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Tag: artifical intelligence

  • 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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  • Variety Entertainment & Technology Summit Explores the Impact of AI on Film, TV and More

    Variety Entertainment & Technology Summit Explores the Impact of AI on Film, TV and More

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    Variety’s Entertainment and Technology Summit on Sept. 26 will feature industry leaders who will discuss the impact of advancing technology on TV, film, gaming, music, digital media and consumer brands. The one-day event, presented by City National Bank, will be hosted at The London West Hollywood. 

    Among the guests is Eli Collins, Google DeepMind Vice President of Product Management, who will speak in the panel titled “Generative AI – Succeeding With the Genie Out of the Bottle.” He contextualizes how breakthroughs like the Transformer provided the foundation for today’s Generative AI boom, underpinning the image, video and other AI models that are disrupting the industry. 

    “We’re going to see AI tools that serve as a creative collaborator…imagine a film that adapts its tone and pacing to match your mood, or a music playlist that evolves with your tastes throughout the day,” Collins says. “Most of us have a video camera in our pockets throughout the day; think about the stories you’ll be able to tell in a world where AI lets you transform the footage you’ve shot in any way you can imagine.”

    Annie Luo, EVP of Global Partnerships and Strategic Development at Peacock, will be on the “Perfecting the Business of Streaming” panel. Her team is focused on launching innovative partnerships and cites Peacock’s deals with InstaCart and JetBlue as key examples.

    She describes the streamer’s mixed virtual reality partnerships with Meta. “A growing area of the creative business we are leaning into is virtual and mixed reality with partners like Meta,” Luo says. “We have a multiyear deal that brings Peacock and iconic NBCUniversal IP into a variety of Meta’s Reality Labs surfaces, including Horizon Worlds and Mera Quest headsets. This allows for us to innovate around our IP and bring in new, younger audiences.”

    Former “Modern Family” star and host of “Dinner’s on Me with Jesse Tyler Ferguson,” Ferguson will speak at the “Podcast All-Stars” panel, explaining how he tries to highlight his podcast by engaging with fans as well as promoting conversations with guests through social media. “People can visually see the connection that we have as well as listen to it in the podcast itself,” he says. “Every episode is a little different on how I push it out on social media.”

    Warner Bros. TV topper Channing Dungey and DC Studios’ Peter Safran are this year’s keynote speakers, sharing their inside knowledge of the changing scope of the entertainment industry due to the advances in technology. Pinterest CCO Malik Ducard and NBCUniversal president, scripted Lisa Katz are among the speakers for the “Entertainment Content Visionaries” panel and will outline new strategies to create projects that connects with audiences. 

    Erin Oremland — General Manager, AgilLink and SVP, and Head of Ecosystem Delivery — will discuss how entertainment companies are infrastructure in a panel called “Advancing Financial Operations in an Uncertain Media Marketplace.” In the panel titled “Power Couple: Entrepreneurship + Entertainment,” leaders in the industry go over how they are working to find innovative ideas to drive growth.

    In the “Expedia Group Brands: Empowering Digital Creators and Commerce” panel, Lauri Metrose from Expedia Group highlights a groundbreaking initiative in the travel industry while collaborating with influencer Caroline Baudino. On a similar note, in the panel “Marketer Renaissance – Masters of Storytelling Across Platforms,” industry leaders discuss their strategies for impactful storytelling across diverse platforms, including outdoor, online, TV, print and merchandise.

    Tim O’Brien, CRO of Scopely, speaks to guests about mega-deals and mergers that have transformed both traditional entertainment and the video game industry in the panel “Game Changing Deals.” It is followed by “Building Cultural Bridges in the Global Streaming Entertainment Era,” a panel of Amazon leaders representing different entertainment services and divisions, who will address how the streaming media landscape can serve as a conduit for diversifying audience reach while also building equity.

    A schedule of events can be found here.

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    Andrés Buenahora

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  • Filipino consumers demand brand transparency in AI use — Twilio study

    Filipino consumers demand brand transparency in AI use — Twilio study

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    Businesses are successfully using artificial intelligence (AI) to power more personalized, intelligent interactions with their customers, but face challenges around transparency and lack of customer data, according to new research from Twilio. The customer engagement platform that drives real-time, personalized experiences for today’s leading brands, recently released its fifth annual State of Customer Engagement Report. The global report, covering 18 countries, including the Philippines, surveyed more than 4,750 B2C executives and 6,300 consumers. It explored how brands are implementing AI to build better relationships with their customers, where AI is yielding the most return on investment for brands, and what engagement trends are most important to consumers. 

    The report underpinned the growing importance of disclosing how brands use customer data to deliver AI-powered experiences. It also raised a warning about the risks of underestimating consumers’ expectations for transparency.

    77% of Filipino consumers want clear information on how their data is used in AI, but only 53% of brands are fulfilling this critical expectation. In addition, brands in the Philippines are less likely to inform customers when they’re interacting with AI (41%) and disclose with whom customer data is shared (30%).

    “Customers today expect personalized experiences and want to understand how businesses use their data to shape those experiences,” said Kathryn Murphy, SVP Product at Twilio. “It’s imperative for brands to be clear about how they use AI, ensuring that they balance how they deploy it with equally robust measures to protect customer privacy. Transparency is not optional — it’s a critical component of building and maintaining customer trust and loyalty.” 

    Filipinos rank highest in valuing transparent communications as the most effective way to maintain trust

    As businesses embrace AI to drive personalized customer engagement, they gather every customer’s click, share, follow, like, and purchase to understand their preferences and needs. More than ever, businesses must keep their customers’ data safe to maintain their trust. This year’s report found that more than any other market, three out of four Filipino consumers regard transparent communication, such as clear and concise terms and conditions, return policies, and privacy policies, as paramount for brands to earn their trust.

    Consumers aren’t the only ones worried about data privacy. 41% of businesses surveyed report that their most pressing challenge is protecting customer data, with a further 53% citing compliance and data privacy concerns as the biggest obstacles to understanding their customers. Addressing these challenges to enhance the customer experience, 60% of brands in the Philippines say they are leveraging AI for risk and fraud management, a critical strategy for a hotspot for online scams like the Philippines. “When a company safeguards information and invests in AI-powered fraud detection and customer data protection tools, it enhances its customer experience and fosters mutual trust,” Murphy further noted.

    AI bridges the disconnect between brands and customers, but activating data and having the right tools remain a challenge

    While data is crucial for personalized customer experiences, brands in the Philippines are among the least likely to agree that they have the data needed to understand (51%) and develop comprehensive profiles of their customers (52%).

    The report found AI is helping businesses close this gap and improve their customer engagement. In particular, seven in 10 companies already leverage AI to predict customer behavior, 69% to understand customer needs and pain points, and 68% to personalize content and marketing. As a result, these forward-thinking brands are realizing many benefits, including better data-driven decision-making (48% of companies), higher customer satisfaction scores (47%), and increased cross-selling and upselling opportunities (44%). 

    Even as more businesses in the Philippines are embracing AI and have invested in tools like CRM or customer relationship management (70%) and CDP or customer data platform (54%), a mere 54% report having the right tools to understand their customers. On the upside, reliance on third-party cookies decreased from 87% in 2022 to 57% in 2023. 

    AI-driven personalization boosts the bottom line but Filipino brands underestimate its impact

    When companies embrace AI-powered personalization, consumers reward them by spending an average of 54% more with them compared to brands that do not. Focusing on the Philippines, 57% of consumers are willing to spend more money for a customized experience and half say they’ve made a repeat purchase from a brand based on the level of personalization they received.

    Personalization isn’t just preferred by Filipino consumers – it’s expected – and the majority of consumers (78%) are likely to quit a brand that fails to deliver personalized interactions. While 40% of Filipino consumers care about personalization, only 8% of brands treat it as a priority, personalizing engagement just 47% of the time.

    The full 2024 State of Customer Engagement Report is available here.

    Report Methodology

    Twilio’s State of Customer Engagement Report is based on a survey of more than 4,750 B2C executives in key sectors and a parallel survey of over 6,300 consumers in 18 different countries. It also incorporates data from Twilio’s Customer Engagement Platform. 

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    Gadgets Magazine 17

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  • OpenAI Executive Addresses CEO Sam Altman’s Firing In Memo To Employees

    OpenAI Executive Addresses CEO Sam Altman’s Firing In Memo To Employees

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    OpenAI executive Brad Lightcap addressed the recent news of CEO Sam Altman’s firing from the company in a brief memo to employees on Saturday and provided some more transparency about the decision.

    In the memo obtained by CNBC, Lightcap said Altman’s firing on Friday “took everyone by surprise” and that multiple ongoing conversations are being held with the board to gain more information about the reasons behind the decision.

    “We can say definitively that the board’s decision was not made in response to malfeasance or anything related to our financial, business, safety, or security/privacy practices. This was a breakdown in communication between Sam and the board,” he wrote.

    Lightcap assured employees that the company remains in a strong position, adding that its partnership with Microsoft is unaffected by the leadership change. OpenAI has gained billions of dollars from Microsoft amid the growing interest in ChatGBT.

    On Friday, OpenAI’s board of directors announced Altman’s shocking departure from the artificial intelligence research company he co-founded in 2015. In a statement, the board wrote that it “no longer has confidence in [Altman’s] ability to continue leading OpenAI” following a review process that found he “was not consistently candid in his communications with the board.”

    Altman wrote on social media Friday: “i loved my time at openai. it was transformative for me personally, and hopefully the world a little bit. most of all i loved working with such talented people.”

    Mira Murati, the company’s chief technology officer, would serve as interim CEO.

    The board added that Greg Brockman was also stepping down as chair of the board but would remain at the company and report to the CEO. A few hours later, Brockman announced that he, too, would depart from the company “based on today’s news.”

    The news of Altman’s sudden departure from OpenAI came as a shock, and questions linger about what led to his firing.

    In a social media post on Friday evening, Brockman wrote that he and Altman are “still trying to figure out exactly what happened” and provided a timeline of some events from that day.

    OpenAI’s board has not publicly shared additional information about Altman’s firing since the announcement on Friday. In the memo on Saturday, Lightcap said that updates will be provided to employees as soon as possible.

    “Mira has our full support as CEO. We still share your concerns about how the process has been handled, are working to resolve the situation, and will provide updates as we’re able,” Lightcap wrote in the memo.

    “I’m sure you all are feeling confusion, sadness, and perhaps some fear. We are fully focused on handling this, pushing toward resolution and clarity, and getting back to work.”

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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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  • 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 to Use AI and Automation to Boost Your Business Goals | Entrepreneur

    How to Use AI and Automation to Boost Your Business Goals | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Hold on to your hats, folks! The business landscape is evolving at breakneck speed, and AI coupled with automation is the catapult launching businesses to new horizons. But what’s all the hubbub about? In this article, we’ll dive headfirst into the deep end of automation. We’ll explore everything from the basics to expert strategies, and by the end, you’ll be raring to take the bull by the horns!

    Combining AI with business process automation is like having your cake and eating it. AI brings brainpower, while automation brings the muscle. Together, they streamline operations, enhance decision-making and make customers happy.

    Understanding the power duo

    Harnessing the power duo of AI and automation (BPA), we can liken AI to a virtual Sherlock Holmes within your business, deducing patterns and making intelligent decisions. At the same time, automation acts as the Road Runner, swiftly completing tasks that would otherwise take humans a considerable amount of time. Integrating these two technologies is as harmonious as peanut butter and jelly. AI’s intellectual prowess amplifies BPA’s capabilities, and reciprocally, BPA ensures the swift implementation of AI’s recommendations, creating a seamless and efficient system.

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

    Identifying the areas for integration

    If you’re wondering where to begin integrating AI into your business, look no further. Start by identifying sluggish business processes that could benefit from AI, such as customer service. Modern chatbots, continually learning and improving, can swiftly respond to customer inquiries, maintain engagement and even handle order processing. AI and automation can also revolutionize your supply chain and inventory management. They enable you to predict and preempt disruptions.

    Setting realistic goals

    While lofty dreams can be inspiring, it’s crucial to ground ourselves in reality when setting business goals. Understanding how AI and BPA can contribute to these objectives is a key step in prioritizing what’s truly important. It’s equally essential to recognize the boundaries of AI and BPA.

    Setting realistic and achievable targets that consider these limitations is a wise approach. Lastly, remember that success often comes from an iterative implementation process. By gradually introducing AI and BPA into your operations, you can optimize, learn and grow, embodying the principle that slow and steady wins the race.

    Related: How to Use Automation (and Avoid the Pitfalls) as an Entrepreneur

    The financial aspect

    The financial aspect of implementing AI and BPA is crucial, but it doesn’t have to be a bank-breaking endeavor. It’s about finding cost-effective solutions, keeping in mind that every penny saved contributes to your earnings.

    Moreover, it’s essential to consider the return on investment (ROI) when investing in these technologies. Ensuring you’re getting your money’s worth involves taking the time to calculate the expected ROI, thereby maximizing the financial benefits of your investment.

    Real-world applications

    The proof of real-world applications of AI and BPA is evident in numerous businesses that have embraced these technologies and are now enjoying the benefits. Amazon, a titan of efficiency, employs AI and BPA to enhance everything from customer recommendations to delivery routes, functioning like a well-oiled machine.

    Similarly, Netflix, the empire of binge-watching, utilizes AI to seemingly predict your viewing preferences, offering a personalized user experience. These examples demonstrate the transformative power of AI and BPA in the business landscape.

    Related: A Guy Is Using ChatGPT to Turn $100 Into a Business Making as Much Money as Possible. Here Are the First 4 Steps the AI Chatbot Gave Him.

    Legal and ethical considerations

    Navigating the legal and ethical landscape of AI and BPA is akin to staying on the straight and narrow, where exercising great power demands great responsibility. It’s crucial not to throw caution to the wind but consider the implications of data privacy.

    Transparency with customers about their data usage is paramount in this digital age. Furthermore, the game of AI must be played by the rules, ensuring fairness and avoiding bias. It’s essential to scrutinize AI algorithms to prevent discrimination and maintain a fair and unbiased digital environment.

    Don’t reinvent the wheel! Learn from industry experts like Elon Musk. Where do we even start with this guy? He’s like a real-life Tony Stark. Elon believes in pushing the boundaries but with caution. He often stresses the importance of understanding and controlling the risks associated with AI.

    Be bold but not reckless. When implementing AI and BPA, ensure you have safeguards in place. Regularly review the ethics and implications of your AI applications.

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    Gajura Constantin

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  • Top 5 Ways the AI Revolution Can Help your Ecommerce Business | Entrepreneur

    Top 5 Ways the AI Revolution Can Help your Ecommerce Business | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Open AI’s ChatGPT has created a buzz about the current “AI Revolution,” but it isn’t a revolution for everyone. This is a time of innovators slowly handing off AI applications to early adopters. The early majority is still waiting on the sidelines, waiting for that AI Revolution to reach their industry or market.

    It’s only begun to permeate ecommerce, where we see businesses using artificial intelligence and machine learning to streamline operations, personalize marketing and enhance the shopping experience.

    As those early adopters start integrating them into their systems, here is how you can apply them to your ecommerce business:

    1. ChatGPT and AI-Generated Content

    The most obvious application of AI is using tools like ChatGPT to generate strategic copy and content. ChatGPT is particularly astounding to us all because it responds in a way that we all understand, with no code or programming knowledge required. As a language model, its skill is navigating human language, pulling from vast libraries of information, giving you exactly what you asked.

    That means you don’t need to rely on human writers to dig through research to create search engine-optimized product descriptions. Businesses are already using ChatGPT to identify those keywords and use them to optimize their copywriting. Shopify even now offers AI generated descriptions based on keywords merchants input.

    Though these AI models are impressive, they aren’t infallible. They still make errors: hallucinations — or information gaps that have been creatively filled in by the AI to give a complete answer. These confabulations can manifest in lies or wrong information, citing sources that don’t exist.

    The data sources that AI pulls from are limited in scope and variety… and slightly controversial. Copyright claims are a concern when AI generates from other sources, and more companies, such as Reddit, want to make more money from the data they provide.

    But text is only half the battle. On Amazon, the title and image are priority number one. The first image of a product on a white background is essential. Then you need lifestyle shots, bullet point overlays and an example of product scale. You always miss a few images that you need during a photo shoot. Photoshoots are expensive, and AI could bridge that gap. Sort of.

    Image generation isn’t quite there yet. Levi’s, the denim company, recently had a campaign using AI from Lalaland.ai wearing their clothes. The models have a slightly “off” look to them, as most AI-generated images do, but it shows off the clothes without having to hire an actual model to put them on. This technology works well with clothes, but we have yet to see a tool that uses models interacting with more complicated 3-D objects.

    Related: The Dark Side of ChatGPT: Employees & Businesses Need to Prepare Now

    2. Chatbots and customer interactions

    More and more customers are interacting with chatbots and are enjoying the process. They’re available 24/7 and generally converse naturally, personalizing the experience. They also can upsell in the moment of interaction.

    Chatbots also speed up the customer support process. A survey of executives with companies using chatbots found that 90% had “measurable improvements in the speed of complaint resolution.” The less time people wait on the phone for a customer service agent, the happier they are.

    They do have limits, though. Chatbot company, Tidio, found that people prefer a human assistant when it comes to returning a product, troubleshooting and complaining about a service or product. Other companies offer chatbot integration for online businesses as it becomes more common to interact with these chatbots during an online customer journey. It’s possible to have one custom-built for your company, but also more expensive.

    3. Advertising targeting and personalization

    Catching potential customers in the consideration phase is getting easier, as AI-targeted ads intercept them during their shopping process. Online buyers will research for the product that best fits their needs, and as they hone in on their searches, an ad might pop up, giving them exactly what they need.

    Online furniture retailer Wayfair is an example of a company that uses AI to determine which customers are most likely to be influenced by the ads and, using their browsing histories, choose products they might actually buy.

    AI algorithms analyze vast amounts of data about customer behavior, demographics, purchase history and interests. More businesses are specifically using AI to distill this info for audience targeting and segmentation, avoiding bombarding consumers with irrelevant content. Higher engagement rates turn into more conversions.

    Another important aspect of creating targeted ads is through keyword harvesting — finding the best keyword match for your product. Automatic campaigns can be set to mine keywords, transfer keywords between campaigns and boost bids depending on peak and off-peak hours. It’s an optimized ongoing process that either you or an employee would otherwise have to do constantly.

    Marketing personalization gets even more advanced with AI-generated customer personas. Companies like Delve.ai use millions of data points from internal and external sources to create ideal customer personas, competitor personas, and social personas. Some AI tools use collected psychographic data and qualitative psychological factors to create more accurate personas than ones made with just demographic and behavior metrics.

    Related: 5 AI Marketing Tools Every Startup Should Know About

    4. Sentiment farming and fraud prevention

    Sentiment analysis is a newer tool to mine opinion data from reviews, surveys, web articles and social media. Language models are used to sift through the noise online to pull out what customers say about your products.

    You’re left with actionable insight into how consumers feel about your brand, your products and their customer journey. Opinions are measured by the adjectives used in conjunction with the product or service being reviewed. These adjectives are rated, and a score is revealed to rank the opinions. These opinions are sometimes skewed by paid reviewers making fake positive or negative reviews, which mislead customers. Sentiment analysis has been found to help prevent fraud by using language models to find spam reviews.

    Related: How AI and Machine Learning Are Improving Fraud Detection in Fintech

    5. Supply chain planning

    By analyzing customer behavior and demand data, AI-powered tools can help businesses optimize their inventory levels, reduce waste, and improve the efficiency of their supply chain.

    Forecasting customer demand and capacity constraints is necessary for supply chain management. AI tools can ensure that warehouse facilities have the correct flow of inventory in and out to protect against under- or overstocking. Amazon offers AI-powered inventory management through Intellify, building demand forecasts that allow your teams to act on inventory purchase recommendations.

    These AI supply chain solutions will not make the decisions or purchases for you, though. AI isn’t advanced enough yet to be trusted to make independent solutions. Complicated loop systems are being developed to reduce human interactions, giving AI like ChatGPT the ability to make iterative decisions based on the task given to them.

    The AI Revolution is upon us, but don’t expect an imminent Terminator apocalypse. The ecommerce tools offered by many AI services can help you streamline your business but won’t take you out of the equation yet.

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    Tyler Metcalf

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  • Fake Drake controversy is just the start of what AI will bring to music – National | Globalnews.ca

    Fake Drake controversy is just the start of what AI will bring to music – National | Globalnews.ca

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    The most talked-about song of the month so far hasn’t been the Foo Fighters’ new single or anything from Taylor Swift but a track that featured the vocals of both Drake and The Weeknd while simultaneously featuring nothing from either artist.

    If you’re confused, just wait.

    Read more:

    Music generated by artificial intelligence is coming to the radio sooner than you think

    Heart on My Sleeve was a creation of someone named Ghostwriter977 who used artificial intelligence to mimic the vocal styles of both performers. The result was a brand new song born out of software that really does sound like Drake and The Weeknd spent the weekend in a studio together.

    Ghostwriter977 posted the track on all the streaming music services (Spotify, Apple Music, YouTube, Amazon, SoundCloud, Tidal, and Deezer) and saw it played and viewed hundreds of thousands of times. A TikTok post was streamed 15 million times. One Twitter post received 20 million clicks.

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    Universal Music, the home label of both Drake and The Weeknd, complained very loudly and Heart on My Sleeve was taken down. But because the internet is forever, you can find it with a quick Google search. Universal condemned the practice of using real songs by real artists to train AI to create new and different songs, calling this “both a breach of our agreements and a violation of copyright law.” The label also took a shot at streaming music services, saying that they have “legal and ethical responsibility to prevent the use of their services in ways that harm artists.”


    Click to play video: 'Historian reimagines Canadian politicians as glam rockers using artificial intelligence'


    Historian reimagines Canadian politicians as glam rockers using artificial intelligence


    There is so much to unpack with this situation.

    Drake and The Weeknd aren’t the only acts to find fake versions of themselves online. Rihanna, Jay-Z, Kanye West, Ariana Grande, and Eminem are just three other artists who have been cloned using generative AI. Imagine being sent a link to a song where that’s you but not you. Would you feel violated and ripped off?

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    In the case of a Lady Gaga/Lana Del Rey creation, both singers gave their blessing and apparently love the results. It’s unclear if they’re being compensated.

    The legal questions surrounding these fake songs have been bubbling up for the last couple of years.

    First, copyright law is murky when it comes to these new AI songs. Neither Drake nor The Weeknd wrote or sang the song. They had nothing to do with it and have no compositional or performance claim. Everything about Heart on My Sleeve was created by a machine without any input from them. The final product just happens to sound eerily familiar. It’s also disturbing that the topic of the song is Selena Gomez, who once dated The Weeknd. The voices on the song trade verses about her.

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    Since many territories (including Canada) only consider music created by a human copyrightable, the legal implications are unclear. There are no laws specific to AI creations (although the EU is working on it). As the person who programmed the AI, does Ghostwriter977 have a claim to ownership of the song? It’s possible, depending on how you interpret the laws. For example, you might argue that Heart on My Sleeve was a collaboration between human and machine. Then there’s something called “transformative parody” is recognized as legal. But what exactly is meant by “transformative?” The legal system has yet to be tested on that.

    Another issue has to do with image and likeness. Up until now, third parties have had to be very careful when appropriating characteristics of someone for uses for which permission has not been granted. Imagine how you would feel if you stumbled on some virtual version of yourself, one that looked and sounded like you but was doing things you’d never do and saying things that you’d never say? And if your online clone says something libellous or defamatory, who will answer for that?

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    Other artists such as Brian Eno, Peter Gabriel, and David Guetta are bullish about the prospects of AI being used for the creative good. Guetta has gone so far as to say the future of music is in AI. And they might be correct if certain precedent is considered.

    Back in the very late 1970s and early ’80s, technology made it possible for artists to deconstruct songs into samples which were then reassembled into new songs. Sampling became an essential creation tool and after a period of legal ambiguity is now an accepted part of music composition. If you follow the rules and procedures and pay for use of the sample, no problem.

    Sampling gave birth to something called an “interpolation” where an older song is incorporated into the foundation of something brand new. An excellent example of an interpolation is the use of Rick James’ 1981 song Superfreak. It was recycled in a crafty way for MC Hammer’s U Can’t Touch This (1990) and more recently for Super Freaky Girl by Nicki Minaj (2022). The rightsholders of Superfreak (which is now the Hipgnosis Song Fund) receive revenues from those interpolations.

    Samples and interpolations are settled law. Could the same happen with AI? I’d bet on it.

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    Say you have a particularly pleasant singing or speaking voice. You may soon be able to license your voiceprint to a company that would then use it to do voiceovers and narrations.  Such companies already exist. This leads to the possibility of Morgan Freeman narrating documentaries about penguins for the next 100 years.

    Or we could see more projects like this. A British band called Breezer was tired of all the promises of an Oasis reunion so they enlisted AI to create the next best thing. They figured out how to create something akin to what the real Oasis sounded like between 1994 and 1996 and the results are excellent. Even Liam Gallagher approves: “It’s better than all the other snizzle out there. I sound mega.”

    Trending Now

     

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    You just know someone is working on a Beatles reunion album right now. Good or bad? Well, if licensing AI projects can be worked out, there could be a lot of money to be made, just like artists are making money from samples and interpolations.

    But let’s get slightly dystopian again. If anyone can use AI to write a song, it’s likely in the near future that streaming music services will be flooded with new tracks written by machines with the help of a human programmer. The number of songs in the streamers’ library will jump from the current 100 million-ish to something perhaps exponentially much, much higher, making it harder for everyone to rise above the noise.

    Still, some of these songs will become hits. What then? Will record labels establish AI departments for the expressed purpose of creating and promoting artificial stars? You bet. Revenue-generating music without having to deal with pesky musicians and all the overhead that goes along with them. This will give birth to a new generation of creatives who make music without learning how to play a single note. Again, good or bad? We’ll see.

    Read more:

    The robots are coming to take over the airwaves. Next target — the trusted radio announcer

    It’s getting easier to train AI, too. You feed it music — say, from Spotify — and the program analyzes the millions of data points within the song. From there, it can synthesize something new incorporating the characteristics of what it heard. Google even has a new AI that will write a song for you based on instructions given through nothing more than text. Very soon, we’ll be able to type in something like “Write a song that riffs like Metallica but has a vocal like Madonna.” Boom. Done.

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    This goes far beyond just music, too. Any kind of creative work can be used to train an AI from images to writing. There’s a project called Have I Been Trained that allows users to figure out of someone has used their copyrighted work for AI purposes without permission. Expect more of this type of policing.

    Google CEO Sundar Pachai appeared on 60 Minutes earlier this month. He believes that AI will eventually be as important to the human race as fire and electricity. He also believes that the time to start creating rules and laws is now. Companies, organizations, and governments must come together to ensure that the amount of evil done using AI is kept to a minimum.


    Click to play video: 'Why some tech, AI leaders are calling for a 6-month pause on artificial intelligence development'


    Why some tech, AI leaders are calling for a 6-month pause on artificial intelligence development


    Meanwhile, AI will only become more sophisticated and will take the place of more and more humans. Who will be the first to experience disruption? Artists. Certain types of writers. People in knowledge industries. Creative types. Of course, new jobs will arise as a result of AI. Hey, there are already openings for a new gig called “AI prompter.”

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    If you were around in the mid-90s when this new thing called the “internet” was starting to become popular, you might remember thinking “This is cool. It’s going to change a lot of things.” But even the wildest imaginations could not have predicted how the internet has managed to reshape humanity in such a short period of time.

    I’ve got the same feeling about AI. It could actually open up new frontiers in music. But for everything else, I’m not nearly as optimistic.

    —

    Alan Cross is a broadcaster with Q107 and 102.1 the Edge and a commentator for Global News.

    Subscribe to Alan’s Ongoing History of New Music Podcast now on Apple Podcast or Google Play

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    Alan Cross

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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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  • How You Can Actually Use AI To Benefit Your Business | Entrepreneur

    How You Can Actually Use AI To Benefit Your Business | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Everyone is talking about AI right now. No longer just a futuristic concept saved for Hollywood sci-fi movies, artificial intelligence has become a red-hot topic with extensive real-world applications in recent years.

    You might have seen stories about the ChatGPT bot writing song lyrics in the style of your favorite bands or holding realistic conversations, along with AI-generated art platforms like Dall-E making weird and wacky creations. But as new conversations about the future of AI are happening every day, it’s easy to overlook how AI can actually benefit your business on a smaller scale.

    The goal at any company is to continue finding areas where you can remove yourself from mundane tasks to focus on the more important things. Think of it as the progression from the employee, to the contractor, to the AI: greater efficiency, streamlined day-to-day tasks and bigger-picture thinking. What commitment is required of you as a business owner, and where can AI help you?

    What is AI?

    Artificial intelligence, by definition, is “the theory and development of computer systems able to perform tasks normally requiring human intelligence.” There are varying degrees of sophistication, ranging from the ability to perform basic admin tasks, to making informed conclusions on complex concepts.

    A branch of AI includes machine learning, which refers to specifically programmed computers that can continue to learn with the more data it processes without the assistance of humans. My own company has integrated this in the healthcare space, which has been integral in ensuring the most bespoke service possible to meet individual needs — AI for the purpose of greater human impact.

    Aside from industry-specific applications, most of us are already utilizing some form of AI in our daily lives, from Google searches and predictive text to recommended playlists on our music streaming services. But AI is also increasingly steering the conversation around more advanced applications, like self-driving cars and facial recognition. What many of us don’t realize, however, is that AI is far more accessible in the workplace than you’d think — and not in a creepy apocalyptic movie kind of way.

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

    Customer service and success

    It’s an evergreen fact that customer service always has and will always remain king. The need for a hands-on, human touch cannot be overstated, but AI can be extremely effective in helping to improve the overall customer service experience.

    Primarily, it can help staff handle fewer inquiries and reduce workflow. Many businesses will use a chatbot as the first port of call for any questions, an automated message service that can help with things like shipping updates, order times and product details. It can be integrated into numerous industries and programmed to answer basic queries or personalize user information. These can also even respond in different languages, broadening your customer service offerings on a global scale.

    Regarding customer success — proactively working with customers to ensure their satisfaction and retention of services — AI can also be beneficial. However, rather than replacing a customer service rep, AI can compile key information that helps to make the consumer’s experience more personalized. By offering 360-degree insight, AI can use data to make predictions, identify areas for improvement and even point toward potential expansions or developed services. It’s all to keep the customer happy and satisfied.

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

    Replacing email interactions

    Receiving customer emails en masse — where you’re required to keep track of orders, inquiries, tracking numbers and many other things — can quickly break even the most organized of teams. Not only is it logistically challenging to effectively and quickly manage so many micro-tasks, but responses can also be frustratingly slow for the customer.

    On the other hand, an email bot can automate end-to-end customer service. It might be a case of it responding to pricing queries, updates on order progress, or passing on more complex matters to your team. Some bots can even pick up tone and language to prevent making matters worse with an overly cheery reply. This helps save customer support time on repetitive queries that can be resolved by the automatic retrieval of information.

    Related: What AI Can Do To Engage With Customers

    Outreach and sales

    Have you ever wondered just where your business could be if you weren’t spending so much time on the admin? AI has many applications within the marketing space — a job role primed for creativity but often gets bogged down in emails.

    The key benefit is that AI decision-making and correspondence are based on hard data, such as previous usage, past orders, and surveys, whereby programs can acquire sales insights that a human never could. This can assist with lead generation and lead scoring before determining the appropriate marketing campaign. One survey found that 61% of sales teams exceeded revenue goals when leveraging automation in the sales process.

    Related: Artificial Intelligence May Add More Value to Marketing Than Human Brains

    Blog writing and SEO

    We know by now that there is a science to SEO optimizing web pages and blog posts — and it’s constantly changing. If you want clean, factually accurate and lively copy for your business, AI resources are becoming increasingly sophisticated and capable of doing so.

    Consistency can be one of the hardest aspects for blog posts, but AI can help increase your output by drastically decreasing writing and editing time. By entering keywords and a simple brief, AI can form strong copy frameworks for the marketing team to refine, supplement, and polish off, from ads and marketing emails to social media copy and explainers.

    AI is not a means to completely replace jobs (yet), but it can make our roles at work a lot easier. By freeing up more time for creativity, strategy, and long-term thinking, it provides the means for companies to stop looking at emails and start looking ahead.

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    Patrick Frank

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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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  • 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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