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Tag: AI Solutions

  • How Marketers Can Stay Irreplaceable in the AI Era | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Most major marketing shifts don’t announce themselves with a press release; they strike with a shock that scatters the chessboard. I witnessed this firsthand during the dot-com boom — a tectonic event that substantially rewired my profession.

    And yet, the disruption we face today from artificial intelligence represents a shift of even greater magnitude. It isn’t simply a new tool; it feels more like an extinction event for an entire way of working. As a result, the professional environment is changing at breathtaking speed, and for marketers, the choice is the same as in nature: adapt or disappear.

    The split creates two paths. One leads to obsolescence, where marketers cling to tasks machines now execute better and faster. The other leads to enduring relevance, where the human skills of strategy and orchestration will define the future of the industry.

    Related: How to Turn Your ‘Marketable Passion’ Into Income After Retirement

    The paradox of infinite output

    The first casualties of AI are the very functions we once considered core to our daily work, such as ad production, content creation and analytics reporting. Any task that follows a predictable loop is now on the path to automation. But here lies the paradox: as the cost of content creation plummets to zero, so does its strategic value. We are hurtling toward a future saturated with infinite, interchangeable output. A sea of sameness.

    And the backlash to this future is already visible. Consumers are proving masterful at tuning out formulaic messaging, and their innate “spidey sense” for spotting bot-generated content is only becoming more acute.

    This powerful human response means the very tools designed to make marketing more efficient now risk making it entirely invisible. Infinite output creates zero distinction — a battle that these machines, for all their power, are unequipped to win.

    Related: AI Has Limits — Here’s How to Find the Balance Between Tech and Humanity

    The rise of the ‘Human Choreographer’

    But this is precisely where human marketers will reassert their value. In a world where anyone can generate an ad, the advantage shifts from making to meaning. AI, for all its brilliance, lacks true sentience. This reveals itself in AI’s inability to grasp the why behind the what. It can execute a step flawlessly, but it doesn’t know which dancers to put on stage, what music fits the moment, or how the performance should make the audience feel.

    Therefore, the marketer of the future must evolve from an operator into an orchestrator — a human choreographer who shapes culture, senses customer emotion and navigates organizational nuance that machines cannot even see. This new role rests on three irreplaceable pillars that form the unautomatable core of modern marketing leadership:

    1. Discernment: AI can generate a hundred options, but much of it is derivative or even hallucinated. The human edge is judgment — distinguishing signal from noise, knowing when to act and when to wait. In an age of abundance, value doesn’t come from more ideas; it comes from the human ability to filter, prioritize and place the right bet.
    2. Empathy: At its core, marketing is about building relationships, and brands are built on trust. A machine can analyze sentiment, but it cannot grasp the unspoken emotional cues that forge genuine connections. This single deficiency is what elevates empathy to the ultimate currency of brand loyalty in a world of automated messages.
    3. Creative leap: AI predicts by extrapolating from the past. But the most powerful ideas that reshape cultures come from breaking patterns altogether. This leap of imagination, the spark that reframes a category or captures the zeitgeist, still belongs uniquely to the human mind.

    Taken together, these three pillars of discernment, empathy and creativity are what allow human leaders to create meaning in a world of automated noise. But possessing these skills isn’t enough. To remain essential, marketers must prove their value in the only language the business understands: impact.

    Related: How AI is Reshaping Work While Reinforcing the Need for Leadership, Empathy, and Creativity

    Redefining the scorecard for success

    For too long, marketing has hidden behind the comfortable shield of vanity metrics — endless charts of impressions and clicks, along with creative awards that mean little to the C-suite. These outcomes may comfort us, but they don’t convince anyone holding the purse strings. My litmus test is simple. Could I put this metric in front of my CFO and have them immediately grasp its connection to enterprise value?

    Answering that question forces an overhaul of our dashboards, anchoring our performance to the metrics that truly matter:

    • Customer Economics: A clear view of customer acquisition cost (CAC), lifetime value (LTV), and retention.
    • Revenue Contribution: Tracking qualified demand that converts into pipeline, not just raw lead volume.
    • Brand as an Asset: Measuring growth in awareness, preference and trust as leading indicators of future success.

    By aligning our work with these measures, marketing transforms from overhead into an undeniable engine of growth.

    Related: How to Tell If Your Marketing Is Driving Real Business Results

    The marketing department, reimagined

    The next wave of marketing won’t be defined by disappearing roles as much as emerging ones. The most forward-thinking organizations are already reinventing their teams with new specialities, such as: AI Prompt Architects who master the art of shaping models, Ethics and Trust Stewards who safeguard brand credibility and Integration Orchestrators who fuse data science and creativity into a cohesive story.

    Ultimately, the result will be a department with fewer executors and more choreographers. The marketing team of the future sheds its skin as an assembly line to become more of a control tower for growth and customer experience.

    The leaders who thrive will be those who evolve beyond traditional marketing to become choreographers of meaning, trust and growth. For them, adaptation isn’t optional — only the speed of transformation is.

    Most major marketing shifts don’t announce themselves with a press release; they strike with a shock that scatters the chessboard. I witnessed this firsthand during the dot-com boom — a tectonic event that substantially rewired my profession.

    And yet, the disruption we face today from artificial intelligence represents a shift of even greater magnitude. It isn’t simply a new tool; it feels more like an extinction event for an entire way of working. As a result, the professional environment is changing at breathtaking speed, and for marketers, the choice is the same as in nature: adapt or disappear.

    The split creates two paths. One leads to obsolescence, where marketers cling to tasks machines now execute better and faster. The other leads to enduring relevance, where the human skills of strategy and orchestration will define the future of the industry.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

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    Jason Greenwood

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  • This AI Creation App Is on Sale Now Through Christmas | Entrepreneur

    This AI Creation App Is on Sale Now Through Christmas | Entrepreneur

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    Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

    Content has long been king, and being able to explore and create with new tools can be exciting and valuable for professional creators and hobbyists alike. That’s why this AI-driven creation platform could make for a fantastic last-minute holiday gift for anyone in your life. Through December 25th, this lifetime subscription to vidBoard Creative AI Presenter is on sale for just $39.99 (reg. $420) with code VIDBOARD.

    vidBoard uses the power of generative AI to help improve videos and the production process for creators of all backgrounds. With a subscription, a user can automatically generate original digital avatars to complement and improve video content. vidBoard also comes with features for automating AI transcription writing, AI voiceovers, and more. Billed as an “all-in-one solution for seamless video production,” vidBoard can be a content improver, time saver, and money saver, too.

    It can generate HD videos that have a professional look with human-led presenters. It also supports video creation and transcription services inmore than 125 languages. Users can get a good starting point with any of the many pre-designed templates available on the vidBoard platform as well.

    Discover why this AI-driven video-production and presentation-creation app has earned a 5/5-star rating on Product Hunt and a 4.7/5-star average rating on Trustpilot. Also, consider gifting this to someone for the holidays while it’s on sale; you won’t have to worry about waiting for shipping or anything like that.

    Through December 25 at 11:59 p.m. PT only, this lifetime subscription to vidBoard Creative AI Presenter is on sale for just $39.99 (reg. $420) with code VIDBOARD.

    Prices subject to change.

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    Entrepreneur Store

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  • 3 Ways AI is Revolutionizing Ecommerce | Entrepreneur

    3 Ways AI is Revolutionizing Ecommerce | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In my work with ecommerce, I’ve seen AI evolve from a buzzword to a core part of business strategy. It’s not just about automating processes anymore; AI is reshaping how we interact with customers, manage inventory, and even handle customer service.

    In this article, I’ll share three critical ways AI transforms ecommerce: personalized shopping experiences, efficient inventory management and advanced customer service solutions. These aren’t just trends; they’re real applications of AI that are changing the game for ecommerce businesses today.

    Related: AI Is Coming For Your Jobs — Anyone Who Says Otherwise Is In Denial. Here’s How You Can Embrace AI to Avoid Being Left Behind.

    1. AI-powered personalization

    AI’s role in personalizing ecommerce experiences is incredibly specific and impactful.

    For instance, machine learning algorithms can create predictive models based on customer data such as purchase history, search queries and page views. These models are about displaying products a customer has viewed and anticipating future needs and preferences.

    Implementing this starts with data collection.

    For a small ecommerce site, this could involve using tools like Google Analytics to gather customer interaction data, and then applying machine learning algorithms through platforms like TensorFlow or IBM Watson to analyze this data.

    Here’s a practical step: integrating a recommendation engine on your site. These engines use AI to suggest products to customers.

    For example, if a customer frequently buys or views sports equipment, the engine will recommend related products like fitness accessories or sportswear. This isn’t random; it’s a calculated suggestion based on their behavior.

    Moreover, AI can dynamically adjust the content of marketing emails based on customer behavior. For example, if a customer often buys products on sale, your AI system can prioritize discount offers in their emails. This level of personalization is made possible by AI’s ability to process and learn from data at a scale no human team could manage.

    This approach doesn’t just increase sales; it builds a more personal connection with customers, making them feel understood and valued. It’s a powerful way for startups to stand out in the crowded ecommerce space.

    Related: 5 Ways the AI Revolution Can Help Your Ecommerce Business

    2. AI in inventory and supply chain management

    AI dramatically changes the game in managing ecommerce inventory and supply chains. It begins with predictive analytics — AI algorithms can forecast product demand based on various factors like seasonality, market trends and past sales data. This means we can stock inventory more accurately, avoiding overstocking or stockouts.

    For practical implementation, consider using AI tools for demand forecasting. Platforms like Blue Yonder (formerly JDA Software) can analyze sales patterns and predict future demand. This isn’t guesswork; it’s about using historical data to decide what to stock and when.

    Another area where AI excels is in optimizing the supply chain.

    For instance, AI can suggest the most efficient routes for product delivery or identify potential supply chain disruptions before they become critical issues. The real-time application of AI in inventory and supply chain management isn’t just about efficiency; it’s about being proactive rather than reactive.

    By leveraging AI, ecommerce businesses can reduce costs associated with excess inventory or expedited shipping, ultimately improving their bottom line. This is crucial for startups where every resource counts, and maintaining a lean operation is key.

    3. AI-driven customer service and support

    In ecommerce, AI is revolutionizing customer service by automating and personalizing interactions. A prime example is chatbots. These AI-driven tools can handle a range of customer queries in real time, from tracking orders to answering product-related questions. They learn from each interaction, becoming more efficient over time.

    Integrating a chatbot into your website or social media platforms is a great start for a startup looking to implement this. These tools allow you to set up AI chatbots to guide customers through your site, provide product recommendations, and even handle basic support tasks.

    Beyond chatbots, AI can also help personalize customer support. For instance, AI can analyze a customer’s purchase history and interaction to tailor support responses. If a customer frequently buys a particular product type, the AI can provide more targeted assistance related to that product category.

    Implementing AI in customer service isn’t just about efficiency; it’s about enhancing the customer experience. Customers get faster, more relevant support, leading to higher satisfaction. For startups, this means an opportunity to build stronger relationships with customers without the need for a large customer service team, making it a practical and impactful application of AI in ecommerce.

    Related: AI Is Poised to Change How We Shop: Here’s What You Need to Know

    Conclusion

    By embracing these AI strategies, startups can transform their ecommerce ventures. Personalizing shopping experiences through predictive models helps connect with customers on a deeper level.

    Efficiently managing inventory using AI forecasting tools like Blue Yonder ensures resource optimization. Meanwhile, customer service is revolutionized by integrating AI chatbots from platforms such as Drift, enhancing customer interaction and satisfaction.

    These strategies are not just futuristic concepts; they are accessible technologies that can be implemented now. For startups in the ecommerce space, adopting these AI-driven approaches is not just about staying competitive; it’s about setting a new standard in customer experience and operational efficiency.

    The world of ecommerce is evolving rapidly, and AI is at the forefront of this transformation. By leveraging AI’s potential, startups can unlock new levels of success and sustainability in the digital marketplace.

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    Mohamed Elhawary

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  • 3 Practical Ways AI Can Work for You | Entrepreneur

    3 Practical Ways AI Can Work for You | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    The parabolic growth of accessible AI tools has intriguing implications for businesses. Analysts imagine that generative AI, for example, will have a massive impact on productivity across multiple business functions. Many organizations are scanning the horizon for a long-term AI-fueled transformation, eager to make the most of bullish CAGR projections. And while leaders mustn’t lose sight of long-term goals, staring out too far into the future may be overwhelming — distracting, even.

    Rather than redesign their business’ entire approach just to meet AI somewhere along the horizon, leaders can instead take a more practical route and ask how AI can improve their current strategy. Can AI accelerate current tactics? Can it help teams do things better? Can it help organizations reach their goals with less overhead? The answer, especially regarding product, customer success and internal processes, is overwhelmingly “yes.”

    Related: The Robots Are Coming — But They Can’t Outsmart Us When It Comes To This Particular Skill.

    Product teams can let AI do the legwork for them

    AI’s impact on product development begins with the nitty gritty. Generative AI tools like ChatGPT can help teams with everything from documentation to marketing briefs and website content. My team has leveraged AI for these very purposes, letting AI rewrite code into additional languages once we create the initial sample code. Humans are still an essential part of the process, but AI helps provide a kickstart.

    Tech companies have taken AI a step further, embedding it into their products. AI represents both a tremendous opportunity and a threat for security solutions providers. Bad actors have new tool sets that enable them to create more sophisticated attacks faster and more intelligently. Cyber product teams use the same tools to defend against emerging threats and offer in-product help to ensure their customers are more productive, better informed and ultimately satisfied with the experience.

    Non-tech companies should be thinking about the experience around their products, and, indeed, many are. Car manufacturers use AI to enhance their collision-detection systems. Healthcare solutions providers embed AI in their diagnostics and imaging products. Nike uses AI to power its product personalization efforts.

    AI helps customer teams create responsive, tailored experiences

    Customer-experience chatbots have been around for a long time, but concerns about data privacy, unnatural language and unhelpful results have kept them from becoming ubiquitous. Recent advancements have helped fine-tune chatbots such that they can answer questions more efficiently and accurately than a support desk person. AI-enhanced chatbots have helped transform these experiences from feeling like an impersonal human replacement to a better and more responsible customer experience, yet some consumers are still wary. Most will use chatbots, provided there is always an option to transfer to a live agent.

    Chatbots aren’t the only way organizations can infuse their customer experience with AI. Many companies effectively employ powerful data analytics, feeding valuable purchase and customer data into algorithms that help create ever-evolving seamless, personalized omnichannel experiences – think about how Spotify recommends new songs based on listeners’ history and allows them to switch from one device to the next easily.

    AI allows everyone to escape process mundanity

    For both product and customer experience teams, much of the AI magic happens behind the scenes. Chances are those teams are also using intelligent tools to automate workflows and speed up processes so that people can do their jobs more effectively. Teams for nearly any business function can use AI to do everything from creating images for a slide presentation to drafting website content and writing documentation.

    Leaders interested in process-focused AI can begin by asking, “How can AI help deliver a product or service more effectively?” and “What are we spending time on that AI could/should be doing?” By leaning into existing tools, such as those that Microsoft, Google and OpenAI provide, organizations can simplify mundane tasks involved in creating documents, spreadsheets and slide decks to free up their workforce for more creative and mission-critical work.

    Related: Automation Is Becoming a Business Imperative: Don’t Wait Until It’s Too Late

    AI: the ultimate means to achieving business goals

    On my product management team, we’re exploring all facets of our roles and asking ourselves how AI can help us spend more time analyzing information instead of gathering and summarizing it. This approach has been a tremendous shortcut for some components of our research and is a helpful way to think about AI as it relates to our company’s trajectory. When we ask how AI can help us fulfill our goals, we stay focused rather than become distracted navigating to some nebulous AI-enabled future along the horizon.

    Making AI work for us — not the other way around — is also a useful reminder that modern intelligent tools aren’t here to replace employees. In fact, a human in the loop is critical, regardless of AI’s application. Product teams must validate AI’s documentation; customer experience teams need to review modeling output for errors and continue to interact with customers when the time comes.

    The next time you make a decision about AI, remember that it is just a practical means to achieving business goals and not the end goal in and of itself.

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    Jason Oeltjen

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  • Why You Shouldn’t Be Afraid of Artificial Intelligence | Entrepreneur

    Why You Shouldn’t Be Afraid of Artificial Intelligence | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    People have shown concern and fear over the representation of Artificial Intelligence (AI) in science-fiction films. Still, the actual state of artificial intelligence differs from the dark visions presented on television. In reality, AI can enrich human lives in an array of aspects.

    This article aims to understand the strength of AI and emphasize the numerous advantages it gives both entities and individuals. So, let us examine the fascinating topic of artificial intelligence to find out why we shouldn’t be frightened.

    Related: The Robots Are Coming — But They Can’t Outsmart Us When It Comes To This Particular Skill.

    Understanding AI’s potential

    Artificial Intelligence is, at its fundamental level, a field of computer science that focuses on producing intelligent computers capable of performing things that usually require human intelligence. AI systems can acquire knowledge from data, detect patterns and alter their responses appropriately, from straightforward calculations to more complex decision-making processes.

    The real power of AI lies in its capability to reclaim vast quantities of data at unknown speeds. This enables AI to identify perceptivity and make assumptions that would be unattainable for humans to achieve individually. This data-driven approach provides significant advantages across various industries, leading to further informed decision-making, enhanced effectiveness and increased productivity.

    Here are 6 ways to capitalize on and utilize AI.

    Related: The Human Touch: What It Takes To Maintain Meaningful Client Relationships In A World Driven By Artificial Intelligence

    1. Enhanced customer experience

    AI enables businesses to better understand their clients by dissecting their preferences and actions. This precious perception allows for personalized product recommendations, the deployment of chatbots for instant customer support and the integration of AI-driven virtual assistants to produce a flawless and engaging client experience.

    Related: What AI Can Do To Engage With Customers

    2. Data analysis and insight

    AI’s data processing capabilities allow it to sift through mountains of information, associating trends and patterns that human critics might miss. These perceptive skills help businesses optimize their operations, predict market trends and tailor their marketing strategies for maximum effectiveness.

    3. Automating repetitive tasks

    Routine and repetitive tasks can be fluently automated through AI, allowing workers to concentrate on further creative and strategic activities. This results in a more engaged and satisfied workforce, driving invention and growth within associations.

    4. Optimized supply chain

    AI-driven algorithms can optimize supply chain operations, reducing supply costs and ensuring timely deliveries, even in complex global logistics networks. This enhanced effectiveness leads to significant cost savings and improved client satisfaction.

    Related: AI-Based Approach To Make the Supply Chain More Sustainable

    5. Improved healthcare

    The application of AI in the medical field is to improve diagnosis accuracy, medicine discovery, and patient care. AI-driven medical imaging and diagnostics lead to earlier disease discovery and further effective treatments, eventually saving lives and perfecting the overall quality of healthcare.

    6. Empowering individuals with AI

    AI’s impact goes beyond corporate employment and extends to enhancing the lives of individuals in multiple ways.

    • Personalized learning: AI-powered educational platforms can customize education materials based on individual strengths and demerits, ensuring a more effective and customized education experience for students of all ages.
    • Assistive technologies: AI-driven assistive technologies are making a significant difference in the lives of individuals with disabilities. These technologies enable better communication, navigation, and independent living, promoting inclusivity and attainability.
    • Smart home automation: AI-enabled smart home devices simplify day-to-day tasks such as managing energy use, adjusting lighting, and handling routine chores. This leads to increased convenience and promotes energy effectiveness and sustainability.
    • Language translation: AI-powered translating tools break language barriers, smoothing cross-cultural communication and understanding. This fosters a more connected and globalized world.

    Five practical ways to embrace aI

    Embracing AI doesn’t mean we should sweat it or unquestioningly accept every perpetration. Instead, we can take a visionary approach to maximizing its capabilities.

    1. Stay Informed: Continuously educate ourselves about the latest AI developments and understand how they can be applied in our industries or day-to-day lives. This knowledge empowers us to make informed decisions and harness AI’s capabilities effectively.
    2. Unite with AI: Rather than seeing AI as a threat to job security, view it as a partner that can amplify our capabilities and productivity. Working alongside AI can lead to new openings and inventions.
    3. Nonstop Learning: Invest in AI-related proficiency and knowledge to remain applicable in an AI-driven world. Numerous online courses and resources are available to learn about AI execution and its operations. By upskilling, we can stay ahead in our careers and contribute meaningfully to the AI revolution.
    4. Trial with AI Tools: Do not hesitate to try AI-driven operations and tools that can streamline your tasks, enhance decision-making, and save time. By embracing these tools, we can increase effectiveness and productivity in our personal and professional lives.
    5. Ethical Considerations: Advocate for responsible AI development and operation. It’s essential to ensure that AI technologies stick to moral norms and are used for the betterment of society. Addressing implicit impulses, promoting transparency, and safeguarding privacy are critical aspects of ethical AI.

    Conclusion

    Artificial Intelligence holds tremendous capability to transform industries and empower individuals. By staying informed, uniting with AI, continuously learning, experimenting with AI tools, and considering ethical accusations, we can confidently embrace AI and embark on a more intelligent and prosperous future. As we seize the chances presented by AI, let us remember that we hold the reins, and with responsible accomplishment, AI can truly become an important force for good in our lives and society. So, let’s confidently embrace the future and make the most of this inconceivable technology.

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    Kartik Jobanputra

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  • Is All This AI Hype Worth It? | Entrepreneur

    Is All This AI Hype Worth It? | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Some 63% of respondents at organizations using AI said they expect to see their investment in the technology rise over the next three years, according to a 2022 report on the state of AI. That stat is especially noteworthy considering the report’s release last December predated OpenAI’s global launch of ChatGPT. At the time, 52% of organizations spent 5% or more of their digital budgets on AI.

    While most CEOs and CTOs understand AI can boost productivity, simply deploying an AI tool doesn’t guarantee greater efficiency or that the customer experience will be enhanced—and it certainly doesn’t automatically translate into a fatter bottom line.

    But amid the heightened excitement and intrigue — plus a fair amount of FOMO — businesses and organizations across all industries will undoubtedly begin their AI transformations. Or, in many cases, they’ll tack on additional miles to an ongoing AI journey. The problem here is an AI inequality gap that has been manifesting for several years, as the McKinsey report highlights.

    As with any economic phenomenon, the losers tend to outnumber the winners. An estimated 8% of these organizations show an inflated bottom-line impact due to AI adoption—represented by a 20% growth in EBIT (earnings before interest and taxes).

    There’s certainly a middle class of businesses leveraging AI to the effect of modest growth. Still, when reviewing results from a recent Altair survey, it is clear a sizable percentage of organizations’ AI projects simply fail to produce results. In the past two years, one in four respondents reported that more than 50% of their AI projects failed, 42% admitted to a failed AI experience within the last two years, and 33% claimed more than half of their data science projects never made it to production in the last two years.

    Let’s be clear: These numbers don’t discredit AI technologies or use cases. Instead, they point to serious obstacles that make launching an AI initiative difficult.

    What can organizations with successful AI projects teach us, then? First off, these organizations typically adhere to a consistent set of core practices. At the center of these practices is something that seems obvious from the outside looking in but is often overlooked by organizations underestimating the amount of attention required to leverage most AI tools successfully. And this is integrating AI into the overall business strategy.

    Related: The Robots Are Coming — But They Can’t Outsmart Us When It Comes To This Particular Skill.

    Without aligning AI strategy with the overall business model and desired outcomes, any project would start on the wrong foot. AI isn’t just something you can plug into your existing infrastructure and expect immediate results. Critical decision-makers must deeply understand everything from long-term roadmaps to every aspect of their digital ecosystems.

    As such, all organizations must devise a strategic plan on how and why they plan to leverage AI. This includes assessing the structural changes they must make in their digital ecosystem and business model. If this task seems overwhelming, organizations can turn to third-party consultancies or agencies to guide them. Keenfolks, for instance, helps Fortune 500 companies strategically integrate various AI tools, enabling them to create their own data sets, algorithms and proprietary technology.

    While these types of consultancies help businesses make more intelligent decisions or streamline the integration process, organizations can also boost their chances of success by identifying any readiness gaps. These typically relate to the lack of a comprehensive data strategy, which could range from the lack of data scientists to poor data quality or an ineffective data collection system.

    Related: 11 Marketing Trends That We Think Will Not Go Away Anytime Soon

    Organizations lacking data scientists typically pick the wrong algorithms and solutions and struggle to deploy models effectively. Bad data or poor collection methods stifle AI models’ performance, wasting valuable time and resources and discouraging future AI ventures.

    Addressing these gaps requires a data strategy that understands the type of data needed for AI projects and establishes mechanisms to collect the most relevant data. Additionally, it’s crucial that the data is clean to ensure accuracy, integrated from various sources, and that the organization establishes clear policies and protocols that prioritize security and privacy.

    Addressing this requires adding more experienced personnel with AI expertise and upgrading its data infrastructure, including processing power and cloud-computing capabilities.

    Businesses fully understand what AI can offer, but to ensure a successful AI initiative requires their leaders to treat AI as a pillar of their entire organizational structure. Understanding AI’s challenges and developing a strategic plan of action that considers the whole company’s assets is a good starting point.

    Related: Does AI Deserve All the Hype? Here’s How You Can Actually Use AI in Your Business

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    Ariel Shapira

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  • 5 Areas Where Every Business Should Be Using Cognitive AI Today | Entrepreneur

    5 Areas Where Every Business Should Be Using Cognitive AI Today | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Artificial intelligence (AI) has made significant advancements recently, with AI systems driven by perceptual intelligence already being utilized to varying degrees in many industries. However, perceptual intelligence is not everything. In fact, the true potential of AI lies in cognitive intelligence, and there are still big challenges to overcome on that front.

    That being said, cognitive AI offers many opportunities and has the potential to revolutionize industries by enhancing the efficiency, precision and user-friendliness of processes and services. But, since this field is constantly evolving, adoption is still lacking.

    However, to truly maximize the potential benefits of cognitive AI, companies need to implement it and start building domain-specific, highly relevant databases. And there are many areas where AI is already gaining significant traction. Here are five key areas where every company can leverage cognitive AI’s power.

    Related: Nearly 3 out of 4 Marketing Professionals Use AI to Create Content, New Study Shows

    1. Generating insights through automated data analysis

    The global data volume being created annually is expected to reach around 175 zettabytes to 180 zettabytes by 2025. With such a copious amount of data being created and processed each year, companies are, unsurprisingly, inundated with vast amounts of information they have to process. This data can be challenging to interpret and utilize effectively.

    Since cognitive AI excels in data analysis, companies implementing a cognitive computing system can easily derive valuable and accurate insights from complex datasets, enabling faster data-driven decisions. Businesses can also leverage machine learning algorithms and cognitive computing to identify trends and patterns while keeping costs low efficiently.

    Domain-specific databases are crucial for this since they provide relevant data that is tailored to specific industries or sectors, including structured and unstructured data. This enables AI systems to learn based on domain-specific knowledge, leading to more accurate and actionable insights.

    2. Enhancing cybersecurity and preventing fraud

    As the digital landscape constantly shifts, digital threats also continue to evolve. Further, with data taking up such a prominent spot in today’s world, the legislative landscape is also ever-changing. Data privacy and protection laws, like the GDPR, CCPA and the PIPL, have been passed around the globe and are constantly getting adjusted.

    Consequently, companies are faced with mounting challenges when it comes to data privacy and security. Cognitive AI offers a powerful defense mechanism against cyber threats due to its ability to analyze massive amounts of data in real time, enabling it to identify patterns of malicious behavior and predict potential security breaches. Additionally, it can help companies adapt and adhere to changing regulations.

    The global market for AI-based cybersecurity products amounted to roughly $15 billion in 2021, and it is forecast to reach a value of around $134 billion by 2030. With cyberattacks on the rise, the advanced protective capabilities of cognitive AI are now necessary to protect consumer and corporate data.

    Related: 4 Simple Ways To Leverage AI Skills For Passive Income From Home

    3. Onboarding and managing employees

    Employee onboarding, training and management are essential tasks that cognitive AI can greatly enhance. By streamlining and automating these processes, companies can free up valuable time for their human resources departments to develop and implement more efficient strategies.

    With cognitive AI, companies can identify top talent and match candidates with job requirements to improve the efficiency and effectiveness of onboarding, training and employee management. Additionally, it can be utilized to create personalized employee experiences, which can improve the productivity and satisfaction of employees.

    Related: How to Keep Employees Engaged and Productive in the Age of AI

    4. Cognitive AI to enhance customer engagement

    Customer engagement is crucial to any business, and cognitive AI can greatly improve the customer experience. For example, intelligent chatbots and virtual assistants can increase customer satisfaction and drive engagement by quickly and accurately analyzing customer queries, understanding context and providing personalized responses.

    Additionally, cognitive AI enables companies to offer real-time support at any time of the day while massively reducing wait times. Further, it can help streamline the experience by providing businesses with insights into consumer behavior to increase the efficiency of customer interactions in their contact and service centers.

    Not only does this increase customer engagement and satisfaction, but it also reduces support costs. According to Gartner, conversational AI alone will reduce global contact center costs by $80 billion in 2026. Xiao-I has already been enabling banks to build cheaper and more effective contact centers with its AI technology for nearly a decade.

    Cognitive AI is also increasingly being deployed to improve various finance services, such as algorithmic trading, asset management, or blockchain-based finance. Further, global IT spending by insurance companies on cognitive AI reached more than $570 million in 2021, representing a nearly 700 percent increase from 2016. So, not only is cognitive AI improving customer engagement, but it is also improving the services offered to consumers.

    5. Optimizing supply chain management

    Supply chain management is a complex process that involves numerous interconnected internal and external actors. Companies can utilize cognitive AI to optimize supply chain management through data analysis and process optimization.

    Cognitive AI can help companies optimize inventory management and reduce costs by predicting demand and improving supply chain visibility. Additionally, this technology enables businesses to adapt to changes in demand or supply quickly.

    With supply chains around the globe having been plagued with troubles in the past years, the implementation of cognitive AI in supply chain management is a good way to create more agile and resilient supply chains.

    Moving forward, and the future significance of data for AI

    Cognitive AI has the potential to reshape numerous industries by enhancing human capabilities and streamlining processes. While perceptual intelligence has seen significant progress and adaption, cognitive intelligence remains an ongoing pursuit.

    By leveraging cognitive AI in key areas, such as customer service, data analysis, cybersecurity, human resources and supply chain management, companies can unlock immense value and stay ahead in this fast-paced digital era. Among other things, cognitive AI can help companies achieve higher efficiency, accuracy and customer satisfaction.

    So, besides implementing cognitive AI, companies need to start building or acquiring databases that can be utilized for their specific needs. With continued advancements in the sector, embracing cognitive AI is a strategic imperative for companies that are looking to thrive in the digital age.

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    Hui (Max) Yuan

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  • How AI is Transforming SEO for Small Businesses | Entrepreneur

    How AI is Transforming SEO for Small Businesses | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Once upon a time, the SEO game was all about keywords and backlinks. The more you had of each, the higher your site would climb on the search engine results page. But boy, how the times have changed! Today, we’re standing on the brink of an AI revolution that’s flipping the script on SEO as we know it.

    Indeed, AI is whipping up a storm of transformations in the SEO world, and small businesses are finding themselves right at the heart of this tempest. In the fast-paced, ever-evolving realm of SEO, the old adage seems to be spot on: the only constant in life truly is change.

    These changes are not just cosmetic touch-ups or minor tweaks; they fundamentally alter how we approach SEO. It’s as if we’re explorers navigating uncharted territory in the vast landscape of digital marketing. And the compass guiding our way? Artificial Intelligence.

    AI is not merely a tool in this journey; it’s the vehicle driving us forward. It’s reshaping the roadways of SEO, constructing new bridges over the gulfs of user intent, and tearing down the old walls of keyword stuffing and link-spamming.

    And who’s in the driving seat of this transformation? Small businesses. Yes, it’s the small businesses, the underdogs of the corporate world, that are seizing the opportunities offered by AI, revolutionizing their approach to SEO, and taking their digital presence to new heights.

    Related: Why Combining Public Relations and SEO Will Propel Your Business in Today’s Digital Landscape

    Understanding AI in SEO

    Artificial intelligence is no longer the stuff of science fiction. It’s here, it’s now, and it’s making a big splash in the SEO pool. AI algorithms, like Google’s RankBrain, are changing the rules of the game, making it more about user intent and less about keyword stuffing.

    The shift from keywords to user intent — Long gone are the days of mindlessly stuffing your web content with keywords. Today’s AI-driven search engines focus more on understanding the user’s intent. They’re smart enough to read between the lines, understand the context and deliver results that best match the user’s needs.

    Personalization and predictive analysis — AI is taking personalization to a whole new level in SEO. By analyzing user behavior, AI can predict what a user is likely to search for next and serve them customized results. This level of personalization is a game-changer for small businesses looking to connect with their target audience.

    Machine learning and SEO — Machine Learning, a subset of AI, plays a pivotal role in SEO. Let’s delve into this fascinating world and see how it’s shaking things up. Machine Learning algorithms can study and learn from user behavior. This understanding allows search engines to deliver results that are more relevant and satisfying to individual users.

    AI and local SEO

    Local SEO is an incredibly critical aspect for small businesses. It’s all about ensuring that people in your local area can find you easily when they’re searching for services or products you provide. And guess what? AI is stepping up to the plate and making a real difference in this arena too.

    With the advent of AI, the rulebook for local SEO has been rewritten. With its ability to analyze massive amounts of data and discern patterns, AI is taking local SEO from a general shotgun approach to a highly focused sniper’s precision.

    In the realm of local search results, AI is not just making a splash; it’s creating waves of change. By honing its understanding of user intent and deciphering contextual nuances with increasing finesse, AI is taking the accuracy of local search results to new heights. This means that small businesses, from the corner bakery to the neighborhood bike repair shop, are more likely to find themselves in the spotlight of potential customers in their immediate vicinity.

    The new scribe in content creation

    It’s time to think beyond the confines of search engines. AI is not just revolutionizing the way these digital librarians work; it’s also transforming the art and science of content creation.

    AI tools are now stepping into the shoes of content creators, wielding the chisel and hammer to craft content that’s primed for search engines. These technological marvels save businesses a wealth of time and resources, handling the heavy lifting of content generation.

    But AI isn’t just creating content from scratch. It’s also stepping into the editing room, helping businesses fine-tune their existing content based on SEO best practices. With AI’s insightful suggestions for improvement, businesses can significantly enhance their visibility on search engines, like a beacon shining brighter on the digital horizon.

    Related: What’s Holding Back the Robot Revolution? We Humans.

    Data privacy: The elephant in the room

    As AI algorithms evolve, becoming more intricate and intelligent, the whispers of data privacy concerns are growing louder. In this era of heightened awareness about data privacy, businesses, especially small ones, need to tread carefully. They must ensure they’re wielding the power of AI responsibly, complying with all the relevant privacy laws, and respecting the sanctity of user data.

    Like any powerful tool, AI comes with the risk of overdependence. While AI can be a valuable ally in the SEO battlefield, businesses must remember that it’s not the silver bullet for all their SEO needs. The human touch – creativity, intuition and emotional intelligence — still holds immense value.

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    Gajura Constantin

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  • AI Could Replace The Equivalent of 300 Million Jobs — Will Your Job Be One of Them? Here’s How to Prepare. | Entrepreneur

    AI Could Replace The Equivalent of 300 Million Jobs — Will Your Job Be One of Them? Here’s How to Prepare. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Last year, many of us spent time thinking over the problem of AI bias, carefully depicted by one of the authors of “Coded Bias”, the famous Netflix documentary. Now that yet another boost of generative AI popularity is here to stay, the talks about job replacement are back in the game.

    Namely, one of the most verbose reports on how AI could potentially automate (or as many are afraid, replace people in their qualified jobs) belongs to Goldman Sachs, which was vehemently spread under a variety of alarmist headlines about 300 million potentially replaced jobs across the globe.

    In particular, some of the reported data suggests that 18% of the work worldwide is likely to be computerized, and the effects on the more developed economies could be worse than those across the emerging ones, for instance.

    Strangely enough, the recent boom of generative AI has coincided with several consecutive waves of layoffs in the online tech industry, which only made some sort of a minor panic in a myriad of discussions on the web even more understandable.

    Related: The 3 Principals of Building Anti-Bias AI

    However, the report itself suggests that the so-called “exposal to automation” itself does not imply the elimination or removal of the human-involved job in any way. More importantly, many of the non-white-collar professions are not even prone to negative effects.

    On a greater scale, according to some experts, the ability to operate the next-gen AI tech will be decisive for the professionals, instead of them becoming redundant because of Chat GPT-like solutions any time soon. As Ingrid Verschuren, head of the data strategy for Dow Jones said, “humans are the real “machine” that drives AI.”

    Facing the reality behind the hype

    So, as Goldman Sachs estimates, up to almost 25% of all work could be managed by AI completely in the upcoming years. But what exactly does this mean for a specialist in the law department, a copywriter, or a motion designer, for example? To tell the truth, not that much.

    A friend of mine, running a video production studio has been testing AI solutions to generate images for some time and as it turns out scraping the creative inspiration from the machine learning algorithms has been quite a tiresome journey all along. The default imagery is often somewhat generic (and often gloomy for that matter), so their designer team hasn’t been successful in actually applying the newly-acquired AI-powered assistance to a significant extent.

    Meanwhile, in editorial departments, the recent trend of running the ChatGPT queries, regarding some news personalities and seeing the not-so-truthful results has also proven the point of truthfulness being the weakest point of generative AI.

    And given so many of the false narratives, and how easily the generative AI tools are being persuaded (e.g. write content with non-existent facts, if those are being given in the assigned request), I highly doubt their legal advice is qualified enough to go along with, let alone substitute even an inexperienced, yet hungry paralegal for their software equivalent just yet.

    Will the future uphold our fears?

    While the current state of generative AI is obviously not as advanced as its founders wish to believe, some of the job market predictions for 2024 may seem too pessimistic for that matter. Of course, chances are the technologies are likely to have a significant impact on our workforce this way or another within the upcoming decade. So how can we be prepared?

    Here are a few focus points that entrepreneurs might keep in mind:

    Don’t rush into cut-offs

    Whatever the niche you’re in business in, the current state of generative AI doesn’t have the skills and competencies to replace any of the qualified specialists in your team.

    More importantly, even when further AI advancements arrive, you will probably still need your team to manage the new software (i.e. explain precisely what needs to be done, then review the outcome) in order to obtain the best results.

    Some of the most vivid examples include code reviews/tweaks, editing of the scripts created by AI, accounting and engineering project re-checks and physical exams/prescriptions reviews in medicine, but this list is virtually endless.

    Related: History Has Shown What Happens to Companies that Shy Away from New Tech, So Why Are So Many Afraid of Generative AI?

    Check your facts

    While we leave the media and celebrities worrying about the possible negative effects of complex deep fakes, made possible by the introduction of generative AI upgrades, using ChatGPT or similar tools to search for information remains a very tricky business.

    As the algorithms’ training evolves, the risks of being completely misguided will definitely decrease, but chances are that we won’t be able to trust the AI-generated text/image in the foreseeable future.

    Even though this aspect will remain of primary importance in editorial newsrooms, law firms and political offices, any calculations, provided by the advanced machine learning algorithms will also need to undergo re-checks, at least in the selected data cohorts.

    Peculiarly enough, the amount of time and operational resources, inevitably required to run these reviews/checks, actually challenges somewhat a common belief that the extended use of AI leads to higher productivity, with less budget spending.

    Beware of the bias

    The first thing we learned on the launch of ChatGPT was that its latest “knowledge acquisition dated to 2020 – 2021”, but the more important thing is that in spite of its latest upgrades, the generative AI is still old-school, or better to say biased.

    Here are several examples to prove my point.

    I’ve run a simple query asking ChatGPT to “tell me a story of two people”, and what I’ve got was a cheesy rom-com about John and Mary. Then I ran a short query to draw me two people on the beach in the relevant generative AI software and I got a picture of two males (even though the scene structure was good, no doubt about that). Presumably, having analyzed my request, the algorithm “decided” that “people” should primarily refer to “male people.”

    What this means to entrepreneurs using generative AI, whether they’re working in a creative industry or not, is their necessity to not just have a clear understanding of the AI-bias-risks, but also the willingness to triple-check, then update the intermediary software-generated results, prior to their incorporation into any of the further work product.

    Prospects for 2023-2024

    Long story short, whatever the misconceptions we might have about generative AI at this point, they aren’t likely to stay relevant in 10 years. However, the most reasonable approach to its use remains in moderation. In plain words, exaggerating its benefits will definitely be damaging, but the exceeding focus on its possible ramifications can be just as much.

    Quoting Ms. Verschuren from Dow Jones, it’s still up to us humans to figure out our future, and tweak our machines for better results, however complex they might be.

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    Anton Liaskovskyi

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  • Is AI a Threat to Remote Work? Understand the Crucial Challenges and Opportunities of AI | Entrepreneur

    Is AI a Threat to Remote Work? Understand the Crucial Challenges and Opportunities of AI | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    The dawn of the 21st century has ushered in the era of remote work. With technological advancements allowing for increased connectivity amongst individuals, organizations can now operate from disparate locations around the globe. The concept of remote work has been gaining traction over the last decade, with more companies embracing it as a viable option for their businesses.

    However, despite its potential benefits, particular challenges must be addressed if remote working is to become an integral part of the workforce. In this article, we will explore some of these challenges and opportunities that lie ahead regarding the future of remote work.

    Related: When Office Return Turns Sour: Apple and Twitter’s Struggles Reveal Fractures in Corporate Culture

    Challenges

    One of the primary challenges associated with implementing a successful remote work policy is ensuring that employees remain productive while away from their traditional office environment. It is essential to create effective communication systems and establish clear expectations around duties and tasks to ensure that employees remain motivated and productive. Without these safeguards, productivity could suffer due to distractions or lack of motivation.

    Another challenge is providing adequate support systems for staff. When managing a distributed team, it can be challenging to provide consistent feedback and guidance on activities and effectively monitor progress and performance. This can lead to feelings of isolation among staff members, which can harm employee well-being and overall business performance.

    Opportunities

    Despite these challenges, many opportunities are associated with introducing remote working policies into organizations. One such opportunity lies in cost savings for employers; by reducing rental costs on office spaces or eliminating travel expenses for commuting staff members, organizations can make significant cost reductions which can improve financial performance or provide additional funds for other investments within the business.

    Remote working is also beneficial from an employee perspective; studies suggest that staff who can work experience increased job satisfaction due to improved flexibility and control over their daily routine remotely. Additionally, enabling remote working also provides employers access to global talent pools as they no longer need to be confined by physical boundaries when recruiting new staff members.

    Finally, enabling flexible working arrangements could help organizations become more agile in responding to changing customer needs or market conditions; by having access to external resources, they’ll no longer need to rely solely on internal resources when adapting their operations quickly.

    Related: Benefits of Remote Work are a Widespread Success

    Impact of artificial intelligence on business and society

    As technology advances exponentially, so does its application within various fields, including business and society. Artificial intelligence (AI) presents great potential for increasing efficiency and creating innovative solutions within various industries such as healthcare, finance and manufacturing. However, like any new development, AI also raises concerns about its potential societal implications. In this section, we shall explore some key ways AI may have both positive and negative implications for businesses, society and human rights.

    Positive effects

    1. Enhanced accuracy and efficiency — One significant advantage artificial intelligence offers are its ability to improve accuracy & efficiency across many different tasks. For example, AI-powered bots and applications can automate mundane tasks with precision far beyond what humans would be capable of achieving. This increases output accuracy while freeing up valuable time, which could instead be used to tackle higher-value tasks. As such, adopting AI-driven solutions often leads to increased operational efficiency & cost savings, which can benefit both businesses and society.

    2. Improved decision-making capabilities — AI technologies also possess remarkable decision-making capabilities, which can significantly aid in strategic decision-making processes. For example, using automated data analysis algorithms, businesses can gain valuable insights about target markets and customers, leading to improved marketing strategies and customer service protocols.

    Similarly, healthcare providers may use AI-driven genomic mapping algorithms to identify diseases earlier than possible, enabling more effective treatment plans before symptoms develop. Such innovations present great potential benefits to societies at large, providing improved medical care while simultaneously reducing costs associated with wasted resources resulting from ineffective decisions being made previously.

    Related: How to Leverage AI for Maximum Benefits for Your Business

    Negative effects

    1. Loss of human jobs — One concerning factor raised frequently when discussing potential impacts AI might have upon society relates to the loss of jobs currently done by humans being replaced by machines taking over roles once held by people. At the same time, it may create social difficulties, particularly for those already vulnerable, such as low-income earners and elderly citizens

    2. Regulation — Another downside of automation through artificial intelligence lies in difficulty surrounding regulation and enforcement. Given the current rate of advancement, technology outpaces traditional regulatory systems meaning lawmakers struggle to keep up with ever-changing technical sectors. This means laws may not sufficiently address issues directly related to emerging technologies, leaving them open to exploitation.

    While artificial intelligence has great potential to enhance different aspects of our lives, both personally and professionally, there still remain ethical considerations, and problem areas arise should we fail to pay attention to what exactly controls us.

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    Kartik Jobanputra

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  • Why Are So Many Companies Afraid of Generative AI? | Entrepreneur

    Why Are So Many Companies Afraid of Generative AI? | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    The release of ChatGPT in November of 2022 prompted the fastest public adoption of any new technology we have seen in a long time — perhaps ever. Many businesses, however, are largely taking a “wait and see” approach, which will only make it harder to keep pace as the technology evolves.

    In recent months, generative AI tools like ChatGPT, Jasper, Midjourney and Rowy, and others have demonstrated incredible breadth. For the first time, language models are passing Google’s hiring test for engineers, Wharton’s MBA exams, and Minnesota University’s Law School exams.

    Perhaps even more impressive, however, is how quickly creative fields once thought to be the sole domain of the human brain — like art, music and poetry — are being disrupted by automated systems capable of creating original works. And this is only just the beginning. Generative AI tools are improving at such a stunning rate that it won’t be long before we consider these early versions of the technology primitive.

    The quality of these generative AI systems is mainly due to the incredible breadth of data and computing they’re built on. However, developing this kind of sophisticated generative AI model takes a significant amount of data and money — the kind only available to a handful of the world’s largest and most powerful technology firms. While there are interesting reports of companies finding innovative applications for generative AI platforms, most companies have largely remained on the sidelines as they grapple with legitimate concerns regarding intellectual property, security and overall quality.

    While it’s important for organizations to fully consider the implications of disclosing their intellectual property to these third-party systems and be aware of ongoing quality concerns yet to be addressed, they also can’t afford to ignore such important technological breakthroughs. Though the concerns are valid, it’s also important to recognize that they will likely be addressed soon. The technology is only getting more sophisticated, and the longer they wait, the harder it will be to catch up.

    Related: ChatGPT vs. Bard: A Modern Day David and Goliath Story. Who Will Win?

    We’ve seen this pattern play out plenty of times; an innovation is unveiled, businesses widely acknowledge its disruptive potential and then refuse to engage with it due to some valid but ultimately — in the grand scheme of things — misplaced concerns.

    For example, I can still recall when concerns regarding intellectual property, security and privacy discouraged many organizations from using third-party email servers, who instead devoted significant resources to developing and operating in-house email. The same happened when personal mobile devices were initially banned from the workplace or when cloud technology was introduced, then widely avoided. Now every company has a cloud strategy.

    For large, legacy companies with significant investments in in-house, non-cloud native applications, the costs and challenges of starting the journey to the cloud were so daunting that they pushed it off. It’s been years since AWS, Azure and GCP have been available, and yet there are many Fortune 500 companies in still just the early stages of adapting and strategically leveraging these services.

    Related: It’s Time to Prepare for the Algorithmic Workforce

    For those making significant investments now, it obviously would have been cheaper, faster, and better if that journey had started years ago. Ultimately, time wasted yields competitive ground to the leaner startups that embraced the cloud and can move more quickly.

    Today, companies are once again faced with a game-changing technology and yet have similar concerns regarding intellectual property, ownership, security, legal and compliance. The difference this time, however, is that the scale, sophistication and openness of the new AI models are even more advanced, and the technology is expected to evolve at an even faster pace than we have seen in the past.

    While the need to address these concerns is valid, and quality issues with these platforms are real, we’ve overcome such challenges countless times over; we can expect they will be solved in this instance. In the meantime, I firmly believe at least some small investment should be dedicated to understanding the art of the possible and its limitations and working through the intellectual property, security, and legal issues.

    Throughout history, countless inventions have improved human productivity. Software engineers today are more productive than engineers from decades ago. What changed? It certainly wasn’t the capacity of the human brain. Instead, our heightened productivity is thanks to new software engineering frameworks, platforms, and tools. AI tools represent the next major leap in this journey. Just imagine what an AI engine that can pass college-level exams can do when it’s purpose-built to help software engineers write code.

    While there are risks associated with the technology in its early stage, the most significant risk most tech companies face is waiting too long and allowing the competition to onboard the technology first.

    Related: 5 Fears All Entrepreneurs Face (and How to Conquer Them)

    Start-ups are in a particularly advantageous position, as they have much less to lose and much more to gain by taking a bold risk on early AI adoption. However, large enterprises can begin dabbling with generative AI by finding low-risk use cases. They should also ensure that this is considered a top priority for legal and security teams and adequately communicate the significant stakes.

    While the applicability of these technologies is broad, I recommend finding a pragmatic, simple area to begin experimenting and learning, then expand from there. Perhaps even host an in-house hackathon to see all the creative solutions your teams think up.

    There are countless opportunities to experiment with generative AI across marketing, engineering, customer service, and many business functions. While being conscious of the risks and taking steps to mitigate them, it makes sense to start small. However, getting started is important; otherwise, you may risk getting left behind.

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    James Barrese

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  • What Business Leaders Can Learn From ChatGPT’s Revolutionary First Few Months | Entrepreneur

    What Business Leaders Can Learn From ChatGPT’s Revolutionary First Few Months | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    When it first launched publicly in late November, ChatGPT was a novelty app going viral on social media. Now, just a few months later, ChatGPT is officially the fastest-growing app in history, with more than 100 million users as of January. For context, it took TikTok nine months to reach that same figure and Instagram more than two years. Microsoft and Google are integrating generative AI into their platforms and promising to transform the way we search for information. ChatGPT is here to stay.

    The skyrocketed trajectory of ChatGPT is as much a product of its unique launch strategy as its cutting-edge generative AI technology. ChatGPT wasn’t rolled out to corporate partners, aggressively priced or dependent on a massive marketing strategy and sales team. Rather than investing in these conventional strategies, ChatGPT invested in their customers first – and this tactic has undoubtedly paid off. Business leaders can look to ChatGPT’s first few months as a blueprint for what a revolutionary and lucrative launch model can and should look like.

    Related: ChatGPT vs. Bard: A Modern Day David and Goliath Story. Who Will Win?

    1. Consider the WOW factor

    ChatGPT’s rapid growth is largely because of just how fast the app was able to wow its users by producing amazing results instantly. Consumers tried and loved it, putting the platform in the center of the AI conversation and creating thousands of glowing testimonials – the kind many companies pay big to get.

    What started as an AI ripple became a tech world tsunami, showing that the best publicity is ultimately a great product. ChatGPT’s value and transformative capacity were immediately apparent from the first query. In general, companies spend time and finances in demos to select stakeholders, slowly setting people up for amazement. ChatGPT flipped this on its head and came out with the objective to wow the public from the beginning, piquing their interest and leaving them wanting to know more.

    Related: 5 Ways to Make Your Customers Say ‘WOW’

    2. Make room for consumer feedback – and don’t be afraid to iterate

    For OpenAI, we the people, are the testers. By launching the platform for free, developers got a ton of extremely valuable feedback and testing directly from users themselves. In a statement to CNN, the company spoke to the profound benefit of this strategy, saying, “The preview for ChatGPT allowed us to learn from real-world use, and we’ve made important improvements and updates based on feedback.” Rather than investing in beta testers, focus groups and other costly strategies before going to market, OpenAI created a fast and efficient feedback and iteration loop by the sheer number of users they had from day one. They were also never hesitant to learn from this feedback and integrate it into their development strategy to improve the product.

    Businesses can look to this as a model. This strategy has the added benefit of ensuring that when a business is ready to move from a loss-leading launch to a profitable model, it can be sure that its product has been adapted to meet consumer needs.

    Related: Professionals In This Industry Already Can’t Imagine Life Without ChatGPT: ‘I Can’t Remember the Last Time Something Has Wowed Me This Much.’

    3. Play the long game: A short-term loss-leading strategy leads to major gains

    OpenAI decided to invest a few cents per query in ChatGPT from the start. But in doing this, they saved themselves from spending tens of thousands — or more — on a comprehensive marketing, PR and sales campaign. In actual marketing and promotion, they essentially just published a press release on their website and let the internet do the rest. And now that ChatGPT has made such a worldwide splash, OpenAI is valued at $29 billion — more than double what it was in 2021. In monetizing their platform, they are more than making up for any short-term spending they invested in their launch.

    For instance, ChatGPT has just launched a Plus option for a $20 subscription fee. Microsoft has already invested $10 billion in OpenAI and is integrating it into Bing to revolutionize its search platform. Google declared a “code red” internally and scrambled to develop a ChatGPT-style search engine of their own. And the economy is following suit: today, AI stock investments are booming, demonstrating how even business leaders outside of the tech sector are rapidly warming up to the benefits that AI presents to our society and accepting the fact that this technology is the future.

    Business leaders can see this as a reminder that a bit of patience and confidence in your truly amazing product can go a long way. ChatGPT’s success has been lightning-fast, but even still, it took them a few months to be so profitable. They established a good reputation and now the return on investment is following.

    Cutting-edge technology like AI has far-reaching potential beyond just economic gains: These platforms will revolutionize how we work and live. Bill Gates said that this technology will “change our world.”

    If more business leaders truly want to follow suit, they need to develop amazing platforms — and rethink the old ways of doing things. ChatGPT gave us a glimpse into the kind of future that is possible. Leaders need to look to their launch as an example and apply similar strategies to ensure they, too, succeed.

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    John Winner

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  • Entrepreneur | What Does ChatGPT Really Mean For Businesses? It’s Benefits and Disadvantages

    Entrepreneur | What Does ChatGPT Really Mean For Businesses? It’s Benefits and Disadvantages

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    Opinions expressed by Entrepreneur contributors are their own.

    The advent of ChatGPT has disrupted the online world, and businesses must consider the potential impact of this technology on their operations. Companies need to reflect on how they conduct their work and the products and services they provide and evaluate how the integration of ChatGPT could improve their processes and deliver an even better experience to their customers.

    Benefits of chat-based AI

    ChatGPT’s ability to create natural language responses when given input from a user makes it a valuable addition to businesses seeking to improve communication with their customers or clients. With its potential to enhance workflows and deliver a superior customer experience, ChatGPT creates enormous opportunities for companies strategically leveraging technology.

    The use of ChatGPT in businesses presents numerous benefits, including:

    • Enhanced customer engagement: ChatGPT can help businesses improve customer engagement by providing quick, informative, and more natural responses to their inquiries. It leads to a more positive experience for the customer and can result in increased customer satisfaction and loyalty.
    • Automation of repetitive tasks: ChatGPT can automate repetitive tasks such as answering frequently asked questions, freeing time for employees to focus on more complex and value-adding tasks. It can increase efficiency and productivity within a business.
    • Generation of high-quality content: ChatGPT’s ability to generate human-like text can produce high-quality content for marketing, customer engagement and other business purposes. It will save businesses time and resources that supposedly would have otherwise been spent on content creation.
    • Global reach: ChatGPT’s language model can be applied in various languages, making it a powerful tool for businesses looking to expand globally and reach a wider audience.
    • Personalization and customization: ChatGPT can personalize customer interactions and tailor responses based on the customer’s preferences, needs, and history. It can increase customer satisfaction and loyalty, leading to increased sales and revenue for the business.

    These advantages highlight the potential for businesses to improve operations and customer experiences. By leveraging the capabilities of this technology, companies can streamline workflows, engage with customers on a personal level, and generate high-quality content at scale. Additionally, businesses can reach a wider audience and offer customized experiences to customers, further strengthening their connection and building brand loyalty.

    Related: 7 Ways to Use ChatGPT at Work to Boost Your Productivity, Make Your Job Easier, and Save a Ton of Time

    The limitations and challenges of chat-based AI

    While ChatGPT offers numerous benefits for businesses, it also has its limitations. ChatGPT lacks emotional intelligence and can generate errors in its text. Additionally, it requires a large amount of data for training, and there are concerns about the potential misuse or misinterpretation of its generated text, as well as privacy and security.

    In the beta version of ChatGPT, its developer OpenAI acknowledges that it may still generate inaccurate information or biased content. Its familiarity with data and events may be limited as the model was trained until 2021. AI models like ChatGPT require extensive training and continuous refinement to achieve optimal performance.

    Below are further limitations and challenges of ChatGPT:

    • Lack of emotional intelligence: ChatGPT cannot understand and respond to emotional cues and human expressions. It may lead to less human-like and personalized customer interaction, reducing the overall customer engagement experience.
    • Potential for errors in generated text: As the AI model is trained on a massive dataset, it may generate incorrect information or biased content. It can cause miscommunication and loss of credibility for the business.
    • Dependence on a large amount of data for training: AI models like ChatGPT require a vast amount of data to be trained effectively. Without sufficient training data, its ability to generate accurate and relevant responses is compromised.
    • Potential misuse or misinterpretation of generated text: ChatGPT’s ability to generate responses can cause misuse or misinterpretation, leading to negative consequences for the business.
    • Privacy and security concerns: Storing and processing large amounts of data for AI training raises privacy and security concerns for businesses. The data used for training ChatGPT or other AI models must be adequately secured to prevent unauthorized access or misuse.

    By understanding the potential limitations, businesses can make informed decisions about incorporating ChatGPT into their operations to maximize benefits and minimize risks. Additionally, ongoing monitoring and refinement may be necessary to ensure that ChatGPT continues to deliver the desired results over time. AI models require lots of training and fine-tuning to reach ideal performance levels.

    Related: Are Robots Coming to Replace Us? 4 Jobs Artificial Intelligence Can’t Outcompete (Yet!)

    Can chat-based AIs replace the workforce?

    This is a question that many people in the business world are asking as the use of artificial intelligence (AI) in the workplace becomes more widespread. The rise of AI-based chatbots like ChatGPT has the potential to automate many tasks that human workers previously performed. While chatbots can handle simple, repetitive tasks, they may struggle with complex, creative, or emotional functions that require human expertise.

    Instead, it is more likely that chatbots will augment the workforce and enhance human performance by taking over mundane tasks, freeing up time for more important tasks that require human skills. However, as with any technological advancement, businesses need to consider the potential effects on the workforce and make informed decisions about incorporating chatbots into their workflows.

    Related: How the Changing Labor Market Is Impacting Digital Transformation

    Vast possibilities of AI technology

    AI technology, particularly chat-based AIs like ChatGPT, has vast possibilities for businesses and the workforce. From enhancing customer engagement and automating repetitive tasks to generating high-quality content and providing personalization, the benefits of ChatGPT are clear. However, businesses must be aware and ready for potential limitations and disadvantages. Nevertheless, the potential for growth and innovation within AI technology is immense, and companies must weigh the benefits and limitations to make informed decisions about integrating AI into their operations.

    With careful consideration, AI technology’s potential to transform how we work and interact with customers is enormous.

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    Baruch Labunski

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