Prescience AI <Connect> | Edition #2
Welcome to the 2nd edition! Prescience AI Connect newsletter brings you the latest news, trends, insights, experts' opinions, and real-life success stories from the AI, Data, and Analytics space.
In this week’s edition of "AI Connect," we look at Google’s AI-driven advertising innovations, the emerging trend of Emotion AI in business software, and the new OpenAI Canvas platform for human-AI collaboration.
Also, watch the latest AI Connect Podcast episode and check out the recently released Enterprise AI Readiness Assessment for senior tech leaders.
AI Currents?
Google announced new AI-powered Advertising Innovations?
At the recent Google Marketing Live event, Google unveiled AI Overviews and Google Lens Shopping Ads, which integrate ads into search results. These features address the rising demand for voice and visual search, creating new advertising opportunities for businesses.
AI Overviews deliver quick answers alongside relevant ads, while Google Lens enables visual product searches with instant details like reviews and prices.??
Integrating ads into AI-generated summaries and visual searches delivers quick, relevant product info, boosts search functionality, and helps companies increase conversions and ad effectiveness.
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Introducing Emotion AI - The next trend for business software?
Emotion AI, also known as affective computing, allows machines to recognize and respond to human emotions. A recent report shows significant growth in the enterprise SaaS sector in Q2 2024, driven by a sharp increase in venture capital investments.
This trend highlights the growing integration of advanced technologies like Emotion AI into business solutions.
This would benefit businesses by enhancing customer engagement, improving product development, and providing users with more personalized experiences.
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Open AI Introduced Canvas?
OpenAI recently launched OpenAI Canvas, a groundbreaking platform designed to enhance human-AI collaboration in writing and coding.
This tool integrates advanced AI capabilities into creative workflows, allowing users to brainstorm, create content, and streamline coding processes more efficiently.
Canvas aims to transform creativity and productivity in the digital age.
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Trends & Insights: AI Adoption Surges in the CPG Industry
In the consumer-packaged goods (CPG) sector, there's been a notable surge in the adoption and impact of generative AI (gen AI).
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According to a 2024 survey, 71% of CPG leaders have integrated AI into at least one business function, marking a significant rise from 42% in 2023. Moreover, 56% now regularly utilize gen AI, reflecting its growing influence within the industry.
This shift is expected to enhance personalized marketing strategies and optimize supply chain operations, leading to better consumer experiences and stronger competitive positioning in the market.
Quote of the week??
AI development is not hitting a wall or slowing down. In fact, we will see as much change in AI over the next 10 years as we’ve seen in the last 10.
Geoffrey Hinton, Godfather of AI and the 2024 Nobel Prize Winner in Physics
Prescience Tidbits:
Prescience released an Enterprise AI Readiness Assessment
Different organizations are at different stages of their AI journey. The question is, how do you know if your organization is well prepared to scale AI?
Prescience recently developed an Enterprise AI Readiness Assessment (for senior tech leaders) based on discussions with our customers, industry leaders, and AI experts, combined with our own experience in helping clients build and scale AI for their businesses.
Who should take this assessment?
Senior Tech Leaders, AI/Digital Transformation Executives, and Data Officers driving innovation and growth for their organizations.
The assessment will give you an AI Readiness Score and a personalized report detailing your company’s AI maturity and next steps.
Before you start, read Precience Co-founder and CTO Shivakumar Krishnamurthy's blog on how AI Maturity can shape your success.
You can also watch the latest episode of the AI Connect Podcast, in which Shivakumar Krishnamurthy explains the assessment in more detail.
The assessment must be taken by a senior leader in your organization with a holistic view of the business and the tech.
Here's the assessment link ?? https://lnkd.in/gRnrdimr
We want to hear from you about the AI Connect Newsletter. Please share your thoughts, feedback, and ideas in the comments section.
About Prescience
Prescience works with large Fortune 500 companies and midsized businesses globally, helping them unlock the power of enterprise data, thus enabling faster and better business decision-making. Founded in 2017, the company offers comprehensive data solutions and services that integrate AI and machine learning across analytics, business intelligence, data engineering, and more—driving measurable business value and ROI for its customers.
You can read some of the customer success stories here.