Trends in AI & Generative AI: Insights from The 2023 AI Summit New York 

Last week, I covered the AI Summit in New York. I was excited to learn about the trends in AI and generative AI and to see some commercial applications of these new technological advancements. 

Patrick Murphy of UAB led the AI Exhibitor hub. Patrick shared insights from his research on Entrepreneurship. He shared how start-ups use AI, and Generative AI to scale up and bring products to market. 

Generative AI is being used in the following eight ways:

1. Content and Asset Generative
2. Automated Processes
3. Ideation
4. Financial Management
5. Project Design
6. Optimized Structures
7. Acceleration and incubation
8. Ethics and Risk Management. 

There was a pitching completion where start-ups did pitches in multiple rounds. At the beginning of the competition, they received advice from judges on best practices. 

One of the start-ups that was of interest was Botwise. Jan Nowak shared how his team shared a use case on how they leveraged Language Learning models (LLM)using statistics and GPT solutions for rapid automation in customer service for Mylead.global is a platform that allows influencers to earn money. As a result, MyLead.global was able to screen influencers faster and better for their big brand clients.

AI-Powered Use Cases from across the board panel discussion

Leaders Saira Kazmi Ph. D. (CVS Health), Matthew Blakemore (Creative Industries Council) Taha Mokfi (HelloFresh), Kriti Kohli (Shopify), and Kris Perez (Data Force) share how they use chatbots, improving both the buyer and seller experience using AI. How AI can be used in video games to identify levels of violence and how AI can improve in healthcare and Radiology reducing the amount of time images are read while improving accuracy and detail. 

Another interesting Panel was by Tim Delesio CTO of techolution

Tim asked What’s driving the explosive rise of AI all of a Sudden?

The answer is the economics of the labor market.

On the demand side, he cited labor shortages and persistent high inflation. 

On the supply side, he cites the rise of ChatGPT and, major scientific and Technological breakthroughs in the past five to seven years. 

He shared trends in AI for 2024 that include:

1. Physical Labor with AI to help deliver small batch sizes with high-precision quality control
2. Improved customer engagement by providing a new generation of customer service agents using Generative AI 

Tim demonstrated some of these trends when he ordered a soda using an AI-powered robotic arm. 

The booth had another machine showing how AI can enhance inventory management when items are ordered. 

I was amazed to see some AI Tech that techolution brought to the marketplace.

On that note, I saw an AI-powered Kiosk by Graphen where a man ordered his food and paid. This company is using AI to revolutionize all industries.

Man orders food AI Kiosk

Man pays for food at AI Kiosk

There were so many great talks and exhibits. 

Additional pictures can be found on Instagram. 

I want to thank the AI Summit for having me as their guest. If you want to use AI and Generative to improve business outcomes, sign up for the AI summit in your city.

What do you think is next for AI and Generative AI?

Comment and share below.

Additional pictures can be found on Instagram. 

I surveyed my audience on LinkedIn about their holiday spending intent, method of purchase, types of purchase, and sentiment in the U.S. Consumer spending is always top of mind for marketers, sellers, and retailers. With inflation on the rise, consumers spend differently than when inflation is low.

I asked my audience four questions.

1. How has inflation impacted your holiday spending?
2. Which types of holiday gifts are you buying?
3. How did you buy your holiday gifts this season?
4. Did you use shoppable ads to make a purchase?

Below you can find the results of each survey question.

1.How has inflation impacted your holiday spending?

As you can see, 60% percent said they spent less during this holiday season. Consumers must see value in what they are buying. Brands need to create memorable experiences for consumers with their offerings.

2. Which types of holiday gifts are you buying?

This survey was split across different categories. Gift cards were top at 33 % percent of those surveyed saying they were buying gift cards and giving cash as a gift. Experiences and electronics were tied at 25 %. Media was in the lowest category at 17%. Across all of these categories, there are opportunities for brands to sell to consumers.

3. How did you buy your holiday gifts this season?

Based on the survey, 56% percent of consumers said they started their customer journey online; including purchases on a mobile device. Brands need to make an e-commerce experience seamless for customers. Most big box stores are creating an omnichannel buying experience; 31% percent of those surveyed stated that they made purchases online and in-store. Small businesses only received 11 %, followed by only in-store buying at 2%.

These findings suggest that small businesses need to create an e-commerce store to create an omnichannel experience for consumers, catering not just to what they want to buy but how they purchase. Small businesses need to show up where consumers make purchases.

4. Did you use shoppable ads to make a purchase?

75% of those surveyed said that they did not use a shoppable ad to make a purchase. Since late 2019, shoppable increased. Consumers can buy products directly from ads on search engines and many social media sites. This will shorten the customer journey.

Based on my research, my finding suggests:

1. Inflation has dampened consumer spending during the holiday season.

2. Brands need to provide value to consumers creating memorable experiences.

3. Businesses should serve consumers on the channels where they make purchases.

4. How consumers buy will continue to evolve.

5. With Shoppable Ads on the rise, the customer journey will be shorter. More purchases will occur during the time consumers search for products.

It will be interesting to see the consumer sentiment and the price of goods with the release of the CPI and the University of Michigan Consumer Sentiment survey due to be released this week.

How did inflation impact your spending during the holiday season? Share your thoughts.

If you want to share your opinion but didn’t get the chance to vote, answer these questions in the comments.

1. How has inflation impacted your holiday spending?
2. Which types of holiday gifts are you buying?
3. How did you buy your holiday gifts this season?
4. Did you use shoppable ads to make a purchase?

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About Me

I’m a Strategic Marketer with Field Sales, Sales Enablement, Content Creation, and, Classroom Teacher/Trainer skill sets using Marketing to drive Sales/Growth.

As a Marketer, I’ve worked with Start-Ups, a Political Campaign, and a Digital Marketing Conference.

I’m certified in Inbound Marketing with classes in Marketing, Product Management, Product Marketing, SEO, and SEM.

Before teaching, I was an Outside Sales and Marketing Rep. selling and marketing dental products to Dentists using consultative selling, trade show marketing, field marketing, and market research.

I publish Sales, Marketing & Social Media Today a blog covering industry events and trends.

I’m seeking a full-time role in

Inbound Marketing, Digital Marketing, Content Marketing, Product Marketing, CI, Demand Generation, Social Media Marketing,

Sales Enablement, Enablement, Sales Strategy, Marketing Strategy, Employer Branding, and Recruitment Marketing.

Open on title, industry, company, location, and level. Reach out on LinkedIn or at dan@dangalante.com to start a conversation.

The 2023 New York Auto Show is happening at New York’s Jacob Javits Center.

I had the privilege of covering the New York Auto Show on press and industry days. The show opened with the World Car Awards Breakfast.

I want to congratulate Hyundai for winning multiple awards with its all-new Ioniq 6 EV including the World Best EV Award, World’s Best Design, and 2023 World Car of the Year!

Congratulations to all of the other finalists as well.

I rode along in the Hyundai Ioniq 6 EV on one of the multiple test tracks at the show. It was an exhilarating experience!

The show consists mainly of EVs and hybrid vehicles. There are two levels including using EV test tracks where you can a do ride-along. There are fun exhibits that I recommend that you experience. I rode along on all of the test tracks experiencing various EVs. 

The Jeep track simulates a mountain and off-road driving experience.

If you are interested in learning about EVs, Charging Stations, and electric power there are displays and resources to explore at the show.

You can find additional pictures posted on Instagram.

There were also some new vehicle roll-outs and major press announcements from Kia, Hyundai, Chrysler, Ram, VW, and many others. You can see some of them below. Kia Press Conference The all new EV9.

Hyundai Press Conference and Reveal Kona N Line, The All New 2024 KONA Electric

https://www.youtube.com/live/oMuxsvlzfW8?feature=share

The Ram 1500 REV all Electric Reveal!

https://fb.watch/jNiJGD2R2b/

VW ID. Buzz Atlas Peak Edition Press Conference 

Chrysler and Autism Partnership

I enjoyed the Subaru Loves Pets campaign at the show. Subaru is partnering with animal nonprofits to get pets adopted, especially pets that are disabled and traumatized.

The show is open to the public as of yesterday at the Jacob Javits Center located at 429 11th Avenue New York, New York 10001. How to get to the Auto Show. The Auto Show runs from Friday, April 7th, through Sunday, April 16th, 2022. The hours are as follows Monday — Saturday from 10 am to 7 pm and Sundays from 10 am to 7 pm. General admission tickets are $21 for adults and $ 7 for children. If you want early access for this Friday or Saturday tickets are $45 for adults and $7 for children. Tickets can be purchased here.

What are you hoping to see at the auto show?

If you have attended the auto show, what was the most exciting thing you experienced?

Share your thoughts.