AI Trends of Past Week

Trend 1: AI-Powered Automation for Enhanced Efficiency

There is a growing trend of AI being used to automate business processes, especially those that are repetitive and time-consuming. For instance, AMD is developing new AI processors, including the Ryzen AI PRO 300, that boast superior performance for AI-related tasks. These advancements make AI-powered automation increasingly accessible for businesses of all sizes. Zoom is also incorporating AI into its platform, with features like Zoom Tasks that can automatically detect, recommend, and complete tasks based on conversations. This demonstrates how AI can streamline workflows and enhance productivity.

Importance for SMBs: AI-powered automation can be a game-changer for SMBs, allowing them to:

• Free Up Resources: Automating routine tasks frees up employees to focus on higher-value activities that require creativity and critical thinking.

• Reduce Costs: Automation can lead to significant cost savings by reducing the need for manual labour and minimising errors.

• Improve Efficiency: Automating processes can improve the speed and accuracy of tasks, leading to overall efficiency gains.

Advice for SMBs: SMBs should explore AI-powered tools and platforms that can automate tasks specific to their industry and business needs. Consider starting with low-hanging fruit, such as automating data entry, customer support inquiries, or social media management.

Trend 2: AI-Driven Personalisation and Customer Engagement

AI is being increasingly used to personalise customer experiences and enhance customer engagement. Walmart, for example, is developing new AI platforms and large language models (LLMs) trained on its own data to create highly personalised shopping experiences for its customers. Additionally, companies like Tesla are utilising AI to revolutionise transportation with products like the Cybercab, a fully autonomous robotaxi aimed at making autonomous transportation widely accessible and affordable.

Importance for SMBs: SMBs can capitalise on this trend to build stronger customer relationships, increase customer loyalty, and drive revenue growth. By using AI to understand individual customer preferences and tailor interactions accordingly, SMBs can offer more relevant product recommendations, provide proactive customer support, and create a more engaging brand experience overall.

Trend 3: Rise of Specialised, Affordable AI Models

While large language models (LLMs) dominate the headlines, there's a parallel trend of specialised AI models emerging that cater to specific business needs and are more accessible for SMBs. Writer's Palmyra X 004 demonstrates this by outperforming models from giants like OpenAI and Anthropic in specific tasks, despite being trained on synthetic data at a lower cost. This suggests that SMBs don't necessarily need to rely on the most resource-intensive models to benefit from AI. The emergence of models like Llama 3.2, which can be run locally on a smartphone, further lowers the barrier to entry for AI adoption.

Importance for SMBs: This trend allows SMBs to:

• Access Tailored Solutions: Specialised AI models can address specific business challenges, offering more targeted solutions than general-purpose LLMs.

• Reduce Costs: Affordable AI models make it possible for SMBs with limited budgets to adopt AI technology.

• Increase Flexibility: Running AI models locally on devices offers more control over data privacy and reduces reliance on cloud-based solutions.

Advice for SMBs: Rather than focusing solely on the largest LLMs, SMBs should research and identify AI models that are specifically designed for their industry or business functions. Explore options for running AI models locally to enhance data security and reduce costs.

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