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Last week in AI updates

Last Week in AI

We’re seeing some fascinating developments in AI lately, from new apps and healthcare tools to major shifts in regulation and cybersecurity. Let’s dive into these updates.


OpenAI App Store Launch

OpenAI is about to shake things up by launching a store for GPTs, custom apps built on their AI models like GPT-4. Here’s what’s happening:

  1. GPT Store Launch: This new platform, announced at OpenAI’s DevDay, is set to open soon. It’s a place where developers can list their GPT-based apps.
  2. Rules for Developers: If you’re making a GPT app, you’ve got to follow OpenAI’s latest usage policies and brand guidelines to get your app on the store.
  3. Diverse Applications: These GPTs can do all sorts of things, from specialized Q&As to generating code that follows best practices.

What’s the big deal? Well, OpenAI is moving from just offering AI models to creating a whole ecosystem where others can build and share their AI-powered apps. This could really democratize how generative AI apps are made, though we’re still waiting to see the full impact of this move.


Google’s Fresh Approach to Training LLMs

Google’s DeepMind team is pushing the boundaries in robotics for 2024. They’re working on cool new ways to train robots using videos and big language models. Here’s the lowdown:

  1. Smarter Robots: The goal is to make robots that get what humans want and can adapt better. They’re moving away from robots that just do one thing over and over.
  2. AutoRT System: This new system uses big AI models to control a bunch of robots at once. These robots can work together and handle different tasks by understanding visual and language cues.
  3. RT-Trajectory for Learning: They’ve also got this new method that uses video to teach robots. It’s turning out to be more successful than older ways of training.

Basically, DeepMind is working on making robots more versatile and quick learners. It’s a big step from the robots we’re used to, and it could really change how we think about and use robots in the future.


Microsoft Copilot

Microsoft has been pretty sneaky, launching its Copilot app on Android, iOS, and iPadOS during the holidays. It’s like a portable AI buddy, based on the same tech as OpenAI’s ChatGPT. Here’s the lowdown:

  1. AI-Powered Assistant: Copilot (you might know it as Bing Chat) can help with all sorts of tasks. Drafting emails, summarizing texts, planning trips, and more – just by typing in your questions or instructions.
  2. Creative Boost with DALL·E 3: The app’s got this cool Image Creator feature powered by DALL·E 3. It lets you experiment with different styles, whip up social media posts, design logos, and even visualize storyboards for films and videos.
  3. Popular and Free Access to Advanced AI: It’s a hit! Over 1.5 million downloads across Android and iOS. What’s really neat is it uses the more advanced GPT-4 tech from OpenAI, and it’s free – unlike OpenAI’s GPT app that charges for GPT-4 access.

Microsoft’s move to make Copilot a standalone app, especially after rebranding Bing Chat, shows they’re serious about making AI more accessible and widespread. It’s a big step in bringing advanced AI right into our daily digital lives.


Perplexity AI

Perplexity AI is a new player in the search engine game, but with an AI twist. It’s like a chatbot that lets users ask questions in everyday language and gives back answers with sources. Here’s the scoop:

  1. Chatbot-Style Search: You ask questions, and it replies with summaries and citations, kind of like chatting with a super-smart friend. And you can dig deeper with follow-up questions.
  2. Pro Plan Perks: For those who want more, there’s a Pro plan. It has cool features like image generation, a Copilot for unlimited help, and even lets you upload files for the AI to analyze.
  3. Ambitious AI Goals: Perplexity isn’t stopping at search. They’re rolling out their own GenAI models that use their search data and the web for better performance. This is available to Pro users through an API.

But, with great AI comes great responsibility. There are worries about misuse and misinformation, plus the costs and copyright issues since GenAI models learn from heaps of web content. Despite these challenges, Perplexity has raised a lot of money and boasts 10 million active users each month. It’s definitely a name to watch in the AI search world!


AI Regulations

In 2024, there’s more action on AI rules globally. Last year saw big steps in setting these up. Now, countries like the U.S., the European Union, and China are each crafting their own AI laws, and other regions are joining in with their approaches to AI and its effects.

Three key takeaways:

  1. The US, EU, and China each have their unique strategies for AI regulations, reflecting their influence in the AI sector.
  2. These upcoming regulations will significantly impact companies, especially those in AI.
  3. It’s not just about tech; these rules are shaping international politics and relationships.

In short, AI regulation is evolving rapidly, making a notable impact on businesses and global politics. It’s a crucial area to watch for anyone interested in the future of AI and its governance.


AI Cybersecurity

AI trends are really shaping up, especially in cybersecurity. Last year, generative AI was a big deal, and it’s going to have an even bigger impact this year. Here’s what’s going on:

Key points:

  1. AI’s use, misuse, and importance in cybersecurity is a hot topic. Think of stuff like cyberattacks and data insecurity.
  2. Experts are talking about both the challenges and opportunities AI brings, like its role in detecting threats or creating malware.
  3. There’s a big focus on how AI might be misused for things like deep fakes and spreading false info.

In essence, AI is really changing the game in cybersecurity, with lots of potential for good and bad. It’s crucial for organizations to stay alert and understand how to handle these AI tools.


Data Ownership

The big thing in tech right now is all about who owns and controls data. We’re moving from a world where personal data was used freely to one where privacy and even data ownership rights are taking center stage. Think of it like data becoming the new “oil” for AI.

Here’s what’s happening:

  1. Laws like the GDPR kicked off this trend. Now, places like Brazil are also getting serious about data privacy and investing in regulations.
  2. This change is cutting down on the free-for-all use of personal data. Instead, we’re seeing new systems that give people more control over their data.
  3. Big names like Apple’s CEO, Tim Cook, are pushing for these changes, focusing on protecting and empowering consumers.

So, what’s the bottom line? Data ownership is becoming a huge deal in tech. It’s not just about privacy anymore; it’s about giving people a say in how their data is used, which is a game-changer for everyone in the data economy.


Investing in AI

In 2024, AI investing looks like it’s moving beyond just hype. Investors are keen on funding AI startups and are expecting this trend to keep up. But now, there’s a shift towards more sustainable, focused businesses in AI.

Here’s the scoop:

  1. We’re anticipating a new wave of AI startups. These aren’t just building on tech from giants like OpenAI or Google, but are more specialized and sector-specific.
  2. Investors like Lisa Wu from Norwest Venture Partners see big potential in these specialized AI businesses. They’re seen as safer bets because they’re not easy for big companies to just replicate.
  3. These startups are all about knowing their specific users and using AI to boost productivity. For example, law firms are using AI to work more efficiently and get better results at lower costs.

In short, AI investing is maturing. It’s less about general hype and more about creating targeted solutions that really understand and improve specific industries.


AI in Healthcare

Nabla, a Paris-based startup, is making big moves in healthcare with its AI doctor’s assistant. They’ve just bagged $24 million in Series B funding, and here’s why they’re a game-changer:

  1. Revolutionizing Medical Documentation: Nabla’s AI helps doctors by transcribing conversations, highlighting important info, and creating medical reports quickly. It’s all about boosting doctors’ efficiency, not replacing them.
  2. Focus on Data Processing: They put privacy first. No storing audio or notes without clear consent. Plus, they’re keen on accuracy, allowing doctors to share notes for transcription error correction.
  3. Impact and Future Goals: This AI tool is already helping thousands of doctors in the U.S., especially with the Permanente Medical Group. Nabla aims for FDA approval and wants to keep doctors at the heart of healthcare.

In short, Nabla’s AI is here to assist doctors, not take over their jobs. With this new funding, they’re set to transform how doctors use technology, all while maintaining strict privacy standards. It’s an exciting step forward for AI in healthcare. 🚀💡🏥


Final Thoughts

In the AI world, big things are happening! OpenAI’s new store, Google’s smart robots, Microsoft’s Copilot app, and Perplexity AI’s search engine are shaking things up. Plus, AI’s role in healthcare, data ownership, and global regulations are evolving fast. It’s a thrilling time for AI, with major changes and innovations all around! 🌐💡🤖

Last Week in AI Read More »

AI copilot assisting medical professionals

Nabla Healthcare: Securing $24M for an AI Doctor’s Assistant

Paris-based startup Nabla is changing the healthcare game with its innovative AI copilot for doctors, having recently secured a hefty $24 million in Series B funding. This round was led by Cathay Innovation and ZEBOX Ventures. Let’s dive into what Nabla offers and why it’s making waves in the medical field.

Transforming Medical Documentation

Nabla has developed an AI assistant that acts as a silent partner for medical professionals. It’s not about replacing doctors but enhancing their work.

  • Tech at Work: The AI assistant uses speech-to-text technology to transcribe doctor-patient conversations, highlight key data points, and generate detailed medical reports in minutes.
  • Customization and Storage: Reports are tailored to doctors’ needs and stored locally on the computer, making them easily accessible and exportable to electronic health record systems (EHRs).

Focus on Data Processing, Not Storing

Nabla’s approach to data is unique. They prioritize processing over storing. This means:

  • Privacy First: Audio and medical notes aren’t stored on servers without clear consent from both doctor and patient.
  • Correcting Errors: Doctors have the option to share medical notes with Nabla for transcription error correction, ensuring accuracy.

Impact on Healthcare

Nabla’s AI copilot is more than just a tool; it’s a time-saver for doctors. By handling administrative tasks, it lets medical professionals focus more on patient care.

Nabla’s Reach and Future Goals

  • Usage and Customers: The AI copilot is already in use by thousands of doctors, particularly in the U.S., following its rollout across Permanente Medical Group.
  • Long-Term Vision: While Nabla eyes FDA-approved clinical decision support, they remain committed to keeping physicians integral to healthcare.

The Bottom Line

Nabla’s AI assistant is a testament to how AI can work alongside professionals, not replace them. With the latest funding, Nabla is ready to change the way doctors use technology. They’re doing this while strictly following privacy and data rules. This is just the beginning of AI’s journey in enhancing healthcare efficiency and patient care. 🚀💡🏥

Check out AI Innovations in Modern Healthcare.

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AI Chatbot in Business Operations

11 Benefits of AI Chatbots: Boosting Efficiency and Savings for Toronto Businesses

In the dynamic business landscape of Toronto and the GTA, AI chatbots are proving to be invaluable assets. Here’s a breakdown of the 11 key benefits they offer:

  1. 24/7 Customer Support: Chatbots provide continuous assistance, handling FAQs and more anytime.
  2. Automated Customer FAQs: Efficiently handle repetitive customer queries using natural language.
  3. Time Savings for Teams: Chatbots manage routine inquiries, reducing workload for customer service staff.
  4. Enhanced Sales and Customer Journey: Play a crucial role in driving sales and streamlining the buying process on social media platforms.
  5. Reduced Cart Abandonment: Smooth out the customer journey, addressing issues leading to abandoned shopping carts.
  6. Reduced Employee Stress: Alleviate employee workload, enhancing job satisfaction.
  7. In-Store Appointment Bookings: Facilitate a seamless blend of online and offline shopping experiences.
  8. Expanding Brand Voice: Offer consistent brand experience across online platforms.
  9. Multilingual Support: Cater to a diverse, global audience with multiple language options.
  10. Cost-Efficiency: Serve as a more cost-effective solution than traditional customer support teams.
  11. Enhanced Customer Service with AI: Leverage machine learning and natural language processing for quicker, personalized customer service.

Impact on Business Efficiency

  • Hours Saved: Varma, a pension insurance company, saved 330 hours per month after implementing a chatbot, indicating substantial time savings for businesses using similar AI tools​​.
  • Cost Savings: Chatbots can help businesses save up to 30% on customer support costs​​.
  • Global Impact: By 2023, businesses and consumers are expected to save a combined 2.5 billion hours through the use of chatbots​​.

In conclusion

AI chatbots are not just technological tools; they are strategic assets that can significantly enhance customer service, save valuable time, and reduce costs. This makes them especially valuable for businesses in Toronto, Vaughan, and the GTA, looking to stay competitive and efficient in a rapidly evolving market.

Check out our previous blog on AI chatbots for small businesses in Toronto and the GTA.

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AI Chatbots for Your Accounting Firm

AI Chatbots for Your Accounting Firm: A Simple Guide

Today, we’re diving into AI chatbots for accounting firms. If you’re running an accounting firm in the GTA, or even just curious about tech trends, you’ll want to keep reading. Let’s break down how AI chatbots can be a game-changer for your firm!

What’s an AI Chatbot, Anyway?

First things first – what’s an AI chatbot? It’s like a smart assistant that uses artificial intelligence to chat and help people. Think of it as a helpful robot that’s always ready to answer questions and solve problems, 24/7!

Top Benefits for Accounting Firms

Now, let’s talk about why AI chatbots are awesome for accounting firms:

  1. Always Available: These chatbots don’t sleep! They’re on the job all day, every day. So, your clients can get help even when your team’s out of the office.
  2. Quick Answers to Common Questions: Chatbots can instantly provide answers to frequently asked questions, like “How do I file my taxes?” or “What’s a W-2 form?”
  3. Error-Free Help: Computers don’t make mistakes like humans can. So, when it comes to calculations or data retrieval, chatbots are super accurate.
  4. Saves Time: Your team won’t have to spend hours answering basic questions. The chatbot handles that, letting your staff focus on more complex tasks.
  5. Personalized Advice: Advanced chatbots can give tailored advice based on a client’s specific data. It’s like having a personal advisor, but digital!
Cool Features of AI Chatbots

Check out these neat features that make AI chatbots a must-have:

  • Natural Language Processing: This means the chatbot understands human language, even when it’s a bit informal or has typos.
  • Integration with Accounting Software: Chatbots can work with your existing software, pulling up client data or transaction histories in a snap.
  • Data Security: They’re built with security in mind, keeping all your sensitive accounting data safe.
  • Learning Over Time: The more they interact, the smarter they get, constantly improving to serve your clients better.
Vease and AI Chatbots

Speaking of smart solutions, Vease offers AI tools that can totally transform how your accounting firm operates. Check out our website and blog to learn more!

Final Thoughts

So, there you have it – AI chatbots are not just cool, but they’re super practical for accounting firms. They’re like having a super-smart, always-available assistant who never gets tired or makes mistakes. Whether you’re dealing with simple questions or need complex advice, an AI chatbot has got your back.

Remember, technology is here to make our lives easier, and AI chatbots in accounting are a perfect example of that. So, why not give it a try and see the magic for yourself?

Be sure to check out our previous blog on How Chatbots Revolutionize Accounting Firms.

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