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Tag: AI tools

  • 3 Tips to Know Before Using ChatGPT for Marketing | Entrepreneur

    3 Tips to Know Before Using ChatGPT for Marketing | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    By now, you’ve undoubtedly heard the buzz surrounding ChatGPT. Powered by artificial intelligence (AI), this tool is capable of producing written content that’s similar to, if not virtually indistinguishable from human writing.

    Naturally, that’s elicited concerns about plagiarism in classroom and college settings. But others are optimistic about the tool’s application to a variety of advanced industries. For the business world, ChatGPT represents a new frontier in the creation of marketing content. Before you hand over your marketing plans to a program, however, there are certain key things you should keep in mind.

    Related: The Complete Guide to Effectively Using AI Writing Tools in Content Marketing

    What is ChatGPT?

    For starters, getting to know the details of the tool might be helpful.

    ChatGPT is the brainchild of OpenAI, a company that specializes in artificial intelligence and research. The company had already made waves with Dall-E-2, a tool that generates AI art. But ChatGPT can replicate human language well, allowing users to compose essays, emails and other reports with ease.

    How does ChatGPT work, exactly? Through machine learning, the bot is designed to scour the web to “learn” from existing blog posts, essays and online journals. As a result, the chatbot can reproduce skillfully written content, even emulating colloquial speech patterns and commonly used phrases.

    Not that ChatGPT is perfect. In fact, university systems are discovering that ChatGPT often invents fake sources and citations, presenting a natural limit to its usage in academic settings.

    Still, what the program currently lacks in accuracy, it seems to make up for in sheer speed and accessibility. And that’s primarily what’s drawn business owners to eye the program as a useful marketing tool.

    Related: How ChatGPT Is Changing One Industry — But Challenges Are on the Horizon

    Using ChatGPT in your marketing

    When thinking about how ChatGPT might help your business, the natural temptation is to start feeding it prompts and letting it go to work. But it’s important to use the program in ways that align with your company’s mission and strategy.

    Here are three practical considerations for integrating ChatGPT into your marketing methods.

    1. Look for very specific use cases

    Let’s go beyond the hype for a minute.

    It’s easy to speak in generalities: “Automation is the future” or “AI is changing the mortgage/retail/food service industry.” It might be nice to dream about, but the devil, as they say, is in the details.

    Related: How ChatGPT and Generative AI Can Transform the Way You Run Your Business

    To integrate ChatGPT into your marketing plan, you might start by considering very specific use cases. For instance, you might already know a few weak points in your marketing plan — maybe you’re attracting first-time visitors to your website but struggling with your page bounce rate.

    In this case, you might consider implementing ChatGPT to help you craft new language that engages your target market. Even better, use an AI-powered chatbot on your company web page. That way, users can interact with a live conversation partner whose responses may be indistinguishable from a live representative.

    These are just two common examples. You might also consider adapting ChatGPT to serve other functions, including:

    • Crafting search engine optimization (SEO) keywords and search terms
    • Generating social media posts
    • Creating compelling content captions and titles for your other content marketing
    • Writing optimized blog posts and online articles
    • Producing scripts for video content or podcasts

    ChatGPT is best used to augment tasks and initiatives you’re already engaged in, and to that end, it can be powerful. Even if you simply dictate your ideas to the program, it can polish your words and create a script you can use for podcasts, videos and more. (Just make sure you put your editing hat on afterward.)

    Related: ChatGPT: What Is It and How Does It Work?

    2. Look for new tools that will help people use ChatGPT

    You don’t have to reinvent the wheel. That is, you don’t have to find ways to use ChatGPT in its raw form.

    Instead, look for ways that other companies and developers are adapting this technology to create custom marketing tools driven by ChatGPT but tailored to fulfill a specific function.

    For example, Notion has created a tool called WriteGPT. It’s powered by ChatGPT but designed specifically to compose personalized emails for your target audience.

    By entering your recipient’s website into the program, the tool creates content that “speaks their language,” using phrases and vocabulary that show areas of alignment, which might lead to more conversions.

    Likewise, you can now leverage ChatGPT to gather continuous customer feedback through a tool called Hubble. This feedback can help you learn more about your target market’s needs and pain points, which you can then use as part of your product development and future marketing presentations.

    These are just the start. Again, everyone’s talking about the “revolutionary impact of AI,” which also creates needs that developers can meet using AI-powered business tools.

    In other words, the smartest thing marketers can do is stay alert and look for ChatGPT products that enhance their marketing strategies and refine their methods. In some cases, they can use these tools “out of the box” rather than having to develop every plan from scratch.

    Related: What Does ChatGPT Mean for the Future of Business?

    3. Don’t invent use cases

    If you don’t find use cases, it’s possible they simply don’t exist. Trying to find ways to shoehorn ChatGPT into your business could be a distraction, not an enhancement.

    Today’s consumers are highly sensitive to scams and manipulative marketing tactics. As such, it’s possible that making a shift in your marketing efforts could backfire on you.

    For instance, you might use ChatGPT to learn how to speak to your target market. But if you start throwing in too much slang and jargon about how your products are “on fleek,” you could come across as desperate — or worse, outdated — among the very crowd you’re trying to reach.

    Furthermore, it’s important to remember that ChatGPT is still in its infancy.

    If you ask it to generate 10 marketing ideas for your electronics business, you’re likely to get 10 ideas that are very similar to what every business owner in America gets. That might change as technology improves, but for the time being, attention is still required to refine the way you use the program in your marketing plans.

    Related: How to Start a Business With $100 Using ChatGPT, AI Tools

    Instead of imposing AI tools on every aspect of your business possible, think of ways to use ChatGPT to accelerate things you’re already doing. For instance, if you currently produce video content, ask ChatGPT to create a script. If you write blogs, ask it to help you generate creative titles.

    Think of ChatGPT as a means of eliminating bottlenecks or enhancing and streamlining your current efforts overall. And, don’t give in to the pressure to try something brand new. It might not work out the way you hope it will.

    The future of AI-powered marketing

    What does the future hold for ChatGPT? In all likelihood, stiff competition. Google has already released Bard as a direct competitor. Regardless, ChatGPT has very much emerged as a proof-of-concept, which means it’s only a matter of time before even more competitors emerge, or, as noted, other programs arrive that adapt the application to specific purposes.

    The sky truly is the limit when it comes to business marketing. These AI products may very well revolutionize many industries, though they also create new demands for marketers to make judgment calls about how best to leverage such tools.

    In the final analysis, advances in AI once again call for marketers to tap into the greatest resource of all: the human mind.

    Related: How Can Marketers Use ChatGPT? Here Are the Top 11 Uses.

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    John Boitnott

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  • How AI is Changing the Future of Personal Branding | Entrepreneur

    How AI is Changing the Future of Personal Branding | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    If you’re looking to establish your personal brand, it’s essential to know the growing impact of Artificial Intelligence (AI) in the field. Staying up-to-date with AI advancements can set you apart from competitors and position you as an industry thought leader. Let’s explore how AI will change the landscape of personal branding and how you can leverage the technology to elevate your personal branding journey.

    In today’s connected world, your brand is imperative. Whether an accountant or a CMO, your branding can help you stand out and get noticed among others. It’s becoming more critical as technology continues to grow and change. With a brand, you may attract more opportunities and build a strong reputation in your field. It’s a medium for others to remember who you are, what you stand for, and your story. If we talk about everyday practices and challenges, your brand demands a solid online presence, showcasing your expertise and unique value proposition and creating a consistent image and messaging across all platforms. However, you must stay true to yourself and maintain an authentic brand image.

    Related: 3 Ways AI is Changing How Startups Build Their Brand

    Why is a personal brand essential?

    Whether an accountant or a CMO, your branding can help you stand out and get noticed among others. It’s becoming more critical as technology continues to grow and change. You may attract more opportunities and build a strong reputation in your field with a brand. It’s a medium for others to learn your story, remember who you are and what you stand for. When discussing everyday practices and challenges, your brand demands a solid online presence, showcasing your expertise and unique value proposition, and creating a consistent image and messaging across all platforms. However, you must stay true to yourself and maintain an authentic brand image.

    The role of AI in personal branding

    As a professional, you may have already heard about the role of AI in transforming various aspects of business operations. However, you may not be aware of the potential impact that AI can have on personal branding space. Now let’s look at AI’s applications in personal branding.

    1. AI for content creation

    Content is king when it comes to building any brand. Creating high-quality and engaging content consistently can be a challenge. This is where AI can come in handy. AI can assist you in content creation by providing suggestions and insights on topics, formats and styles that resonate with your target audience. AI can also assist with content curation, helping you find and share relevant and valuable content from other sources that align with your brand’s messaging and values.

    With AI on your side, you can streamline your content production process and ensure that you consistently deliver valuable and impactful content to your audience.

    Related: Before Spending Thousands on Custom Designs, Prioritize This to Elevate Your Brand Instead

    2. AI for social media management

    You already know that social media is a vital tool for personal branding. Managing your social media presence can be a time-consuming and complex task. This is where AI can make a big difference. AI can help you analyze and track engagement metrics across multiple social media platforms, providing insights into what content is working and what isn’t. By identifying the best times to post, AI can also help you optimize your social media posting schedule to increase engagement and reach.

    3. AI for audience targeting

    Identifying and reaching your target audience can be challenging. For that, you can leverage AI to target your right audience. With AI, you can gain a deeper understanding of your audience and tailor your messages to resonate with them. AI can analyze data on your audience’s demographics, interests, and behavior, providing insights into the content and messaging most likely to be interesting.

    Potential drawbacks of AI

    You’ve seen the benefits and how AI can amplify your personal branding journey. Now let’s look at some potential drawbacks of using AI in personal branding.

    One of the main concerns is the risk of losing authenticity in your brand’s messaging. AI algorithms can generate content and messaging that appears personalized and human-like but may lack the unique voice and tone of the human touch.

    Another concern is the potential for bias in AI algorithms, which can result in personalized content and recommendations that are not inclusive or representative of diverse viewpoints. This can ultimately harm your personal brand’s reputation and alienate potential customers or clients.

    By prioritizing authenticity and responsible use of AI, you can maintain your personal brand’s integrity and build trust with your audience. Remember, while AI can be a valuable tool in personal branding, it’s ultimately up to you to ensure that your brand’s messaging and content align with your values and mission.

    The future

    As a professional who wants to build a personal brand, staying up-to-date on emerging AI technologies and best practices for personal branding is crucial for staying competitive and effective in your industry. AI technologies are constantly evolving, and by keeping abreast of new developments and trends, you can gain a competitive edge and leverage the latest tools and techniques to enhance your personal branding efforts. Staying informed can help you avoid common pitfalls and ensure that you’re using AI responsibly and effectively, supporting your brand’s authenticity and values.

    Whether attending industry conferences, following industry thought leaders, or regularly reading industry publications, investing in ongoing learning and development around AI and personal branding can help you stay ahead of the curve and ensure that your personal brand remains relevant and effective in the years to come.

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    Erica McMillan

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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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  • ChatGPT Experience Can Be ‘More Valuable’ than College: Report | Entrepreneur

    ChatGPT Experience Can Be ‘More Valuable’ than College: Report | Entrepreneur

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    Earlier this month, ResumeBuilder.com asked 1,000 hiring managers about the importance of AI chat in the workplace, specifically ChatGPT.

    To take part in the survey, the hiring managers had to, at the very least, know what ChatGPT was — and only 87% of those asked knew the answer. The remaining managers were asked if ChatGPT experience was important for entry-level positions and if they thought college students should invest in learning the technology.

    • 94% recommended that college students take coursework on ChatGPT.
    • 91% said “by next year” it will be important for entry-level candidates to have ChatGPT experience.

    Most of the hiring managers surveyed said it would be “beneficial” for a candidate to have ChatGPT experience, and 91% said their company is offering some sort of AI chatbot training.

    RELATED: We Asked Google’s AI Bard How To Start A Business. Here’s What It Said.

    “For entry-level positions, we strongly prefer candidates who have experience working with ChatGPT and other AI technologies,” said Alex Mastin, CEO and founder of Home Grounds, an online coffee site, per ResumeBuilder.com.

    In some fields, like real estate, for example, 86% of hiring managers said having ChatGPT experience can be better than having a college degree.

    “ChatGPT experience can provide a more practical and hands-on understanding of the real estate industry, which can be more valuable than a college degree in certain circumstances,” Eric Lee, co-founder of real estate site REIInsiders.com, told ResumeBuilder. “Ultimately, the combination of ChatGPT experience and a college degree can make a candidate more well-rounded and increase their chances of success.”

    RELATED: This New Type Tech Job Can Pay Up To $335,000 A Year — Even Without An Engineering Degree

    Although the technology is becoming more mainstream, some CEOs are hesitant to watch it advance. Elon Musk and other tech leaders recently signed an open letter urging a six-month pause on developing systems more advanced than GPT-4, Reuters reported.

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    Entrepreneur Staff

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  • 5 Ways ChatGPT Is Empowering People with Disabilities | Entrepreneur

    5 Ways ChatGPT Is Empowering People with Disabilities | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Artificial intelligence (AI) is transforming our world in myriad ways, and one of its most significant impacts is on the lives of people with disabilities. AI-driven programs like ChatGPT are helping to bridge communication gaps, facilitate access to information and foster independence for individuals with various impairments.

    While AI has many applications, today we will explore five ways AI is capable of helping people who disabilities may hinder work more efficiently and comfortably.

    Related: What Is Artificial Intelligence (AI)? Here Are Its Benefits, Uses and More

    1. Cognitive enhancement

    As someone who was diagnosed with ADD as a child, I have found AI to be a great tool for staying organized. For individuals with cognitive impairments, memory loss or conditions like Attention Deficit Hyperactivity Disorder (ADHD), staying organized and remembering essential tasks can be a daily struggle. In these instances, artificial intelligence, particularly AI programs like ChatGPT, can serve as a valuable and personalized assistant. Some of the ways I have personally used ChatGPT that have personally helped me are:

    • Customizable reminders: ChatGPT can be programmed to deliver personalized reminders for a wide range of essential tasks, such as taking medication, attending appointments, or completing daily chores. By tailoring these reminders to each user’s specific needs and preferences, AI-driven chatbots can help users better manage their schedules and responsibilities.

    • Motivation and encouragement: In addition to providing practical organizational support, ChatGPT can be set up also to offer motivational messages and encouragement to users as they work towards their goals. This emotional support can be invaluable in helping individuals overcome challenges and stay committed to their personal growth and development.

    • Routine establishment: Establishing routines can be critical for individuals with cognitive impairments, as routines can provide structure and stability. ChatGPT can assist users in developing and maintaining daily, weekly or monthly routines, offering guidance and support to help them adapt to new habits and stay on track.

    Related: What Does ChatGPT Mean for the Future of Business?

    2. Enhancing communication

    Communication is essential for everyone, and AI chatbots like ChatGPT can significantly improve it for people with hearing or speech impairments. By converting speech to text and vice versa, these chatbots enable seamless communication, allowing users to engage in conversations with ease and participate in social interactions they might have otherwise found challenging.

    Various disabilities may hinder one’s ability to communicate how they want to. However, GPT 4 is now available to the public and streamlining effective communication just got easier for everyone. People across multiple categories may have difficulty speaking, communicating effectively or expressing themselves properly.

    However, with the assistance of AI, disabled people can utilize GPT4 to help them communicate more effectively, provide clarity and offer communicative insights that help disabled people efficiently express themselves and their ideas with ease.

    3. Reading and writing assistance

    AI chatbots can make reading and writing more accessible for individuals with visual impairments, dyslexia or fine motor skill difficulties. By reading aloud text-based content or providing writing suggestions, ChatGPT can help users compose emails, essays and other documents with greater ease and efficiency.

    It is well known that AI is also a great writing tool and thus can help disabled people write easier. While some argue that AI is taking jobs away, some might see it as an opportunity to create more job opportunities for disadvantaged and marginalized people. As a business owner diagnosed with ADD, I can say that using AI has helped me with proofreading, spelling and writing.

    Related: Employers Need Workers. Now They’re Realizing The Untapped Talent of These People.

    4. Personal reminders and organizational support

    AI can be a valuable assistant for those with cognitive impairments or memory loss. ChatGPT can be programmed to remind users of essential tasks, such as taking medication, attending appointments or completing daily chores.

    This support can be instrumental in helping users maintain their daily routines and stay organized. Isolation and loneliness can be significant issues for people with disabilities, especially those with mobility or communication challenges.

    GPT-based AI technology can provide companionship through conversation, offering a listening ear and comforting responses. This interaction can be a source of solace and help alleviate feelings of isolation.

    Related: Unlock the Powerful Gifts Your Disability Taught You About Being a Better Leader

    5. Supporting education and learning

    AI-driven programs can play a vital role in helping students with disabilities access education. By answering questions, providing explanations and offering alternative learning materials, ChatGPT can serve as an invaluable resource for learners who may require additional support or accommodations. Everybody learns differently, and as someone who has personally faced the challenges of a learning disability, I can affirm that the way I process information is different.

    AI can assist as a resource of information, and GPT4 can break down information in different ways, depending on what is asked of it. For instance, you could ask chat GPT to help explain an idea or curriculum to somebody who has a learning disability in a specific way, or educators could use a guy to come up with creative ways to help people with learning disabilities excel.

    Artificial intelligence programs like ChatGPT can make a remarkable difference in the lives of individuals with disabilities (Myself included). By empowering people with enhanced communication, greater independence, and increased access to essential information and resources, AI is breaking down barriers and opening up new possibilities for those who may have previously faced significant challenges.

    As we embrace AI technology and continue to explore its vast potential, we must remain committed to developing inclusive and accessible solutions that can help all members of our society thrive. By doing so, we can work together to create a more equitable and connected world where everyone has the opportunity to succeed, regardless of their abilities.

    One great way to think about the current capabilities of AI is instead of comparing it to a search engine, think about something like ChatGPT as a thinking engine, where instead of it merely being a means to discover and search for data, it is also a technology that allows users to search for ways to think. AI isn’t perfect, but it certainly has positive use cases that have the potential to help those in need greatly.

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    Devan Leos

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  • Pope Francis’ (Fake) Puffer Coat Was Generated By AI | Entrepreneur

    Pope Francis’ (Fake) Puffer Coat Was Generated By AI | Entrepreneur

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    A photo of Pope Francis went viral over the weekend when an image of him stepping out in public in a stylish, puffer-coat version of white papal wear made its way around the internet, inspiring jokes for some and complete shock for others.

    The image was fake.

    According to Insider, the image was created with the “generative AI” program Midjourney, a platform where you can enter text and receive often highly detailed, sometimes uber-realistic images in return.

    In a Reddit thread, r/midjourney, people submit images that were created using the program, from a Rembrandt with cellphones to Severus Snape from the Harry Potter universe playing at the 1969 music festival Woodstock.

    On Friday, a user posted a series of photos of Pope Francis in a white jacket, one of which went viral on Twitter. The image even fooled Chrissy Teigen.

    “It went so viral, not just because it was funny to some people, but because most people couldn’t tell it was fake,” Sinéad Bovell, founder of media and technology company WAYE told CNN.

    She suggested that social media platforms might have features in the future that would mark these types of images as AI-generated.

    One way to tell that the image is AI-generated, at least in this case, is that the hands look misshapen, as the program struggles to create hands, per BuzzFeed News.

    Related: Getty Images Has Started Legal Proceedings Against an AI Generative Art Company For Copyright Infringement

    It is possible these photos are only going to get more popular as other generative AI programs that work similarly, such as DALL-E, from the same company behind ChatGPT, OpenAI, hit the mainstream.

    Lensa AI was another program that used generative AI to iterate on inputted images that found itself in the headlines in late 2022. Users were seemingly wowed by the realistic, digital portraits that depicted users as woodland fairies or in space.

    Related: What is Lensa AI? And Does it Pose Privacy and Ethical Concerns?

    Still, there could be implications beyond what the Pope’s lifestyle brand would be called. We’re hovering on the edge of a world where “we can’t distinguish what’s real and what’s not,” Bovell told CNN.

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    Gabrielle Bienasz

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  • How to Use ChatGPT to Unlock New Levels of Innovation | Entrepreneur

    How to Use ChatGPT to Unlock New Levels of Innovation | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    ChatGPT is everywhere, but we are only scratching the surface of the potential for such generative artificial intelligence (AI) capabilities. There are incredibly exciting opportunities for its role across innovation and research and development (R&D) just underneath the surface. Determined to find the answer, our innovation team dug deeper.

    If you haven’t already begun experimenting or implementing the generative language model developed by OpenAI into your business processes, you’ve at least heard of ChatGPT. The chatbot has garnered significant attention in the AI community and beyond due to its human-like and conversational abilities—the service reached 100 million users in less than two months.

    While the true threat or promise of generative AI will continue to be debated, it is more than certain that businesses can unlock real value for innovation by leaning into the application’s advanced language processing capabilities. New levels of consumer insights, more efficient processes and faster ways of working are just beneath the surface. To put the tool to the test, we used ChatGPT to simulate how we might drive new product development.

    Related: Here’s How Your Business Can Use 3 Popular AI Content Creation Tools

    1. The ideation process: quality input yields a quality output

    The answer you’re looking for depends on how you frame the question. Not as simple as it sounds! ChatGPT leverages a massive body of data from across the internet (over 570GB of data —approximately 300 billion words) to quickly answer user questions. And the question’s specific phrasing, wording, and context significantly influence the response.

    Say you are looking for the next great innovation in laundry for a consumer products company. According to a report by Grand View Research, you already know that the global market for laundry care products is expected to grow at a compound annual growth rate of 4.9% from 2021 to 2028 (ChatGPT could also tell you this if you didn’t know). You could simply ask, “What will be the next disruptive laundry product?” ChatGPT will then list a few potential directions for disruptive laundry products like sustainable laundry solutions, smart laundry devices, multi-functional products, etc. The response is interesting and might help affirm some initial thinking, but probably nothing you didn’t already know.

    But what if you tried a more creative angle like, “What do people love about laundry?”. This question is not as intuitive. But the insights from ChatGPT are potentially much more interesting and lead you to build a deeper understanding of consumer behaviors and emotions to anchor the next great innovation or product design.

    Image credit: Francesco Fazio | openai.com/blog/chatgpt

    Questions that lead to more questions lead to potential insights. This is the true power of a tool like ChatGPT. But it all starts with the question, and it pays to think about exactly what you want to know and how to frame the question.

    Related: What Does ChatGPT Really Mean For Businesses?

    2. The discovery process: less time researching and more time thinking

    Underlying all innovation is discovery, from contextual (market research, trend analysis) to behavioral (ethnographic immersion). It is essential but incredibly time-consuming.

    ChatGPT can do in seconds what traditional research might take hours and days—quickly gather information on a wide range of topics, sort through the data, and provide a view of what is important and what isn’t. Say you thought of four potential ideas for new laundry products, and now you want to gauge their relative attractiveness. You can ask ChatGPT to rank them for you based on their potential appeal to customers and even go further by asking ChatGPT to think about the types of customers that these ideas would most appeal to.

    Image credit: Francesco Fazio | openai.com/blog/chatgpt

    Just like the internet made encyclopedias obsolete, ChatGPT is turning traditional research on its head. In a matter of seconds, ChatGPT was able to rank new product ideas and provide a point of view of appeal by customer segment. This shortcuts the initial, more time-consuming research and allows you to go deeper into more specific areas of interest and shift your focus to higher-order tasks.

    Related: Will ChatGPT Become Another Race to the Bottom in Marketing?

    3. Preparing to go in market: accelerating the creative process

    Companies are already starting to use generative AI to handle most basic and transactional customer interactions. But ChatGPT can also lean into the more creative process as well. Want to brainstorm copy for a marketing campaign? Or draft your new company’s mission statement? Or create a starter list of KPIs for your growing sales team? ChatGPT can quickly help you get started.

    For example, let’s say you have built a new stain removal product and are ready to launch in market. Using ChatGPT, you can quickly brainstorm potential concepts for marketing campaigns and help draft advertisement copy. Your creative team now has a starting point to evaluate further and refine. Let’s say your team aligns on a campaign centered on eco-friendliness, ease of use, and stain-removing power. You can go a step further and ask ChatGPT to create compelling posts for social media. Here’s what you’d get:

    Image credit: Francesco Fazio | openai.com/blog/chatgpt

    Not bad, huh? Seeking opportunities to implement generative AI in tasks like these can help significantly accelerate and enhance your go-in-market strategy.

    Generative AI and the future of innovation

    The applications for generative AI do not just have potential; they are already changing the game’s rules for innovation. New concept development, accelerated research and discovery, and go-to-market strategy are just a couple of opportunity areas to leverage generative AI.

    However, it’s not going to replace human decision-making. We know that the massive body of data used by generative AI tools is already available content. In fact, the data underlying ChatGPT is only current up to 2021. So not only is it somewhat dated, but it also can’t replace true primary research.

    As long as you know the data you are working with and its strengths and limitations, generative AI’s abilities can still be incredibly powerful. And how much benefit it can provide comes down to knowing what questions to ask, where to dig deeper, and how to translate that knowledge into real action.

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    Francesco Fazio

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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 | AI May Add More Value to Marketing Than Human Brains

    Entrepreneur | AI May Add More Value to Marketing Than Human Brains

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    Opinions expressed by Entrepreneur contributors are their own.

    While enterprises have benefited hugely from artificial intelligence and its strengths, the business side gets most of the benefits. Getting down to specifics, the value that AI adds to processes comes as the company’s most significant advantage for marketing.

    Marketing is about three aspects of analysis: identifying consumer needs and preferences, mapping products and services accurately to these needs, and ascertaining the returns that this calculation has accrued.

    These three aspects and their efficiency make or break a pipeline. But to get into that, there is an urgent need to increase awareness about AI tools for marketing in the marketing community.

    Customer data crunching is just the start of the marketing team’s journey. The magic that can be worked with those numbers needs to come from AI tools. The outreach time, pattern and strategies are identified by AI tools much better, faster and precisely than any human brain can.

    The ML aspect of AI is priceless when accurately anticipating market openings, intuitively predicting the customer’s needs, nurturing prospects and helping to craft their journey — which favors us marketers. Artificial intelligence can be a priceless enabler at every step of the customer’s journey. Marketers increasingly realize this, and salesforce figures show the adoption of AI stood at 29% by marketing leaders in 2018, which moved to 84% in 2020.

    Related: Should You Trust Artificial Intelligence in Marketing?

    It is also interesting to note that AI is not a tool separate from most of the standing marketing strategies — anyone who uses social media for marketing, data funnels to pipelines, is essentially using AI anyway.

    While an AI-based tool is a boon for marketing strategies, it naturally steps in where human abilities end. The scope for error in AI is much lower than in humans’ error factor. This is its biggest strength. It does not even include the cost savings that ensue because of its speed and the ability to consume much larger volumes of data and generate more marketing outreach.

    An interesting new use of AI in marketing is its ability to generate messaging and marketing content that targets prospects with customized messaging, increasing its efficacy manifold. The messaging is built from data derived for social listening, and more often than not, it can target just the right audience with the right message.

    Related: 5 Reasons Machine Learning Is the Future of Marketing

    With AI tools, it is also possible to generate unlimited customer personas based on billions of data bytes collected from AI algorithms — digital interactions, geographical focus, purchase patterns and timelines of demands and preferences, to name a few. Any or all of these factors could serve to slice and dice data, helping achieve the most specific messaging for every prospect! In many cases, chatbots help deliver this, and that’s AI in another form.

    An interesting example I read was how Unilever hit upon the idea of ice-cream-flavored breakfast loops. It may sound very ordinary, but it consisted of loads of AI-based insights into what people like for breakfast. And they discovered a considerable interest in having ice cream for breakfast! So, now they have cereal-flavored ice creams (including Fruit Loop and Frosted Flakes) for the Ben & Jerry’s brand (both my kids love it!).

    AI and ML’s flexibility to any strategy aid in a faster, smarter churn for models to try out ideas. With AI to help, communication and marketing professionals need not invest time and money trying out various ideas of message and content until they hit the right one. That’s a massive save right there. These models can be personalized and provide targeted customization of every idea and word. Tracking real-time tactical data can drive speedy and efficient adoption or rejection of the best models. The decision-making process that identifies the best strategy and model is swift. Strategic initiatives can thus be pushed out in the market much more accurately, faster and at a much lower cost.

    Many use cases come to mind, some of them purely B2C but brilliant in terms of their adoption of AI tools for much better marketing, customer requisition and retention strategies — Amazon, Starbucks, Nike, Alibaba’s fashion store, BMW’s assistant in the automobile, to name a few.

    Related: What Is Machine Learning, and How Can It Help With Content Marketing?

    However, AI is not entirely out of the woods yet. While it can notch up a massive advantage for marketing strategies, the decision-maker is still a human mind at the end of the day. This is not to question the efficiency of AI, but we cannot forget that there are some streams where humans think better than machines, and very often, a business decision that came straight from the heart scores miles over one that came from perfect machine-made data-driven decisions.

    The secret to the successful adoption of AI in marketing is to marry the advantages of the two kinds of intelligence and derive the best of both — delivering a singular, infallible and near-perfect marketing strategy. It is sure to drive marketing intelligence to a whole new level!

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    Kartik Anand

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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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  • How to Future-Proof Your Tech Career

    How to Future-Proof Your Tech Career

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    Opinions expressed by Entrepreneur contributors are their own.

    One of the most significant shifts we are witnessing is the disruption caused by evolving technologies, such as Artificial Intelligence (AI) and blockchain. While they are still far from being perfectly refined, we are already seeing more significant use of AI and blockchain-based innovations across industries.

    Add to this the cyclical nature of the economy — the current downturn and the inevitable headcount reductions — that are making many tech professionals, not unlike myself, wonder what their career in tech will look like five to ten years from now.

    Seeing disruptive technologies

    There will inevitably be a move towards simple tasks automation in user interface (UI) and user experience (UX) development and design. Neural networks trained on huge data sets are set to significantly speed up and simplify the work of engineers and even replace some of those engineers to some extent.

    To stay in demand, I believe it is becoming essential for tech professionals to expand their horizons, including by deepening their knowledge of higher mathematics to help improve their skill set for solving complex architectural and scaling problems. Being able to come up with creative solutions and solve tasks in unorthodox ways is already important, but the trend toward valuing out-of-the-box thinking will only intensify going forward, in my view.

    The most in-demand skills in 2020, for example, were cloud computing, artificial intelligence, analytical reasoning, people management, and UX design, according to research by LinkedIn. These skills are expected to remain highly sought after as technology advances and organizations look to leverage innovation to drive growth.

    However, It’s not enough to simply possess these competencies because your skills and knowledge must be continuously updated to keep pace with the ever-evolving technology landscape.

    Learning new tricks

    To stay ahead of the curve, tech professionals must be proactive in their own continuous learning and professional development.

    For example, platforms such as Coursera, Udemy and Codecademy offer a wide variety of courses, ranging from beginner to advanced level, that can help tech professionals brush up on the latest technologies and best practices. Additionally, attending industry events and networking with peers can provide valuable insights into the latest trends and developments in the field.

    Learning doesn’t have to be formal or certificate-based. The most important thing is for a person to have a thirst for knowledge, a desire and the drive to want to become a better version of themselves every day, and a good grasp of advanced mathematics and similar STEM disciplines as a strong foundation for continuing to build future skills.

    Vetting soft skills

    Regarding future-proofing your career in tech, I would stress that soft skills are nearly as important as hard skills or technical knowledge and abilities specific to your field. Soft skills refer to the personal attributes and qualities important for working effectively with others. These include communication, problem-solving, and leadership — all are key for future career advancement.

    When interviewing candidates for positions at FunCorp, a developer of entertainment tech products, including apps for meme lovers, certain soft skills are the key to success. We look for people who enjoy creating and are not solely focused on completing the tasks set for them. We also want the type of person focused on ongoing personal development with the passion and drive to continue learning and evolving. This type of person will make sure to continue learning to make up for any gap in the hard skills they may possess.

    Staying motivated

    Striving to be a professional committed to ongoing personal development can go a long way. Motivating yourself to keep learning and upgrading your tech expertise can also be challenging. Luckily, several strategies can help.

    Setting specific and measurable goals for yourself is a great way to stay focused and remain on track. For example, you could set a goal to complete a certain course or certification by a certain date, or aim to attend a certain number of industry events every year. Breaking larger goals into smaller, more manageable tasks can also make them less daunting.

    Another effective strategy is to find a community of like-minded individuals motivated to learn and grow. Sharing progress and setbacks with them can provide a sense of accountability and motivation. Reward yourself for completing tasks or reaching milestones. Continuously remind yourself of the benefits of learning and upgrading your tech skills, such as increased job opportunities or higher pay. Setting yourself up for a brighter professional future should be a great incentive!

    It’s also important to find the right learning methods that work for you, such as taking online courses, attending workshops or regularly participating in online forums relevant to your specialization. Keeping yourself updated with the latest trends and what’s happening in the industry can help you to stay motivated and engaged. But it’s also essential to take a break if you feel burnout and revisit your goals with a fresh perspective from time to time.

    After all, nothing is set in stone when it comes to thinking about and planning for the future beyond 2023. Despite the recent turbulence, I believe the tech sector is still the place to be. In fact, according to the U.S. Bureau of Labor Statistics, employment in computer and information technology occupations is projected to grow 11% from 2019 to 2029, much faster than the average for all other occupations. So the demand will continue to be there as long as your technical and soft skills stay current and well-aligned with ongoing technological advancements.

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    Denis Litvinov

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  • Why Investors Are Bullish on EdTech in 2023

    Why Investors Are Bullish on EdTech in 2023

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    Opinions expressed by Entrepreneur contributors are their own.

    2022 closed with 30 EdTech Unicorns collectively valued just south of $100 billion. For context, these companies combined are biting at the heels of economically critical Fortune 500s like General Electric and American Express that command over $100B valuations.

    With consistent growth expected into the next decade, EdTech — along with its leaders, operators and mission that continue to grow into more verticals and geographies — is back in the race towards a more equitable future.

    Related: 5 EdTech Trends That Will Change Learning Between Now and 2030

    AI in EdTech

    It’s hard to find an industry that Artificial Intelligence hasn’t yet graced. While most implementations of AI are still experimental, its effects on education actively drive tangible results. Personalized learning driven by AI is at the epicenter, with research and data in the field reinforcing the benefits students are experiencing.

    Educators at the Institute for Innovative Learning suggest that “students who followed the self-regulated online learning guided by the personalized learning approach out-performed and gained more knowledge than those who followed the conventional self-regulated online learning activities after finishing the learning process.”

    The ever-widening student-teacher ratio in class sizes has historically limited traditional learning across the value chain of K-12 through to professional upskilling. AI-driven personalized learning tailored to the individual helps bridge this divide while still just scratching the surface of what’s possible.

    Related: Rise Of EdTech And Effect on Generational Learning Curve

    Achieving scale in EdTech

    A large horizontal (e.g., K-12) and vertical (e.g., content, experience, assessment etc.) value chain makes LMS or Learning Management Systems essential to achieving scale in EdTech. As classrooms grow larger and personalized learning more prominent, platforms that house these resources become mission-critical.

    As important as having a harbor to harness and leverage the vast amounts of data generated by personalized learning platforms. Extracting this data in an actionable format allows educators to develop better content while allowing technologists to understand best how key stakeholders use their products.

    While LMS have been around for the last few years, it continues to be a cornerstone of development for the industry as operators find new ways to implement bleeding edge technology (natural language processing, data mining and analytics etc.) and create outsized value.

    Extending reach and relevance beyond traditional education

    The shift to work from home has evolved how the world does business today and how companies support their workforce’s growth and professional development. Automating the identification of skill gaps in employees and making intelligent suggestions for resources that help fill them creates immense value for businesses and their employees.

    The ability to track unique skill sets and skill levels opens up the opportunity to staff resources more efficiently or suggest positions internally that could better leverage talent. While beneficial to HR resources, an automated approach to upskilling also adds to a Firm’s retention incentive for current and future employees.

    Venture Capital funding mirrored the above trends in 2022

    Data from HolonIQ suggests that, of “$10.6B and 1,400+ deals of EdTech Venture funding for 2022, nearly half focused on management systems and learner/teacher support.”

    Unsurprisingly, investing in EdTech is projected to slow in 2023 amid the overall macroeconomic environment. However, consistent results from adoption over the last few years should sustain a strong appetite from investors into 2023 and beyond.

    The level of investment into LMS suggests a conviction to scale in EdTech. It is a strong indicator that the key infrastructure needed is actively refined for the current suite of EdTech to leverage and built for future technology stacks to be based on.

    ChatGPT helped educate the world on the power of AI and will make the conversation easier for operators building AI-driven learning technology to gain the support of traditional educators. Lastly, the upside potential for businesses to develop talent at better unit economics (i.e., cheaper to support HR resources with AI-based professional development tools) while leveraging data to create predictive analysis, and better understand resource allocation on a granular level is exciting.

    Related: Microsoft Invests Billions in OpenAI, Creator of ChatGPT

    Government funding in EdTech

    As a bonus, the $30B in government funding available to educators in the US is an opportunity for EdTech to continue growing into school districts nationally and prove value while continuing to scale over the next few years. Although an allocation towards technology from this bucket isn’t clear yet, the shifting trends towards augmented support in teaching and managing a growing student population could warrant a sizable contribution towards EdTech from this pool of funding and those deployed in the future.

    Related: Will Edtech See a Paradigm Shift In 2023?

    Education is the greatest equalizer

    EdTech enables educators to reach more students than ever before with the ability to deliver content beyond the limitations of a language barrier or timezone. As more of the world’s populous go online daily, EdTech is actively creating a positive feedback loop of forward momentum for all– on all fronts.

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    Karl Eshwer

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  • 3 Marketing Trends You Need To Look Out For

    3 Marketing Trends You Need To Look Out For

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    Opinions expressed by Entrepreneur contributors are their own.

    The beginning of a new year is a great time to review business plans, reassess marketing strategies and finalize budgets. When it comes to marketing, there’s no shortage of ideas, trends and new tools. As a marketing leader with over 15 years of experience scaling marketing initiatives and teams, I’ve found that every business has its own success formula at the end of the day.

    To help you find your formula, here’s my take on three trends that I believe are critical for business growth this year and beyond.

    1. AI technology

    As customer expectations for personalized experiences continue to grow, businesses of all sizes are constantly looking for ways to provide a faster and better service and compete with audiences distracted by more content than ever before.

    From writing sales emails to answering customer questions to creating images for marketing campaigns, AI-based tools, such as ChatGPT and DALL-E, can help scale customer interactions, test marketing ideas, and grow business without increasing overhead costs.

    While you can’t completely outsource your marketing to AI (still need to check for accuracy, relevancy and brand alignment), AI platforms like ChatGPT — which can generate copy that closely resembles human-produced content and is capable of accurately interpreting highly customized requests — can help you get started on projects, maintain consistent customer outreach and save time.

    Instead of endlessly revising a blog post, spending all of your “marketing” time on social media, or skipping a holiday email because you don’t have enough time to write it, you can use AI tools to keep up with marketing outreach without feeling overwhelmed or losing sight of other parts of your business.

    AI’s potential in marketing is vast, and that by itself can be overwhelming. Start small — make a list of repeatable tasks you want to outsource and work from there.

    Related: Princeton Student Builds ChatGPT Detection App to Fight AI Plagiarism

    2. Digital accessibility

    As a marketing leader who built a career at leading tech companies in the United States, I rarely saw digital accessibility — or the practice of making websites, digital tools, and technologies accessible and usable for people with disabilities – prioritized in planning and developing websites.

    Until recently.

    As digital accessibility lawsuits skyrocketed and the Department of Justice (DOJ) cracked down on healthcare companies during the Covid-19 pandemic, businesses began to pay attention.

    Among the key reasons contributing to the increase in lawsuits and, more importantly, to a widely inaccessible internet (97%!) is the general lack of awareness and concerns around the cost of digital accessibility.

    Yet, by making your website more accessible, you can reach millions of Americans with disabilities who, according to the Return on Disability Report 2020, with their family and friends, control over 8 trillion dollars in disposable income in the United States.

    As more people search for products and services online, your website’s search ranking will continue to impact your business’s discoverability. Accessibility best practices, such as clear and descriptive headings and text descriptions for images, help people with disabilities navigate content and also make it easier for search engines to crawl and interpret websites.

    Accessible websites are also more discoverable to people who use voice search. A Google Mobile Voice Study found that 41% of US adults and 55% of teens use voice search daily.

    Here are a few steps you can take right now to make your website more accessible:

    1. Add alt text, or a written description, to all your images, which screen readers can read aloud for people with visual impairments, sensory processing disorders, or learning disorders.
    2. Use video captions and descriptions for people with hearing impairments. Make sure to review and correct any mistakes made by automated tools.
    3. Make your emails accessible – avoid using images as an entire email, underline inline links, and describe links accurately, so people who use screen readers know when text is linked and get a clear idea of where a link will take them.
    4. Use a color contrast ratio of at least 4.5:1. You can check your website and other digital content color contrast using a free color contrast checker.
    5. If you’re working with a digital agency, ask if they can provide you with a digital accessibility solution. If not, consider getting a solution that will continuously monitor your website for accessibility errors and fix at least the majority of common errors in real time, helping you maintain an accessible website without breaking the bank (manual audits and fixes are expensive).

    Related: Use These 5 Steps to Create a Marketing Plan

    3. Influencers

    Influencers come in different shapes and sizes: macro influencers, such as celebrities and bloggers with millions of followers on social media; micro-influencers with under 100K followers; and nano influencers — those with fewer than 10K followers.

    While macro and micro-influencers might be out of budget for you (unless they organically find your product and like it enough to start promoting it before making a deal with you), nano influencers might already be in your network — loyal customers, industry experts, your employees and partners with large social media following. Cultivating these relationships and organically tapping into influencers’ networks can help you get more exposure exponentially and build brand equity.

    To make the most of these organic influencer relationships, create opportunities for social sharing — events, product news, helpful content, etc. — that would benefit your brand and theirs.

    Related: Influencer Marketing 101: A Blueprint for Running a Successful Campaign

    AI technology, digital accessibility and influencers all share a common thread: customer experience. AI technology makes it easier for small businesses to consistently provide timely and personalized online experiences to their customers. Digital accessibility is critical in creating inclusive experiences and providing equal access to products and services for people with different abilities. And finally, outstanding customer experiences are key to building relationships with influencers and earning their and their followers’ trust in a brand.

    I hope you’ll find my take on marketing trends valuable as you decide where to invest your time and marketing dollars in 2023.

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    David Mazza

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  • 5 Crucial Predictions For Retail in 2023

    5 Crucial Predictions For Retail in 2023

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    Opinions expressed by Entrepreneur contributors are their own.

    With 2023 here, retailers geared up to make the most of the festive season with discount deals, slashed prices, free deliveries, bonus packages and more. That said, there’s an elephant in the room this season — and that’s the uncertainty about the consumer market. Recent headlines about inflation have changed most shoppers’ buying habits this year. Compared to 2021, one in four Americans (22%) is spending less on gifts this year. Conversations on social media around inflation relating to holiday shopping have increased by 35%.

    Further complicating the issue was the disruption of global supply chains caused by the pandemic. Increased demand for items led to skyrocketing prices. With customers now less willing to pay higher prices for goods, retailers face a potential decline in revenue, sales and profit margins. Retailers looking to minimize the impact of inflation, changing customer behaviors and an unstable market on their business must employ strategies to create an engaging and immersive shopping experience.

    Here are five predictions to help you meet your customers’ needs — and keep your business competitive.

    Related: How Compliance is Exposing the Fragility of the Global Supply Chain

    1. Increased adoption of an omnichannel approach

    A seamless shopping experience is quickly becoming the order of the day as customers want the flexibility of combining shopping on their phones with shopping at brick-and-mortar locations. The recent Shopify report proves this, with 54% of consumers saying they’re likely to look at a product online and buy it in-store — and vice-versa.

    Sephora is an excellent example of a company already adopting this approach. Customers can visit the brand’s website to add products to their carts and visit the store to try on their items before buying.

    To take advantage of the omnichannel experience, retailers should create a social presence that retains the brand identity across multiple channels. This includes messaging, services, pricing and overall customer service.

    Doing this well can make it easier to understand and predict customer behavior. You can tailor your consumers’ experiences to match your marketing and sales needs.

    Related: Future Of Retail Is Omnichannel

    2. Hyperpersonalization will skyrocket

    With shoppers now spending cautiously, typical personalization tactics are becoming ineffective in driving sales. Gone are the days of generic marketing emails with automated first-name snippets.

    Now, customers want purchases to fit their needs which requires brands to make customers feel more connected to the brand — which can increase loyalty and retention. According to a McKinsey survey, 71% of customers expect companies to personalize their experience, and 76% are frustrated when they don’t find it. Creating hyper-specific recommendations based on customers’ browsing history, past purchases, location, gender and age — increases the likelihood of making more sales and generating 40% more revenue.

    3. AI redefines the shopping experience

    The introduction of DALLE-2, LensAI and, most recently — ChatGPT — has sparked discussions around their use in retail. ChatGPT is an AI with nearly accurate responses to user queries—which can be used for conversational commerce. For example, in terms of personalized recommendations, AI can accurately recommend products using customer data. This helps the customer make an informed decision, driving sales.

    Regarding customer service across different channels, AI can easily give users the same experience by providing support and assistance at a far larger scale. While artificial intelligence is already in play in most parts of the retail industry, its adoption in 2023 will redefine the entire shopping experience.

    Related: Princeton Student Builds ChatGPT Detection App to Fight AI Plagiarism

    4. Data privacy laws will become stricter

    The debate on data privacy will likely become more heated in the next year, with the European Union proposing stricter regulations via GDPR. Under GDPR, user consent plays a big role in collecting sensitive and non-sensitive data. This means retailers and advertisers need to be transparent in using user’s personal data and offer consumers the option to delete or erase their data.

    The problem with the GDPR: Advertisers need user data to serve targeted ads. Retailers need advertisers to market their goods. Now, with laws becoming stricter in collecting this data, advertising prices are expected to increase.

    5. A switch to organic marketing

    The recent rise in advertising costs has pushed most retailers over the edge. Why? The current ad space price is double (with some triple) what it used to be. This means retailers are paying more to reach the same audience—with no estimated profitability, sales or even revenue guarantee.

    As a result, many brands are now moving toward organic marketing and capitalizing on its benefits. SEO, social media, content marketing and influencer partnerships are all tactics to ramp up in 2023. Using organic marketing in retail is a strategic approach that can help you build trust and maintain long-term customer relationships.

    Looking ahead, retailers are facing ups and downs in the market. Finding ways to appeal to customers’ needs is vital to staying afloat — and profitable. The strategies we’ve highlighted here will help you along the way while preparing you for what’s to come.

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    Jacob Loveless

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