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☕️ Greetings. It's Tuesday, I'm excited to share some amazing AI news and updates with you today. Let’s dive in.
🗞️ Today’s Highlights:
LATEST NEWS & TRENDS — A recent poll by the AI Policy Institute revealed that 72% of American voters advocate for slowing AI development, challenging the stance of prominent tech leaders.
INDUSTRY | FUNCTION — Conversational AI in eCommerce: Chatbot Use Cases & Future Trends.
RESOURCES — 3 ways to upgrade continuous testing for generative AI.
WORK — AI and the Future of Work
AI TOOLS — Planful Predict: Elevate Financial Decision Making with Intelligent AI-Driven Insight
JUST FOR FUN — Conversation between the Joker and Nietzsche generated by AI. Can AI possess human consciousness?
🤖 In the era of AI, traditional religious figures like Jesus are being reinterpreted through AI platforms. "AI Jesus" on Twitch, for example, offers 24/7 guidance, reflecting the evolving nature of spirituality in the age of artificial intelligence. As these AI-driven spiritual platforms grow, including chatbots delivering sermons in Germany or sharing Buddhist teachings in Thailand and Japan, it signifies our enduring tendency to reshape spiritual leaders in line with contemporary societal needs and contexts.
🗞️ LATEST NEWS & TRENDS
1️⃣ SaaS integrated with AI demands a shift from traditional pricing to usage-based models. Given the variable consumption of AI tools, accurate metering of both user activity and backend costs is crucial. Transparent, usage-based pricing aligns with value delivered, requiring companies to have precise billing systems and clear communication with customers about the benefits. Embracing this change maximizes the potential of SaaS + AI offerings.
Reference: (Monetizing generative AI for any SaaS company)
2️⃣ A recent poll by the AI Policy Institute revealed that 72% of American voters advocate for slowing AI development, challenging the stance of prominent tech leaders. While companies like OpenAI express openness to regulation, they've been noted for efforts to moderate such regulations. The AI Now Institute has proposed a "Zero Trust AI Governance" framework, emphasizing tighter AI controls and timely law enforcement. The public's growing skepticism questions whether tech advancements invariably lead to societal progress.
3️⃣ In June 2018, the release of GPT-1 signaled the start of notable advancements in AI language models, culminating in GPT-3's 2020 launch which revolutionized tasks from coding to creative content generation. By March 2023, GPT-4's capabilities, such as web page creation from mere scribbles, magnified both AI's potential and public concerns, while tech giants integrated AI into daily office work. Yet, with AI's rise came technostress, a unique form of stress due to the rapid tech changes, impacting employee well-being and job performance. Such stressors range from job security fears and outsized accountability to privacy concerns. To address these, organizations need proactive strategies, including clear communication, prioritizing explainable AI, and employee training, to foster a supportive and adaptive work environment.
Reference: (Six Ways to Ease AI-Induced Stress)
4️⃣ Congresswoman Anna G. Eshoo raised concerns about the biosecurity risks from dual-use AI applications in civilian and military sectors. The blending of AI with other technologies, termed "convergence," involves both direct technological interactions and broader impacts on the security landscape. Perspectives on this convergence vary, with some emphasizing its potential benefits and others highlighting its risks. As AI's role in various sectors grows, it's crucial to prioritize safety, fund research on convergence risks, and implement universal AI policies to ensure national and international security.
5️⃣ Market capitalization determines a company's value based on the stock market, calculated by multiplying a company's outstanding shares by its share price. This visualization showcases the top 50 publicly-traded global companies by market cap as of August 16, 2023. Apple, Microsoft, Saudi Aramco, Amazon, Alphabet, and Nvidia surpass the trillion-dollar valuation. Information Technology dominates with $9.3 trillion in market cap, followed by Consumer Discretionary ($4.0 trillion) and Health Care ($3.3 trillion). Geographically, the majority are U.S. companies. Switzerland, France, and China each feature three companies, including giants like Nestlé, LVMH, and Tencent.
Reference: (The 50 Most Valuable Companies in the World in 2023) Source: Visual Capitalist
🗞️ INDUSTRY | FUNCTION
Conversational AI in eCommerce
In 2023, the eCommerce industry has seen a surge in the relevance of chatbots and conversational AI due to changing consumer behavior and expectations. These technologies are now applied beyond customer service to various tasks. Here are key use cases:
Customer Loyalty Programs: Chatbots are used to automate customer engagement for loyalty programs, sending personalized messages, reviews, and price reminders.
Notification Bots: Conversational bots offer product alerts through messaging apps, avoiding account creation barriers and engaging users with updates.
Market Research and Feedback: Conversational AI gathers insights through informal chats, surpassing conventional surveys in engagement and ease.
Lead Generation/Nurturing: Chatbots automate lead outreach, creating segments and nurturing leads through the sales funnel with personalized content.
Business Messaging Bots: AI-powered messaging provides announcements, confirmations, coupons, and action-taking capabilities within the app.
External Points of Sale: Chatbots become points of sale, enabling shopping within messaging platforms, especially for low-cost products.
After Sales Service: Chatbots enhance customer service, providing immediate responses, 24/7 availability, and scalability.
The future of eCommerce trends in 2023 revolves around personalization and efficient scaling, where conversational AI plays a crucial role. This has led to increased chatbot use cases and innovative AI projects within the industry.
🗞️ RESOURCES
Generative AI tools, like ChatGPT and GitHub Copilot, are enhancing software development productivity by 20%-50%. However, as development speeds up, testing and quality assurance (QA) face challenges in keeping pace. Historically, testing has lagged behind development innovations. To address this in the AI-driven development era, three solutions are proposed:
Increase Test Coverage: Prepare QA for more AI-generated code and use tools for static and dynamic code analysis.
Automate Test Cases: Speedier feature building will necessitate more automated test cases, and AI can assist in generating these based on real user behaviors.
Scale and Manage Test Data: With test complexity rising, a more extensive and dynamic test dataset is needed. Using systems that rapidly generate virtual databases is essential.
In conclusion, as AI takes a more significant role in software development, it's crucial for DevOps and QA teams to amplify continuous testing efforts, with AI-powered testing platforms being key.
🗞️ WORK
Historical technological advancements, like the calculator and computer, have often led to job creation despite initial displacement fears. Similarly, while Generative AI stirs concerns about job losses, it's actually leading to new opportunities. For many professions, AI's role is evolving from task assistance to automation, but always with a strategic human element. As AI handles routine tasks, humans can focus on roles requiring strategy, mentorship, and personal relationships. Proactively understanding and integrating AI tools today can help in optimizing the future workforce.
Reference: (AI and the Future of Work)
🗞️ AI TOOLS
🔧 Planful Predict: Elevate Financial Decision Making with Intelligent AI-Driven Insight
🔧 Trullion: is an accounting oversight platform that uses AI to simplify revenue recognition, lease accounting, and audit workflows.
🔧 10Web: Launch and grow your business online with AI
🔧 Booke: Streamline your bookkeeping with an AI-driven single app
🔧 Durable: Build a website in 30 seconds with AI
🔧 Datarails: Get actionable insights with the AI-powered FP&A platform
Disclaimer: 1) The tool descriptions are from the company behind each tool/app. 2) Please read the site details thoroughly before using and/or acquiring any of the tools listed above. We have not tested these tools and we will not be liable for anything.
🗞️ CHARTS
Majorities across groups say they would not want to use an AI chatbot for mental health support. Source: Pew Research
State of AI Q2’23 Report. Source: CB Insights
🗞️ JUST FOR FUN
👀 AI Talk, is a YouTube channel that produces these interesting AI-generated videos.
Source: AI Talk (Conversation between Joker and Nietzsche generated by AI. Can AI possess human consciousness?)
Disclaimer: The audio-visual content is courtesy of the source provided above.
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I'm not a newsletter expert so you might find my approach a tad different. In my daily dives into the world of AI, I handpick the latest gems, initially to support the AI projects that I’m working on. Realizing that these snippets might resonate with others, I thought, "Why not share this with my community and fellow AI enthusiasts?" I truly want this newsletter to be valuable to you so if there's anything on your mind—praises, critiques, or just a hello—please drop me a note. You can hit reply or shoot me a message directly at my email address: [email protected].
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