OpenAI CEO Sam Altman believes artificial intelligence (AI) evolves with new ideas, not larger models.
The reason is that the era of giant AI training models like Large Language Models (LLMs), which probably have over trillions of parameters underpinning GPT-4, is coming to an end, Altman said at a recent MIT event. Stated.
This is because while industrial economies are already being transformed by current generative natural language processing (NLP) and machine learning (ML) tools, many of them, such as shipping, were previously fragmented and labor-intensive. Driving future-proof efficiencies in operations. , logistics and transportation.
Former U.S. Treasury Secretary Lawrence Summers said AI tools such as ChatGPT could be as influential as “the printing press, electricity, or wheels and fire.” This relies, perhaps excessively, or overtly on manual, relationship-driven processes.
As these organizations learn to adopt and use AI tools to enhance their operations, technology can provide a disproportionate benefit.
In testifying before Congress earlier this week (May 16), Altman said he developed an AI tool to automate the creation of professional emails, resulting in hundreds of thousands of dollars worth of new business. of small business owners. .
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Remove administrative tasks from the logistics process
Leveraging NLP to eliminate the manual lift and sunk time costs associated with replying to vendor emails and reconciling price adjustments over the phone or text, modern solutions across industrial economies large and small Bring transformational potential to your business.
It may seem that the questions such as the price of things, when you will receive the goods, when they will arrive at your doorstep or the factory, etc., may seem simple, but in reality they are very complex and piecemeal, resulting in , because a core of uncertainty and inefficiency arises. Logistics and transportation center.
Business customers don’t want to wait three days for a quote, agree to a quote, only to find that the price is invalid and start the process all over again.
Modern AI-powered tools smooth out these historic and deep-rooted frictions by leveraging language models to read emails, understand price ranges and customer preferences, and generate quotes based on them. help solve it. All of this while replying in seconds instead of days.
Fernando Correa, co-founder and CEO of international digital trading firm Cargobot, told PYMNTS late last month, “The speed of technology adoption in just the last seven years has been unbelievable and frankly… “It’s amazing in this industry.”
Correa explained that the shipping and logistics industry is particularly poised to achieve future-proof efficiencies through next-generation technology solutions such as generative AI and NLP.
“A phone call is not a structured relationship and an email is not a structured relationship,” Correa said. “These new innovations [being brought to market within the industry] It is meant to organize whole relationships that were previously unorganized and where efficiency slipped through the cracks. “
As PYMNTS has tracked for years, the paradox of old, new and necessary is driving next-generation digital marketplaces and B2B platforms to take advantage of compelling white space opportunities to modernize traditional operations. That’s why we have more and more opportunities.
Institutional inertia is losing out to intelligent automation
Still, change is hard and happens slowly. This is especially true for long-standing players operating in industries driven by decades-long and, in some cases, generational business relationships.
“In the last two years, there are traditional businesses, family businesses, old traditional businesses that have reached a stage where they realize that if they don’t take the next step, they may run into problems and even go out of business. It’s a technology that allows us to provide the right level of service that our customers are looking for,” Raz Ronen, CEO of FreightTech startup Wisor.AI, told PYMNTS earlier this year.
However, the continued consumerization of business-to-business (B2B) relationships and gradual shifts in behavioral expectations are driving steady digitalization.
Eager to deliver innovative new solutions, companies should be confident that these latest tools will enhance, not replace, the essential trust factor for many B2Bs. You need to educate your target industry and market about what you are doing. Relationships within the shipping and logistics sector.
AI is a tool, not a living thing. “It’s not a job, it’s a mission,” Altman told US lawmakers.
