(This column originally appeared in Forbes)
Here are five things in business tech news that happened this week and how they affect your business. Did you miss them
1 — Business Tech News: Don’t trust ChatGPT Search and definitely verify anything it tells you.
Sabrina Ortiz of ZDNet reported on concerns about the accuracy of ChatGPT Search. Citing a report by Columbia’s Tow Center for Digital Journalism, their results found that ChatGPT Search did not provide accurate data with some results being described as “partially or entirely incorrect.” A random selection of articles and publishers were selected to test the search tool. The results showed the AI at times misattributed quotes and cited incorrect sources. The report also highlighted a “false confidence” — instances where ChatGPT did not indicate it was unsuccessful in retrieving accurate information. The article advises users to verify information from ChatGPT Search by checking the sources themselves. (Source: ZDNet)
Why this is important for your business:
I couldn’t agree more with Ortiz, but let’s not stop at ChatGPT. I’ve used Gemini, Copilot, Claude and Perplexity and have been similarly underwhelmed with their searching capability and the results they’ve produced. I’ve worked on articles where I’ve asked these chatbots to provide me with information and then cite their references and on further questioning they’ve all admitted to making mistakes or including the wrong information. Of course, these generative AI tools are powerful and can help productivity and we all know they’re going to get better over time. But proceed with caution for now.
2 — Business Tech News: TikTok says ban would cost U.S. small businesses, creators $1.3 billion in first month.
The potential TikTok ban in the United States could cost U.S. small businesses and creators $1.3 billion in revenue and earnings in just the first month. TikTok argues that this ban — set to take effect on January 19, 2025 — would significantly impact businesses that rely on the platform for marketing and sales. “Those numbers would only increase if the shutdown extends for more than a month,” said Blake Chandlee, head of global solutions for TikTok. The company is seeking a temporary injunction to delay the ban while it appeals to the Supreme Court. (Source: CNBC)
Why this is important for your business:
Mixed feelings about the looming TikTok ban. Are the Chinese really influencing users? And do we need the government to be the arbitrator of this? Can’t people be trusted to use technology as they see fit, for better or worse? Regardless of these opinions, the bottom line is that TikTok is one step closer to going away and if your business relies on this social platform to sell products or create an audience you need to making alternative plans.
3 — Business Tech News: Small businesses using generative AI report hiring success and more satisfaction with their employees.
In its 2024 State of Small Business survey, management platform Gusto revealed how small businesses are adopting generative AI. Some of their findings include 57 percent of small business owners are experimenting with AI. One in four have incorporated GenAI into their operations. Of those using the technology, 45 percent reported having an easier time hiring. The most common AI-supported tasks are marketing and customer service through tools like chatbots. Despite the benefits, 43 percent of small businesses have not considered using GenAI due to lack of awareness or resources. (Source: gusto)
Why this is important for your business:
Just breaking down the numbers here…Gusto surveyed 1,300 people and let’s bear in mind there are 33 million small business owners in this country, so I’m not quite sure that this is truly a representative sample. Of the 1,300 surveyed, one in four (325 people) say they’ve incorporated GenAI into their operations. And 45 percent of those (146 people) say that it’s helped them with hiring. So out of their entire sample, about 11 percent said GenAI has helped with their hiring. I’d like to hear more from the other 89 percent.
4 — Business Tech News: Amazon is bringing Intuit QuickBooks software to its millions of third-party sellers.
Amazon and Intuit have announced a multi-year strategic partnership to integrate QuickBooks into Amazon Seller Central. Set to go live in mid-2025, this integration aims to provide third-party sellers with comprehensive financial management tools, including real-time insights into profitability, cash flow, inventory, and tax estimates. Sellers will also have access to personalized loans through QuickBooks Capital directly from Amazon Seller Central. The partnership is designed to help sellers better manage their finances, streamline operations, and ultimately grow their businesses more efficiently. (Source: CNBC)
Why this is important for your business:
For starters, there exists third party software that already does this. Also, many e-commerce platforms like Shopify and Magento have deep integration with QuickBooks and other tools. So this isn’t ground-breaking. But Amazon entering into a formal partnership with Intuit, the maker of QuickBooks, could be a better option for many small merchants.
5 — Business Tech News: OpenAI launches Sora video generator for all users.
OpenAI has announced its launch of ‘Sora’ — a new AI-powered video generator. Users can generate videos up to 20 seconds long in resolutions up to 1080p. The tool supports various aspect ratios and allows users to incorporate their own photos and videos. A new interface has been introduced, making it easier to create prompts and manage video projects. Early reviews suggest that while Sora produces impressive results, it still has some limitations — such as unnatural physics and occasional inaccuracies. Sora is now available to ChatGPT Plus and ChatGPT Pro subscribers. (Source: Gizmodo)
Why this is important for your business:
This is significant. There are other, smaller, less reliable and more dubious AI apps that claim to generate videos from text, but Sora is more powerful and flexible. OpenAI took a while to release this so that they could be sure that it met some level of acceptability and they’ve achieved that. For creators, this is a game changer. For businesses this an excellent platform to create marketing, training and technical content.
