Artificial intelligence is the simulation of human intelligence by computer systems. It is getting smarter and more powerful, which is why companies in all fields want to get their hands on it.
Different kinds of AI can help businesses by making it easier to predict how customers will act, which lets them make business decisions more quickly. It can also save time and money for businesses by automating processes and tasks and making workers more productive.
In line with the state of the economy right now, investment in artificial intelligence technology has gone down, but that doesn’t mean it’s less popular. The State of AI Report, written by AI investors Nathan Benaich and Ian Hogarth, says that big companies have grown their AI teams and teamed up with AI startups.
A dating app based in West Hollywood Tinder, for instance, uses machine learning, which is a type of artificial intelligence that focuses on making computer algorithms that get better on their own as they are used.
Mashable, an online news site, says that people have taken this a step further by using ChatGPT, a chatbot made by the San Francisco company OpenAI, to help them have conversations.
A user will tell the bot to write something, and ChatGPT will start a conversation based on what the user says. Semafor said in a report from last week that Microsoft is going to put $10 billion into OpenAI.
MeetKai, a conversational AI company based in Marina del Rey, recently teamed up with the Los Angeles Chargers. This partnership will help the sports team make digital products for its fans.
How AI can help
MeetKai’s co-founder and chairwoman, Weili Dai, said that artificial intelligence is for everyone. She also said that she is very happy to see companies big and small working on the development of AI.
“Our plan is to map the real world as seen through the metaverse, which is a virtual space, and then use AI technology, features, and tools in the virtual world,” Dai said.
She went on to say that the most useful thing AI tools can do for businesses is help them improve their training methods so they can not only save money but also get better results.
“A partner came up to me and said, “I have more than 16 employees around the world, and I have to train them all the time.” “Travel is so expensive, and depending on who is training them, it might not be as good or effective,” Dai said. “But what happens when AI is used?” All of these trainings can be done at the speed of light in a virtual space, and everything will be copied exactly. “It stays the same.”
Dai said of the partnership, “I’m so happy to see MeetKai’s innovation and technology leadership in driving advanced AI solutions across different industries to make everyone’s lives better.” We’re very happy to work with the Los Angeles Chargers, and I think this will set a new standard for the sports business.
The Chargers will be able to use MeetKai’s AI technology, which can handle natural conversation and personalise search results, to create new in-stadium and at-home experiences, such as an AI-based locker room tour.
Jim Rushton, the L.A. Chargers’ senior vice president of stadium affairs and strategy, said that using artificial intelligence technology is a way to improve relationships with customers, or in their case, fans.
“There’s a lot out there about making experiences unique.” Rushton said, “The AI part of MeetKai, which is their conversational AI chatbot, will give the organisation or companies a chance to better serve their customers based on the specific questions they are asking and the answers they need.” “Then, from a 3D mapping point of view, it’s a chance to give customers, or fans in our case, a look at how the organisation works behind the scenes, or to make different and new experiences for their customers.”
Rushton said that this partnership gives fans a chance to stay interested the other 345 days of the year. A football season has 20 games.
Rushton added, “In the sports world and especially in Los Angeles, people have a lot of options for how to spend their time, so we need to always be looking for ways to build deeper and more meaningful relationships with our fans.”
Adam Struck is the founder and managing partner of the venture capital firm Struck Capital, which is based in Santa Monica. He said that a lot of the innovation in AI is happening in the application layer, which is the part of an app that controls how it talks to other devices.
He said that companies in all fields can benefit from using AI because it can help them learn from data and make their products or services better.
Chances worth taking
“In the same way that we think of ourselves as getting “wiser” as we age because we go through different kinds of trouble, learn from it, and hopefully change in the right direction, you can basically go through the “trials and tribulations” of life or product development automatically and systematically with machines using a proprietary data set, artificial intelligence, and machine learning,” Struck said. “I think that for the first time, there’s a real chance to just take in data, create a feedback loop, learn from that data, and use that to make your product more accurate.” Technology innovation can be used literally anywhere or on anything as long as there is some kind of technology and some kind of product.
Struck said that the most popular topic in AI right now is generative AI, which is an AI that can make “fake” content instead of just analysing data. Generative AI models use blog posts, poems, and art to make text and pictures.
“I think that if you talked to 100 venture capitalists and asked them, “What kind of area are you most excited to invest in?” “I think that a lot of money will be put into any kind of core technology innovation that has some kind of automated feedback loop, like AI or machine learning,” Struck said.