AI Business Consultant

Generative AI Gains Employee Support👨‍💼 and AI Stocks Propel Wealth Surge!📈

20 June, 2023

Welcome to the latest edition of our AI 🤖 newsletter!

In this issue, we take a look at some of the latest developments in AI, including:

✔Google's new virtual try-on tool 👗

✔Mercedes-Benz's integration of ChatGPT into its in-car voice control 🚗

✔A study that shows that AI could add up to $4.4 trillion of value to the global economy annually 💰

So whether you're interested in the latest tech news or want to learn more about how AI is impacting our lives, this newsletter is for you! Read on for more! 💡

Google's New AI Clothing Try-On Tool 👗

Google has just announced their new virtual try-on feature that allows you to see how clothes look on real models with different body shapes and sizes. It’s powered by a new generative AI model that creates realistic and high-quality images with details such as draping, folding, stretching, and wrinkling. The model was trained using Google’s Shopping Graph dataset, which includes information on products, brands, and reviews. So now you can shop for clothes online with confidence knowing that you’ll get a realistic idea of how they’ll look on you! 🤩

How can this potentially impact your business?

By providing realistic representations of how clothes will look on different body shapes and sizes, customers gain confidence in their purchasing decisions. This tool can reduce returns and increase customer satisfaction, ultimately leading to higher conversion rates and improved brand loyalty.

Mercedes Adds ChatGPT To In-Car Voice Control 🚗

Mercedes-Benz is taking things to the next level by partnering with Microsoft’s Azure OpenAI Service to integrate ChatGPT into its in-car voice assistant. This integration allows for natural conversations and contextual follow-up questions, enhancing the capabilities of the “Hey Mercedes” voice assistant. And that’s not all! Mercedes is also exploring the use of ChatGPT plugins for tasks like restaurant reservations and movie ticket bookings. So now you can have a chat with your car while it takes care of your errands! 🗺️

How can this potentially impact your business?

By enabling natural conversations and contextual follow-up questions, your customers can seamlessly interact with your products and services while on the go. This enhanced in-car experience can boost customer engagement, improve brand perception, and potentially lead to increased sales and customer loyalty.

Study Shows AI Could Add $4.4 Trillion of Value Annually 💰

According to a report from McKinsey Global Institute, generative AI has the potential to add up to $4.4 trillion of value to the global economy annually. That’s right! By 2030 to 2060, half of all work could be automated — the power of generative AI tools has accelerated this forecast compared to previous predictions. McKinsey also claimed that these changes “will challenge the attainment of multiyear degree credentials,” meaning that knowledge workers may be the most likely to take a career hit. 💡

How can this potentially impact your business?

By embracing AI technologies and leveraging automation, your business can enhance efficiency, reduce costs, and tap into new opportunities. However, it's important to prepare for the potential disruption to certain job roles, particularly in knowledge-intensive sectors. Proactively upskilling and reskilling your workforce can help your business navigate this changing landscape and ensure long-term success.

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