Here are five things in tech that happened this week and how they affect your business. Did you miss them?
1 – OpenAI launches GPT-4 API for everyone.
Research laboratory OpenAI announced on its Twitter feed that GPT-4 API is available to “all API paying customers.” For those immersed in open source artificial intelligence this is monumental as it will “give developers access to OpenAI’s LLM” (large language model) that can be applied to their own products. OpenAI plans to extend the API to new developers by the end of this month. The company will also begin to phase out older models – GPT3 – with plans to implement newer models after the new year. (Source: Ars Technia)
Why this is important for your business:
Although many of us have been playing with the ChatGPT interface, we’re only scratching the surface of what it can do. That’s because we’re just using external data scraped from the Internet (and cutting off in September 2021). The real power in generative AI is to use these tools with our company’s data to provide quick answers and eventually automate tasks. To do this we have to integrate ChatGPT and our databases. With the availability of the company’s API tools, and some developer assistance, we will soon really start seeing the value of AI.
2 – Study: TikTok loses popularity as an ecommerce search engine.
Online merchants take note – if you utilize TikTok as an advertising route you might want to reconsider. Danny Goodwin of Search Engine Land reported on a notable drop in the number of people who use TikTok as their go-to source for product searches. Citing a CivicScience study decreasing percentages have been seen in GenZ usage – from 18 percent in 2022 to 11 percent currently. The same for Millennials – 10 percent down to 5 percent. (Source: Search Engine Land)
Why this is important for your business:
Goodwin points out that across demographics, Amazon and Google are the two most used for product searches. In June, TikTok made news of its plans to invest billions in e-commerce in Southeast Asia. This is not to say that TikTok can be a valuable e-commerce platform for your business. But know that it’s less popular than other platforms so make sure you know your demographics.
3 – American Airlines solves a huge problem.
American Airlines has developed a technological resolution to a recurring headache – cancelled/delayed flights. The airline announced new software to tackle weather-related complications. “HEAT” (Hub Efficiency Analytics Tool) is a brand-new system designed to anticipate disruptions and “keeps customers moving when severe weather impacts our larger hubs,” as stated on the website. Gathering data through its analytics tool HEAT can also analyze and designate which flights to delay or cancel while minimizing systemic impact. The system has caught attention of American’s competitors. (Source: TheStreet)
Why this is important for your business:
The system is proprietary so I can’t describe the details. But it’s clear that American Airlines is leveraging AI to read, translate and evaluate real time information and then using that data to make real time decisions. We’ll be doing this in our businesses too – and saving a lot of time and money.
4 – Gmail brings in Calendly-style availability sharing from Google Calendar.
Google is merging its Calendar features with Gmail giving users optimized messaging when sending off an email that involves scheduling. In addition Stripe – the online payments system – can now be linked with your Google Calendar for paid appointments/up-front transactions. Additionally, a Stripe account can be created via Google Calendar. (Source: TechCrunch; PYMNTS)
Why this is important for your business:
Users will now see the Calendar icon in the bottom right corner of an email window with two options: Create an event. Offer times you’re free. With “Create an event” the event name is inserted into the subject line with recipients of the message added as participants (meeting descriptions will appear in the body of the email). The Stripe integration can make booking appointments and getting payments a much more seamless process.
5 – AnotherZero launches a game-changing all-in-one business management tool.
Consulting platform AnotherZero has released an impressive all-in-one operative tool for business owners. This business management tool allows new and established businesses to integrate and manage all aspects of their operation into a contained space. The service has established a global customer base with strong feedback. (Source: MarTech Series)
Why this is important for your business:
AnotherZero says it can eliminate a bunch of CRM, marketing, e-commerce and payment tools by combining all of this functionality into one platform. It’s intriguing and worth evaluating.
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