Business Tech News: The Most Popular AI Tools of 2024 (Revisited)
Latest Business Tech Trends: Top Artificial Intelligence Utilities of 2024
In the realm of business tech news, here are five key happenings this past week and the impact they might have on your operations. Did you happen to miss them?
Business Tech News #1 - The most popular AI tools in 2024 (and what that truly implies).
David Gewirtz from ZDNet highlighted the most prominent AI tools for 2024, based on data collected in August. The top-used AI tools, measured by market share, are as follows: ChatGPT (54.96%); publishing tool Canva (14.92%); translation platform DeepL (5.38%); Google Gemini (4.75%); and Character.AI (3.90%). Gewirtz pointed out the challenge in measuring the popularity of each tool, as some are standalone, while others are integrated within products. Metrics from platforms like Semrush and Similarweb were utilized to estimate traffic volume. Other notable mentions include Claude, Perplexity AI, and Microsoft Copilot. (Source: ZDNet)
Why this is relevant for your business:
This is similar to the introduction of the iPhone, followed by the explosion of apps in the AppStore. Successful tools from this list might become unicorns or be acquired by major tech corporations. However, it's important to remember that AI was heavily hyped in 2024 and might have been unreliable for businesses. Only time will tell if these tools will improve, become smarter, and be replaced by more advanced offerings.
Business Tech News #2 – Major shifts in AI coming in 2025: Microsoft.
Microsoft execs stated that significant changes are on the horizon for AI in 2025. Ashley Llorens – Microsoft’s corporate vice president and managing director – mentioned that we can expect AI to handle "a more sophisticated set of tasks." Businesses will unveil more powerful and energy-efficient AI models. AI Agents will gain prominence, undertaking specific tasks autonomously or semi-autonomously (e.g., extracting specific information from expense reports or simulating conversations to analyze which company processes are most efficient). Efforts to cater AI features to an increased number of consumers will amplify. Microsoft is developing AI agents designed to facilitate tasks like scheduling "coffee chats" with colleagues. (Source: Yahoo Finance)
Why this is relevant for your business:
I've covered agents in depth earlier. Many industries, such as financial services, are already integrating AI applications. However, it's important to exercise caution when using these new technologies, as the first available versions may be riddled with bugs. Allow time for developers to rectify these issues and fully understand the capabilities of AI agents in your business operations.
Business Tech News #3 – LegalZoom and 1-800Accountant join forces, offering comprehensive tax and bookkeeping solutions for small business owners.
LegalZoom and 1-800Accountant have agreed to a multi-year strategic partnership to provide full-service tax and bookkeeping solutions to small business owners. According to the press release, LegalZoom customers will gain access to year-round, expert-led bookkeeping and tax services provided by 1-800Accountant. The need for tax management, liability protection, and legitimacy are key motivators for small business owners, making advisory services essential. This collaboration aims to expand LegalZoom's ecosystem of products, partnerships, and services catering to small business owners' legal, compliance, and business management requirements. The new product is set to launch in January 2025. (Source: GlobeNewswire)
Why this is relevant for your business:
This collaboration will likely offer small businesses more cost-effective solutions. However, as companies grow and become more complex, tax requirements will need to be handled by qualified professionals.
Business Tech News #4 – The evolution of HR in 2025.
HR expert Cheryl Swirnow penned her views on how the HR function will evolve by 2025. Swirnow predicts that HR will shift from a support role to a pivotal player in business leadership, with over 55 percent of CEOs involving HR leaders in strategic decisions. HR will no longer be solely responsible for addressing retention and cultural challenges; instead, companies will adopt a more collaborative, cross-functional approach. Investments in HR technology will surge as companies unable to adopt advanced HR technology may struggle to remain competitive. Furthermore, employee wellbeing, a priority brought to light during the pandemic era, will become a fundamental aspect of corporate strategy. (Source: Fast Company)
Why this is relevant for your business:
Ensuring a collaborative approach between HR executives, IT, and other business leaders is crucial when making HR tech decisions. CEO involvement in HR decision-making is important for overall business success.
Wix's latest AI innovation, named AI Site-Chat, is meant to enhance online interaction between companies and their clients. Functioning as a digital assistant, AI Site-Chat responds to customer queries and offers pertinent info round-the-clock, even when business proprietors are absent. It syncs with the site's internal structure to retrieve real-time data, providing precise and current answers – a crucial aspect in lead generation. The chat functionality is completely adaptable to mirror the brand's distinctive tone and can be tailored with specific directives. As stated by Yaniv Ben Simon, the Head of Product for AI Site-Chat at Wix, "Businesses can effortlessly leverage this feature to provide instant, dialogical client service, sales, and support all in one locale." (Citation: MarTech Cube)
Why this matters for your enterprise:
While this is advantageous, it's essential for businesses to scrutinize comparable AI services provided by their CRM (client relationship management) vendors as well. The majority of reputable, popular CRM platforms feature this type of functionality, which is straightforward to incorporate into a website and then utilize for additional service and advertising purposes.
Each Sunday, I compile a summary of five significant business tech news pieces and share my insights on why they're relevant for your enterprise.
In the continually evolving landscape of business technology, companies like OpenAI and LegalZoom are making waves. OpenAI, known for its chatbot model ChatGPT, is just one of the top AI tools predicted to dominate in 2024 by David Gewirtz from ZDNet. Meanwhile, LegalZoom, a leading legal tech company, announced a partnership with 1-800Accountant to offer comprehensive tax and bookkeeping solutions for small business owners. (Source: GlobeNewswire)
In addition, tech giants such as Microsoft are also focusing on AI advancements. Microsoft execs anticipate that AI will be capable of handling a more sophisticated set of tasks in 2025, with businesses unveiling more powerful and energy-efficient AI models. AI agents will also gain prominence, performing specific tasks autonomously or semi-autonomously. (Source: Yahoo Finance)
Besides these key players, other notable mentions in AI innovation include tools like Claude, Perplexity AI, and Microsoft Copilot. Furthermore, Wix, the popular website builder, has introduced AI Site-Chat, a digital assistant that provides instant, dialogical client service, sales, and support to improve lead generation and enhance interaction between companies and their clients. (Source: MarTech Cube)
When considering adopting these AI tools, it's crucial for businesses to evaluate their own needs and compare offerings from various vendors, including their CRM platforms, to ensure they're making the most informed decision.
