Artificial Intelligence (AI) and Data Analytics- My Weekend Reflections – Oct 20, 2024!

"If you want to go fast, go alone. If you want to go far, go together." – Author Unknown

October in Canada is celebrated as Small Business Month, a time to honor the entrepreneurial spirit that fuels our nation’s economy and local communities. This month highlights the resilience, innovation, and significant contributions of small businesses—those with 1 to 99 paid employees.

As of December 2022, there were 1.22 million employer businesses in Canada, of which 1.19 million (97.8%) were small businesses. These businesses employed 5.7 million individuals, or 46.8% of the total private labor force. Moreover, small businesses contribute an estimated 37% to Canada’s gross domestic product (Key Small Business Statistics 2023).

The contribution of small businesses to our nation’s growth cannot be overstated. In addition to saluting these businesses, it’s equally important to recognize the organizations and individuals that support their growth within our communities. I recall a recent meeting with someone who was eager to help my small business grow in any way possible. I also received an encouraging text from the CEO of one of Canada’s top economic development organizations after I decided to leave full-time employment to focus on family and entrepreneurship. Sometimes, the net that catches you only appears after you take a leap of faith.

During the recent Economic Developers Council of Ontario (EDCO) Eastern Regional event in Kingston, I highlighted the importance of supporting small businesses as they prepare for the disruptions that Artificial Intelligence is bringing—and will continue to bring—to their industries. My AI partners and I are actively exploring ways to help small businesses leverage AI to boost productivity, increase profits, and transform their business models.

As I reflect on this past week, here are a few AI news stories that caught my attention:

AI for Cancer Diagnosis

Harvard Medical School researchers have developed CHIEF, a ChatGPT-like model that can diagnose cancer, predict treatment outcomes, and even forecast patient survival across 19 different cancer types. What sets CHIEF apart is its ability to provide a comprehensive analysis from digital tumor images, identifying key genetic mutations and predicting how well a patient might respond to standard treatments. This breakthrough has the potential to transform cancer care, making diagnosis and personalized treatment more accessible (Sci Tech Daily).

Perplexity

Jeff Bezos-backed Perplexity AI, currently in talks to raise $500 million and double its valuation to over $8 billion, is facing legal challenges from major publishers. The New York Times issued a "cease and desist" notice, accusing the AI company of violating copyright by using its content for generative AI purposes. Despite Perplexity’s claims that it is indexing content for citations rather than scraping data, NYT demands an immediate halt and more details by Oct. 30. This isn't Perplexity’s first clash with publishers—media outlets like Forbes and Wired had previously accused the startup of plagiarism, prompting the launch of a revenue-sharing program to address these concerns. The tension highlights ongoing struggles between AI firms and publishers as generative AI technology reshapes content use (Reuters).

Nuclear Power for AI

Amazon has announced plans to invest in nuclear power to support its data centers with clean energy, as part of its efforts to achieve net-zero carbon emissions by 2040. The company is partnering with Dominion Energy Virginia, Energy Northwest, and Talen Energy to explore the development of smaller, faster nuclear reactors. Amazon is also investing in X-Energy Reactor Company, which recently secured $500 million in financing. This move comes as demand for electricity grows due to the expansion of AI-powered services. Other tech companies, including Google and Microsoft, have also made recent investments in nuclear energy as they look for reliable, low-carbon power sources (Quartz).

?Google’s NotebookLM?

Google has introduced new features for its NotebookLM app, allowing users to customize its podcast-like Audio Overviews. With this update, users can now guide the AI hosts to discuss specific topics or tailor their conversations for particular audiences. Launched last month, NotebookLM’s Audio Overviews feature two AI hosts offering lively discussions based on the sources provided. The app also now supports background listening, enabling users to hear the AI discussions while working in other areas of the app. Additionally, NotebookLM can analyze YouTube videos through transcriptions, adding more depth to its research capabilities (The Verge).

Productivity Tool Analysis – Save Time, Energy, and Money.

As part of my weekend reflections, I’ll be reviewing productivity tools that I’ve found useful and that you can easily incorporate into your daily workflow. One of the most popular AI productivity tool, if not the most popular, is ChatGPT. I personally see the tool as my personal/executive assistant and have found it as an interesting partner in different types of work – including understanding why a programming code is not working or doing a sentiment analysis of a significant communication. I’m also aware of the privacy considerations that come along with using these types of tools. A good friend, Karan Pal , introduced me to Perplexity a couple of months ago and I’ve come to enjoy comparing the output from both ChatGPT and Perplexity.

As AI-powered tools continue to revolutionize communication, it's essential to understand the strengths of different models. ChatGPT is a highly versatile, conversational AI designed for generating human-like text across various domains. It's known for its ability to engage in detailed, coherent conversations, making it ideal for customer support, content creation, and interactive applications.

On the other hand, Perplexity is an AI search engine focused on answering questions and retrieving accurate information. It combines AI with search capabilities, providing users with more structured and factual answers, making it perfect for research or when you need quick, reliable data without lengthy dialogue.

Both tools have their unique strengths—ChatGPT excels in versatility and creative responses, while Perplexity is your go-to for precision and fact-based information retrieval. What are your thoughts on the future of conversational AI?

“In a world of change, the learners shall inherit the earth, while the learned shall find themselves perfectly suited for a world that no longer exists.” – Eric Hoffer

About Patrick

Patrick Egbunonu is the President and Chief AI Officer at Informanos Analytics & Artificial Intelligence Inc. At Informanos, we believe that feedback is integral to leadership growth and success. Our AI-driven platform and advanced analytics enable organizations to easily collect comprehensive feedback from peers, direct reports, supervisors, and other stakeholders. For over 30 years, we've partnered with leadership coaches and organizations to deliver anonymous upward, peer, and 360° feedback reports, as well as other performance management tools that foster growth for leaders and managers. Contact us to discover how Informanos can support your organization's leaders in their growth and success with cutting-edge analytics and AI solutions.

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