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The secrets to adding AI in your startup đ€«
How startups can innovate with AI, Google's AI search updates, fixing your headshot with AI and more!
Everyday AI
August 03, 2023
Outsmart The Future
Today in Everyday AI
6 minute read
đ Daily Podcast Episode: Does your startup (or company) need a lil AI boost? Weâll walk you through the challenges and considerations to keep in mind with a startup industry vet. Give it a listen.
đ”ïžââïž Fresh Finds: An AI voice assistant for the internet, Teslaâs new AI is almost complete, and a YouTuber is replacing himself with a digital clone. Read on for Fresh Finds.
đ Byte Sized Daily AI News: A new AI chip maker on the rise, Googleâs AI search got an update and Alibaba's Open-Sourced AI Model challenges Metaâs Llama 2. Read on for Byte Sized News.
đ AI In 5: Have a headshot that needs some fixing? Or maybe you need to change your appearance completely? We show you how.
đ Digital Drops Giveaway: Winner announced Friday!
More below
đ§ Leveraging AI 101: Todayâs episode was filled with so many good nuggets on startups and AI that it was impossible to keep up! So weâre breaking it all down for you. Keep reading for that!
â©ïž Donât miss out: Missed yesterdayâs newsletter? We got yâall with the rewind. We talked about how AI is shaping the healthcare industry, Instagramâs plans for AI labeling, and how you can create videos inside ChatGPT! Check it here!
How Startups Can Innovate with AI đ
So youâre a startup and realize you need to adapt to AI in order to catch up to the competition.
Like, you see how much that one AI-infused startup raised $113 million without a product? YIKES!
But, where to start?
Youâre in luck! Today we dive into the world of startups and how they can adapt to the rapidly evolving landscape of AI innovation.
Xiaochen Zhang, President of FinTech4Good and former Global Head of Innovation & Go-To-Market with AWS, joins us as we explore the challenges and considerations for founders when incorporating AI into their business offerings.
Join the conversation and ask Xiaochen and Jordan any questions you have about startups and AI here.
Also on the pod today:
âą Fintech and AI đ€
âą Startups and customer obsession đ„
âą Doubling down on AI investment đ°
Itâll be worth your 29 minutes:
Listen on our site:
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Listen on:
Upcoming Everyday AI Livestreams
Friday, August 4th at 7:30 am CST âŹïž
Hereâs our favorite AI finds from across the web:
New AI Tool Spotlight â HyperWrite is your AI voice assistant for the internet, Describely lets you create product content at scale, and Skill AI helps you generate a roadmap for any skill you want to learn.
Big Tech â Tesla is close to finishing the final part of its new AI for itsâ âFull Self-Drivingâ suite.
The Money in AI - Weâve mentioned it before, but AI isnât just a wave. Itâll have effects on the economyâs growth for decades.
Pop Culture â A big-name Youtuber is retiringâŠand he wants AI to take his place.
Future of Work â AI has already passed us in certain capabilities. So what jobs are next?
1. Tenstorrent's AI Chips are Raking in the Dough đ°
Canadian startup Tenstorrent is making waves in the AI chip market. They've just secured a cool $100 million from Hyundai Motor Group, a Samsung investment fund, and others. They're not just challenging Nvidia's dominance in AI chips, but also venturing into smart televisions and future Hyundai, Kia, and Genesis vehicles.
2. Google's AI Search is Now More Informative
Google's AI-powered Search Generative Experience (SGE) is stepping up its game, now featuring images and videos in its vibrant summary box. The integration of YouTube and the display of publish dates next to articles are just a few of the new features that are making SGE a game-changer.
3. Alibaba's Open-Sourced AI Model: A Meta Challenger? đ„
Alibaba is stepping into the AI ring with the big boys, launching its open-sourced AI model, Tongyi Qianwen, and potentially posing a challenge to Meta and OpenAI. Alibaba's move allows developers worldwide to create their own generative AI apps without the need for training their own systems, saving both time and money.
4. Tencent's Hunyuan AI Model: The Next Big Thing in AI? đ
China's tech giant Tencent is doing internal testing of its self-developed AI model, Hunyuan. Hunyuan is being integrated with a range of products such as Tencent Cloud, Tencent Meeting, and Tencent Docs, and even sectors like Tencent Games, Tencent Advertising, and Tencent Fintech are testing the waters.
5. Harvard Guru Says Every Shop Should Use ChatGPT đȘ
Harvard Business School's Karim Lakhani is urging small businesses to get on the AI train, specifically OpenAI's ChatGPT+. For a mere $20 a month, businesses can leverage this AI to scale their operations and grow their company. Lakhani says ChatGPT+ can handle customer contact, generate new business ideas, and act as a "super assistant" to handle the daily grind.
Use AI To Fix Your Headshot đž
Did that professional headshot get screwed up?
Family photo has one person gazing off into the distance?
Well, there's an AI for that. (Always is)
Today, we look at HeyPhoto, an AI-powered photo editor that can brush up your appearance, make you look younger (or older) and even change the gaze direction of your eyes.
Creepy or useful? Find out in today's AI in 5.
New Giveaway Coming SoonâŠ
Thanks to everyone who signed up for our last giveaway!
Winners will be announced during this Fridayâs show. So donât miss it!
đ€·ââïž Whatâs Going On and Why It Matters:
How can you use AI to grow your startup?
Or better yet⊠should you?
For anyone in the startup game, today's episode on innovating with AI is a must-watch/listen.
Xiaochen Zhang is the President of FinTech4Good, which grows and scales dozens of startups with AI. He also served as the Global Head of Innovation & Go-To-Market with AWS.
Yeah, thatâs Amazon Web Services â one of the largest and most innovative companies in the world. And yes, Xiaochen led Web 3.0-related innovation at one of the most innovative companies on the globe.
In other words, Xiaochen dished up a straight MASTERCLASS for startup founders on how to responsibly grow with AI.
Donât take our word for it. Look what Maybritt said in the comments of the livestream.
We got you, Maybritt.
Class is in session đ
đŠŸHow You Can Leverage:
Sheeeeeeeesh.
We could write a legit book on all the advice Xiaochen dished on how to innovate with AI. But, you signed up for a newsletter, not a book club.
Got you shorties.
So, letâs break down Xiaochenâs main talking points, and how startup founders can responsibly innovate and grow their companies with AI.
(ActuallyâŠ. checks notes ⊠just about anyone can benefit from the actionable insights below, so put your thinking cap on even if youâre not a startup founder.)
1 â Obsess over your customers đŁïž
Not just the money they may be paying you. (Or not paying you).
Instead, obsess over their thoughts of your platform, product or service. How your AI works for them. How your company can help them.
Xiaochen even talked about bringing in customers while creating a roadmap for your startup, and taking in their insights on the design and user experience.
Try this:
TALK to your customers. Like⊠talk with them. (Weâre actually just talking with 4 avid readers of this newsletter today, so we can understand our readers better!)
In the day and age of AI, itâs sooooo easy/tempting to automate everything. Use AI to better understand your customers, or machine learning algorithms to pinpoint where your company is falling short. Instead, obsessively talk to them.
2 â Develop with AI responsibly đšâđ»
Like Xiaochen said, AI is a double-edged sword.
As a startup founder (or anyone in a decision-making role, really), you have to know when to lean into AI tech and when to not overly rely on it. Consider the ethics behind the reason why you may want to incorporate AI.
As an example: is it a money-making decision that allows you to reduce staff, or will an AI implementation truly benefit the end user?
Try this:
If you happen to live in Chicago (or may want to visit our home base!) consider attending the Chicago AI Conference, put on by FinTech4Good. You can not only learn about more responsible AI development but also learn from some top notch speakers.
3 â Stay committed to your vision đ§ââïž
Just because you CAN use AI for something doesnât mean you should.
Donât get caught up in the buzz, whether itâs from potential funders or current customers. Maybe incorporating AI into your startup or company will be helpful. Maybe it wonât. Xiaochen reminded us that losing focus is the number one reason startups fail.
Try this:
If youâre going to incorporate AI, make sure you take care of #1 and #2 above, first. Then, try experimenting leveraging AI for your startup in high-win, low-cost scenarios.
In other words, to see if AI will make your startup more agile or impactful, first focus on an easy-to-implement area that has a way to measure the return. Donât try and re-haul your entire startup JUST to see if AI can improve things. Start small, measure, and repeat.
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