Categories
AI Generative AI

Generative AI benefits business and people

Generative AI has been a hot topic recently. We talked to many customers about the opportunities generative AI brings about. We briefly summarize some applications to share with our customers and those of interest.

Generative AI brings a lot of opportunities for existing and upcoming organizations, and for people as well. Generative AI can improve productivity, in marketing and sales, in operation, in IT, in HR, and in other areas.

Generative AI can classify, edit, summarize, answer questions, and draft new content.  Generative AI can be image, video, audio, and coding.

Marketing and sales

Generative AI can draft personalized marketing, social media, and technical content. Generative AI can:

  1. Write marketing and sales content
  2. Create product and service guide
  3. Analyze customer feedback
  4. Improve sales
  5. Create or improve chatbot

Operation

Generative AI can:

  1. Create or improve customer support chatbot
  2. Identify errors, anomalies, and defects
  3. Streamline customer service

IT

Generate AI can write, document, and review code. Generative AI can:

  1. Write code and document code
  2. Test code
  3. Review code
  4. Generate synthetic data

HR

Generative AI can:

  1. Creating custom interview questions
  2. Provide self-serve HR functions

People

Generative AI can help people

  1. Optimize communications, such as auto email response, text translations, tone changing or wording
  2. Create presentation
  3. Synthesize a summary
  4. Enable search and then answer questions
  5. Sort and extract documents

Answer Complex Questions

Generative AI can pull required information from a large amount of documents and:

  1. Draft and review documents
  2. Summarize and highlight changes in documents
  3. Answer questions from large amounts of documents

Categories
Accounting

Startups and small businesses use accounting services as a strategy

Startups and small businesses don’t want to worry about anything other than their core business. Startups and small businesses hope to focus on developing their businesses. They hope to put all their resources on core business.  For accounting, what could be their strategies?

Like all businesses, startups and small businesses need to handle their accounting jobs. These accounting jobs usually include tax filing, bookkeeping, invoice and payment, payroll, financial documentation, and advisory. There could be more than listed.

Startups and small businesses can hire accountants full time or part time, contract accountants, or contract accounting service to a third party. Startups and small businesses may have limited resources, or like to focus only on their core businesses. Their best choice could be outsourcing accounting.

A good accounting service can give startups and small businesses advice on tax plan, and on compliance with most updated tax laws.

Startups and small businesses usually want to raise money from banks, governments, and others. Good financial reports prepared by experienced and professional accounting service providers can help startups and small businesses succeed, and provide a good reputation.

Even startups and small businesses are small in scale, accounting related work can cover a wide area, which requires various skills and levels of kills. Hiring a full-time or part-time accountant, or an individual contract, may not be able to fully cover these required skills and level of skills. Thus, the best choice could be hiring a firm with the right abilities.

Startups and small businesses have strong core competencies in their core business. Outside their core competencies, startups and small businesses usually save resources in other areas for their core business development. Startups and small businesses can outsource accounting functions to accounting service providers with the right capacities to balance between focused business development and well-functioning accounting.