When to use AI – and when not to!

Be careful!

Author

Maziar Foroudian
July 09, 2024

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Latest Stories

Is AI the key to revolutionizing your business or a potential replacement for human roles? Dive into the world of AI and discover when to leverage its capabilities, and when to rely on the unique skills of human professionals.

Aussie shoppers are looking for value and a great experience. Find out how SMEs can thrive in this market with the latest Shopify Australian Retail Report. Packed with data, insights, and strategies, this is a must-read for any retailer.

Attention all small business owners and consumers! The recent Federal Court decision on PayPal Australia's unfair contract term could impact you. Learn about the implications, reactions, and what this means for the protection of your rights.

Australian SMEs can access discounted financing and support the shift to green technologies through MetroEco – a new program by Metro and the CEFC. Learn more about the program and its impact on Australia's net-zero economy.

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Top stories

Beanstalk Agtech launches the Drought Venture Studio with a $10 million investment from the Australian Government’s Future Drought Fund. The initiative aims to support drought resilience for Australian farmers through hands-on commercialization support and no equity taking.

Attorney-General Mark Dreyfus announces a rise in the involuntary bankruptcy threshold from $10,000 to $20,000, alongside reforms to modernize the bankruptcy system. Small business directors may be affected by the changes. The proposed Minimal Asset Procedure could offer relief for debtors with minimal assets and debts.

Australia

Consolidated Linen Services, a regional Queensland industrial laundry, secured $6 million in growth capital from the Australian Business Growth Fund. CLS, founded in 1990, plans to expand operations and incorporate new technical solutions.

Arab Gulf states lure global talent with up to 70% pay raises, fueled by growing sovereign wealth funds topping $US3 trillion. Australian companies attract Middle Eastern investment interest, seen in takeover speculation and potential airline stakes.

Australian Economy

Income tax cuts and bracket creep are intertwined, with tax reforms spurring heated debates. Increases are necessary to cover government expenses but can create political chaos. Proposed reforms vary in nature, emphasizing the complex nature of tax restructuring.

Young Australian women are struggling with rent and mortgage payments, leading to a surge in calls to the National Debt Helpline. Financial counselors attribute the distress to 13 Reserve Bank interest rate hikes, with more potential increases ahead.

World

Top Women Leaders for 2024 have been announced by Women We Admire. These women are making significant contributions in various industries, inspiring future generations of women leaders. Learn about Monica Simmonds, Sheba Roy, and Tina Chakrabarty among others.

Skyrocketing rent prices are impacting small businesses across the U.S., with 43% unable to pay rent in full. This is prompting some businesses to consider relocating to more affordable cities, such as Denver. If cities address this issue, it could create more affordable options for small businesses.

Americans are feeling the squeeze of rising grocery prices, impacting voters like Stacey Ellis and Dylan Garcia. Despite challenges, economic trends are improving, with analysts predicting relief through wage increases and price cuts.

The French right's surprise defeat in the latest election highlights the paradox of expressive voting. When too many people send protest votes, desired outcomes may not materialize. Expectations about others' voting behavior can greatly influence election results.

Tech

A hacker breached OpenAI's discussion forum, snagging details about AI technologies last year. Fortunately, sensitive customer data remained secure. The incident sparked concerns about national security, leading to debates on AI company security measures and regulations.

Tesla is upgrading early Cybertruck models with new motors, raising questions about a potential recall. While specific details are lacking, some owners are receiving the upgrades during service visits. The changes could be optimization or a start to a retrofitting program.

Morehouse College plans to use AI teaching assistants to address national teacher shortages and burnout. Professors will collaborate with VictoryXR to create virtual avatars for interactive lessons, revolutionizing education.

Curated for you

US job growth slowed in June, with 206,000 jobs added. The unemployment rate edged up to 4.1%, while wage growth was at its slowest in three years. Analysts suggest the data could lead to a rate cut by the Federal Reserve later this year.

Chad's Landscaping in San Antonio, Texas found success by hiring an unhoused man, Walter Madden, who became a dedicated and reliable team member for over 20 years. This decision highlights the value of open-minded hiring practices.

The recent employment report shows a slight increase in unemployment and cooling wage growth, indicating a moderate labor market. This shift may prompt the Federal Reserve to reassess interest rates and potentially consider a rate cut in September.

Copy successful companies like Salesforce and Slack for pricing inspiration, but keep it simple for less well-known vendors to avoid losing prospects. Prioritize transparent pricing and focus on long-term customer value.

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