Do startups need AI to thrive? 🧐

🏦 AI's impact on Venture Capital, Apple’s plans to spend $1B on AI, and reviewing an all in one AI content tool

Author

Everyday AI
October 23, 2023

Outsmart The Future

Today in Everyday AI
6 minute read

🎙 Daily Podcast Episode: AI is running the US economy. So how will AI affect Venture Capital and startups? What does the investment landscape look like now that GenAI is so commonplace? Give it a listen.

🕵️‍♂️ Fresh Finds: A personal time tracking app with analytics, Japan working on AI guidelines, and DALL-E 3 generating images of children smoking? Read on for Fresh Finds.

🗞 Byte Sized Daily AI News: Apple’s plans to spend $1B on AI, Britain’s AI summit is disappointing, and Microsoft's $32B Australian Investment. For that and more, read on for Byte Sized News.

🚀 AI In 5: Looking for an all in one AI content creation tool? Narrato AI Content Genie seems to claim it can do just that. Does it stand up to the competition? See here.

🧠 Learn & Leveraging AI: If you’re a startup looking to make the jump to using GenAI in your daily operations but don’t know where to start, we’ve got you covered with insights from an expert in the space. Keep reading for that!

↩️ Don’t miss out: The future of AI in HR, MI5 and FBI warn of terrorists using AI, and creating custom videos with the Capcut ChatGPT plugin. Check it here!

AI in VC - Changing the Investment Landscape 🏦

With AI currently running the US economy, how will it affect venture capitals?

Are VCs only going to be investing in AI? Should you add AI to your startup?

Leon Eisen, PhD, Venture Partner of Network.VC, joins us to talk about the future of AI in the investment landscape.

Also on the pod today:

• AI's impact on startups ⬆️
• What AI tools are VCs using? 🛠️
• Will AI help or hurt us? 🤷

It’ll be worth your 30 minutes:

Listen on our site:

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Upcoming Everyday AI Livestreams

Tuesday, October 24th at 7:30 am CST ⬇️

Here’s our favorite AI finds from across the web:

New AI Tool Spotlight – Reclaim is a personal time tracking app with analytics, PDFMonkey lets you automate your PDF generation, and Fuyu-8B is a multimodal architecture for AI agents.

Trending in AI – OpenAI’s latest DALL-E 3 is trending for generating an image of children smoking cigarettes. Yikes.

AI in Society - Japan is working on guidelines to tackle over reliance on AI technology and stop biased data.

Big Tech – Last week Nvidia and Foxconn announced their partnership for AI factories. It looks like their first move will be creating software for self-driving cars.

Read This – NYC Major Eric Adams is using Eleven Labs' Voice Lab to create his own AI voice for multilingual robocalls to city residents.

1. Britain's AI Summit: An Uneventful Debacle? 🇬🇧

Britain's big AI summit has not gone as well as people hoped. Critics are calling it a "doom-obsessed mess," focusing more on apocalyptic AI scenarios than practical applications. While it's crucial to discuss AI's ethical dilemmas, the overwhelming gloom at this event has left attendees questioning its real-world value.

2. Apple's Big AI Bet: $1 Billion a Year in Catch-Up Efforts 🍏

Apple isn't holding back in the AI race, committing a whopping $1 billion annually to enhance its AI capabilities. This isn't just a spending spree; it's a strategic move to catch up with tech giants like Google and Facebook. With AI reshaping the tech landscape, Apple's hefty investment marks its determination to stay in the game.

3. Microsoft's $32B Australian Investment 🇦🇺

Microsoft is making major financial moves in Australia, planning to invest $32 billion even as new AI regulations loom. This isn't just about expanding their market presence; it's a strategic nod to Australia's growing tech ecosystem and a show of confidence amidst the uncertainties of impending AI governance.

4. Apple's iPhone 16 Generative AI Plans 📱

The iPhone 16 is on the horizon, and it's bringing some serious AI firepower…hopefully. Apple’s AI plans have leaked and they are looking to make an ambitious jump. Think ChatGPT integration, advanced generative AI, and a whole new level of smart tech. This isn't just another iPhone; it's Apple's statement that they're diving deep into AI, transforming how we interact with our devices.

5. Snapdragon's 8 Gen 3 Leak: A Sneak Peek at AI Features 🤖

The specs for Snapdragon's 8 Gen 3 have leaked, and AI enthusiasts have plenty to be excited about. From enhanced on-device AI to supercharged processing capabilities, this chip isn't just an upgrade; it's set to redefine what smartphones can do. As AI becomes more integral to our tech, Snapdragon is positioning itself at the heart of this evolution.

Narrato AI Content Genie Review 🧞

Today we're looking at Narrato AI Content Genie, an all in one GenAI tool for content creation.

There's a lot of AI tools out there for content creation, so what makes this one stand out?

Is it really a one-stop shop for all your GenAI needs?

Let's dive in and find out!

🤷‍♂️ What’s Going On and Why It Matters:

AI is changing everything — especially startups.

And for startups seeking funding from Venture Capitalists or Private Equity firms, they’re playing a brand new ballgame.

The old startup fundraising rules have kinda been thrown out the window.

So what’s a startup to do?

We tapped Leon Eisen for some answers. Leon is an inventor, entrepreneur and Venture Partner of Network VC.

If you’re not in the startup world, don’t worry. The advice that Leon shared is sound for people in all professions.

It’s worth checking out the whole episode, but here’s a high-level rundown of key insights Leon shared. 👇

- Whether startups still need large development teams or if leaner teams can compete more effectively

- Emphasis on the importance of AI optimization and minimizing spending for startup success

- Valuing startups with advanced development and technology

- Excitement and hesitancy among people about incorporating AI into everyday life

- The changing nature of the industry and the importance of AI integration

Now you see that AI isn’t just a buzzword for startups, right?

So how can we take these findings and put em to work for us?

Let’s give it the ol’ 1-2-3 treatment y’all.

🦾How You Can Leverage:

Should AI be everywhere in your startup?

Or, should you stick to your lane and not try and pump artificial intelligence into every corner of your biz ops?

If you wanna better set your startup up for VC success, you’re in the right place.

Leon Eisen walked us through the pros and the cons of AI in venture capital.

Here’s some best-practice advice from Leon on how startups can adapt to the ever-changing AI landscape.

(Don’t worry, these are all pretty applicable for non-startups, as well!)

1 – Hire with an AI mindset 💼

Leon noted that finding AI-savvy talent might be a challenge, but you can train them. Consider bringing junior people onboard and nurturing their AI skills.

Creating a future-proof workforce is like planting seeds for success in an AI-driven world. Ya gotta always be planting!

Try this:
Easier said than done, right? We hear ya.

Part of hiring AI-savvy talent is also changing how you think about hiring. Here’s a simple guide from Forbes on how to better identify AI skills when hiring.

2 – AI should be running your biz 🏃‍♂️

Not like, ‘Hey robot, run my biz.’ Instead, Leon laid out the basics for how startups (and others!) should be leveraging AI into their daily operations. Like what Leon said, it’s all about performance for startups.

Try this:
From sales and your CRM tool to marketing and customer service, Leon dished that startups HAVE to be using AI tools in their business operations and development. Need more insights? We goooooot you!

Check out our previous episode with Xiaochen Zhang, who laid out the GTM plan all startups need based on his experience at Amazon Web Services.

3 – Don’t forget your pitch ⚾️️

A rising problem for startups (and other companies!) need to keep their eye on? Their elevator pitch. As Leon and Jordan talked about, we can get over reliant on GenAI tech.

Leon reminds us not to overlook the human touch, especially when it comes to pitching your startup to potential investors. Don’t be all beep-bop AI talk, ya’ll!

Try this:
Leon emphasized the importance of founders being able to articulate their vision, showcase their expertise, and explain their decision-making process effectively. We couldn’t agree more.

Here’s the real talk: content and pitch decks are cheap. Even in the age of Everything AI, companies still need leaders that can connect with others and explain their vision in simple terms.

For some more tips, check out our growing list of episodes helping startups grow, and peep this Entrepreneur article on nailing your pitch.

Now This …

Switching back to AI news, do you think Apple will succeed in implementing AI into phones or has Google set the bar too high?

Hit us with a reply and let us know!

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