Industry Insights & News:

Stay informed with our daily dose of AI news and industry insights to help you make informed business decisions.

• OpenAI shut down in Italy. Their Data Watchdog cites data breach, transparency, and age issues for OpenAI, requiring a 20-day resolution or face a $21.7M fine. France, Germany, and Ireland could be next.

  • TL;DR - If you're global or going global, the foreign markets like EU (with a more restrictive and slower to adopt data policy) will lag behind the USA. The good news: find what's working in the USA, then be ready to launch in the EU. The Samwer brothers have built billions with this exact model.

• Amazon launches AI Accelerator, a 10-week program designed for generative AI startups worldwide, providing them with up to $300,000 in AWS credits to help build their companies. Applications are open for the next two weeks.

  • TL;DR - What a perfect opportunity to seize the AI gold rush! Now you can go rapidly build & test AI MVPs in a booming market. Access AI tools, resources, and $300k in AWS credits to fast-track innovation and growth. Apply here. 

• Red Alert: Microsoft lays off team that taught employees how to make AI tools responsibly.

  • TL;DR - In the midst of the storm of ethical concerns and regulatory claims, Microsoft has laid off its entire AI ethics and society team, leaving no dedicated team for integrating AI principles into product design. If your business is selling into the enterprise, this could quickly become part of the conversation around how your business is handling ethical and legal implications. This is a growing conversation with a lot of eyes on it, so if you're looking for a new service offering, consider building out this program and certification to fill the gap in the market.

• Midjourney suspends free trials due to overwhelming demand and trial abuse.

  • TL;DR - If you are leaning on Midjourney or free trial other apps to save costs, heads up - that may be ending soon! As the AI landscape morphs so quickly, finding quality tools that fit your budget and needs are going to be key. Stay tuned for our AI Business Toolkit, complete with the AI tools you need to build your business on. Waitlist coming this week! Send us a note here if you’re trying to make a decision today and we’ll give you the answer.

AI Business Boosters

Sales & Marketing:
Use AI-powered tools and strategies to boost your sales and marketing efforts and attract more customers.

• Image and video editing has never been easier for your marketing team with Meta's latest launch of the cutting-edge AI model, the Segment Anything Model, or SAM. This innovative AI technology can identify and cut out objects from any photo or video with a single click or by using text prompts, making image and video editing a breeze. (It’s free!).

• Don't waste time and money on content planning without predictions. Take control of your video's success with Creatorml! Estimate your video's CTR (click-through rate) instantly by inputting your title, thumbnail, duration, and YouTube channel. Our cutting-edge tool analyzes over 1000 videos and detects patterns that lead to high click-through rates.

Investment & Finance:
Discover how to leverage AI investment opportunities to grow your business and stay ahead of the competition.

• Maximize profits, minimize risks: Use AI to optimize financial decision-making, minimize risks, and boost profitability. Meet Aladdin (Asset, Liability and Debt and Derivative Investment Network) 

• Unlock the potential of AI in finance with 9 powerful examples of how it can be utilized to cut costs, optimize resources, identify cost-saving opportunities, and drive growth for your business.

Operations & Productivity:
Enhance your business operations and boost productivity with the latest AI-powered solutions.

• Unlocking Supply Chain Optimization: AI and analytics drive better Inventory Management, Smart Manufacturing, and real-time Delivery Controls. McKinsey study reveals 15% cost reduction, 35% inventory reduction, and 65% service level increase.

• AI and automation are becoming increasingly important in today's business landscape, with over 50% of organizations planning to incorporate them in 2023. Discover How to Enhance Business Automation and Unlock New Levels of Operational Efficiency to stay ahead in the game.

Product & Engineering: 
Stay on the cutting edge of innovation and technology with insights into the latest AI trends and developments.

• Imagine being able to answer complex questions about your product using plain English. June.so makes that possible. Simply write a question about your product, and June AI will provide the answer. You can also view and edit the SQL query if desired, and save your queries for future reference.

• The AI Commission of the U.S Chamber of Commerce has released a report after a year of research, highlighting how AI will impact all sectors of the economy, including small businesses. The report emphasizes the need for a risk-based regulatory framework to ensure responsible and ethical deployment of AI technologies, providing valuable insights for small business owners navigating the evolving landscape of AI.

Building Your Dream Team:
Find and manage top talent with AI tools and strategies that streamline the hiring and training process.

• Given the potential cost of up to 30% of the first-year salary for a bad hire, small businesses should consider incorporating AI into their hiring process to mitigate risks and increase the chances of making successful hires.

• What if instead of mass layoffs, AI increases productivity and well-being generally from work? New AI tools could ‘easily’ lead to 4-day week, expert says.

Kickstart Your Week

Layer these things into your conversations this week to sound relevant!

"Did you hear about Italy banning ChatGPT? They have concerns over data protection, data accuracy and age restrictions. It's clear privacy is a hot topic for them. I wonder how this move will impact the future of AI chatbots in Europe… What do you think?”

"More layoffs hit with Microsoft laying off their entire AI ethics and society team! This one is huge and different. It's like they took the driving instructor out of driver's ed! I wonder how this will impact the responsible development of AI tools moving forward?"

"Did you hear the news? Microsoft's Bing AI chat is now on SwiftKey for Android, making texting and searching a breeze. Meanwhile, my friend with an iPhone is still waiting for Siri to understand their accent. Android users be like: 'Ask Bing, not Siri!'"

"Looks like Midjourney's free trial got 'image-napped' due to users creating throwaway accounts for free images after that viral video in China. Talk about a surge in demand!"

“Get your game face ready… because AI can detect your feelings in real-time through facial expressions! Can you imagine what dating would be like if you had special “feeling” detectors on your first date?”

The Results are in:

Last week we asked readers, Which industry do you think will benefit the most from AI in the next 5 years?

• 45% think that finance industry will be the most benefited from Artificial Intelligence.

What do we think? AI has transformative potential in industries, with finance as a major beneficiary. PwC predicts $15.7 trillion contribution by AI to the global economy by 2030, with finance leading. AI-driven solutions optimize financial processes, uncover cost-saving opportunities, and enhance risk management. Accenture shows up to 60% reduction in finance operation costs, McKinsey estimates 15% logistics cost reduction, and 35% inventory reduction through AI-enabled supply-chain management. Deloitte suggests AI can cut fraud losses by up to 40%. AI is a game-changer for finance!

Poll of the Week:

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