📊 PwC's AI Survey

Enterprises prioritize tech spending over cost-cutting.

Hello, AI Enthusiasts!

Drawing on data from the recent PwC Pulse Survey, we uncover the immense pressure on U.S. companies to adapt their business models amidst an increasingly volatile market environment.

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TODAY’S AI SECRET:

  • Enterprises prioritize tech spending over cost-cutting, says PwC.

  • Apple's 'Sherlocking' strategy might harm third-party developers.

  • Daily trending & featured AIs boost your career and business.

  • AI is coming for your online freelance jobs.

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TODAY’S AI WORLD

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  • Pope to Address G7 on AI Concerns - Pope Francis will be the first pontiff to address a G7 venue, focusing on the urgent issues surrounding artificial intelligence.

  • McDonald's Ends Drive-Thru AI Test - After going viral for mishaps, McDonald's is removing its AI order-taking technology from over 100 restaurants.

  • Meta AI's Pretend Solution to Its Own Mortality - Meta AI has sparked mixed reactions on social media apps like Instagram and Facebook. Some users have been frustrated by accidentally engaging with the bot. It's not possible to opt out, no matter what Meta AI tells you.

PWC SURVEY

Enterprises prioritize tech spending over cost-cutting, says PwC.

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More than half of C-suite leaders said their organization is investing in new technologies, like generative AI, according to a PwC survey.

The Details:

  • Imminent Business Failures: 34% of CEOs predict that an average competitor will be out of business within three years if they fail to overhaul their business models.

  • Execution Challenges: 84% of executives report difficulties in implementing changes at the necessary pace to stay competitive in the market.

  • Consensus on Change: Only 41% of executives feel there is a strong consensus within their organizations on how to actually implement the desired business model changes.

Why It Matters:

  • Risk of Extinction: The survey reveals a stark outlook for businesses, with a significant number predicting closure if they do not adapt, highlighting the survival stakes in the current business climate.

  • Alignment Gaps: The low percentage of consensus on execution strategies indicates significant alignment gaps within companies, which could hinder effective transformation.

  • Pace of Change: The challenge of keeping up with the necessary pace of change points to a broader issue within industries struggling to adapt quickly enough to evolving technological and market conditions.

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APPLE

Apple's 'Sherlocking' strategy might harm third-party developers.

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Apple's approach of embedding popular third-party app features directly into its operating systems is known as "Sherlocking." This strategy greatly affects smaller app developers as Apple keeps expanding its ecosystem by adding features that were originally unique to independent apps.

The Details:

  • Introduction of In-house Features: Apple has introduced a new call recording and transcription service, directly competing with existing apps like TapeACall, which charges a substantial fee, whereas Apple’s service is free.

  • Impact on Third-party Apps: Numerous apps, including Grammarly and 1Password, find their functionalities replicated within Apple’s operating system updates, challenging their market positions.

  • Developer Dilemma: The phenomenon known as “Sherlocking” has often left small developers in a precarious position, having to innovate beyond what Apple integrates or face diminishing user bases and potential extinction.

Why It Matters:

  • Market Dynamics: Apple’s practice of incorporating popular third-party functionalities directly affects competition and innovation within the tech ecosystem.

  • Developer Relations: The relationship between Apple and third-party developers is strained by practices perceived as anti-competitive, influencing how developers engage with the App Store and Apple’s platform.

  • Consumer Choice: While consumers may benefit from integrated features that enhance the iOS user experience without additional cost, the long-term impact on app diversity and innovation could be detrimental.

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AI IN FREELANCERS

AI is coming for your online freelance jobs.

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Since the launch of ChatGPT, the demand for human freelancers has decreased significantly across several fields.

The Details:

  • Writing Jobs: There's been a 30% reduction.

  • Coding Tasks: Demand has dropped by 20%.

  • Graphic Design: Sees a 17% fall.

  • Social Media and Data Entry: These areas experienced a 13% decline.

Why It Matters:

  • Minimal Pay Increases: Despite the drop in demand, there has only been a minimal increase in pay rates, suggesting that AI is taking over simpler, short-term jobs.

  • Impact on Traditional Freelancing: The shift towards AI tools like ChatGPT is reshaping the freelance market, reducing the volume of available work for human freelancers and altering pay structures.

  • Adaptation Strategies: Freelancers are finding innovative ways to integrate AI into their work processes, either to enhance their competitiveness or to address the lower quality outputs from AI in some cases.

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