Believe it or not, the word artificial intelligence (AI) was coined in 1956 by John McCarthy, an American computer scientist, at the first AI conference.
By 2023, we have entered an exciting new era in which AI, powered by strong machine learning algorithms, is on everyone's mind. AI has progressed from a technological jargon to a game changer in people's lives. You don't want to be left behind as more small businesses and startups embrace AI technology to fuel their growth and success.
If you are looking for the best AI tools for startups and small businesses to simplify and optimize your workflow and operations, here are some AI tools that will not only get the job done, but will also increase your business's productivity and profitability!
Google's Product Studio
E-commerce listings with eye-candy appeal, similar to engaging in-store displays, are now table stakes for all types of businesses and critical to generating sales. Google's Product Studio, a tool that uses generative AI, responds to corporate complaints that developing high-quality lifestyle and product photos is time-consuming and costly. Businesses can use its Scene Generation tool to select a product image, give a description of a scene, such as a tube of exfoliating scrub on a stone platform, with tropical plants in the background, and the program will summon the image of, say, an eBalm Honey & Peach exfoliating scrub.
Product Studio, according to the company, would enable businesses of all sizes to swiftly and easily produce fresh graphics based on their ever-changing marketing demands, right from where they already manage their Google presence.
All businesses have to do is use Product Studio to generate photos that will appear not only on Google, but also on their own channels throughout the web - delivering Google's unique expertise to brands at scale and assisting them in growing their business.
AWS’ Amazon Bedrock
Amazon Web Services (AWS) has launched Amazon Bedrock, a new service that provides numerous foundation models to allow businesses to build and create their own generative AI applications, including programs for widespread commercial usage.
Amazon Bedrock makes foundation models from AI21 Labs, Anthropic, Stability AI, and Amazon available to consumers via an API. Amazon Bedrock can be used to select the best model for different use cases and then tweak it using enterprise data sets before integrating and deploying it into their apps with AWS tools.
The service was launched just one day after Databricks announced Dolly 2.0, an open-source-based large language model (LLM) with a similar strategy: to assist enterprises in overcoming the constraints of closed-loop models (like ChatGPT) that prevent them from developing their own customized generative AI applications. Closed-loop, trained foundation models prevent businesses from developing generative AI that competes with the original.
Microsoft’s Dynamics 365 Copilot
Dynamics 365 Copilot from Microsoft is a new AI solution designed to perform a variety of business activities. Dynamics 365 Copilot leverages current advances in generative AI to automate these time-consuming processes and unleash the full potential of the workforce. Dynamics 365 Copilot, according to Microsoft, can assist in writing email responses to customers, drafting answers to inquiries for both email and chat, and creating an email summary of a Teams meeting in Outlook. The application can also be used to quickly create online product listings and to notify users of supply chain challenges such as weather.
This is not the first time Microsoft has used the term copilot in reference to its artificial intelligence technologies. When Bing unveiled its AI integration in February, the firm stated that the search engine is now an AI-powered co-pilot for the web. This term suggests that the user, not the AI, is driving the search – or the business tasks Dynamics 365 Copilot will perform.
OpenAI’s DALL-E
AI art generators are now being utilized to assist businesses and people in creating unique graphics in a matter of seconds based on text instructions. These art generators generate innovative images based on your specific image requirements.
As we approach the Web3 revolution, the desire for better photography has increased. This has resulted in a positive progress in the field of Generative AI.
DALL-E is leading the way. It is a breakthrough image generation application that generates original, realistic, or comic graphics from your text commands in seconds. Simply enter your prompts, and your image will be magically ready in a few seconds. It's simply amazing. DALL-E was created by utilizing complicated Deep Learning techniques, which entail vast volumes of Data on which AI is trained to do a certain task. Let's go back to the basics.Tools like DALL-E will revolutionize image creation since they can produce high-quality realistic images while being simple to use. The AI-generated photos give an interactive platform for businesses to create high-quality mass photographs all at once.
Oracle to Introduce Generative AI Services
Through a new agreement, Oracle said that it will provide generative AI services to enterprise customers worldwide, based on Oracle's cloud computing architecture. Oracle will collaborate with Cohere, a Canadian AI firm that uses large language models (LLM) to help enterprises build AI solutions. Cohere will train, build, and deploy generative AI models on Oracle Cloud Infrastructure, which the company claims will help accelerate LLM training while lowering costs by leveraging Oracle's high-performance GPU cluster and a high-bandwidth cloud network. The tools will assist clients in a range of industries in tailoring data and generative AI to their specific requirements.
Chatbots, customer relationship management (CRM) systems, and predictive analytics are all examples of how AI technology may benefit small businesses. Chatbots can handle client queries, orders, and complaints, allowing people to focus on more difficult work. CRM software can be used to track customer contacts, manage leads, and streamline sales processes. Based on data trends and patterns, predictive analytics can assist small business owners in making educated decisions.
Lastly, the emergence of AI technology in the small business environment has leveled the playing field, allowing small enterprises to compete with larger corporations. Small businesses that want to streamline processes, increase productivity, and improve customer satisfaction must use AI technology. Small firms may enhance productivity, save time, and raise profitability with the right AI solutions.