Welcome to Another Issue of
AI for Business

Phew! There’s a ton happening, but I make sure I curate the most valuable things you need to know, learn, and get inspiration from to take your business to the next level.

So without further ado, let’s get into it! 🔥

Read time: 4 minutes

Google Goes All In On AI With Gemini Workspace Upgrades and Gemma Model Launch

What happened: Google has launched Gemini Business and Enterprise, a new subscription plans offering AI-powered enhancements to Google Workspace productivity tools like Docs and Gmail.

Deets:

• Gemini Business is available at $20 per user per month with an annual subscription, while Gemini Enterprise offers additional features at $30 per user per month.

• Alongside, Google has also introduced its Gemma family of open-source AI models for developers and researchers to compete with it’s rival Meta's open source models and help Google gain new cloud users.

• With offers like $300 in free credits for first-time Google Cloud users and up to $500,000 in project grants for researchers.

How it might impact you: For businesses, this development signals a significant shift towards more integrated and sophisticated AI tools within familiar productivity suites. If you’re already using Google Workspace you may find these new offerings to be a compelling upgrade that would help improve your experience.

How you can take advantage of it: With the launch of the Gemma family, you can have an opportunity to develop custom AI solutions that cater specifically to your business needs. This could be particularly beneficial if you're looking to innovate or gain a competitive edge in the market.

But first... assess the new Gemini Business and Enterprise offerings to determine which plan aligns best with your organization's needs and budget.

Increased Use of AI in Hiring Comes With Risks of Overlooking Qualified Candidates

What happened: A CNN Business report highlights the increasing use of automation and artificial intelligence (AI) in the hiring process, specifically through applicant tracking systems (ATS).

In case you’re not familiar with it, these systems, designed to streamline candidate selection in most big companies around the world, have been found to mistakenly reject resumes from perfectly suited candidates.

How it might impact you: Businesses that utilize ATS for their recruitment processes might unintentionally overlook suitable candidates due to the limitations of these systems.

What you can do: For businesses relying on ATS for candidate screening, you may need to reassess your reliance on these systems and consider implementing stages in the screening process where resumes are reviewed by human recruiters, especially for roles requiring specific skills or experiences that may not be easily quantified by an ATS.

Remember, AI is just a tool to help; the regulation and effective use of it depend on your hands.

Adopt AI Now or Risk Falling Behind, Warns PwC's 2024 AI Business Predictions

What happened: PwC's 2024 AI Business Predictions report underscores the significant impact artificial intelligence, particularly generative AI (GenAI), is poised to have on business operations. The report, drawing from a survey, highlights that 73% of US companies have already integrated AI in some form, with GenAI adoption leading the charge.

Deets:

• It emphasizes the necessity for companies to move beyond isolated use cases of GenAI to fully leverage its potential for scalability and customization.

• PwC outlines several predictions for 2024, indicating that the right AI strategies could provide companies with a significant competitive edge.

How it might impact you: The widespread adoption of AI, particularly GenAI, is not just enhancing operational efficiencies but also redefining competitive dynamics. If your business is not yet leveraging AI or using it in limited capacities, you are putting yourself and your business at a strategic disadvantage that will make it a struggle to keep up with the pace of innovation and customer expectations in the next 2–3 years.

What you need to do: Take action. Assess your current use of AI and identify areas where GenAI can be integrated to drive value. This could range from automating routine tasks to enhancing customer experiences or even developing new products and services.

And most importantly... don’t forget to invest in training your existing staff and recruiting talent with the necessary AI expertise to navigate and capitalize on GenAI technologies. It may cost you now, but it will definitely cost you more in the future if you don’t act now.

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

Explore how global start-ups and organizations are leveraging artificial intelligence to transform industries, streamline operations, and forge innovative solutions.

1. 💪 Enhancing product and service features

Move: Quizlet is redefining the educational landscape by harnessing AI to transform the way students learn. Through its innovative Q-Chat feature, Quizlet utilizes generative AI to engage students in a Socratic dialogue, prompting them with thought-provoking questions that encourage deeper understanding and exploration of the subject matter.

Action: For those in the educational sector, consider how your educational tools or teaching strategies can incorporate AI to not only deliver knowledge but also inspire students to ask better questions and engage more deeply with their studies, encouraging them to stimulate curiosity and potentially enhance their learning outcomes.

2. 🚀 Accelerating Material Discovery

Move: Orbital Materials, a startup led by a former DeepMind senior researcher, is pioneering the use of generative AI technology to revolutionize the discovery of new physical materials for batteries and carbon dioxide-capturing cells. With this kind of approach, they aim to speed up the traditionally slow and costly process of material discovery.

Action: If you’re in the manufacturing or materials science industry, you can use AI to develop new products, innovate, and uncover novel materials with desired properties faster and more efficiently than ever before—enhancing material discovery, reducing research timelines, and achieving breakthroughs in product development.

 3. 🔎 Cancer detection and treatment

Move: Kinondo Kwetu, a pioneering hospital in Kwale, Kenya, is leveraging AI to transform cancer diagnosis and treatment. The hospital utilizes AI to enhance the precision and efficiency of screenings for cervical and breast cancer, achieving an impressive 95% accuracy rate and having successfully screened over 1,500 women.

Action: Healthcare providers aiming to advance their diagnostic capabilities and treatment efficacy can look to Kinondo Kwetu's implementation of AI technology as a model. Consider how adopting AI-driven diagnostics could revolutionize patient care in your healthcare facility, making early detection and treatment more accessible and effective.

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Hope you enjoyed reading! 🥰

As always, I'd love to hear your thoughts, questions, or ideas. Don't hesitate to hit 'Reply' and share your insights with me!

Your friend,

Brian Hanson

CEO / Founder

AIForBusiness.com

[email protected] 

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