- Like Magic: AI newsletter
- Posts
- OpenAI going into BILLIONS đđ„
OpenAI going into BILLIONS đđ„
AI is here to stay!
AI NEWS
It feels Like Magic
Hi AI lovers!
OpenAI just pulled off a monster move, raising a jaw-dropping $6.6 billion and sending their valuation soaring to $157 billion. Thatâs double what they were worth less than a year ago. Think about itâthis isnât some pie-in-the-sky thing; theyâve got over 250 million people using ChatGPT every week. Microsoft, Nvidia, SoftBank, and a bunch of other heavy hitters are backing this, and theyâre not playing around.
Whatâs the plan with all this cash? OpenAIâs going to double down on building more powerful AI tools, cranking up their compute power, and basically continuing to dominate the AI game. Theyâre losing money (like, $5 billion in 2024 alone) but with revenue on track to hit $11.6 billion by 2025, they're playing the long game.
Bottom line: If you think this is the peak, think again. OpenAI isnât just trying to make some cool AI toysâtheyâre gunning for artificial general intelligence (AGI), and this round puts them in the driverâs seat to do exactly that. Letâs see who tries to keep up. đđđđ
The future of AI feels Like Magic, and itâs here!
Text generation | Image Generation | LMAI recommends |
---|---|---|
Quick jump through the newsletter:
AI at Work: The Future is Now â Or Should I Say, 'Already Here?'
Hey team, buckle up. Today, weâre diving into the questions that everyoneâs asking about AI at work, and weâre doing it DJ style: simple, real, and straight to the point. No fluff, just the facts on how AI is transforming the way we work, how you can leverage it, and what you should definitely not worry about (hint: itâs not coming for your job... yet).
How Does AI Boost Productivity? đ
Letâs cut to the chase. AI is like that overachieving intern who shows up early, never takes breaks, and works all weekend. By automating repetitive tasks (think data entry, scheduling, or sorting through endless emails), AI frees up your time to focus on the stuff that actually moves the needle. Instead of getting buried in spreadsheets, youâre making decisions based on insights that AI pulled together faster than your morning coffee kicked in. And itâs not just boring tasksâAI can streamline creative work too, like analyzing customer feedback to tell you what product features are hot (and whatâs not).
Is AI Going to Steal My Job? đ€
The million-dollar question, right? Hereâs the deal: AI is not here to replace you, itâs here to be your sidekick. Look, sure, itâs going to take over some jobs, but mostly the ones no one really wanted to do in the first place (sorry, data entry clerks). But the real play here is in augmenting jobs, not replacing them. With AI handling the mundane stuff, youâre free to level up your gameâwhether thatâs in strategy, creativity, or building relationships. AI is your superpower, not your competition.
How Can AI Help With Decision-Making? đ§
Imagine having a crystal ball that doesnât just tell you the future, but actually crunches the numbers behind it. AI is that crystal ball. Whether youâre trying to figure out which customers are most likely to churn, which products are going to blow up, or where to allocate budget, AI digs into the data faster than your entire analytics team combined. It doesnât replace human judgmentâit enhances it. Youâre still in the driverâs seat, AI is just there to make sure youâve got all the maps and GPS coordinates laid out.
Is AI Safe to Use at Work? đ
Short answer: Yes, but⊠like anything in tech, you gotta play it smart. AI tools need to comply with data privacy laws (youâve heard of GDPR, right?) and be secure AF. But the bigger concern is making sure your AI isnât biased. You donât want your AI accidentally giving your customers biased responses or making weirdly unfair decisions in hiring processes. Just make sure whatever AI youâre using has been vetted for fairness, transparency, and security. Bias audits and security checks are your friends here.
How Can AI Improve Customer Service? đïž
If you havenât already played with AI chatbots, youâre behind. AI can handle customer support 24/7, instantly answering FAQs, processing orders, and even troubleshooting. But hereâs the kicker: while your chatbot handles the easy stuff, your human team can focus on the big issues. This means faster response times and happier customers. Plus, AI can analyze customer interactions and tell you exactly where you need to improve. Data-driven tweaks lead to real-time improvements. đ„
Whatâs the ROI on AI? đ°
Everyone loves to talk about AI like itâs magic, but at the end of the day, you need to know if itâs worth the cash. The trick here is tracking how much time AI saves your team and how much better it makes your outcomes. Are your customer response times shorter? Is your marketing campaign more targeted? Are you making decisions faster and more accurately? Thatâs your ROI, and trust meâitâs huge if youâre using AI right. (Pro tip: keep an eye on metrics like reduced errors, better forecasting, and faster turnaround on big projects.)
Will AI Change Remote Work? đ
Yup, and in the best way possible. AI tools can help keep remote teams connected and productive by automating project management, analyzing team performance, and even helping to write meeting summaries (no more forgetting whoâs doing what after a Zoom call). AI tools can also predict bottlenecks in workflows, ensuring your team stays ahead of the curve. To learn more, follow LMAI for remote AI business ideas.
What Skills Do I Need to Work with AI? đ ïž
You donât need to be a coding wizard to work with AI, but you should get comfy with data. Knowing how to interpret AI insights and integrate them into your workflow is the key. Digital literacy is where itâs atâunderstand how AI tools work and learn to collaborate with them. And donât forget: creativity and critical thinking are still your best friends. AI is great at crunching numbers, but itâs not coming up with the next big idea. Thatâs still all you.
Is AI Customizable for My Industry? đ§Ź
Absolutely. From healthcare using AI to help with diagnostics, to marketing teams using AI to hyper-personalize ads, itâs all about finding the right AI tool for your field. AI in finance is predicting market trends, in logistics itâs optimizing supply chains. In biotech? Itâs all about accelerating research and improving precision. AI is like a Swiss Army knifeâfigure out which attachment is right for you, and get to work.
TL;DR
AI isnât some far-off sci-fi conceptâitâs already transforming the way we work. Whether it's boosting productivity, enhancing decision-making, or supporting customer service, AI is here to augment, not replace. The key to staying ahead? Embrace it, understand how it fits into your workflow, and donât sleep on the skills thatâll make you indispensable in the AI-powered future.
Stay sharp, DJ đ
Compare up to 5 business loans without a hard credit pull!
Compare 2024's top online business lenders. Secure and fast with no impact to your credit score. With over 12,000 small businesses funded, we know how to make lenders compete to give you the best offer. See your loan options in minutes, and get funding as fast as 24 hours. Strongest network coverage for those who have been in business for over 2 years with over $200K in annual revenue. Fuel your business today!
Turn AI Into Cash: Your 3-Tool Side Hustle Plan
Alright, hustlers, letâs talk about a simple side hustle that can bring in some serious dough with almost zero overhead. This isnât one of those âwork 24/7â grind suggestions, either. Nope, this is a work smarter, not harder strategy, using three powerful tools: Outranking for generating killer content, Slides.ai for creating easy visual presentations and WISE to keep the payments rolling.
Ready? Hereâs how you can build a side hustle from scratch with just a laptop, some wifi, and a few AI tools.
Step 1: Find Your Niche (This is Key)
First, you need to find a niche thatâs always in demand. The easiest way to do this? Look around for small business owners and blue-collar bosses. Iâm talking about no-frills businessesâthe kind where the owner is out in the trenches with the crew, putting up PVC windows, fixing plumbing issues, or installing HVAC systems. What do they need? Youâll find one recurring theme: presentations and contentâwhether itâs for marketing campaigns, partner presentations, or social media posts. Every business is trying to look professional and communicate effectively, but not everyone has the time (or skills) to make these things look sharp.
Thatâs where you step in, becoming the presentation/content powerhouse these businesses didnât know they needed. But you will call them and explain why they do need it in the Internet-only era.
If you are not online, you do not exist!
Step 2: Automate with Slides
Hereâs the magic sauce: Slides. This tool allows you to create beautiful presentations in minutes. In any language you can think of. đ€đ€ And it has a great free version. Youâre not stuck playing around with PowerPoint slides for hoursâjust type in the content, and Slides does all the heavy lifting, turning your text into clean, engaging visuals.
Use this to create custom sales presentations for small businesses, with really nice marketing visualizations to drive the sales up. But hereâs where it gets interesting. You can break those presentations down into smaller piecesâlike snippets of your key services, customer reviews, or before-and-after photos of your workâand turn them into visuals for social media. Post those on your Facebook page, Instagram, or even LinkedIn, and suddenly youâve got free advertising.
Charge a flat rate or hourly fee for each presentationâyouâll crank these out fast, so the more clients you handle, the better.
Step 3: Crush Content with Outranking
Next up: Outranking. This AI tool makes writing optimized content a breeze. When you land a client, create a deep dive into their line of work with AI. And use it to create blogs, website copy, social media content, etc. Outranking has you covered here and you can use it as a basic AI compilation tool and later for SEO and content. Businesses always need SEO-optimized content, but they either donât know how to write it or donât have the time. So guess who becomes their go-to for this?
All you have to do is input the main idea or topic, and Outranking handles the research, drafting, and optimization. You can even suggest it to clients who need new blog posts, product descriptions, or landing pages. With the power of AI, you can generate high-quality content faster than traditional copywriters, allowing you to serve more clients without burning out.
Step 4: Get Paid with WISE
Now, youâre probably wondering, âHow do I handle payments?â Easy. Thatâs where WISE comes in. Whether youâre working with local clients or customers overseas, WISE lets you accept payments globally with super low fees. Set up your account, send clients a one-click payment link, and boomâpayments land straight into your bank account. No hassle, no crazy exchange rates, just straight-up efficient cash flow.
Step 5: Put It All Together
Hereâs the formula:
Find small local businesses that need presentations or content (hint: every small business).
Use Slides.ai to create pro-level visual presentations quickly.
Use Outranking to churn out SEO-optimized content for their blogs and websites and create value for the buisness.
Get paid like a boss with WISE without all the legal hassle with a bank.
With this setup, youâve got no inventory, no shipping, and basically no costs other than your time and a little monthly subscription to your AI tools. The best part? You can do this on the side of your main gig, from anywhere in the world.
You have just become a digital nomad.
Catch you on the flip side!
You need a quick illustration or image for your content; there is cool solution to your problem
We all know that appealing image is important no matter what job you are doing. Are you stuck with free photography services and need more but do not have a budget? Well, we talked about quite a few alternatives in our previous newsletters. This time, we went with Leonardo. It is one of the strong contenders in the AI image generation space. Leonardo offers quite different features for artists and creative minds, and they announced that it got even better less than two weeks ago. Not only can you create images from prompts, but now they offer features like "Ultra" mode for the generation of images and upscale as well.
Pros:
First and foremost, Leonardo produces stunning and photorealistic images when you hit the right prompt that are produced really quickly. Few seconds and you have your image ready. Later you can refine the image as you type with various sliders and editing tools. Also a really cool feature is that you can choose from a vast collection of pre-made models or train your own for a personalized touch. You can choose from anime to lifelike vision; everything is up to you. Also you can transform existing pictures with new styles and details.
Also, a really cool feature that Leonardo has to offer is the enchantment of image resolution so you can create larger compositions within the program. And also, when you sign up, you will get 150 credits that you can use in order to try out what it has to offer. Really great plus.
Leonardo has quite a big price range that you can choose from
Weaknesses:
The image-to-image feature may not always interpret your intent perfectly, requiring more experimentation, and that often means more credits.
Case scenario:
We signed up for a free version and tried out what it has to offer. First, we headed to the generation of images. We decided to go with illustration. I gave it a really simple prompt: âBlond woman holding basil and cherry tomatoes,â and within seconds, it was there. It offers you four alternatives, and they are all quite good. We liked the fact that it even got little cherry tomatoes on the shirt. Sure, you can spot the right one that this is an AI-generated image, but hey, we wanted illustration. Then we gave the same prompt but decided to go with a different preset- their new feature, Phoenix. Three out of 4 images came out great. The fourth one had a fault in the woman's hands. Sure, maybe u will not notice it, but it looked like she had three hands and a lot more fingers than 10.
This is the image we liked the most in Illustration mode
The whole setting is great, but pay attention to her hands
Overall:
We really like Leonardo. It is quite a powerful tool for generating high-quality AI art. We loved the fact that you get free credits that you can actually spend to create quite fun and creative images. It's real-time editing, and a vast model library makes it really cool to have. However, there is still room for improvement. Overall, it is 4.5 out of 5 on our LMAI scale. Canât wait to see what other improvements the team will offer.
Like Magic AI NFT đïž
Our master plan is to publish an NFT image in each newsletter and hand it out to our subscribers. The earlier you subscribe, the smaller the series are. It's a future collectible, a piece of digital art that captures the essence of this moment in time.
Thank you for being a valued subscriber. Together, let's embrace the magic of AI and creativity!
LMAI62-03102024
Was this email forwarded to you? Sign up here đ
Reply