At the end of 2022, OpenAI launched ChatGPT to the public. Within 5 days, it had gained 1 million followers. Although the tech world had been buzzing about the potential of this technology, it was the first time the public had been put on notice. Since then, we have seen the emergence of several startups, tools, and plugins aimed at solving basic problems like photo editing or building complex models that simulate weather patterns to predict natural disasters.
The question arises: What is AI? What are its types? What are its applications for startups? And what is its potential impact on startups and jobs?
AI, short for Artificial Intelligence, refers to the theory and development of computer systems able to perform tasks normally requiring human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages.
- Artificial Narrow AI (Weak AI): Narrow AI is the only type of AI that currently exists. It is designed to perform a specific task or a narrow set of tasks. It operates within a limited context and is focused on performing specific tasks efficiently. Within the realm of Narrow AI, there are further subcategories based on their functionalities:Reactive Machines: These are the most basic types of AI systems that operate solely based on predefined rules and do not have the ability to form memories or learn from past experiences. They can only respond to specific inputs with specific outputs. Examples include Deep Blue, IBM's chess-playing computer.Limited Memory: Unlike reactive machines, these AI systems can use past experiences to make decisions. They have limited memory capabilities and can learn from historical data to improve their performance over time. Self-driving cars utilize this type of AI to interpret the environment and make decisions based on past driving experiences.Theory of Mind: This refers to AI systems that can understand human emotions, beliefs, intentions, and thought processes. They can anticipate human behavior and respond accordingly. Theory of Mind AI is still largely theoretical and is a subject of ongoing research.Self-aware AI: This is the hypothetical level of AI where machines possess consciousness and self-awareness similar to humans. They would have subjective experiences and emotions. Self-aware AI is largely a topic of philosophical debate and science fiction rather than current technological reality.
???????Chatgpt, Gemini etc. are referred to as weak learning AI because they are large?language models. They cannot be referred to as fully reactive machines because they can respond in real-time.
- Artificial General Intelligence (Strong AI): AGI is a theoretical concept. It would possess human-like intelligence, learn from previous experiences, and adapt to new tasks without human intervention. General AI would have the capacity to perform any intellectual task that a human can do. This type of AI is still largely theoretical and does not yet exist.
- Super AI (Artificial Superintelligence): Super AI is also theoretical and goes beyond AGI. It would surpass human cognitive abilities and possess advanced reasoning, judgment, and problem-solving skills. ASI represents the most advanced form of AI and is also currently theoretical.
What are its applications for startups?
Over 60% of business owners in the United States of America (USA) believe AI will increase productivity. Specifically, 64% stated that AI would improve business productivity, and 42% believe it will streamline job processes. There are a few ways this can be achieved; we will break them down below.
Incorporate AI into your core value proposition. This happens when AI is developed or incorporated into your current product in a way that enhances the experiences. This can be done by developing your own AI internally or using available APIs. A few examples of products that have included AI into their core value proposition are:
- Snapchat: Known for its ephemeral messages, Snapchat uses an AI chatbot called My AI built on OpenAI’s ChatGPT technology. Users can exchange messages with this conversational AI and provide feedback for continuous improvement.
- Bing: Microsoft’s search engine, Bing, doubles as a chatbot. It responds to questions, produces creative text and images, translates, and proofreads writing in multiple languages. The chat feature runs on GPT-4 technology.
- Duolingo: An educational app that uses AI to personalize language learning experiences for users.
- Google Recorder: An AI-powered transcription app that converts spoken words into text.
- Calm: A health and wellness app that offers meditation, relaxation, and sleep stories powered by AI.
Some of these companies are built on other AI platforms like GPT 4. A few examples of platforms your startup can leverage include:
- Google Cloud AI: Google offers a range of AI APIs, including:
- Text Analysis API: This API allows you to perform syntax analysis, entity analysis, and sentiment analysis on text data in multiple languages.
- Vision AI: Provides image recognition, object detection, and content moderation capabilities.
- Speech-to-Text API: Converts spoken language into written text.
- Natural Language API: Analyzes text for sentiment, entities, and syntax.
- Translation API: Translates text between languages.
- AutoML Vision and Natural Language: Customizable machine learning models for specific tasks.
- OpenAI API (ChatGPT): Developed by OpenAI, this API allows you to access GPT-3, a powerful language model. You can use it for natural language processing, code generation, and more.
- Wit.ai API: Wit.ai, owned by Facebook, provides speech recognition and natural language understanding capabilities. It’s great for building chatbots and voice interfaces.
- SummarizeBot API: SummarizeBot offers text summarization, sentiment analysis, and language translation services.
- Rev.ai: Rev.ai provides automatic speech recognition (ASR) for transcribing audio and video content.
- Vertex AI: Google’s Vertex AI platform offers machine learning APIs for training, deploying, and managing models.
Deepomatic Fashion Apparel Detection API: If you’re working on fashion-related apps, this API can detect clothing items in images.
Use AI tools to make your activities easier. AI Tools are being built at a rapid pace today. All these tools could make the day-to-day running of your startup so much easier. Below are a few examples.
- ChatGPT: Developed by OpenAI, ChatGPT is a conversational AI system that excels in customer support, engagement, and content creation. It’s a game-changer for startups, assisting with research, summarizing meeting transcripts, and structuring written content. Key Features:
- Human-quality text generation.
- Seamless language translation.
- Valuable insights for diverse topics.
- Versatile content creation (blog posts, articles, social media).
- Bricabrac: An AI tool that helps startups discover relevant content and trends across the web. It assists with content curation, keeping you informed and inspired.
- Beemer: Beemer is an AI-powered pitch deck generator that creates professional presentations in just 2 minutes. It supports both Google Slides and PowerPoint. Features:
- Sleek and minimalistic slide deck template: Designed to impress, with a focus on your content. Easy mockups and good vibes.
- Pitch Booster (starts at $10): Includes an executive summary, investor email pitch letter, marketing campaign, and extra customizable slide layouts.
- I Lawyer: This tool assists attorneys in analyzing legal documents, identifying crucial terms, and generating relevant contract templates within seconds.
At Diligence Africa, we leverage AI for tasks like data verification, while ensuring the utmost level of data privacy. This can be a valuable asset for startups that need to make informed decisions about potential partners, or investors.
In Conclusion the artificial intelligence (AI) market is poised for explosive growth, projected to reach $407 billion by 2027. Its impact is comparable to that of the internet, revolutionizing industries worldwide. By understanding the different types of AI and leveraging its applications through incorporation into core products or using AI tools, your startups can ride the wave of AI innovation, enhancing productivity and competitiveness in an ever-evolving market landscape.
