Jul 8, 2023 | SMB Technology, SMB Technology, SMB Technology, SMB Technology, Technology News
Artificial Intelligence (AI) and its applications have the potential to radically improve business processes. Like all technologies, it comes with risks, too. Read on to learn more how small to medium-size businesses can leverage AI while mitigating the potential risks of this growing technology. More and More Businesses Use Artificial Intelligence Use of artificial intelligence is growing, and is only expected to increase. According to a report cited by a CompTIA article, the market for AI is expected to grow by 38.1% each year until 2030–from 2022’s market of $119.7 billion. Tech and financial services are the industry sectors using it most, with telecommunications at 5%. Customer satisfaction for companies using artificial intelligence is expected to grow by 25%. What makes AI such a draw, especially for small to medium-sized businesses? Benefits of Artificial Intelligence Artificial intelligence can be used for business processes like automated chat, or to analyze great amounts of data in a way more time- and labor-saving than humans can. For smaller companies, having automated processes can free up a smaller staff from performing mundane tasks. Businesses can use AI to get customer feedback to change course in product/service offerings if needed. Automation by AI can even help with cybersecurity by detecting patterns and even anomalies in the sea of data generated by businesses–perhaps stopping a cyberattack in its tracks. Artificial intelligence can also be taught to shut down affected systems and isolate the threat. In terms of saving costs, businesses can allow automated chat to handle simple and quick customer service queries, allowing workers to focus on more complex issues. Moreover,...
Jun 7, 2023 | SMB Technology, SMB Technology, SMB Technology, SMB Technology, Technology News
Any technology brings benefits as well as possible challenges, and Generative AI (e.g. ChatGPT) is no exception. ChatGPT is a type of artificial intelligence language model (“GPT” stands for generative pre-trained transformer) that carries potential for business uses. Whatever challenges this prevents in terms of cybersecurity will become apparent. No matter what the technology, safeguards will still revolve around people, processes and technology. Read on to learn more about ChatGPT, its potential uses, and the challenges it may bring. What ChatGPT is, and Why it Matters ChatGPT, a product from Open AI, is a Large Language Model (LLM) built on datasets from the Internet and pre-trained to give responses to questions, generate content, and make user interfaces more personal and interactive. Predictive text is already prevalent in email applications, wherein the application tries to guess the next few words or next sentence. All the user has to do is click the tab button to accept or continue typing to override the suggestion. Similarly, the artificial intelligence powering ChatGPT can help generate text by prompting the writer with suggestions based on Internet data. Organizations can save time and improve customer service, content creation, research and even automate customer service analytics. Generative artificial intelligence is the enabling technology for ChatGPT, and uses are probably limited only to the human imagination. Artificial intelligence puts together information from the Internet, but it’s up to the user to judge the content’s usefulness and accuracy. Early Adoption of ChatGPT Progresses Quickly While not yet audited for bias and accuracy, ChatGPT has still become popular, and will probably become even more so,...
