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🤓Use of AI in your Business
_{Insights from Information Week}

ChatGPT, despite the controversy it has recently stirred, presents a plethora of applications that can revolutionize business operations. Here's how various industry leaders are utilizing ChatGPT to enhance efficiency and drive growth.

Efficient Document Generation: Jeff Wong from EY foresees businesses harnessing ChatGPT for quicker, more efficient document creation. From crafting detailed financial analyses to generating sophisticated hedge fund algorithms, the technology's human-like processing is a game-changer, promising untapped potential.

Comprehensive Text Summarization: Vladimir Lukic of Boston Consulting Group highlights ChatGPT's ability to distill vast volumes of text into concise summaries, a transformative utility in managing and extracting insights from extensive records, such as interview transcripts or lengthy reports.

Simplified Database Interactions: Alex Jenkins from WADSIH points out that ChatGPT's proficiency isn't just limited to text; it can formulate complex database queries, like extracting specific patient data, which traditionally required specialized expertise, thereby significantly cutting down the response time.

Prompt-based Coding: Muddu Sudhakar of Aisera recognizes ChatGPT's promising role in software development. The technology can translate plain language descriptions into functional code, streamlining the coding process, and making application development more accessible and efficient.

Streamlined Social Media Management: Carnegie Mellon's Clara Burke suggests that ChatGPT is a boon for individuals managing their social media platforms, especially those needing consistent content output. The technology can assist in drafting posts or video scripts, particularly beneficial for small business owners.

Innovative Idea Formulation: Wayne Butterfield of ISG sees great potential in ChatGPT's idea generation capabilities, especially in remote work setups. Tools like WriteSonic or Jasper.ai that integrate ChatGPT can enhance brainstorming sessions, compensating for the lack of in-person interactions.

Optimized Job Listings: Phenom's Cliff Jurkiewicz emphasizes ChatGPT's potential in HR, particularly in crafting precise, inclusive, and SEO-friendly job descriptions. The technology's analysis and language generation capabilities can vastly improve recruitment processes.

Dynamic Web Content Creation: Vijay Talreja of Apexon underscores ChatGPT's role in digital spaces, aiding businesses in keeping web content engaging and up-to-date. From personalized customer interactions to real-time content updates for promotions, its applications in digital marketing and omnichannel retail are extensive.

In sum, ChatGPT's applications are vast and transformative, offering businesses myriad tools to enhance operations, creativity, and engagement strategies. Its potential extends beyond just content creation, touching various aspects of business processes.

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 👉 The Lack of Transparency in Major AI Models: A Stanford Study

Stanford's HAI released the Foundation Model Transparency Index, evaluating transparency levels of popular AI models. Meta’s Llama 2, BloomZ, and OpenAI’s GPT-4 were assessed, yet none scored significantly high. The assessment included 100 indicators, examining model construction, functionality, and usage information. While Meta, BloomZ, and GPT-4 scored relatively higher, none disclosed societal impact details, such as handling privacy, copyright, or bias concerns.

Here’s the detailed report:

1️⃣ Meta Leads in Basics:

Meta’s Llama 2 scored 54%, excelling in fundamental model insights.

2️⃣ OpenAI’s Paradox:

OpenAI’s GPT-4 ranked high despite limited research release, due to extensive public data on its integrations.

3️⃣ Societal Impact Oversight:

None of the models' creators addressed societal impact concerns, creating a transparency gap.

4️⃣ Regulatory Implications:

Proposed regulations like the EU’s AI Act might enforce transparent reporting, urging companies to be more open about their AI systems.

The Bottom Line:

This transparency gap underscores the need for comprehensive reporting guidelines, essential for responsible AI development and deployment.

📱 Apple may introduce ChatGPT-like AI in iOS 18

Apple plans to introduce generative AI to iPhone and iPad by late 2024, beginning with iOS 18. The tech aims to enhance Siri with complex task automation and deeper Shortcuts app integration. Emphasizing on-device data processing and privacy, Apple is treading cautiously in AI, aware of potential biases and "not-good uses." However, some analysts believe Apple lags behind competitors in AI.

🤖 70% of marketers are overwhelmed by AI advancements

A SOCi survey reveals that 70% of marketers feel overwhelmed by AI advancements, with 42% lacking formal training. The influx of new AI tools adds confusion for 44%. Monica Ho, CMO of SOCi, underscores the need for "continuous learning" and proper AI training. The study involved 317 U.S. B2C marketing professionals, 55% in decision-making roles.

🤖 OpenAI launches DALL-E 3 access

OpenAI's DALL-E 3, an advanced text-to-image generator, is now accessible for ChatGPT Plus and Enterprise users. Building on DALL-E 2, it debuted on Microsoft's Bing. Addressing past controversies, OpenAI has enhanced safeguards, promising better content and demographic accuracy. Their "provenance classifier" tool boasts 99% accuracy in detecting DALL-E 3-generated images.

📡 FCC approves ultra-fast Wi-Fi for AR & VR headsets

The FCC greenlit the use of the 6GHz band for tech giants, including Apple, Google, and Meta. The decision, championed by FCC Chair Jessica Rosenworcel, permits very low power operations across 850MHz, with conditions for higher power. This expansion may advance technologies like AR glasses. Meta's VP, Kevin Martin, lauded the move as pivotal for "next-gen computing."

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