Podcast Summary
Why Some Companies Still Ban Generative AI and Why It's a Bad Idea: Companies that fail to adopt generative AI may be left behind, as it's a powerful tool for business growth and career advancement. Recent developments like the UK-US AI safety deal and the public release of ChatGPT highlight the importance of this technology.
Companies that continue to ban generative AI are at risk of falling behind and potentially failing. This was a key message from Jordan Wilson on the Everyday AI Show, where he discussed the reasons why some companies are still banning this technology and why each reason is a bad idea. He emphasized that generative AI is a powerful tool that can significantly boost businesses and careers, and those who fail to adopt it may be left behind. Additionally, Wilson shared some recent news in the AI industry. The UK and US have signed a landmark deal to collaborate on developing methods for evaluating the safety of AI tools and their underlying systems. This agreement marks a crucial step in addressing the global challenge of ensuring the safe development of AI technology. Furthermore, ChatGPT, an AI chatbot from OpenAI, has been made public, allowing users to access the free version without logging in. Overall, the Everyday AI Show provided valuable insights into the current state of generative AI and its potential impact on businesses and individuals. The takeaway is clear: companies that want to succeed in today's rapidly evolving technological landscape need to embrace generative AI and not be left behind. To learn more about generative AI and how to leverage it, check out the Everyday AI website, which serves as a free generative AI university.
Apple Introduces New AI Models: Realm and MM1: Apple introduces Realm, an edge AI language model, and MM1, a multimodal AI model, to enhance Siri's capabilities and perform contextual data parsing, eliminating the need for complex image recognition. Stay tuned for more updates at youreverydayai.com.
While you can use ChatGPT without an account for simple queries, to save chats or access more advanced models like GPT-4, you need a paid account. Apple, on the other hand, has recently introduced its new AI language model, Realm, which reportedly surpasses GPT-4 in contextual data parsing. Realm is focused on performing task-oriented language processing on smart devices and is expected to enhance Siri's capabilities. Apple's approach to AI is shifting towards converting images into text, eliminating the need for complex image recognition. Realm and another recent Apple AI model, MM1, serve different purposes, with Realm being more edge AI-focused and MM1 being multimodal. These developments are likely to be discussed further at Apple's WWDC conference in June 2024. Overall, the AI landscape continues to evolve, with companies like OpenAI and Apple introducing new models and capabilities. Stay tuned for more updates at youreverydayai.com. If you're new to our show, feel free to check us out without signing up for an account. We cover the latest AI news and trends every day. Thank you for joining us, and remember, we appreciate your engagement and feedback. Let's keep the conversation going!
Companies that ban generative AI risk falling behind: 61% of companies still restrict or ban generative AI usage, but those that do risk falling behind competitors and potentially failing.
Companies that ban generative AI are at risk of falling behind their competitors and ultimately failing. This was emphasized during a recent live discussion, where the importance of embracing AI was highlighted using examples of companies like Blockbuster, Blackberry, and Sears, which failed to innovate and adapt to technology. The discussion also referenced a Cisco data privacy benchmark study from 2024, which revealed that 61% of companies surveyed still had tool restrictions on generative AI, with 27% completely banning it. The comparison was made that if a CEO bans generative AI at their company, but allows the use of the Internet, they are inconsistently limiting their employees' ability to access valuable information and tools for growth. The interactive discussion encouraged audience participation and invited hot takes on the topic. The consensus was clear: companies that refuse to use generative AI risk being left behind in their industries.
Comparing generative AI to banning the Internet: Banning generative AI is not a solution. Companies that refuse to use it risk falling behind competitors, much like businesses that didn't adopt the Internet early on. Properly priming, prompting, and polishing can ensure accurate and effective results.
Banning generative AI is comparable to banning the Internet. According to the speaker, who has spent over 1000 hours using ChatGPT and teaching others how to use it effectively, this technology is not something to be feared or banned. Instead, companies that refuse to use generative AI risk falling behind their competitors, much like a business that refuses to use the Internet. The speaker argues that many companies are still hesitant to adopt generative AI due to fear or misconceptions. Some may have banned it early on, following the lead of larger companies. However, as technology continues to evolve, those who fail to adapt risk being left behind. The speaker encourages businesses to reconsider their stance on generative AI and to explore the potential benefits it can bring. The speaker also emphasizes the importance of proper priming, prompting, and polishing when using generative AI to ensure accurate and effective results. Overall, the speaker's message is that generative AI is a valuable tool that can help businesses stay competitive, and those who fail to embrace it risk being left behind.
Companies should not blindly ban generative AI without understanding it: Companies should invest time in learning about generative AI, implementing data security measures, and creating guidelines to mitigate risks, rather than blindly banning it.
Many companies are blindly following industry trends and banning generative AI without updating their policies or fully understanding the technology. This can lead to missed opportunities and a lack of innovation. For instance, JPMorgan Chase banned ChatGPT but continued to invest in refining their own large language models, while other companies in similar industries followed suit without revisiting their policies. However, the reasons for banning generative AI, such as lack of understanding, data privacy concerns, fear of job losses, ethical dilemmas, and cost concerns, are not valid reasons for a blanket ban. Instead, companies should invest time in learning about generative AI, implementing data security measures, and creating guidelines and guardrails to mitigate potential risks. Additionally, the cost of building a large language model is not a valid concern for most companies. Instead, they can leverage pre-existing generative AI systems that have robust data security and privacy features. Ultimately, fear and uncertainty should not be the driving factors for banning generative AI. Instead, companies should approach the technology with an open mind and a willingness to learn and adapt. By doing so, they can harness the power of generative AI to improve their operations, enhance their products, and stay competitive in their industries.
Trusting Generative AI with Sensitive Data: Companies should trust AI models for data processing, increasing productivity and reducing misinformation risks, despite potential IP concerns and regulatory compliance. Proper training, guidelines, and legal advice ensure benefits outweigh risks.
Companies should not be hesitant to use large language models, like Microsoft 365 Copilot, AWS, or Google's offerings, for their data, even if it's sensitive. The data is already with these tech giants, and not utilizing their advanced AI technology could lead to potential misinformation and productivity loss. Companies have trusted their employees to use the internet responsibly, and the same level of trust should be applied to generative AI. With proper training, guidelines, and legal advice, the benefits of using these AI models far outweigh the risks. In fact, McKinsey Digital found that up to 70% of knowledge workers' manual tasks could be automated with generative AI, leading to increased productivity. Intellectual property concerns and regulatory compliance are valid worries, but companies like Adobe and Microsoft offer guarantees and partnerships to mitigate these issues. Ultimately, the key is to approach generative AI with the same level of trust and understanding as other digital tools, and to deploy it responsibly.
Failure to adapt to tech innovation leads to obsoletion: Organizations must stay informed and adapt to new technologies to maintain productivity and competitiveness, or risk losing revenue and market position.
Organizations that fail to adapt to technological advancements risk being left behind and losing a significant portion of their productivity and market share. Two notable examples are Blockbuster and Blackberry, both of which held large market shares in their respective industries but failed to adapt to tech innovation and were eventually surpassed by more agile competitors. The speaker emphasizes the importance of understanding and implementing new technologies, such as generative AI and agents, to maintain productivity and competitiveness. The consequences of ignoring these advancements can be severe, leading to a significant loss in revenue and market position. It's crucial for organizations to continually train their teams and stay informed about the latest technological developments to avoid becoming obsolete.
The importance of adapting to new technologies: Companies that don't adapt to new technologies like generative AI risk becoming obsolete. Embrace it to stay competitive and innovative.
Companies that fail to adapt to new technologies risk becoming obsolete. Apple's success story, as well as the downfall of Nokia, Blackberry, and Sears, serve as stark reminders of this. In the early days, Apple generated $20.24 billion in revenue, while Sears was the largest retailer in the US with $41 billion. Fast forward to 2020, Apple's revenue had grown to $274 billion, while Sears had filed for bankruptcy. Companies like Blockbuster, Blackberry, and Sears failed to adapt to technological changes, leading to their downfall. Amazon, on the other hand, went from being a small player with $5 billion in revenue to a giant with $100 billion. The reason for their success? Adaptation. They embraced new technologies and business models, such as e-commerce and cloud computing. The same applies to generative AI. It's no longer a nice-to-have or a competitive advantage. It's a necessity. Companies that don't use generative AI risk being left behind. It's not a matter of productivity or growth. It's a matter of survival. Just as you wouldn't ban your employees from using the Internet, you shouldn't ban them from using generative AI. It's a tool that can help your company stay competitive and innovative. In conclusion, the ability to adapt to new technologies is crucial for a company's success. Companies that fail to do so risk becoming obsolete. Embrace generative AI and use it to stay ahead of the curve. Don't let your company become the next Blockbuster, Blackberry, or Sears.
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