Welcome to Another Issue of
AI for Business

And it’s official—we're finally back! 🥳

Did you miss us and the bites of AI knowledge we always share to help you better understand AI and how you can leverage it to your business advantage?

Your cravings will now be satisfied.

Feeling excited?

Let’s get this started! 👇

📢 Quick Announcement

If you’re already part of our FB group, you probably already know we’re making all 3-days of our AI For Business Live recordings available for a low fee. (We’ll let you know when it becomes available!)

Exclusive: We’re running a bonus of giving free access to those who attended AI For Business Live—all you need to do is submit your video testimonial and share your experience with everyone!

Warning: Devin Might Just Replace Your Entire Engineering Team – And Here’s Why You’ll Love It!

What happened: Cognition Labs just introduced the world's first fully autonomous AI software engineer of its kind—Devin.

This AI is not just a new tool but a game-changer and possibly the closest thing to AGI! Just wow! 🤯

What it can “currently” (yes, I do believe this would even get crazier, lol) do:

• Devin has the ability to execute complex engineering tasks as it’s equipped with long-term reasoning, planning and problem-solving.

• Capability to collaborate with users, adapt to feedback, and learn from interactions.

• Skills to learn new technologies, build and deploy applications, find and fix bugs, train AI models, and contribute to open-source projects.

• Devin is currently available for early access, inviting collaboration from the engineering community.

And not just that, Devin had also resolved 13.86% of real-world GitHub issues on the SWE-bench coding benchmark without any assistance—a feat that significantly outpaces previous models.

How it might impact you: For businesses, particularly in the tech and software development sectors. It’s ability to autonomously debug and maintain code could also significantly reduce the time and cost associated with software maintenance that you use in your operations.

How you can take advantage of it: You can take advantage of Devin by integrating it into your software development processes, particularly for projects that require rapid prototyping, extensive testing, or ongoing maintenance.

It can also allow you to undertake more ambitious projects without the need for large increases in human resources, like hiring a software developer or engineer.

The Claude 3 Trinity is Finally Complete!

What happened: Anthropic has a brand new AI model called Claude 3 Haiku and it's kind of a big deal! They're billing it as the fastest and most cost-effective option in their top tier of intelligence models.

Key features:

• Three times faster than its counterparts, ideal for analyzing large datasets and enhancing customer support with timely outputs.

• Extensive document analysis at half the cost of similar performance models.

• Available through the Anthropic API and for Claude Pro subscribers, with availability on Amazon Bedrock and upcoming on Google Cloud Vertex AI.

Claude 3 Haiku joins the existing Claude Sonnet and Claude Opus models in Anthropic's Claude API. If you're a Claude 3 Pro subscriber, you can start using this new Haiku model right away.

How you can take advantage of it: To capitalize on Claude 3 Haiku's capabilities, start by integrating it into your data analysis and customer support frameworks.

Leverage its speed to process and analyze large datasets in real-time, enabling more informed decision-making and quicker response times to customer inquiries.

Is it better than ChatGPT now?

Speaking of ChatGPT… Did you know that GPT plugins have gone away?

The "Generative AI Gap" Hitting 91% of Businesses—Don't Be One of Them!

What happened: A survey conducted by MIT Technology Review Insights and Telstra, which included over 300 business leaders globally, reveals a significant gap between the potential of generative AI and its current adoption in the business sector.

Deets:

• Most early adopters have implemented generative AI in specific business areas, planning significant expansion within the year.

• However, challenges such as IT infrastructure inadequacies, regulatory concerns, data privacy, and a lack of necessary skills are hindering rapid adoption.

• 78% of respondents view generative AI as a competitive opportunity, expecting it to disrupt their industries within five years.

• Despite high interest, widespread use of generative AI in businesses is low, with only 9% of leaders reporting significant use.

What you need to do: If you’re part of the remaining 91%, you should focus on these three critical areas: upgrading IT infrastructure for AI integration, creating strong AI governance and security frameworks, and investing in talent development.

How global organizations are applying AI in tangible ways and seeing results.

Get inspiration from business and organizations that are strategically leveraging AI in their operations.

1. ✨ Revolutionizing Fashion with AI

Move: Stitch Fix, a personal styling service, is stitching AI into the very fabric of fashion's future. The company ingeniously combines AI with data science to forecast fashion trends and make informed inventory decisions.

Action: Using AI-driven tools that simulate future inventory needs and predict demand up to a year in advance can help your business optimize its stock levels, improve customer satisfaction, and ultimately achieve superior stock-to-sales ratios.

2. 📊 Improving Predictions, Matchmaking and Analytics

Move: With the goal of having a perfect March Madness bracket, NCAA bracketologists are going next-level by teaming up with AI to level up their prediction game.

They're utilizing AI to assess the winning probabilities of teams, blending the precision of algorithms with the unpredictable nature of sports.

Action: This kind of AI capability could also be useful for businesses to create more informed decision-making while keeping in touch with the unpredictability of human behavior and market dynamics.

 3. 🔄 Streamlining operations

Move: China is integrating artificial intelligence into the management of the world's largest high-speed railway system network—the biggest of its kind on the planet.

The AI system is designed to predict potential faults and issue preemptive warnings, significantly improving both the efficiency and safety of their railway operations.

Action: Industries ranging from public transport to supply chain management should leverage AI's predictive capabilities to foresee and mitigate potential issues before they escalate, ensuring smoother, safer, and more reliable operations. 

(Our Top 5 Weekly AI Picks)

Next-Level AI Tools for Modern Businesses

• Reallusion: Create custom MetaHumans that is fully controllable and with unmatched likeness.

• Arcads: Craft winning ads for promoting your product or business using AI Actors.

• Deepgram: Lightning Fast Text-to-Speech for Voice AI Agents.

• Piktochart: Turn any idea into a professionally designed infographic, poster, banner, and more in seconds, tailored to your brand’s voice

• OneCliq: AI that will help you move in the right creative direction on social media.

Thanks for the support!

Join our private AI group on Facebook and explore more resources and get involved with our community 🤓 

Don't hesitate to hit 'Reply' and share your insights with me!

Have a productive week,

Brian Hanson

CEO / Founder

AI For Business

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