AI in Business
The AI in Business podcast brings together the latest news for stressed and stretched CEOs, senior leaders and entrepreneurs, and delivers it in bite-sized, understandable pieces. Each week we interview guests who have real-world experience of using AI to further their businesses, and we intersperse those episodes with AI news that leaders can use immediately to grow their business and their teams.
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News 13th November 2024
11/12/2024
News 13th November 2024
Welcome to the AI in Business podcast. In this show we talk about how leaders and entrepreneurs can benefit from not only the implementation of AI, but also the innovation and growth in creative thinking that comes with it. At Aimegos we have seen time and time again how this growth in creativity creates results that directly impact on your bottom line—in a very positive way. I'm your host, Lee Hopkins. Today we have some news that will be of importance to you and the team of creatives you assemble to figure out why and how you are going to implement AI. ----- Global AI market value surpasses $196 billion, projected to grow 13x in 6 years The AI industry is experiencing explosive growth, with the global market now valued at over $196 billion and expected to increase by more than 13 times in the next six years. This rapid expansion presents significant opportunities for Australian businesses to leverage AI technologies, potentially boosting productivity, streamlining operations, and gaining a competitive edge in the global market. Netflix generates $1 billion annually from AI-powered recommendations Netflix’s use of AI for personalised content recommendations is generating $1 billion in annual revenue. This demonstrates the substantial financial impact that AI can have when applied to customer experience and engagement. Australian businesses across various sectors can learn from this example, exploring ways to implement AI-driven personalisation to enhance customer satisfaction and drive revenue growth. AI adoption by organisations set to expand at 36.6% CAGR between 2024 and 2030 The rapid growth of AI adoption by organisations is expected to continue, with a projected compound annual growth rate (CAGR) of 36.6% from 2024 to 2030. This trend underscores the importance for Australian business leaders to stay informed about AI developments and consider how they can integrate AI solutions into their operations to remain competitive in an increasingly AI-driven business landscape. Japan unveils $65 billion plan to boost chip and AI industries The Japanese government has announced a $65 billion investment plan to strengthen its semiconductor and AI industries by 2030. This significant commitment highlights the growing global focus on AI and related technologies. Australian business leaders should take note of this trend, considering how they can position their companies to benefit from similar initiatives and potential partnerships in the Asia-Pacific region. 83% of APAC C-suite executives rank generative AI among top three business priorities A recent study reveals that 83% of C-suite executives in the Asia-Pacific region consider generative AI as one of their top three business priorities. This widespread recognition of AI’s importance in the business world emphasises the need for Australian leaders to educate themselves about generative AI and explore its potential applications within their organisations to stay competitive in the regional market. Google Maps receives its biggest AI update, enhancing navigation and exploration features Google has implemented its largest-ever AI update to Google Maps, introducing more complex query capabilities and AI-curated answers for location-based questions. This development showcases how AI is transforming everyday tools used by businesses and consumers alike. Australian entrepreneurs and executives should consider how similar AI enhancements could improve their products or services, potentially opening new avenues for innovation and customer engagement. --------- Well, that wraps up this episode of the AI in Business podcast. Subscribe to our podcast on your platform of choice and we'll jump into your feed in a week's time. Until then, take some risks because you never know what will pay off, and let us help you revolutionise your business with people-first AI. Until next week, bye...
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News 5th November 2024
11/04/2024
News 5th November 2024
Welcome to the AI in Business podcast. In this show we talk about how leaders and entrepreneurs can benefit from not only the implementation of AI, but also the innovation and growth in creative thinking that comes with it. At AiMegos we have seen time and time again how this growth in creativity creates results that directly impact on your bottom line—in a very positive way. I'm your host, Lee Hopkins. Today we have some news that will be of importance to you and the team of creatives you assemble to figure out why and how you are going to implement AI. ********************** Firstly, Open AI has launched ChatGPT Search, a direct competitor to Google Search, and a competitor to the free version of Perplexity. With ChatGPT Search you can get fast, timely answers with links to relevant web sources, which you would have previously needed to go to a search engine for. This blends the benefits of a natural language interface with the value of up-to-date sports scores, news, stock quotes, and more. Chats also now include links to sources, such as news articles and blog posts, giving you a way to learn more. OpenAI have created an extension for the Chrome browser so that ChatGPT Search—with your permission—becomes the default search engine. https://openai.com/index/introducing-chatgpt-search/ And while we are mentioning Google, Google's DeepMind team have just announced they are going to make available a watermarking tool. This will allow near-instant recognition of content that is created by artificial intelligence. Developers and businesses will get the first roll-out of the tool. https://t.co/n2aYoeJXqn Thirdly, KPMG is experimenting with AI agents — software tools that can be programmed to perform tasks on behalf of the user — as the Big Four accounting and consulting firm looks to become a leading early adopter of the technology, an executive said. The company has reportedly “prototyped and incubated” several agents, including one that is intended to support audit teams. https://www.ciodive.com/news/kpmg-testing-ai-agents/731431/ Lastly, there's a big rush by startups and other nimble players to create some tool in the Agentic space. What's 'Agentic', you might ask? Agentic AI refers to a class of artificial intelligence systems that are designed to operate autonomously, pursuing complex goals and tasks with minimal or no direct human supervision. These AI systems are capable of making decisions, planning actions, and adapting to dynamic environments based on real-time data and feedback. Agentic AI has several key components that make it so powerful, hence why the rush is on to get product out: 1. Autonomy: Agentic AI can function independently, initiating and completing tasks without constant human oversight. This allows it to handle complex workflows and decision-making processes, often in real-time environments. 2. Goal-Oriented Behavior: Unlike traditional AI, which typically follows predefined rules or responds to specific inputs, agentic AI is designed to pursue objectives proactively. It can set its own sub-goals and adjust strategies as needed to achieve broader targets. 3. Reasoning and Planning: These systems use sophisticated reasoning capabilities to break down complex tasks into smaller steps (a process sometimes referred to as “chaining”). They continuously assess their progress and adapt their plans based on new information or changing circumstances. 4. Adaptability: Agentic AI can dynamically adjust its actions in response to changes in its environment. This makes it particularly useful in scenarios where conditions are unpredictable or constantly evolving. 5. Learning and Improvement: Through techniques like reinforcement learning, agentic AI systems can improve their performance over time by learning from their interactions with the environment. Agentic AI is being deployed across various industries due to its ability to manage complex processes autonomously, such as * Robotics and Autonomous Vehicles. * Enterprise Automation: In business settings, agentic AI is used for workflow optimization, automating multi-step processes such as supply chain management or customer service operations. * Healthcare: Agentic AI can assist medical professionals by handling time-consuming tasks such as data analysis or treatment planning, allowing doctors to focus on patient care. * Customer Service: Intelligent personal assistants and chatbots powered by agentic AI provide personalized support by understanding user needs and responding proactively. You might remember back to our first AI in Business podcast where Gary Cooper discussed how bots could be revolutionised to actually be helpful, rather than their current frustratingly dumb state. https://aimegos.com/ai-in-business-podcast-001/ Well, that's a quick overview of what is happening in the world of AI and business this week. And that wraps up this episode of the AI in Business podcast. Subscribe to our podcast on your platform of choice and we'll jump into your feed in a week's time. Until then, take some risks because you never know what will pay off, and let us help you revolutionise your business with people-first AI. Until next week, bye...
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Kate Crocker: Ethical design in the age of AI
10/29/2024
Kate Crocker: Ethical design in the age of AI
In this conversation, Kate Crocker, an expert in dark patterns and AI, discusses the manipulative design tactics used on websites and apps that trick users into unintended actions. She explains the implications of these dark patterns for consumers, particularly in the context of data privacy and online scams. The discussion also covers how generative AI can inadvertently create dark patterns and the ethical considerations businesses must navigate when using AI. Finally, Kate highlights the upcoming regulations aimed at curbing dark patterns and promoting ethical design practices. Takeaways Dark patterns manipulate users into unintended actions. They exploit cognitive biases, leading to decision fatigue. Generative AI can create dark patterns that are hard to detect. Deepfakes pose risks of misinformation and privacy invasion. Informed consent is compromised by manipulative designs. Regulations against dark patterns are on the horizon. Consumers increasingly demand ethical practices in design. Dynamic pricing can exploit user behavior and preferences. AI's rapid data analysis can personalize dark patterns. Businesses have a unique opportunity to adopt ethical practices. Sound Bites "Dark patterns are designed tricks to manipulate users." "Dark patterns exploit cognitive biases and decision fatigue." "AI can easily create dark patterns that are hard to detect." Further resources (there’s a free downloadable information sheet on this page) Australia European Union dark patterns, AI ethics, consumer protection, legal design, ethical design, data privacy, generative AI, user experience, digital manipulation, online scams
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Bruce Welsh of 6PR interviews Lee Hopkins about AI
10/28/2024
Bruce Welsh of 6PR interviews Lee Hopkins about AI
In this episode of the Amigos podcast, Lee Hopkins discusses the transformative impact of artificial intelligence (AI) on businesses and individuals. He explores the evolution of AI, its current applications, and the potential future developments that could reshape industries. The conversation highlights the importance of understanding AI's capabilities, the necessity of quality input for effective output, and the implications of AI in sectors like healthcare and customer service. Lee emphasizes the need for businesses to adapt and leverage AI tools to enhance creativity, efficiency, and profitability. Takeaways AI has the potential to revolutionize business operations. The evolution of AI has made it accessible to everyone. Quality input is crucial for effective AI output. AI can significantly reduce costs for businesses. AI applications are expanding rapidly across various sectors. Healthcare professionals may need to retrain due to AI advancements. AI can outperform humans in customer service scenarios. Businesses should consider getting second opinions from AI tools. The cost of AI tools is decreasing, making them more accessible. Organizations must adapt to maximize the benefits of AI.
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Gary Cooper - AI lead regeneration and content specialist
10/23/2024
Gary Cooper - AI lead regeneration and content specialist
In this episode, Gary Cooper leads us through the world of AI and content creation. He shows us how it is not as simple as telling any AI engine to 'make me a book', or 'make me an image'. Instead, the power rests entirely on how you write your prompt. Like the computer coders of the 1970s knew—and lived and died by the word 'GIGO: Garbage In, Garbage Out'—so in today's AI world the creative individuals who can craft the best prompts bring their employers the best results. ------------------ Ever met a sheep-farming, copywriting, AI-powered entrepreneur? Meet Gary. His unconventional journey—from London bobby to Sussex farmer to French copywriter—has taught him that limitations are often just opportunities in disguise. With a unique blend of neurodivergent strengths and AI expertise, Gary’s passionate about empowering businesses like yours to overcome obstacles and achieve extraordinary success. He’s not just a problem-solver; he’s a catalyst for transformation, helping you to unlock your business’s full potential and drive growth in unexpected ways.
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