5 Key AI trends from 2023

Read time: 2.5 minutes

Welcome back, superhuman

Hope you’ve had a relaxing weekend because AI hasn’t taken any days off.

Apple wants to turn the iPhone into the aiPhone, Microsoft kills Cortana, and the Elon x Zuckerberg cage fight is back on (ok that last one has nothing to do with AI but we all love a bit of drama from time to time).

Enough talk. Let’s get down to business.

 TODAY’S MENU

• The Big Insight: 5 Key AI Trends from 2023

• 5 AI tools to supercharge your productivity

• Enterprise: Integrating AI into customer service workflows

• Tutorial: How to convert Excel files into visual charts

• Research: Improving AI memory with new architecture

• AI-Generated Images: Exercise equipment in heaven

TODAY IN AI & TECH  

• aiPhone: Apple is reportedly hiring engineers to help them compress and run entire AI models on iPhones.

• RIP remote work: The work-from-home boom seems to be coming to an end as even Zoom calls its employees back to the office.

• Hasta la vista: Microsoft is shutting down Cortana as it focuses on AI-powered alternatives.

• Big red wall: China considers putting limits on phone usage for kids.

• Cage fight: Elon Musk seemed to confirm the cage fight with Mark Zuckerberg after saying the fight will be streamed on X.

   

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THE BIG INSIGHT

The state of AI in 2023: 5 key AI trends from McKinsey research

McKinsey dropped a big report on the state of AI last week. Among a long list of insights, the report found that one-third of workers are now using AI as part of their workflow.

You can read the entire report here, or you can save yourself some time and get a summary of the 5 most important AI trends from 2023 here:

Use of Generative AI is already widespread

Gen AI is taking over the workforce, with 79% of survey respondents in April 2023 having some exposure to it, and 22% using it regularly at work.

Use of Gen AI tools is most prevalent in marketing and sales

Gen AI tools are most commonly deployed for crafting texts and documents for marketing and sales teams.

Besides marketing sales teams, service operation teams and product/service development teams are the biggest adopters of AI tools.

AI will reshape many job roles

Companies are focusing on retraining workers, instead of eliminating jobs. Nearly 40% of respondents expect over 20% of their workforce to be re-skilled, while only 8% foresee a 20% workforce decrease.

Organizations continue to see benefits from adopting AI tools

The majority of respondents reported AI-related revenue increases within each business function using AI.

AI adoption and impact remain steady

Despite Generative AI's rapid spread, overall AI adoption remains steady at 55%. Usage is limited in scope, with just 23% saying that they use Gen AI in more than one business function, suggesting that AI usage isn’t seeing a dramatic rise within most organizations.

Source

5 AI Tools to Supercharge Your Productivity

Hey Data: Delegate your tasks to AI.

Vairflow: AI-driven workflow manager that's built for developers and enables your team to stay lean, build faster and reduce cost.

tl;dv (sponsored): tl;dv is here to transcribe, summarize, and mark key moments in your calls in 20+ languages.

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Kadao: Extract web data easily with AI.

DreamyRooms: Effortlessly redesign any room by applying various design themes to uploaded pictures.

ENTERPRISE ROUNDUP

The latest and greatest developments in Enterprise AI

Why generative AI is a game-changer for customer service workflows — While gen AI's capabilities reduce call times and enable multitasking, companies face challenges in change management, ensuring accuracy, and preserving privacy More details →

Alibaba's cloud unit brings Meta's AI model Llama to its clients — Alibaba's cloud computing division is supporting Meta's open-source AI model Llama, enabling Chinese business users to develop programs using the model. More details →

How AI is fundamentally altering the business landscape — AI is transforming business through innovation, risk management, and job displacement. More details →

AI mentions on the rise in tech earnings calls as recession talk fades — US tech firms emphasize AI in earnings calls, downplaying recession, and reflecting economic optimism. More details → (requires Bloomberg subscription)

ServiceNow expands platform with additional generative AI capabilities to ease enterprise productivity — ServiceNow expands its platform with generative AI for enterprise productivity, including case summarization and text-to-code features. More details → 

AI TUTORIAL

How to convert Excel files into visual charts with ChatGPT

Upload your Excel file to ChatGPT. Turn on Code Interpreter mode. Use the following prompt:

Analyze the spreadsheet I've uploaded and generate charts to visualize the data.

This feature requires a ChatGPT Plus subscription. Please do not upload any sensitive data before checking with your company.

NOTABLE RESEARCH

Enhancing time-based understanding and questions in AI models

This paper introduces RecallM, a new architecture that enhances temporal context understanding in Large Language Models (LLMs). It uses a graph database instead of vector databases, allowing for continual learning and complex reasoning. The system offers adaptable and updatable long-term memory for AGI systems and shows potential for further improvements.

Read the paper here →

AI-GENERATED IMAGES

Exercise equipment in heaven

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Thanks for reading.

Until next time!

Zain

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