The Weekly Bash - Edition 3
Suggested questions:
- I work in sales. How can generative AI tools reduce cognitive load and improve learning effectiveness in knowledge work?
- How do AI applications struggle to keep users engaged compared to popular consumer apps?
- What is actionable advice you can give me based on this week’s news?
Introducing Custom GPTs: Tailored AI for Your Needs
**Key takeaways**
- OpenAI is launching custom versions of ChatGPT called GPTs, which allow users to create a personalized AI model for specific purposes.
- GPTs can be built without coding and can be used for various tasks, such as learning board game rules, teaching math, or designing stickers.
- The GPT Store, featuring creations by verified builders, will be launched soon, allowing users to share and discover useful GPTs.
- Privacy and safety measures are in place to ensure control over data sharing, and systems are in place to review and mitigate harmful GPTs.
- GPTs have the potential to connect with the real world through custom actions and APIs, enabling integration with databases and external systems.
- Enterprise customers can create internal-only GPTs tailored to their specific use cases, departments, or datasets.
- OpenAI aims to involve the community in shaping AI behavior to ensure safer and more beneficial developments.
- ChatGPT Plus now offers refreshed information and a simplified user experience, with all features accessible in one place.
How Generative AI Revolutionizes Knowledge Work
Generative AI is transforming knowledge work by introducing new tools that assist and enhance various industries. These AI-powered tools are being adopted by companies in fields such as education, finance, law, and medicine. While companies are implementing policies to ensure safe and effective use of generative AI, individuals can already start benefiting from these technologies. By leveraging free tools available online, individuals can reduce cognitive overload caused by information overload and improve their cognitive abilities and learning effectiveness. It's crucial to embrace generative AI now and help colleagues understand its potential and risks.
**Key takeaways**
1. Generative AI tools are gaining popularity and are being widely adopted by various industries.
2. Companies are investing heavily in generative AI technologies to increase efficiency and productivity.
3. Individuals can start using generative AI tools available online to enhance their knowledge work.
4. Generative AI helps reduce cognitive overload and improves cognitive abilities and learning effectiveness.
5. Embracing generative AI and educating others about its benefits and risks is essential in today's workplace.
AI Autonomously Negotiates Contract with Another AI
AI Autonomously Negotiates Contract with Another AI, Eliminating the Need for Human Involvement
In a groundbreaking achievement, artificial intelligence (AI) has successfully negotiated a contract with another AI without any human intervention. British AI firm Luminance developed an advanced AI system called Autopilot, which can analyze and make changes to contracts. The AI is legally trained and understands the nuances of businesses. Autopilot handles the entire negotiation process, from opening a contract to negotiating terms and sending it for signature. This technology aims to streamline the work of lawyers by eliminating the need for mundane paperwork. Luminance's Autopilot feature is more advanced than their chatbot, Lumi, and can operate independently. Legal teams spend a significant amount of time reviewing and negotiating routine documents, and Autopilot can significantly speed up the process. Luminance ensures that their AI software is tailored specifically to the legal industry, delivering superior performance compared to general-purpose AI models. This technology has the potential to profoundly impact businesses by reducing delays caused by contract negotiations.
The Power of Workflow-Focused AI
AI services often struggle with user engagement and retention, unlike popular consumer apps like YouTube. The low daily active user (DAU)/monthly active user (MAU) ratio for AI apps indicates that they don't provide enough value to keep users coming back. Some AI apps are labeled as "thin wrappers" because they only enhance existing technology without offering anything new. To truly revolutionize industries and improve productivity, companies should focus on leveraging AI to enhance existing workflows. Uber and Stripe are examples of companies that have successfully done this by transforming the transportation and online payments industries, respectively. Building AI-first products that seamlessly integrate into workflows and solve real problems is key. By doing so, these products can significantly improve usability, efficiency, and effectiveness in the workplace. Moving away from chat-based AI interfaces and embracing document-centric views can be beneficial, especially for knowledge workers. Just as technological disruptions in the past transformed industries, AI-first products have the potential to bring about significant changes and give users more time for other tasks.
**Key takeaways**
- AI services struggle with user engagement and retention compared to popular consumer apps.
- AI apps that are "thin wrappers" only enhance existing technology without offering anything new.
- To revolutionize industries and improve productivity, companies should focus on leveraging AI to enhance existing workflows.
- Building AI-first products that seamlessly integrate into workflows and solve real problems is crucial.
- Moving away from chat-based interfaces and embracing document-centric views can benefit workplace productivity.