Industry Insights & News:

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

• Fractal AI has launched a new generative AI tool called Flyfish that is changing eCommerce for small businesses.

  • TL;DR - In the past, small businesses had to rely on manual methods to personalize shopping experiences, track buying patterns, and gain sales insights. Flyfish changes all of that. Your customers want personalized experiences. By using targeting marketing you’ll see an increase in customer happiness and sales.

• OpenAI is planning to launch an app store for AI software. This could be a major opportunity for small businesses to access and use AI-powered tools and applications to improve their operations and customer service.

  • TL;DR - In today's competitive marketplace, small businesses need to find ways to differentiate themselves from their competitors. AI-powered tools and applications can help do that.

• YouTube has introduced a new tool that uses AI to automatically dub videos into different languages. This is a valuable tool for small businesses that want to reach a global audience with their videos.

  • TL;DR - With over 2 billion active users, YouTube is the second most popular website in the world. This means that there is a huge potential audience for small businesses. Start creating video content to reach a wider audience and grow your business in ways you couldn’t before.

• Amazon Is Spending $100 Million to Teach Cloud Customers About AI. The center will connect customers with company experts in AI to build customized applications for clients in various industries.
  

  • TL;DR - Amazon's investment in AI highlights its growing accessibility and affordability. This opens up opportunities for small businesses to explore AI's potential. Here are some tips: Identify specific problems your business faces and use AI to solve them. Embrace new ideas and be unafraid to experiment. Collaborate with experts who can assist you in getting started with AI. Our Business AI Toolkit will help you take the first steps.

AI Business Boosters

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

• Wondering how your Sales & Marketing team can start using AI? Check out this list of 9 Ways That ChatGPT Can Help Content Creators.

• Is your sales team spending too much time on repetitive tasks? Check out the Best AI Sales Assistant Tools for 2023.

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

• Fundraising is hard enough, learn How To Boost Business Funding Efforts With GPT Technology, and use AI to build a list of prospective investors who are the ideal fit for your business venture.

• One way to signal to investors that your company is serious about AI is to find any link between your business and AI. Consider using AI in your name, or develop an AI-powered product or service, or partner with an AI-focused company.

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

• We’ve been talking about the new AI Consultant role. HPE is here to be that for your business, as Your Strategic Partner for AI implementations.

• You already know that AI can improve customer satisfaction and loyalty, but did you know that it can also help grow your revenue by 50% year-over-year? Here’s How Hungryroot used AI to turn their company into $250M business.

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

• As a small business owner, you know that security is important. You want to protect your customers' data, your financial information, and your intellectual property. Here is how AI can help make this less time-consuming and less expensive.

• An open source code review tool just dropped. Robin AI leverages OpenAI’s GPT platform to review code changes and provide constructive feedback.

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

• New job descriptions are coming due to the rise of AI and its integration into business operations. Read more about new roles that businesses need, and how current roles will be impacted.

• Is your team zapping between multiple digital communication platforms and channels? Meet TheGist, a cross-app hub that tell your team what’s important and needs attention, so users can make informed and timely decisions in the digital workplace

What’s new with AI Regulation?

Considering this hot topic is going to be around for a while, we’ve added a new section to cover the highlights of what you need to know each day, if you’re into that.

• US President Biden meets with AI experts in effort to manage its risks.

• The Australian Government is now calling for submissions to assist in formulating regulation on the use and deployment of AI.

• New York City has emerged as a modest pioneer in A.I. regulation.

• OpenAI lobbied the EU to avoid harsher AI regulations.

Kickstart Your Week

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

"Did you hear about the California restaurant that got fined $140,000 for hiring a fake priest to get confessions from employees?! Apparently, the restaurant was trying to pressure employees into confessing to "sins" that would have gotten them fired. The employees were told that if they didn't confess, the restaurant would report them to immigration authorities.”

"Did you hear? The Recording Academy now only accepts humans for Grammy Awards, no AI-created music allowed. However, music with at least 20% human input can still qualify in some categories… What do you think about this mix of AI and human creativity?"

"Did you know that Mercedes-Benz is testing ChatGPT, as a voice assistant in their cars? It allows drivers to have conversations, get destination details, find new dinner recipes, and answer complex questions—all while keeping their hands on the wheel and eyes on the road. Drivers can join the program by saying, 'Hey Mercedes, I want to join the beta program.' How cool is that?"

"Have you heard? OpenAI has plans to launch an app store for AI models! Developers will be able to sell their AI models built with OpenAI's technology. Of course, there are a few things to consider, such as exclusivity, support tools for developers, scams, and control and supervision. But it's still a fascinating topic that sparks thoughts about the future of AI and its marketplaces. What do you think about all of this?"

"Hey, have you heard? OpenAI managed to sway the EU AI Act with their lobbying efforts. They pushed for less stringent safety rules for general-purpose AI systems like ChatGPT, arguing that only high-risk applications should be regulated—and they got their way! The final draft doesn't categorize systems like ChatGPT as high risk. What are your thoughts on this and how might it shape AI regulations?"

Prompt of the Week

Use this prompt to guide your ChatGPT conversations towards better business outcomes, making them more efficient and accurate.

Effective risk management identifies threats, develops contingency plans, and ensures business continuity. It proactively mitigates risks, enabling companies to adapt and serve customers during unexpected events. Prioritizing risk management safeguards interests, protects reputation, and sustains success."

And that's where today's prompt comes into play:

The Results are in:

Last week we asked readers, Do you share private data with AI chatbots?

• 60% said “Only if I am confident in the chatbot’s security measures.”

What do we think? We agree. Knowing our personal data is safe when interacting with AI-powered chatbots and systems helps us feel better sharing information. As a small business owner, here's the key: Ensure robust security measures for your AI systems. It's not just about ticking boxes or meeting standards. It's gaining a competitive edge. Protect customer data, build trust, boost your reputation, and form lasting relationships. Need help getting started? Check out our AI Audit Workbook.

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