AI in Business | October 3, 2024
Welcome to this week’s edition of the AI in Business Weekly Newsletter! It’s been an exciting couple of weeks at GCM as we reflect on the success of our first-ever AI for SMBs Conference and dive into some big developments in AI that can make a real difference for your business. From Microsoft’s latest Copilot upgrades to practical strategies for safeguarding your data, we’ve got the insights and tools you need to stay ahead.
Let’s jump into this week’s top AI stories and explore how these advancements can help your business grow and thrive!
Top AI in Business News Stories
What an incredible week for GCM and the entire business community as we hosted the first-ever AI for SMBs Conference, powered by REV Federal Credit Union , right here in Summerville, SC! The event was a tremendous success, bringing together passionate business owners, industry experts, and community leaders for a day filled with practical AI strategies tailored specifically for small and medium-sized businesses. The energy and engagement were electric as we explored how AI can streamline operations, boost marketing efforts, and create responsible AI policies.
A huge thank you to our incredible speakers— Melissa Hortman, Ed.D. , Chris Blevins , Brad Weber , Zach Giglio , Emma Giglio , Dr. Iris Junglas , and Dr. Navid Hashemi, Ph.D. —for sharing their expertise and making the day truly unforgettable. Their insights provided attendees with actionable strategies to immediately implement AI-driven solutions in their businesses. Special thanks to Zac Streelman , whose keynote, presented by REV, had the audience hooked with real-world examples of how AI is transforming businesses.
This was truly an event by the community, for the community, aimed at making AI accessible and practical for SMBs. We were fortunate to collaborate with 12 incredible community partners, including the Hilton Head Island-Bluffton Chamber of Commerce and the Charleston Regional Development Alliance , whose support as silver sponsors made the day even more impactful.
Implications for Average Businesses
For SMBs, this conference underscored a key takeaway: AI is for everyone. Whether it’s automating routine tasks, analyzing customer data, or crafting personalized marketing campaigns, AI is no longer out of reach for small businesses. The tools and strategies shared at the conference will help businesses streamline their operations, boost productivity, and enhance customer experiences—all while staying competitive in a fast-evolving marketplace.
If you weren’t able to attend this time, don’t worry! This was just the beginning. We’re already planning our next event, so stay tuned for even more opportunities to learn how AI can help your business grow and thrive.
微软 just unveiled a series of powerful updates for its AI assistant, Copilot, across its Microsoft 365 suite, including Excel, PowerPoint, Teams, Outlook, Word, and OneDrive. The new features are designed to make AI more conversational, visual, and personalized. With Copilot Voice, users can now simply speak to the assistant, allowing natural voice interactions to handle everything from drafting documents to analyzing spreadsheets. The Copilot Vision feature gives the AI the ability to understand and interact with what’s on your screen, providing real-time assistance based on what you're working on in Microsoft Edge.
Additional upgrades include Copilot Pages, a collaborative workspace where multiple users can work with AI in real-time, and Copilot Agents, which automate background tasks like scheduling and data analysis. Microsoft is also reintroducing the Recall feature, letting Copilot remember key details with improved privacy controls.
Implications for Average Businesses
For small and medium-sized businesses (SMBs), this means that AI-powered workflows just got a lot simpler and more accessible. With Copilot Voice, you can now create reports, manage Excel sheets, or even send emails using just your voice—making complex tasks faster and more intuitive. Copilot Vision brings smarter, real-time assistance based on your screen content, enhancing productivity without constant manual input.
Even more exciting, the Copilot Pages and Agents features allow businesses to collaborate and automate processes in tools like Excel, Word, and Teams without needing coding skills. This could be the first taste of highly efficient, AI-powered automation across everyday tasks for millions of SMBs.
If you're interested in implementing AI into your business but worried about technical complexity, these new tools could make it easier than ever.
For more hands-on advice on implementing AI in your daily business operations, contact GCM.
A recent survey of over 80 Chief Information Security Officers (CISOs) reveals a surge in AI-powered cyberattacks. Phishing, powered by AI, emerged as the top threat, cited by 75% of CISOs, while deepfake-enhanced fraud (using AI to create realistic fake videos or voices) is also a rising concern for 56% of respondents. As organizations integrate more AI tools into their operations, securing these systems is becoming a critical priority. However, many CISOs face challenges, including a lack of expertise in defending AI systems (58%) and balancing security with usability (56%).
Moreover, many businesses are expected to invest in tools to manage the AI development lifecycle and discover unauthorized "Shadow AI" applications in the next 1-2 years. As AI becomes more deeply embedded in business operations, both the risks and the resources needed to mitigate those risks continue to grow.
Implications for Average Businesses
For small and medium-sized businesses (SMBs), this surge in AI-driven threats means that adopting AI-based security solutions is no longer optional. Phishing and deepfakes can severely damage a company’s reputation and financial health. While large enterprises are expanding their cybersecurity budgets, SMBs can still act by adopting affordable AI-driven tools that offer robust defenses against these sophisticated attacks. Tools to manage data protection, insider threats, and human identity verification should be high on the priority list, ensuring that sensitive information and systems are safeguarded.
Additionally, many CISOs are concerned with the rise of Shadow AI—unauthorized AI tools used by employees. SMBs should implement policies and technologies that help monitor and control AI usage within their organization to prevent potential security breaches from unsanctioned tools.
Be sure to check out our AI in Business 101 section for Practical Tips for SMBs to Safeguard Data with AI, where we offer actionable insights to help your business stay secure in the face of evolving threats.
AI in Business 101 - Practical Tips for SMBs to Safeguard Data with AI
As a small or medium-sized business, protecting your data while using AI tools like ChatGPT can be a challenge, especially if you don’t have a dedicated IT team. Here are practical, easy-to-follow tips to ensure your sensitive information stays secure without feeling overwhelmed by technical details or multiple tools.
1. Avoid Entering Confidential Information Directly
When using AI tools to assist with tasks, it's crucial to limit the amount of sensitive data you input. Instead of sharing proprietary details, opt for general summaries or abstract information. For example, when drafting a proposal, use placeholders like "[Client Name]" or "Project A" instead of actual client names or project specifics. This approach protects your business from potential data leaks or unauthorized use.
2. Use Pseudonyms or High-Level Descriptions
If you must reference sensitive information, use pseudonyms or high-level descriptions. For instance, instead of typing in a customer’s real name, use a code like "Customer123" or simply refer to a product feature without getting into specifics. This way, your data remains anonymous while still enabling you to get valuable outputs from AI tools.
3. Consider Dummy Data for Testing
When testing AI tools for new tasks or processes, input "dummy" data rather than actual business information. For example, if you're testing a chatbot for customer support, use fictional customer inquiries and responses to see how the system performs. This way, you evaluate the AI’s capabilities without risking exposure of sensitive customer data.
4. Leverage Secure AI Instances for Sensitive Tasks
If your business requires the use of AI for tasks involving sensitive information (like legal documents, customer contracts, or financial data), consider using secure or private AI instances. Many AI providers offer enterprise-level security options that ensure data is processed and stored with additional safeguards, such as stronger encryption or isolated servers.
5. Regularly Review Privacy Policies and Terms of Service
AI tools often update their privacy policies and terms of service. Regularly review these documents to understand how your data is handled and whether it’s used for AI training. Look for clauses that specify data storage practices and be mindful of any changes that could affect your privacy. Stay informed to ensure your business data remains secure.
6. Use Pseudonymization for Public AI Interactions
If you're using AI for public-facing tasks (like generating blog content or customer responses), ensure that any sensitive details are removed or masked before input. Pseudonymization (replacing identifiable information with fictional counterparts) allows you to leverage the power of AI without revealing key business information.
7. Stay Updated on AI Security Features
As AI technology evolves, so do its security features. Stay informed about the latest updates and improvements from your AI providers. Many offer built-in security tools that allow businesses to manage data privacy more effectively, so make use of these features where possible.
By following these straightforward practices, SMBs can take advantage of AI's capabilities while maintaining control over sensitive data. Keep it simple: safeguard proprietary details, leverage secure platforms, and always stay informed about how your data is being handled.
Featured AI Tool of the Week - Canva’s Highlights Feature
If you're looking to streamline your video content creation for social media, Canva’s new AI-powered “Highlights” feature is a game-changer. Designed for busy business owners, marketers, and content creators, this feature takes the tediousness out of video editing by automatically selecting the best moments from your long-form videos. Whether you're preparing clips for Instagram, TikTok, or YouTube Shorts, Canva’s AI technology ensures your content is impactful and high-quality without requiring extensive editing skills.
Key Functionality:
Step-by-Step Guide:
Here’s how you can start using Canva's Highlights feature to create professional-quality videos:
Benefits for SMBs:
Cost
This feature is part of Canva's paid subscription, so if you’re already using Canva Pro, it’s a great addition to your toolkit for enhancing your social media presence without extra cost.
Conclusion
Canva’s Highlights feature is a must-try for SMBs looking to simplify video editing and boost their online presence with high-quality, shareable content. Whether you’re promoting products, sharing updates, or creating ads, this AI-driven tool will save you time while delivering polished, professional videos.
Stay Tuned and in Touch
We hope you enjoyed this week’s newsletter, packed with practical AI insights for SMBs. Be sure to stay connected for the latest updates on AI trends, tools, and strategies that can help your business thrive. Got questions or want to learn more about how to integrate AI into your business? We’re here to help! Reach out to us anytime—we love hearing from you.
Follow us on social media for real-time updates, and keep an eye out for details on our next event!