The Secret to Investing in the Right AI Tools

💡AI TRIVIA

Sci-fi books and movies have often paved the way for real tech innovations. Consider the film Blade Runner. Its AI-powered replicants, with their blend of human-like emotions and advanced tech, draw inspiration from the androids in Philip K. Dick's novel, Do Androids Dream of Electric Sheep? This isn't just a nod to creative imagination but also highlights how fiction can shape the development of cutting-edge technologies. In a time where AI's role is growing in various sectors, the connection between imaginative storytelling and technological progress becomes even more relevant. What other sci-fi ideas could become reality next?

We need to invest in the correct tools first. But how do we know that we are “really” investing in the correct tools? How about with AI Tools? How can we ensure, as business owners, that we are ensuring the correct tools for efficiency, productivity, and ROI?

📈 AI See You: Trends and News

To understand the importance of investing in the right tools, let’s consider some quick stats on AI and its impact on businesses:

Global AI Growth Rate is at 40%

AI is on a fast track, with worldwide growth soaring at around 40% annually. This surge isn't slowing anytime soon. In fact, companies around the globe are embracing AI more and more, with growth expected to hit 36.6% each year from 2024 to 2030. Can you imagine the possibilities?

In just five years, the revenue from AI services will have grown by more than 6 times.

AI service revenue is on a wild growth ride. Back in 2020, these services brought in around $19.4 billion. Fast forward to 2022, and the market swelled to an impressive $62.5 billion. Looking ahead to 2025, the forecast suggests AI could hit a staggering $126 billion in yearly revenue.

Almost 100 million people will be diving into the AI industry, if things go as predicted.

The surge in this field means we will need more hands on deck. Fast forward to 2025, and around 97 million people will be needed to meet the growing demands of this booming sector.

If these are some quick stats for AI in the future, then it’s imperative to invest in the correct tools now more than ever.

🛠️ Leveraging AI in Your Business

From numbers to more tangible actions, this is how we can ensure that we are investing in the correct AI Tools:

Looking at the Goal

Business owners or managers must answer, "What are we trying to do?"

Let's say you're trying to increase marketing outreach, and you have a team that's writing five email campaigns. We look at a tool that can speed up that process. Maybe it's generating the initial message, or maybe it's making sure the messages that your team drafts are in the right tone for the company and speak in a way that is aligned with your brand.

It's looking at the goal and understanding what you are trying to accomplish, then looking at opportunities for automation with AI.

Testing it Out

After you know the goal, you need to try out some tools. There are always new tools to use; there are always new changes to the tools. You don't jump because there are some new shiny things out.

Have a way of constantly checking and updating tools, like once per quarter. You need to research what updates are happening, or maybe you can empower someone to be the champion of that tool and learn the ins and outs. This way, you stay updated on the latest changes or updates to the tools.

Listen to the Right People

Shameless plug, keep subscribed to the AI StandUp and stay updated with GemStack.

See what new things are coming out, look for industry leaders, the Sam Altman of the world, and the meta-organizations. See what they're doing, how they are expecting people to use their tools, listen to what they have to say and then take a step back because advice is only as good as you implement it.

🫶 From The Hearts of the AI Experts at GemStack

Become more informed about these technologies. Understanding their use cases and where they fit into business and aligning that with your strategy is the best way to invest in the correct tools.

Check out the AI StandUp’s newsletters, share with a friend, and double the learning. The best way to be informed is by sharing.

👊 The Reality of the Situation

The interesting thing about artificial intelligence is that everyone wants to use it because it's popular, and at the end of the day, it's a tool. It's just pieces of technology that we can begin to leverage to increase efficiency.

Just because it's new, just because it's there, doesn't mean you have to use it. Just because a company is promoting it doesn't mean it's great.

🤔 Intrigued by AI's Potential, But Unsure of the Next Step?

We get it! This issue might have you brimming with possibilities, but where do you begin? The AI StandUp is made with ❤️ by GemStack and we are here to bridge the gap. Head over to our website, or simply reply to this email with your specific questions. Let's turn your AI curiosity into a game-changing reality.

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