Business Tech News: OpenAI's New Image Generator Is Melting Servers
SAN FRANCISCO, CALIFORNIA - NOVEMBER 16: OpenAI CEO Sam Altman looks on during the APEC CEO Summit ... More at Moscone West on November 16, 2023 in San Francisco, California. The APEC summit is being held in San Francisco and runs through November 17. (Photo by)
Here are five things in tech that happened this week in business tech news and how they affect your business. Did you miss them?
This week OpenAI released a powerful image generator tool as part of its ChatGPT offerings that displays incredibly vivid images. It's become so viral that the company says demand is 'melting' their GPUs! (Source: Open AI, CNBC)
The image generator's capabilities are extremely powerful and can have an enormous impact on your company's marketing and branding. According to the company: 'GPT-4o image generation excels at accurately rendering text, precisely following prompts, and leveraging 4o's inherent knowledge base and chat context—including transforming uploaded images or using them as visual inspiration. These capabilities make it easier to create exactly the image you envision, helping you communicate more effectively through visuals and advancing image generation into a practical tool with precision and power.' Check out this X post for some great examples.
LinkedIn has introduced updates to its Campaign Manager, aiming to enhance marketers' success. Key features include a Media Planner for forecasting campaign results, dynamic UTMs for easier tracking, and improved dashboards for detailed performance insights. Additionally, an AI-driven Campaign Performance Digest provides plain-text explanations of campaign strengths and weaknesses. (Source: LinkedIn)
According to the company, these updates focus on refining strategies, optimizing ad spend, and simplifying campaign management. Included are comments/reviews from business owners who have used these tools to enhance their campaigns. LinkedIn Campaigns are more expensive than most other social media platforms but then again you get what you pay for: access to excellent B2B data. These tools can be a big help to marketers that lean heavily on this platform.
Cybersecurity company VikingCloud has published some very telling research. Among professionals in the US, UK and Ireland, 40 percent of cybersecurity teams admitted they have avoided reporting cyber incidents due to fear of job loss. This underreporting highlights a significant gap in addressing cyber breaches globally. Despite this, 96 percent of companies surveyed expressed confidence in their ability to detect and respond to attacks in real-time, which may lead to a false sense of security. Additionally, 68 percent of teams admitted they couldn't meet the Securities and Exchange Commission's new four-day disclosure rule for cyber incidents. The report emphasizes the challenges faced by cybersecurity professionals and the need for improved resilience and response strategies. (Source: Business Wire)
Yes, this is very eye opening! Imagine not knowing about a security breach because your IT team doesn't want to admit it! This is all about company culture and having an environment where people don't have to be afraid to make mistakes. Take this information seriously and have a heart to heart with your tech people. It's better to know than not-to-know.
Otter.ai has introduced a voice-activated AI Meeting Agent that can actively participate in virtual meetings. This agent can answer questions, schedule follow-ups, draft emails, and perform other tasks based on meeting data. Initially compatible with Zoom, it will soon support Microsoft Teams and Google Meet. Otter also launched specialized agents for sales and product demos, aiming to streamline workflows and enhance productivity. The company has said it plans to release more 'vertical' agents in the future. (Source: Engadget)
I've turned a few of my clients on to this app because it does meetings so well. I think its best capabilities are when you use it on your mobile device in face to face meetings, rather than just online. Taking advantage of Otter.ai when you're at a customer allows you to focus more on the relationships and not worry about taking notes and actions. If you're going to lean into this app, I recommend using it when you're onsite, not just online.
HoneyBook has unveiled its next phase of AI-powered business management tools, designed to help service-based entrepreneurs streamline operations and boost growth. By embedding AI directly into workflows, HoneyBook enables automation that is seamless and proactive. The company claims that entrepreneurs using HoneyBook AI have reported significant benefits, including doubling their project bookings and achieving 94 percent higher gross payment volume. The platform also helps users save up to three hours per week on manual tasks, allowing more time for client work and business growth. (Source: Yahoo Finance)
For small businesses in the service sector HoneyBook is a powerful tool to help both marketing and the implementation of services. As the company leans more into AI – like many other companies like it – you can expect more time savings and better productivity. Definitely an application worth trying.
Each week I round up five business technology stories that impact small businesses and then explain why. Hope you enjoy!
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