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AI Business Use Cases And The Future
Manage episode 438673511 series 3558957
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In this episode of The Lazy CEO Podcast, host Jim Schleckser talks with Ronak Patel, CEO of Sunflower Labs, about integrating AI and machine learning (ML) into business processes to augment human efforts. Patel explains AI's potential, common use cases, and ethical considerations, especially around AI as an assistant rather than a full replacement for human roles. They discuss AI's current applications, such as automating customer service, HR functions, and financial processes, emphasizing that AI is most effective when used to enhance human productivity rather than replace it.
Patel highlights the growing trend of smaller, purpose-built AI models that are more cost-effective and targeted compared to massive, general-purpose models like ChatGPT. These models can be deployed even by smaller companies, democratizing access to advanced technology that was previously available only to large corporations with substantial budgets.
They also touch on the challenges, such as data requirements for training AI, the high costs of large language models, and the risk of AI hallucinations—where AI generates incorrect or fabricated information. Patel suggests solutions, including adjusting the "temperature" setting in AI models to reduce creativity and ensure more reliable outputs, showing that the future of AI lies in controlled, specific applications rather than generalized, all-encompassing solutions.
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