on more strategic activities. This leads to increased productivity and efficiency, enabling businesses to accomplish more with fewer resources.

By leveraging AI tools, small businesses can scale their operations without the need to hire additional staff. AI can handle tasks that would traditionally require human intervention, enabling businesses to grow in a more cost-effective manner.

AI tools can analyze large volumes of data and provide valuable insights. Small businesses can use these insights to make informed decisions, optimize their processes, and identify new opportunities for growth.

Implementing AI can give small businesses a competitive edge. By leveraging AI tools to automate tasks, optimize marketing strategies, and monitor competitors, small businesses can stay ahead of the competition and respond quickly to market changes.

If you’re a small business owner looking to harness the power of AI, the SCORE program is an excellent resource to guide you through the process. With its network of experienced mentors, SCORE can provide the knowledge, support, and guidance you need to implement AI tools effectively.

To get started, consider attending SCORE’s free webinar on “How to Effectively Use Artificial Intelligence in Your Business.” This webinar will equip you with the fundamental knowledge and practical strategies to integrate AI into your operations and drive business growth.

Remember, technology should not be intimidating. Embrace the opportunities AI presents and leverage the expertise of SCORE mentors to navigate the world of AI implementation successfully. With the right guidance and tools, you can take your small business to new heights.

Artificial Intelligence has the potential to transform small businesses by boosting efficiency, automating tasks, and providing valuable insights. However, many small business owners are still in the process of understanding and integrating AI tools into their operations. The SCORE program, with its free mentorship services and workshops, is a valuable resource for small businesses looking to implement AI effectively.

By attending SCORE’s webinar on “How to Effectively Use Artificial Intelligence in Your Business,” small business owners can gain insights into the potential applications of AI, the implementation process, and strategies for driving business growth. With the support of SCORE mentors and the power of AI, small businesses can streamline operations, optimize marketing strategies, and stay competitive in today’s digital landscape.

Don’t let the fear of technology hold your small business back. Embrace AI, leverage the expertise of SCORE, and unlock the full potential of your business. The future is AI-powered, and with the right guidance, your small business can thrive in this rapidly evolving digital world.

First reported by Fox Business.

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According to the survey, nearly two-thirds (64%) of C-suite executives expressed their intention to hire more professionals of all types due to generative AI. This positive outlook on hiring is reflected in the types of workers that organizations plan to bring onboard. The survey found that 49% of business leaders surveyed intend to hire freelancers, while another 49% plan to hire full-time employees. This even split between freelancers and full-time employees suggests a balanced approach to workforce expansion.

The research also revealed a disconnect between C-suite executives and their senior managers regarding the degree of AI adoption within their companies. While 73% of C-suite executives reported embracing AI, only 54% of VPs, 52% of directors, and 53% of senior managers expressed the same sentiment. This discrepancy may be attributed to a lack of training and understanding of how AI will impact work.

Kelly Monahan, the managing director of the Upwork Research Institute, emphasized the importance of bridging this gap. She suggested that organizations should implement change management strategies that include effective communication of expected outcomes related to generative AI adoption, clear policies, and addressing fear and uncertainty. Encouraging teams to adopt a learning orientation is also crucial in navigating the impact of AI in the workplace.

Contrary to concerns about AI leading to massive job losses, economic research, such as a study by Goldman Sachs, suggests that AI is more likely to be a complementary tool for human workers rather than a complete replacement. According to the Goldman Sachs study, automation based on AI is used in some capacity in about two-thirds of American jobs. However, the typical proportion of work in a given profession that can be automated by AI is between 25% and 50%.

This finding highlights the potential for AI to augment human capabilities rather than render them obsolete. Rather than eliminating jobs, AI has the potential to automate certain tasks, allowing employees to focus on more strategic and creative aspects of their work. This shift can lead to increased productivity and efficiency within organizations.

The Upwork survey also found that the adoption of AI varies based on the size of a company and the work arrangements of its employees. Midsized companies with workforces ranging from 501 to 5,000 employees showed the highest level of AI adoption, with 62% leveraging AI. In comparison, larger companies with over 5,001 employees exhibited a slightly lower adoption rate of 41%. Small companies with 251 to 500 employees had a 56% AI adoption rate.

Furthermore, the survey revealed that companies with remote-first workforces were more likely to embrace AI. Among full-time remote firms, 68% reported using AI, while only 53% of companies that primarily worked from physical offices did the same. The survey also indicated that companies with hybrid work arrangements, ranging from three to four remote days per week to two to three remote days per month, also showed a favorable attitude towards generative AI adoption.

As businesses continue to explore the potential of AI, it is essential to understand that AI is not a threat to human employment but rather a tool that can drive innovation, efficiency, and growth. The survey findings suggest that business leaders are optimistic about the impact of generative AI, with a majority of C-suite executives planning to hire more professionals. This hiring trend includes both freelancers and full-time employees, indicating a flexible approach to workforce expansion.

To fully embrace generative AI, organizations need to invest in training and education for their employees, ensuring they have the skills and knowledge to work effectively alongside AI technologies. Moreover, clear communication, change management strategies, and addressing concerns and uncertainties are vital for successful AI adoption. By adopting a learning orientation, businesses can navigate the evolving landscape of AI and leverage its potential to drive positive change.

First reported by Fox Business.

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OpenAI, a leading research laboratory in the field of artificial intelligence, has recently announced its plans to introduce an app store for AI software. This marketplace will allow developers to offer their own versions of generative AI, expanding the reach and availability of this cutting-edge technology. OpenAI’s ChatGPT, launched last year, has gained significant traction among tech experts. Now, companies can refine and personalize the technology by developing their own models and making them available through OpenAI’s app store. This strategic move not only widens OpenAI’s customer base but also provides developers and businesses with access to a diverse range of AI solutions tailored to their specific needs.

As a developer or someone in search of custom-developed AI solutions, OpenAI’s app store presents a promising opportunity. By leveraging the software offerings in the marketplace, you can enhance your business operations, improve efficiency, and unlock new possibilities. It’s essential to keep an eye on this development and explore how these AI applications can benefit your specific industry or business niche.

In a bid to revitalize its business, Twitter is undergoing significant changes under the leadership of CEO Linda Yaccarino and with the involvement of Elon Musk. The social media giant aims to strengthen its brand by focusing on video content and commerce. Yaccarino has been engaging with political and entertainment figures to stabilize and enhance the Twitter platform. These strategic efforts aim to attract more businesses to the platform, creating new opportunities for engagement and growth.

As a business owner, Twitter’s renewed focus on video and commerce can offer you valuable opportunities to connect with your audience, promote your products or services, and drive business growth. By leveraging the platform’s features, you can engage with potential clients, build brand awareness, and establish yourself as an industry authority. Keep an eye on Twitter’s updates and explore how you can leverage these changes to your advantage.

If you’re a WordPress user looking to streamline your content creation process, you’ll be delighted to know that WordPress.com has launched an AI assistant called Jetpack AI Assistant. This tool is designed to assist with various aspects of content creation, including post generation, headline creation, and translations. With its automation capabilities, Jetpack AI Assistant can help you expedite your content production, improve the structure of your blog posts, and even provide translations. Furthermore, the AI assistant features a chat function, allowing users to ask questions and receive prompt responses.

Maintaining an active blog is crucial for businesses to establish thought leadership, engage with their audience, and drive organic traffic to their website. With WordPress.com’s Jetpack AI Assistant, you can streamline your content creation process, save time, and ensure consistency in your posts. This tool can be a valuable asset for small businesses with limited resources, enabling them to produce high-quality content efficiently.

Humanly, a Seattle-based startup, has recently secured $12 million in Series A funding to fuel its AI-powered recruiting automation platform. This platform aims to assist companies in finding candidates with relevant experience by leveraging AI chatbots and analytics features. The funding will enable Humanly to further enhance its SMS chatbots, which help streamline the hiring process and ensure adherence to specific criteria. Additionally, the platform offers interactive exchanges during live calls, generating insights and sending follow-up emails.

Recruiting the right talent is a critical aspect of business growth and success. By leveraging AI-powered platforms like Humanly, businesses can automate and optimize their recruiting processes, saving time and resources. While these platforms have been primarily adopted by larger organizations, their increasing accessibility and decreasing costs make them viable options for small businesses as well. Keep an eye on the advancements in AI-powered recruiting automation to find the best solution for your hiring needs.

When you or your employees are on the go, accessing networks securely is of utmost importance. ZDNet has conducted extensive testing to identify the best travel VPNs that ensure safe browsing and streaming while traveling. Virtual Private Networks (VPNs) protect personal data by encrypting your internet connection and hiding your public IP address. By using a travel VPN, you can safeguard sensitive business information and mitigate the risk of data breaches.

In an increasingly digital world, protecting your business’s data and ensuring online security is paramount. When traveling, connecting to public Wi-Fi networks can expose your sensitive information to potential threats. By using a reliable travel VPN, you can establish a secure and encrypted connection, mitigating the risks associated with public networks. Consider the VPNs recommended by ZDNet to protect your business’s data while on the move.

Staying abreast of the latest tech developments can give your small business a competitive edge. From OpenAI’s app store for AI software to Twitter’s focus on video and commerce, these advancements present opportunities for growth and innovation. By leveraging WordPress.com’s AI assistant and AI-powered recruiting automation platforms like Humanly, you can streamline your operations and enhance productivity. Additionally, ensuring secure browsing while traveling through the use of travel VPNs is crucial to safeguard your business’s sensitive data. Embrace these technological advancements and empower your business to thrive in the digital age.

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And unlike in more labor-intensive industries, AI-powered changes have largely been a boon for marketers and the brands they support. According to a December 2021 survey by Salesforce Research, 89% of automation users feel more satisfied in their jobs and nearly as many feel better about their organizations since they began using these tools. Fewer than one in five worry that automation will replace their jobs and about three in four say AI helps them get work done faster.

If you feel like you haven’t quite kept pace with recent trends in this space, or you fear you’re losing your edge against more nimble competitors, there’s still time to catch up. Here’s what you need to know about the AI-powered trends driving digital marketing in 2023 and beyond.

These 5 Emerging Tech Trends Are Transforming Digital Marketing

Each of these trends is already having a significant impact on digital marketers’ work. Plus, the people and brands they work for. That impact is only set to grow in the near future.

1. PPC Marketing Automation for More Relevant In-Search Ads

PPC marketing has always been automated to some extent, but the toolkit PPC marketers use is quickly growing more powerful and less human-centric. The space took a major leap forward in 2021 and 2022 with Google’s release and subsequent updates of Performance Max, a cross-platform solution that knits together (largely automated) campaigns in YouTube, Search, Discover, Gmail, Maps, and other channels.

According to Optmyzr, which offers automation and analysis solutions that complement Google’s PPC suite, “[t]he future of humans in PPC will be about data quality and amplifying that which computers are unable to simulate, such as creativity and nuanced decision-making.” For the foreseeable future, this will be particularly important for marketers and brands that use Performance Max, which has a reputation with some for its limited visibility and often confusing outputs.

2. Email Marketing Automation to Keep Leads “Warm”

Like PPC marketing, email marketing has long benefited from increasingly sophisticated automation solutions. Gone are the days of sending out generic email blasts and praying even a tiny fraction of recipients clicked through.

Today, email marketing is all about personalization and user journeys. That wouldn’t be possible without AI-powered tools that recognize and capitalize on useful patterns faster than humans can. These tools enable channel-specific email funnels, where (for example) funnels beginning with LinkedIn or Pinterest sign-ups each look different than website-originated journeys.

They also deepen the sometimes-standoffish relationship between sales and marketing, with (for example) automated “schedule a call with our sales team” emails and third-party calendar integrations that nudge prospects through the early stages of the funnel. AI-powered tools are integral here: Solutions like ACT! use machine learning to score leads and generate flows that, based on mountains of available data, are more likely to convert.

3. Landing Page Automation for Better Personalization and Targeting

Truly personalized, individualized marketing is still some ways off, but it’s coming. And AI-generated, semi-personalized landing pages already play a big role.

This role will only grow in the future. Many marketers do have reservations about going all-in on AI-generated content, but Google itself has made clear that it doesn’t automatically penalize such content. The same quality, helpfulness, and anti-spam standards apply. This means that as long as the end result passes those tests, the risk is low. Yes, humans will edit and curate AI-generated landing pages (and other AI-generated marketing content) for a while yet, but less and less over time.

4. AI Content Generation for More Efficient Social Media Marketing

Another area where AI-generated content is poised to transform marketing is social media. It is a resource-intensive channel that produces wildly divergent outcomes. Many brands spend years plugging away on social in the unrealized hopes of going viral and changing everything, burning embarrassing sums along the way. Others get lucky with surprisingly little effort. Still, others do enough to justify the investment without really breaking through.

Automated social content, especially video, and animation skews the odds in marketers’ favor. It costs less to produce even after accounting for human editing and curation. Plus, it can be more creative or “unexpected” than human creators. Statistically, the combination of lower production costs and higher “creative volatility” increases the chances of both transformational viral events and incremental performance improvements.

5. AI-Powered Chatbots for Better Lead Management (And Support)

Marketers’ jobs don’t end when a prospect converts or even when the sale is finally done. A holistic approach to marketing requires ongoing support for current and former customers. This is true even for relatively transactional businesses where the average order value is low and most customers don’t repeat. Customers talk, and in a world where frank opinions freely transit social media channels and product review pages, it only takes a few bad experiences to harm a brand.

Not too long ago, all customer support functions relied on human labor, either directly or one step removed. AI-powered chatbots now handle basic support in many settings. Expect them to continue to replace human CSRs for more complex tickets as well. They’re increasingly important for presale support as well, doing valuable work to keep leads warm while human marketers work on higher-value strategic tasks.

Digital Marketing Automation Is Just Getting Started

Each of these digital marketing trends qualifies as a significant step forward. Some are even more impactful. They’re legitimate leaps. If you could bring a first-generational marketer forward in time from the late 1990s, you’d likely amaze and maybe even scare them with what’s possible.

Now imagine, if you dare, what the digital marketing landscape will look like 25 years from now. Will we even recognize it as such? How much influence will humans retain over tactics and strategy? Will humans be involved at all?

The point is that, yes, digital marketing has become increasingly automated since the early days of the public internet. The pace has accelerated in the past few years thanks in part to accelerating improvements in AI. Yet we’re still early in the arc of marketing automation. We can’t even imagine what’s coming over the horizon.

We can control how we respond to it, however. And in a near future where fewer human marketers will carry ever-greater workloads, it’s important to stay as far ahead of the curve as, er, humanly possible.

The post The Power of Automation: How Emerging Tech is Creating a Shift in Digital Marketing appeared first on SmallBizTechnology.

Intelligent automation can increase productivity, accuracy, and compliance while decreasing costs and enhancing staff morale and customer happiness.

Bringing IA into your firm is a people-centered strategic business change, not a technological project. You need top-level sponsorship to get the change started, the necessary skills to make it work, and the support and buy-in of employees at all levels of the organization to assure long-term success.

High-Level Management

Senior management endorsement helps to define the automation goal for the whole organization. They release the cash and resources required to expand the project fast.

Your IA transformation has limits in scale without top-level backing, maybe to one department. Confining your automation project to an organizational silo will likely under perform and fail to realize its full potential. Consequently, resulting in a vicious loop in terms of getting funds and talent for the next step of the roadmap.

With top management buy-in and enterprise-level vision, on the other hand, you’ll be capable of launching a deep-impact, highly-increased pilot. That is to say, quickly access the funding and resources needed to scale, unlocking the synergies and economies of scale that come with end-to-end organization-wide intelligent automation pipelines.

Automation Talent

The proper personnel is critical to the success of your IA transformation; therefore, begin forming your team as early as possible in the process. This offers them a feeling of ownership over the project. They have knowledge of its history from the start, which will be helpful as the project continues into its latter phases.

Form an IA leadership committee to supervise the transition and an IA center of excellence (CoE) to execute and deliver it. The leadership committee is in charge of overseeing the transition and developing the vision, business case, and strategy. Top management from all company departments engaged in the transformation should be present.

The CoE is accountable to the leadership committee. It is in charge of carrying out the IA plan, creating and managing all of the policies, frameworks, and typical assets required for the transformation, and discovering further possibilities for innovation. The expertise necessary for the CoE is diversified and not only technical. You may encompass developers, architects, data scientists, testers, machine learning experts, data engineers, and IT and systems professionals on the technical side. However, it is also critical to involve experts in operations, risk management, change management, communication, and training.

Data Science

Because intelligent automation and data science are rapidly emerging industries, it might be challenging to discover the proper people via external recruiting. Don’t depend too much on short-term external consultants. You’ll need people to remain around beyond the first implementation phase to maintain your IA infrastructure and grow and enhance it as technology changes and new automation possibilities emerge.

Consider internal hiring and upskilling current employees. I’ve seen organizations effectively discover 60% of the essential talent in this manner. Existing workers already have domain knowledge and business loyalty. In certain circumstances, teaching them technical skills may be more beneficial than bringing outsider specialists. Moreover, to bring up to speed on your organization’s unwritten understanding.

Develop a process to find internal candidates interested in and capable of contributing to your IA transformation. Indeed, arrange communities, games, and contests that test the needed or relevant abilities. That is to say, give speeches and seminars on automation-related themes from external specialists.

Your Employees and Automation

The mindset of your whole staff has a significant influence on the continuing success and impact of your IA transformation.

Do your most junior employees regard intelligent automation as a danger that will replace them and force them out of the workforce? Or do they view it as a chance to supplement and strengthen themselves while freeing up time to focus on creative or relationship work?

The appropriate approach to training and education may lead to widespread adoption of automation inside a corporation. The road ahead will be considerably easier if your human staff accepts and works with your digital workforce rather than against it.

Employees totally on board with automation may even be encouraged to seek out chances for further automation in their day-to-day duties. Although very few whole professions are automatable, many jobs have a significant number of automatable activities. Your employees are the experts on what they do daily. They are in the best position to identify these automatable tasks in their work. Indeed, they learn what types of jobs lend themselves well to automation. They may even help train and develop the automation programs that will become their assistants using low-code and no-code technologies. This may enable individuals to become authors of the change and aid in integrating IA into your organization’s culture.

You can extend the capacity beyond the limited number of highly experienced individuals. Using your CoE, this democratization of IA may also boost your IA transformation’s scope, pace, and effect.

Everyone benefits if your employees realize that automation may free them from arduous and repetitive jobs. IA allows them to undertake more meaningful, higher value-add work that raises their market worth. Your business acknowledges and rewards this.

The post Intelligent Automation: It’s All About Your People appeared first on SmallBizTechnology.

In fact, the entire field of online marketing wouldn’t exist if it wasn’t for technology. But up until recently, most of the tech influencing marketing was simply a tool. A human had to decide how to use that tool, what it should do, and how it should function.

Recently, that has begun to shift.

Artificial intelligence has started to find applications in the marketing world. While it’s still very much in its infancy, AI is quickly becoming a popular option for many marketing activities — if you know how to use it.

The Benefits of AI in Marketing

Before considering specific applications of AI in marketing, it’s worth taking a minute to lay out why a marketer should consider doing so in the first place. After all, marketing is a business activity. As such, marketers should only apply technology if it has a specific (and profitable) outcome.

So, how does AI benefit marketing? To properly understand that, it’s important to differentiate the concept of artificial intelligence from other forms of modern technology. For instance, things like data collection and automation aren’t necessarily AI.

According to Demis Hassabis, the CEO of Google’s AI acquisition DeepMind, AI is the “science of making machines smart.” In other words, when you give technology the ability to make decisions based on the information that it’s given, it becomes artificial intelligence.

Marketers can apply technology that doesn’t just operate digitally but can perform tasks and functions on its own. When they do, it has a number of powerful benefits.

• AI can have a dramatic effect on the efficiency of an organization. Activities can be truly outsourced and left for computers to handle.
• The use of AI can also impact the quality of your work. It does this by maintaining strict standards and providing a sense of consistency and predictability to your outcomes.
• AI has proven itself capable of lead generation. It accomplishes this through things like increasingly sophisticated chatbots and virtual assistants.

From efficiency to quality to lead generation, AI can have a big impact on how effective a marketing campaign can be. One question still remains, though. How can you incorporate AI into your marketing strategy to start benefiting from these advantages?

How to Use AI in Marketing

AI is an exploding field. As such, it can take a little bit of work to uncover its most beneficial applications in an area like marketing. Nevertheless, there are plenty of ways that AI can make a difference.

Here are two of the best areas to explore. Start here to discover the various ways that AI can impact your marketing strategy in the months ahead.

Use AI in your content.

Make no mistake, AI isn’t at the point where it can flawlessly mimic a human’s inherent creativity. Nevertheless, it is still possible to employ AI when it comes to creating content. This is especially true if you find that you’re generating things that are more mundane and have a predictable format.

For instance, consider MarketMuse, a company that develops AI-powered content optimization tools. They point out that popular online publications are already using AI “in various low-level ways.” They also add that companies often do this with data-heavy content that tends to follow a highly structured format.

Nevertheless, the opportunity to use AI to create content is certainly becoming a reality. Not only that, but its growing capabilities can apply to content creation. This works in many different ways, from machine learning to automated reasoning, and beyond.

Use AI with your data.

Data and analytics are already one of the most powerful ways to apply technology in marketing.

However, adding AI into the mix can create a synergistic effect. According to the marketing text and analysis tool Monkey Learn, “Using AI-guided systems in your data analysis allows you to automatically clean, analyze, explain, and ultimately visualize your data.”

This application of AI can transform multiple areas of your marketing. For instance, by applying artificial intelligence to your current marketing data, you can identify gaps and issues. Addressing problems is suddenly much faster and simpler.

In addition to cleaning up problems, AI-driven data analysis can help you find potential opportunities.

This can come from areas that you thought were successful but still have more room for growth. It can also come from completely new considerations that you wouldn’t have been aware of without a thorough analysis of your data. You can even use this kind of data analysis to help you better understand your customers and create more effective buyer personas.

The time to embrace AI marketing is at hand.

Using tech in marketing is nothing new. However, many marketers are still cautious about the idea of applying artificial intelligence.

This hesitation may have been warranted in the past when AI was still too underdeveloped to help in the high-pressure marketing world. But the situation is changing as AI continues to increase its capabilities and more third-party software solutions incorporate AI into their tools.

All that remains is for marketers to find the tools that can help their particular situation and then create a strategy that allows them to tap into the powerful benefits of AI. This shouldn’t be done five or ten years in the future, either. It’s time to start right in the here and now.

The post How to Use AI Within Your Marketing Strategy appeared first on SmallBizTechnology.

According to a September 2018 World Economic Forum study, more than half of the work done worldwide by 2025 will be completed by some form of automation technology. In some fields, that tipping point will come even sooner: Information technology and data processing, for instance, is on track to reach the more-automated-than-human mark by 2022. 

While 2022 might sound a long way off, the truth is that workflow automation software is already taking on remarkably human roles. Today, automation conducts one-fifth of business decision-making as measured by task hours, the World Economic Forum report claims. By 2022, that ratio will be close to one-third.

The report also notes, however, that there are broad disparities in automation’s applications. While some enterprises use it for everything from data entry to recruiting to content creation, others have yet to touch it at all.

Automation for All

Fortunately, no matter where your company lies on that spectrum, there are four ways in which it can start or strengthen its application of automation:

1. Kick busywork to the curb.

Every industry, company, and role involves a certain amount of rote work. Although some, like data entry, are obvious targets for what’s called robotic process automation, others may not be so clear-cut. Government agencies like NASA, for instance, use RPA to “read” budgets and distribute funds between offices. In the next five to seven years, a Deloitte report found, such RPA applications could save the federal government 1.1 billion working hours per year — or around $37 billion annually.

But it’s not just the public sector that sees the sense in RPA. Email automation provider Mixmax’s latest suite of tools, known as “Mixmax 2.0,” features Beast Mode, a task automator that customer-facing roles at enterprise companies use to efficiently complete batches of tasks. In a press release, Mixmax CEO and co-founder Olof Mathé described Mixmax 2.0 as a broadside against busywork: “Our goal with Beast Mode, Dialer, and Auto Create is singular: empower business users to focus on their jobs.”

2. Do more with data visualization.

To focus on their jobs, however, business users need a clear picture of where opportunities lie. Again, automation has an answer, or at least a partner: exploratory data analysis. In a nutshell, EDA is the process of using algorithms to point out patterns, identify anomalies, and check assumptions through graphical representations. Although EDA can visualize “fun” issues, like who’s actually the main character in the television show “Friends,” its business applications are almost endless.

“At the very least,” argues Dino Fire, president of market research and analytics at datadecisions Group, “the EDA may reveal aspects of your company’s performance that others may not have seen.” For newer users, Fire suggests using a logistic model for a new take on customer segmentation. By ingesting customer data like net promoter score, purchasing behavior, and demographic variables, logistic models can show similarities between the company’s most satisfied customers and predict whether unscored customers are satisfied.

3. Create an automation center.

Data analysis, however, is one small area in the vast landscape of business automation. To keep up with the ballooning number of types and tools, four in 10 enterprises will have created automation centers by the end of this year, according to Forrester’s Predictions 2019 report. The point of these platforms, Forrester vice president and principal analyst J. P. Gownder explains in his report analysis, is to align the right automation solution with the right use case.

Although choosing a tool to complete a task might seem simple enough, Deloitte’s “Automate This” report makes clear it’s not. Two types of automation the report explores, for example, sound awfully similar: robotic process automation and intelligent automation. In fact, their use cases are practically opposites; RPA tools can tackle methodical, routine tasks at a relatively low implementation cost. IA ones, on the other hand, are for narrow, non-routine tasks that require thoughtful consideration and involve steep startup costs.

4. Integrate AI with other technologies.

Enterprises don’t use RPA, IA, or any other AI tool in a vacuum. As companies become more comfortable with AI, digital transformation expert Daniel Newman predicts, they’ll combine AI technologies with others in increasingly complex and valuable ways. “Convergence should be a top priority for leaders across industries everywhere,” Newman stresses.

Take, for example, how the oil and gas industry has paired AI with Internet of Things technology. By using machine learning to analyze data gathered by IoT sensors, operators can diagnose malfunctions, predict part failures, and optimize pump performance. Not only does the system reduce downtime and increase output, but it improves worker safety and decreases the possibility of environmental disaster.

Artificial intelligence might seem like it’s years away from its professional prime, and it certainly may be. But while automatons aren’t walking around most workplaces yet, AI is making its mark in more subtle, software-centric ways. By freeing workers from routine work, identifying hidden opportunities, and optimizing existing processes, AI is charging toward a tipping point that employees and employers alike should welcome.

The post The Tipping Point of Automation Is Coming. Here’s How to Stay on the Leading Edge appeared first on SmallBizTechnology.

According to Webopedia, predictive analytics, is  “the practice of extracting information from existing data sets in order to determine patterns and predict future outcomes and trends. Predictive analytics does not tell you what will happen in the future.”

Every business can leverage the power of predictive analytics, artificial intelligence and machine learning to help them make smarter decisions and faster decisions. While you can’t spend billions of dollars to do this for your company, you can rely on companies such as Intuit, NetSuite, Salesforce, SAP and Microsoft who embed these “smarts” into their software products to help make your business smarter.

The post UPS Is Using Predictive Analytics. Here’s What Your Business Should Do Says Ramon Ray appeared first on SmallBizTechnology.