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Bracing for the AI Revolution: What Small Businesses Need to Know

Line of diverse people on street looking above at banner hologram about AI for small businesses

The rise of ChatGPT and rapid advances in artificial intelligence (AI) are creating seismic shifts for businesses. As someone who helps women entrepreneurs succeed, I recently hosted a YouTube Live unpacking major AI developments and their implications.

On the consumer front, OpenAI has unveiled massive upgrades to ChatGPT.

🔥 The new GPT-4 Turbo model is faster, cheaper, and more capable.

🔥 Exciting new features like generating images, summarizing long documents, creating customized "GPTs" (bots), and building conversational assistants are now accessible to regular users.

📌 However, the White House also just released a sweeping AI Bill to manage risks around privacy, bias, job losses, and more as this technology proliferates.

So what does this one-two punch of innovation and regulation mean for small business owners?

Here are a few key takeaways from my AI Livestream:

  • Leverage new tools to easily build customized AI bots and assistants that create content, designs, analyze data, etc. But carefully evaluate where automation fits vs. complements human roles.

  • Watch for grants and partnerships to help responsibly integrate AI, as governments push for more competition beyond just OpenAI.

  • Monitor regulations that may raise the costs of using AI without proper testing and guardrails. But also watch for opportunities to consult.

  • Reskill and gain technical fluency to avoid job disruption as AI proliferates. Position yourself on the empowering side of the AI revolution.

The pace of progress is staggering.

But by understanding these developments and trends, small businesses can strategically harness AI to enhance productivity, creativity, and customer success, while building an ethical, human-centric future.

You can watch the full AI update and analysis on my YouTube channel

What are your thoughts on navigating the rise of AI as a small business leader?

Share your perspectives below! 👇🏾👇🏾👇🏾👇🏾


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