Business Tech News: The Most Popular AI Tools Of 2024

This week, there have been several notable events in business tech news that could impact your organization. Have you caught up on them yet?

Business Tech News #1 – The Most Popular AI Tools of 2024 (And Their Significance).

According to David Gewirtz of ZDNet, insights gathered in August show that the most widely used AI tools by market share in 2024 include ChatGPT at 54.96 percent, Canva at 14.92 percent, DeepL for translation at 5.38 percent, followed by Google Gemini at 4.75 percent and Character.AI at 3.90 percent. Gewirtz also emphasized the complexities in measuring popularity, noting that some tools are standalone while others are embedded in broader products. Traffic metrics were compiled from platforms such as Semrush and SimilarWeb to estimate their usage levels. Various other tools, including Claude, Perplexity AI, and Microsoft Copilot, also made the list. (Source: ZDNet)

Why This Is Essential For Your Business:

All these advancements are fascinating and somewhat entertaining to observe. It’s reminiscent of the initial iPhone launch followed by the introduction of the App Store, which paved the way for a cascade of new applications. In a few short years, the dynamics of the tools listed above will likely shift dramatically. The AI applications emerging in 2024, while intriguing, are often hyped and can be unreliable—definitely not ready for widespread use in business settings just yet. However, future iterations of these tools will certainly improve, evolve, and be supplanted by even more sophisticated offerings.

Business Tech News #2 – Major AI Transformations Expected in 2025 from Microsoft.

Microsoft executives forecast transformative changes in AI technologies by 2025. Insights from Ashley Llorens, Microsoft’s corporate vice president and managing director, indicate that we can anticipate AI handling significantly more intricate tasks. More efficient and advanced AI models will come to market, with AI agents taking center stage, capable of performing tasks autonomously or semi-autonomously, such as extracting specific data from expense reports or engaging in dialogues to assess operational efficiency. The initiative to make AI features more accessible to consumers will also see a significant ramp-up. Microsoft is currently developing AI agents to simplify tasks like arranging informal meetings such as “coffee chats” among colleagues. (Source: Yahoo Finance)

Why This Is Essential For Your Business:

Discussions about AI agents have been prevalent in my previous writings. Particularly in sectors such as financial services, we see a trend of AI beginning to replace human employees. These developments are set to unfold in 2025, and while the excitement is palpable, we must remember the golden rule of technology: NEVER adopt the first version of any new software—especially those from Microsoft. Expect these AI agents to encounter teething problems over the next year or two before they can be reliably integrated into business operations. We will also require time to fully grasp their functional capabilities and identify how best to leverage them in our organizations.

Business Tech News #3 – LegalZoom Teams Up With 1-800Accountant to Provide Comprehensive Tax and Bookkeeping Services for Small Businesses.

In an exciting development, LegalZoom and 1-800Accountant have formed a long-term strategic partnership aimed at delivering complete tax and bookkeeping services tailored to small business owners. Their joint announcement indicates that customers of LegalZoom will soon enjoy year-round, expert-led bookkeeping and tax services courtesy of 1-800Accountant. Recent surveys have highlighted tax management, liability reduction, and lawful compliance as primary motivations for small business owners, accentuating the critical need for advisory services. This partnership seeks to bolster LegalZoom’s array of products, partnerships, and services that cater to the legal, compliance, and operational management needs of small business owners. They anticipate a launch of this new offering in January 2025. (Source: GlobeNewswire)

Why This Is Important For Your Business:

This collaboration might prove advantageous for companies using either of the involved services to utilize the complementary offerings more effectively. It’s hoped that this partnership can yield a cost-efficient solution for very small businesses—those with fewer than ten employees. However, as a company expands in size and complexity, conventional accounting approaches replete with dedicated CPAs and professionals who are intimately familiar with their clients’ operations become critical. Relying solely on an “800” service model staffed by a rotating set of employees can lead to insufficient attention to individual business needs.

Business Tech News #4 – Transformative Changes in Human Resources By 2025.

HR specialist Cheryl Swirnow has shared her incisive predictions on how the human resources landscape is expected to evolve by 2025. She posits that HR will gradually transition from a supportive role to a pivotal player in corporate leadership; over 55 percent of CEOs are expected to incorporate HR leaders into strategic discussions. HR will no longer be solely tasked with addressing retention and cultural hurdles—instead, businesses will be more collaborative and adopt a cross-functional approach. Additionally, significant investments in HR technology will become commonplace as those organizations that fail to embrace advanced HR systems struggle to stay competitive. In particular, employee wellbeing—a focus heightened during the pandemic—will evolve into a primary business priority. “HR isn’t just a side player; it’s a game-changer for business success,” Swirnow articulated. (Source: Fast Company)

Why This Is Critical For Your Business:

The involvement of CEOs in strategic decisions alongside HR executives is more than just a technological trend; it’s a pivotal management evolution that every organization should embrace. Strategic HR tech decisions require collaborative efforts among HR leaders, IT departments, and other organizational stakeholders to maximize efficacy and results.

Business Tech News #5 – Wix Introduces AI Site-Chat Feature for Enhanced Online Customer Engagement.

Wix has unveiled its latest AI feature—AI Site-Chat—which is designed to support businesses in improving customer interactions online. This innovative tool functions as a virtual agent, capable of addressing customer inquiries and offering relevant information around the clock, even when business owners are not available. By integrating with internal systems, it can provide real-time data on user requests, ensuring accurate responses—a vital function for lead generation. The chat feature is fully customizable to align with the brand’s tone and can be tailored to specific operational parameters. “Businesses can utilize this feature to provide real-time, conversational support, sales interactions, and customer service—all in one location,” stated Yaniv Ben Simon, Head of Product for AI Site-Chat at Wix. (Source: MarTech Cube)

Why This Matters For Your Business:

While Wix’s offering is commendable, businesses should also consider similar AI functionalities provided by their CRM (customer relationship management) platforms. Most credible, well-established CRM solutions come pre-equipped with comparable capabilities that can be seamlessly integrated into a website, paving the way for enhanced service and marketing initiatives.

Every Sunday, I compile and summarize five significant business tech news stories, along with insights on why they hold importance for your organization.

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