Useful AI For Business Workshop Review
The Power of AI for Businesses
Gant Laborde Co-Owner & Chief Innovation Officer of Infinite Red
I recently attended the Useful AI - Business workshop hosted by RenderATL on June 12, 2024. The workshop offered valuable insights into how artificial intelligence (AI) transforms businesses across various industries.
Goals For This Workshop:
Understanding AI in Business: This section explored the fundamentals of AI and its potential impact on various industries. It also helped participants identify potential AI opportunities within their businesses.
Case Studies: AI Transforming Industries: Through real-world examples, the workshop showcased how AI is being used in sectors like finance, healthcare, and retail. This provided valuable lessons learned from successful AI implementations.
Developing an AI Strategy: The workshop guided participants through crafting an effective AI strategy tailored to their business needs. It also addressed considerations for AI project management and deployment.
Exercise in Creative Features: This interactive session challenged participants to develop high-impact AI features through a creative exercise modeled after Shark Tank.
Q&A and Resources: The workshop concluded with a Q&A session where attendees could ask questions and explore additional resources for further learning about AI in business.
What is Infinite Red:
A quote from the company website “Infinite Red is a team of down-to-earth designers, engineers, and teachers, helping connect dots and push tech forward. We’re just a few humble humans (and cats) using React Native to help people get things off the ground and out into the world.”
Case Study:
Uber:
Gant brings up how Google created Google Maps in 2005 and people didn’t know its capabilities until Uber was launched in 2011. Uber was able to utilize Google Maps in a way that no one anticipated.
“I want to tell you about this amazing thing about Uber when you're sitting there and you are looking for where's my car and you have a custom map with cars driving around on it showing you exactly where it is, how they're gonna pick you up and what that service feels like you're like this is great I can order it from my phone watch the process get in there know the price and watch the custom map as I go to my location maybe even send it to a friend to make sure I'm going to be okay”
“That's a fantastic idea it's a matter of fact it's such a good idea that mobile consulting company people constantly identify themselves as the Uber bought for what”
Developing an AI Strategy:
4 categories that stopped AI:
What stopped AI
Computers
"In the early days, AI advancements were limited by the technology of the time. In the 1950s, computers were massive, often the size of entire rooms. They could handle basic calculations, but the idea of complex processing was almost unimaginable. The technology couldn't support it."
Data
"Data was another major hurdle. For instance, if you wanted to create a kangaroo detector in the 1990s, gathering 10,000 images of kangaroos was a daunting task. You'd need to buy film in bulk, travel to Australia, take numerous photos in various conditions, and then scan each image manually. The process was incredibly time-consuming and resource-intensive."
Ideas
"Today, we have an abundance of innovative ideas waiting to be implemented. However, many concepts like 'Uber but for this' or 'ChatGPT but for that' haven't been fully realized. It's not just about applying AI to existing frameworks; it's about finding unique benefits and features that make sense. We have a vast pipeline of AI models and products that can transform industries, and we'll explore some of these models today."
Fear
"For business owners, the fear of the unknown is a significant barrier. When you're unsure about the legal implications or precedents of new technologies, it's risky to be the first to adopt them. This is a critical concern for everyone in this room, as applying AI to business requires careful consideration and strategic planning."
Exercise in Creative Features:
I gave a business pitch:
Early in the workshop, Gant referenced an app from the original iPhone called "I Am Rich." Inspired by that, I developed an app named "I Am Rich Events." This app leverages AI speech-to-text technology to create transcripts and notes for events that busy individuals can't attend.
Using Google’s Speech-to-Text:
I applied my skills by using Google Cloud Speech-to-Text to transcribe this workshop, which helped me improve my notes and create this newsletter. Speech-to-Text can transcribe lectures, meetings, or presentations, making them accessible to people who are deaf or hard of hearing, or those who prefer written content. "I Am Rich Events" was brought to life through AI. I conceived the business idea and utilized the workshop to develop this project.
Resources:
Gant Laborde’s book Learning TensorFlow.js:
Top Quotes from Gant:
People don't write the AI anymore. We use machine learning. We give the machine data to write the algorithm for what it's supposed to do.
There are going to be discussions about data security and how to protect your AI from being hacked.
That's the problem with superpowers: they can create supervillains.
If you compare our capabilities now to those of 100 years ago, it's clear that we've made significant progress. Everyone's quality of life has improved, and our appetite for more, better, and greater advancements continues to grow.
The Jevons Paradox:
Gant makes several references to the Jevons Paradox. The paradox states that an increase in efficiency in resource use will generate an increase in resource consumption rather than a decrease.
My Key Takeaways:
AI's Potential to Disrupt Industries: The workshop highlighted how AI can revolutionize industries, similar to how Uber's innovative use of Google Maps transformed the transportation landscape.
Gant Laborde's Expertise: Gant Laborde, a renowned expert in AI and author of the book "Learning TensorFlow.js," shared his insights throughout the workshop.
AI-powered Idea Generation: I participated in a creative exercise where I pitched an app concept called "I Am Rich Events," which utilizes AI speech-to-text technology to generate transcripts and notes for busy professionals who miss important events.
Using Google Cloud Speech-to-Text: I leveraged Google Cloud Speech-to-Text to transcribe the workshop content, enabling me to create this comprehensive newsletter.
The Four Forces Stifling AI Progress: The workshop discussed the four main roadblocks to AI advancement: computational limitations, data scarcity, lack of innovative ideas, and fear of AI's potential misuse.
Top Quotes from Gant Laborde: The workshop featured thought-provoking quotes from Gant Laborde, emphasizing the evolving nature of AI development and the importance of data security in the context of AI.
The Jevons Paradox in AI: Gant also introduced the concept of the Jevons Paradox, highlighting how increased efficiency through AI can lead to unintended consequences, such as increased resource consumption.
Thank you to Gant Laborde for delivering a fantastic workshop! Thank you to the BTBSQUAD and the networkers for your continued support.