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Small Business Tech Roundup: ChatGPT Gets Its Biggest Update So Far

By November 12, 2023No Comments

(This column originally appeared in Forbes)

Here are five things in tech that happened this week and how they affect your business. Did you miss them?

1 – ChatGPT gets its biggest update so far – here are 4 upgrades that are coming soon.

This week OpenAI held its first developer conference where several updates to ChatGPT were announced. Among them were “Create a GPT” that allows plus-subscribers to create their personal AI assistant – “Create a GPT” – that will let users “customize ChatGPT for a specific purpose.” The OpenAI blog provides examples and instructions. The other announcement is the launch of an app store which will house the GPT creations and builders will be able to monetize their product based on usage. ChatGPT has also received a “turbo boost” with a capacity to incorporate and process current data – up to April 2023 – a notable development from the previous version. (Source: TechRadar)

Why this is important for your business:

ChatGPT passed 100 million active users recently and continues to be popular with many of my clients. As it matures it’s becoming a reliable productivity tool. What excites me the most of these announcements is the app store – truly a place that will create future tech millionaires, just like what happened when the iPhone was released. If you haven’t started using ChatGPT in your business you should seriously invest some time.

2 – Google is rolling out tools that let advertisers create AI-generated content.

Advertisers can now create AI-generated content through Google’s Performance Max system. Currently in beta, the system is activated across channels (YouTube, search function) and only available in the U.S. with plans to expand to other regions by the end of this year. (Source: Engadget)

Why this is important for your business:

Not only will companies be able to use imagery and text that will enhance their ad’s assets – the system will also analyze “performance data” and measure the ad’s effectiveness – and build future ads based on that data. Creators can review and edit text/images prior to the content going live. They can also create various versions from the same ad. Pallavi Naresh, Group Product Manager at Google, emphasized, “Asset variety is a key ingredient for a successful Performance Max campaign.”

3 – Amazon is offering buy now, pay later options to help small business owners.

Amazon has partnered with financial company Affirm forming a BNPL (buy now, pay later) system for small business owners. Announced last week the deal is very timely with Black Friday weeks away. The Affirm payment option will be available to all Amazon business accounts by that time. Business owners select the option at the time of transaction by entering their registered information – then complete the purchase upon approval. (Source: Cord Cutter News)

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