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Business Tech News: The Most Popular AI Tools of 2024
Here are five business technology news events that happened this week and how they affect your business. Did you miss them?
Business Tech News #1 – The Most Popular AI Tools of 2024 (And What That Means).
ZDNet’s David Gewirtz reported on the most popular AI tools for 2024. Highlighting data collected in August, the most used AI tools by market share are: ChatGPT (54.96%) ; the publishing tool Canva (14.92%); DeepL translation platform (5.38%); Google Gemini (4.75 percent); and Character.AI (3.90 percent). Gewirtz noted that it’s difficult to gauge the popularity of each, because some tools are standalone while others are integrated into products. Metrics from platforms such as Semrush and Similarweb were used to estimate traffic volume. Claude, Perplexity AI and Microsoft Copilot also made the list. (Source: ZDNet)
Why it matters to your business:
Everything is good and fun. But it’s like when the iPhone was introduced and then the AppStore came and all these apps appeared. The good ones have either become unicorns or been swallowed up by big tech. The list above? I bet in a few years it will be completely different. In 2024, AI was overrated and unreliable and certainly not ready for prime time use by businesses. But of course, these apps will be better and smarter and likely replaced by more advanced offerings.
Business Tech News #2 – Big changes are coming to AI in 2025: Microsoft.
According to Microsoft executives, there will be significant changes to AI in 2025. Ashley Llorens, vice president and general manager of Microsoft, said we can expect AI to handle “a broader set of tasks sophisticated.” Companies will release more powerful and energy-efficient AI models. AI agents will become more prominent, performing specific tasks autonomously or semi-autonomously (for example, extracting specific information from expense reports or simulating conversations to analyze which company processes are most efficient). Efforts to bring AI capabilities to more consumers will be intensified. Microsoft is developing AI agents to connect employees and facilitate tasks such as scheduling “coffee chats” with colleagues. (Source: Yahoo Finance)
Why it matters to your business:
I wrote here on the agents. And I wrote here about how some industries – particularly financial services – are already replacing people with AI applications. All of this will be rolling out in 2025. But before you get excited, just remember the oldest law in technology: NEVER buy the first version of any software, especially if it was created by Microsoft. Agents will need a year or two to get rid of bugs and become more ubiquitous in our business applications. We will need this time to fully understand what they can do and how to best use them in our businesses.
Business Tech News #3 – LegalZoom and 1-800Accountant join forces to provide comprehensive tax and accounting solutions to small business owners.
LegalZoom and 1-800Accountant have entered into a multi-year strategic partnership to offer comprehensive tax and accounting solutions to small business owners. According to the press release, LegalZoom customers will have year-round access to expert-led accounting and tax services provided by 1-800Accountant. A recent survey found that tax management, liability protection and legitimacy are key motivators for small business owners, making consulting services critically important. This collaboration aims to enhance LegalZoom’s ecosystem of products, partnerships and services that meet the legal, compliance and business management needs of small business owners. The new product offering is expected to launch in January 2025. (Source: GlobeNewswire)
Why it matters to your business:
It’s a good idea for businesses that use either service to take advantage of the other service. Hopefully this partnership will provide a more cost-effective solution. But this will concern very small businesses, perhaps those with fewer than 10 employees. As businesses become larger and more complex, their taxes should be handled by CPAs and other competent professions who are more familiar with their clients’ businesses, not a simple “800” accounting department with a rotating staff.
Business Tech News #4 – This is how HR will transform in 2025.
HR expert Cheryl Swirnow presented her key predictions for how HR will transform by 2025. Swirnow predicts that HR will move from a supporting role to a central player in business leadership, with more than 55% of CEOs involve HR managers in strategic decisions. HR will no longer be seen as the only answer to retention and culture challenges; instead, companies will adopt a more collaborative and cross-functional approach. Investments in HR technology will increase significantly, as companies that do not adopt advanced HR technologies will struggle to remain competitive. Additionally, employee well-being – an issue that workers have become more vocal about in the pandemic era – will become a central company priority. “HR is not just a supporting player: it is a game changer for business success,” Swirnow said. (Source: Fast business)
Why it matters to your business:
CEOs involving HR leaders in their strategic decisions is not a technology issue, it is a critical management issue and we should all do it. HR technology decisions should be made in collaboration with an organization’s HR, IT, and other leaders.
5 – Wix launches AI feature allowing businesses to interact with their customers online.
Wix’s new AI feature – AI Site-Chat – is designed to help businesses engage with their customers online. The Site-Chat AI acts as a virtual agent, answering customer questions and providing relevant information 24 hours a day, even when business owners are unavailable. It integrates with the site’s internal systems to pull in live data, ensuring accurate, up-to-date responses – a key function in lead capture. The chat functionality is fully customizable to reflect the brand voice and can be configured according to specific guidelines. “Businesses can seamlessly use this feature to provide conversational customer service, sales, and real-time support in one place,” said Yaniv Ben Simon, product manager for AI Site-Chat at Wix. (Source: Cube MarTech)
Why it matters to your business:
That’s great, but businesses should also consider similar AI offerings from their CRM (customer relationship management) vendors. Most good consumer CRM platforms have these types of features that are easily integrated into a website and can then be used for other service and marketing efforts.
Every Sunday, I summarize five business technology news stories and share my thoughts on why they matter to your business.
