Growth Ritual #17
📋 IN THIS ISSUE: How to Integrate AI into Our Daily Workflows ✨ Warning: Your Job's Value is Shrinking ✨“Photoshop is Dead, Long Live Canva”? ✨ AI-Focused Tech Firms See Big Jump in Market Cap
🎙️ AUDIO DEEP DIVE OF THIS ISSUE:
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🧙♂️ TIPS & TRICKS:
How to Integrate AI into Our Daily Workflows
While artificial intelligence (AI) is a constant topic of discussion, with promises of revolutionizing various aspects of life, many businesses struggle to integrate these tools into their daily operations.
We read news, see pockets of innovation, say “wow” but when we back to work, we continue to use traditional methods like nothing happen.
However, the potential of AI to streamline workflows and enhance quality is undeniable. By leveraging existing AI tools and equipment, we can create a more efficient and effective way of doing business.
In my own experience, AI tools have significantly improved my daily work. For those curious about how I've achieved this, here's a breakdown of the specific ways I've integrated AI;
Artificial intelligence (AI) has become an invaluable asset in my work, acting as both a mentor and a time-saving assistant.
My AI Mentor:
Knowledge Powerhouse: I utilize AI language models like ChatGPT to access vast amounts of information quickly. This allows me to delve deep into complex business processes and conduct thorough analyses, supporting strategic decision-making.
Scenario Planning: For instance, AI can help evaluate various scenarios and identify the most suitable solutions during new business strategy development. This could involve crafting effective marketing campaigns or generating innovative product development ideas.
My AI Assistant:
Time Optimization: AI functions as a real timesaver, automating repetitive and tedious tasks like data analysis, report generation, and customer service.
Streamlined Workflows: An example would be using AI to write product briefs. By providing key points and documenting specific areas (unit tests, user flows, etc.), AI generates draft briefs in a fraction of the time. While some refinement is necessary, this reduces a two-day task to a mere two hours. Tools like Zapier further enhance this by automating data workflows between applications, minimizing data entry and errors.
This approach positions AI as my intelligent colleague – similar to how we filter advice from mentors, managers, or new colleagues. Just like in real-world interactions, critical thinking is applied to the information received from AI tools.
Finding Your AI Fit: Tools and Resources
To illustrate the practical application of AI as a colleague, consider platforms like Staff.ai and Simplified.ai.
These websites showcase various AI tools categorized by specific tasks, making it easier to find solutions tailored to your role and industry.
While our day-to-day work varies greatly depending on our sector and position, understanding the core principles behind AI integration allows for a more personalized approach. With this knowledge, you can easily identify the tools that can most effectively support your work.
📊 TRENDS, RESEARCH & REPORTS:
Warning: Your Job's Value is Shrinking
Technology is rapidly transforming the workplace, and its effects on wages are becoming increasingly clear. This trend disproportionately impacts certain groups of workers.
The graph illustrates how hourly wages have changed between 1980 and 2016, alongside the rise of automation. As tasks are increasingly automated, wages – particularly for those with high school or some college education – are stagnating or even declining.
This suggests that technology is having a more significant impact on low-skilled workers.
However, a similar trend in the 1970s tells a different story. Back then, technological advancements had a less pronounced effect, and wage increases were more closely linked to education levels.
This data highlights a concerning trend: technological advancements in business are exacerbating wage inequality, and this gap may widen further in the future.
To navigate this changing landscape, both employees and employers need to adapt and develop new skillsets.
For a deeper dive into how artificial intelligence is impacting the workplace, consider watching Daron Acemoğlu's presentation titled “Can we have pro-worker AI?” ILO presentation.
📱 NEXT BIG APPS:
“Photoshop is Dead, Long Live Canva”?
This phrase dominated the conversation around Canva's Create event on Twitter, where the new features were unveiled. Micro-influencers, in particular, seemed to embrace this narrative as a marketing strategy.
While Canva's new AI features are impressive, they don't render other products obsolete. Although Canva undeniably aims to position itself as a Photoshop killer, as repeatedly emphasized on their social media, the reality is more nuanced.
Canva's Create event showcased a plethora of AI-powered features designed to appeal to non-professional users. These features are undoubtedly impressive and user-friendly. You can explore them here.
However, the proclaimed “death of Photoshop” was met with skepticism by professional designers. Many countered Canva's claims by sharing their sophisticated designs, “Can not do it with Canva” effectively demonstrating the limitations of Canva. This online battle was quite entertaining to watch.
Interestingly, Canva's attempt to promote its Enterprise product through a promotional song backfired spectacularly. The song was widely criticized as obnoxious, even leading to some users canceling their Canva subscriptions.
Ironically, the backlash itself contributed to the song's viral spread.
The future will undoubtedly witness more intense competition fueled by AI advancements. While these tools become increasingly accessible, the key to success lies in effectively distributing and promoting these features to a broad audience.
📊 TRENDS, RESEARCH & REPORTS:
AI-Focused Tech Firms See Big Jump in Market Cap in June
Nvidia stocks rose as plenty as 27% in June, boosting its marketplace capitalization to $3.34 trillion, earlier than giving up a number of their profits later withinside the month, because of earnings reserving and issues over its excessive valuations.
Microsoft`s marketplace capitalization elevated through 7.6%, even as that of Apple Inc (AAPL.O), establishing a brand new tab surged 9.6% over the last month.
Meanwhile, Amazon.com Inc (AMZN.O), opened a brand new tab that hit $2 trillion in marketplace price ultimate month, turning into the 5th U.S. enterprise to obtain the milestone, using on AI-stimulated enthusiasm.
Broadcom Inc.'s marketplace capitalization jumped approximately 20% ultimate month after it elevated its annual sales forecast for AI-associated chips by 10% and introduced a inventory break up to capitalize in this year's rally in its stocks.
💡 INSPIRING IDEAS:
“Hard choices, easy life. Easy choices, hard life.”
— Jerzy Gregorek