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Today is AI Appreciation Day! A few years back, no one would have thought how generative AI would take over the world (in a good way of course). On the occasion of AI Appreciation Day, let’s explore the benefits of AI and how it will help startups take their business to the next level!

What is AI appreciation day?

Every year July 16th is commemorated as AI Appreciation Day! It’s dedicated to celebrating the incredible advancements and impact of Artificial Intelligence (AI). Today AI has transformed our daily lives and revolutionised various industries, especially with the introduction of generative AI models.

Why is AI Appreciation Day celebrated?

AI Appreciation Day was established back in May 2021 by A.I. Heart LLC, an AI company. The main goal of this day was to promote AI ethics and highlight the achievements of AI in various fields such as science, healthcare, business, finance, etc.

When was AI invented?

While artificial intelligence is not a new concept, its theory dates back to the 1700s. However, it came to fruition around the 1950s invented by two computer scientists Alan Turing and John McCarthy.

The era of AI: The next chapter of the technology revolution

The rise of AI chatbots

The trend of large language models started after the release of OpenAI’s ChatGPT. This innovative generative AI bot can perform various tasks and automate repetitive work easily. Soon tech giants such as Google, Microsoft, Meta and startups like Anthropic launched their own AI chatbots.

These AI bots can handle customer queries quickly, complete tasks such as text-to-image conversion, curate content, produce tailored audio and much more. Right now there’s fierce competition between tech companies to develop a better AI chatbot than popular rivals like ChatGPT, Gemini, Claude 3.5, etc. Small businesses can leverage AI chatbots to improve customer engagement and provide personalised content.

Data visualisation gets a boost

With the help of AI tools, business professionals and entrepreneurs can do more than convert plain data into graphical or visual content. These tools are capable of identifying trends and actionable information to optimise business operations. Moreover, data visualisation AI tools can perform predictive analysis to help in decision-making by detecting patterns. Making the right decisions can make or break a business. AI tools can help companies strategise with data-driven insights.

From text to images and videos

AI tools provide outputs according to the text prompts. Earlier generative AI models were capable of providing content (like articles, and blog posts) and audio. With recent developments, LLMs can also produce high-quality videos that replicate real-life dynamics. Some notable examples include OpenAI’s Sora and the Chinese AI model Kling. Moreover, AI models can even provide mixed outputs i.e. text with images! Meta has successfully developed Chameleon AI that can perform mixed media tasks easily.

Branding is the key asset of a business which helps it stand out from competitors. AI-powered tools can help startups build unique designs and content that resonates with their vision.

Closing thoughts

The impact of AI on the business world is vast and significant. It is undeniable that AI has revolutionised how companies operate by automating tasks, improving decision-making, and enhancing customer engagement. As more businesses adopt AI technologies, the potential for growth, innovation, and success will expand.