The AI Impact Big 3
Meeting at the intersection of AI and practical use cases
Welcome Back to the new & improved AI Impact newsletter and thanks for signing up!
This is the Big 3 - a look at the biggest topics in AI this week and why it affects your business.
This Week: Planning Your First AI Project. Microsoft Integrates AI into the Enterprise, and of course….One Big Thing! (Can I Interest You in a Llama? 🦙)
One Big Thing: Meta Launches Its ChatGPT Competitor…..Llama 2 🦙
Meta has unveiled LLaMA 2, its first large language model (LLM) that’s available for anyone to use—open source.
This is another challenger to #ChatGPT, the popular LLM released from OpenAI earlier this year.
LLMs are capable of generating text, translating languages, writing different kinds of creative content, and answering your questions in an informative way.
Why is this significant?
By releasing LLaMA 2 for free, Meta is hoping to attract developers and businesses to build new products and services on top of its technology.
Significant impact on market - It is more advanced than previous AI models and could be used to create a wide range of new applications.
Growing competition - Big investment happening in AI research.
My Two Cents: This is yet another sign AI is becoming more accessible, and will be driving more real-time use cases moving forward.
2. Your New Copilot
If you spend any time reading my content on social media (and hopefully here in the future), you know that AI is all around us, both personally and in the workplace.
A key development is the continuing growth of Generative AI and its availability in the marketplace for everyday use.
What happened? Microsoft announced its AI-powered Copilot will be integrated into Microsoft Teams for phone and chat as part of Microsoft 365 Copilot for an additional $30 per month.
Artificial intelligence has developed to the point where chatbots and virtual assistants can have more nuanced interactions with humans—and that opens a wealth of possibilities.
Features include real-time summarization and generation of key information from calls and chats.
Fun Fact: Microsoft stock surged by 6%, adding as much as $154 billion to their market cap. Nice work, guys.
My Two Cents: Employees are definitely looking to use AI tools to help them unlock creativity and productivity at work, as the article states. It will be fascinating to see how widespread adoption gets in the coming year or so. I already use LLMs for so much anyway (yes, sometimes to help me write), so the more integrated the better.
3. Planning Your First AI Project
Many business leaders now see the potential for AI in their organizations. If you’re reading this, you agree.
But what’s working? What can you begin to implement now? The short answer is to start small and look for little ways to build ROI.
Clearly define your business outcome: It’s not one-size-fits-all. This will vary depending on the business and goal.
Choose the proper approach: To achieve the results you want on the path of least resistance, you need to consider the challenges that come with the solution you ultimately choose – none are perfect.
There will be a learning curve: Stay patient.
Testing vs. Ready for Production: With new AI initiatives, be aware that a successful pilot project does not guarantee a successful production rollout.
My Two Cents: By taking these four criteria into consideration, you can choose the most impactful AI pilot project for your business. But, don’t forget about the most important component — DATA! More on that later…
Talk next week and thanks,
Brad
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