According to a media outlet, OpenAI, the company behind ChatGPT, has started the process of establishing data centre operations in India. Data from users in India and a few of its smaller bordering nations is probably stored at the hub. According to sources cited in the story, OpenAI is now speaking with a few data centre operators, although these are only the very beginning stages of their strategy.
They could need some time to go over specifics like the venue and capacity. According to the report, the AI behemoth is eager to finish the procedure by 2025 but has not established a deadline. The majority of OpenAI’s servers are housed in data centres in the US state of Texas. The creator of the well-known chatbot serves consumers worldwide, including those in India, by utilising Microsoft’s Azure Cloud services.
India Second Biggest Market for OpenAI
CEO Sam Altman stated during his recent trip to India that the country is OpenAI’s second-largest market, with a threefold increase in users in the last 12 months. “I observe that folks in India are utilising AI in various aspects of the stack, including chips, models, and other amazing applications. Therefore, I believe that India ought to take the lead. During a fireside talk with IT minister Ashwini Vaishnaw on February 5, Altman stated, “I believe India should be among the leaders of the AI revolution.”
“That’s a reference to a comment I made here a few years ago about cost,” Altman said, attempting to elucidate a statement that caused controversy on his previous visit to India. That might have been taken out of context. At that particular moment, there was a scaling issue, and I still believe it is costly to remain on the cutting edge of pre-trained models,” he said.
He was questioned if a small team could produce a substantial AI model on a $10 million budget while he was in India in 2023. “It’s totally hopeless to compete with us on training foundation models,” he’d stated. It was long before the low-cost AI helper from Chinese company DeepSeek rocked the IT industry.
Tug of War Between Open AI and Chinese DeepSeek
Sam Altman’s tour takes place at a time when OpenAI is facing significant challenges due to the emergence of DeepSeek, a Chinese AI search engine platform that claims to have developed AI models that can compete with the best models from US firms like OpenAI, Meta, and Google at a far lower cost. India has one of the biggest populations and developer pools in the world.
OpenAI will be able to increase its earnings by establishing a physical base in the nation. The trip coincides with a wave of copyright infringement cases against the AI giant for allegedly exploiting local digital platforms’ and book publishers’ content to train its chatbot ChatGPT without permission.
Meanwhile, OpenAI has apparently started talking about data localisations in an effort to ward off any additional regulatory obstacles. The corporation wants to store its Indian consumers’ data in the nation itself as part of this. Since India is one of the company’s largest developer ecosystems, OpenAI is naturally seeking methods to increase its presence there.
In preparation for the Digital Personal Data Protection Act of 2023, it has already started talking about ways to localise the data of its Indian citizens in domestic data centres. A person with knowledge of the development told Livemint that the drive to localise data operations is probably going to start soon.
Major Indian media organisations have attempted to join a copyright case against OpenAI, the firm behind the well-known AI chatbot ChatGPT, but OpenAI is retaliating. A media report claims that the company has contended in a recent court filing that it is not required to sign into licensing agreements with Indian media companies and does not utilise their content to educate ChatGPT. Media companies owned by prominent figures like Mukesh Ambani and Gautam Adani are among the Indian media groups that have alleged OpenAI for using their content without any license or agreement.
In a 31-page court filing, OpenAI denied allegations that it uses content from its website to train its artificial intelligence model. The filed documents are a reaction to a lawsuit filed by a well-known Indian news organisation. The latter claims that OpenAI has copied its news articles without permission.
Indian Media Joining Forces to Fight with AI Giant
The case was filed by ANI in November 2023. A group of Indian publications has joined the action, including the Digital News Publications Association (DNPA), which represents Ambani’s Network1, The Indian Express, Hindustan Times, and NDTV (owned by Adani). These media outlets have accused OpenAI of using their websites to train ChatGPT by unauthorizedly scraping content.
The lawsuit filed by ANI is demanding damages of 20 million rupees ($230,000), according to a report from an international media outlet. This is the first legal obstacle that OpenAI has faced in the Indian market, which is also the company’s second-largest market. The case may have a significant impact on how AI businesses manage Indian internet content. In its legal response, OpenAI has insisted that it does not rely on information from the Indian media groups involved in this lawsuit and that it trains its AI models using publicly available data.
Open AI Navigating to Troubled Waters
Since November 2022, when OpenAI began making ChatGPT accessible to the public, the company has been the subject of allegations from a variety of sources that the AI chatbot was trained using copyrighted content. Eight American newspapers, including The New York Times, The New York Daily News, The Chicago Tribune, The Denver Post, and others, are suing Microsoft and OpenAI, claiming that ChatGPT trained the chatbot on copyrighted news stories without authorisation or payment.
Five of Canada’s most well-known news organisations also brought a similar copyright infringement action against OpenAI, according to a media report. OpenAI OpenAI has defended its conduct by asserting that it is “impossible” to develop practical AI models like ChatGPT without using copyrighted material and that its usage of copyrighted materials is in accordance with “fair use” rules. Please check Indiatimes News for other global news and current events.
On February 4, Union Minister Ashwini Vaishnaw stated that a local foundational AI platform is anticipated in ten months, and that India may be able to develop its own high-end processing hardware, known as GPUs, in the next three to five years.
Vaishnaw stated that the government will provide 18,000 top-tier GPU-based computing facilities for AI development to entities in the nation within the next few days and anticipates India’s own AI platform within ten months during a Budget Roundtable 2025 hosted by two renowned media houses.
According to Vaishnav, the Ministry is considering three different solutions, each of which would include building the country’s own GPU using a chipset that is reasonably priced and either open source or licensed. The entire world has adopted this strategy, which will enable each nation to have its own GPU within three to five years.
Surge in GPU’s Demand
In the past, multimedia content processing involving several computational operations, such as gaming and video processing, was handled by GPUs (graphics processing units). However, the global demand for AI has caused a sharp increase in the demand for GPUs, and the US chip manufacturer Nvidia controls more than 80% of the industry. According to the minister, Indian Railways increased the confirmed ticket rate by 27% by leveraging AI models, and a number of start-ups have grown really effectively, albeit in comparison to ChatGPT.
According to him, developing artificial intelligence models requires high-end computing equipment, which can only be purchased by wealthy individuals. However, the government has put in place a system that allows everyone to access computing infrastructure at a reasonable cost. Vaishnaw added that researchers, academicians, companies, institutions, and IITs may all access this computing capability and use it to launch foundational models.
When asked whether India would have its own foundational model for AI, Vaishnaw responded, “10 months is the outer limit.” According to him, there are numerous research papers that essentially discuss mathematical techniques that, for instance, the Chinese artificial intelligence company DeepSeek has employed to make the entire process extremely effective.
Make In India Churning Jobs for Indians
According to Vaishnaw, 12 lakh direct and indirect jobs have been created by the government’s mobile manufacturing division under the Make in India initiative. In order to demonstrate the degree of quality and accuracy attained by Indian electronic industries, he displayed a metallic object that was made up of numerous precisely linked pieces, without any apparent lines.
He claimed that it took three years for a well-known Indian business to reach the high degree of accuracy needed by a vendor to supply parts for the production of Apple and Samsung’s high-end smartphones.
India now produces a number of goods and parts needed in the mobile phone sector, such as chargers, battery packs, various mechanics, USB cables, keypads, display assemblies, camera modules, lithium-ion batteries, speakers and microphones, vibrator motors, and more, according to the minister.
Abhishek Singh, additional secretary, Union Ministry of Electronics and Information Technology (MeitY), stated during his visit to GIFT City in Gujarat on 27 January that India is seeking proposals for developing its own foundational model in order to compete with foreign AI foundational models that serve as the basis for numerous applications such as ChatGPT and Gemini. He added that how India creates a basic model has been a major problem.
At the moment, every core model that a nation uses, including ChatGPT, Llama 3, Gemini, and Claude, is foreign. China has now developed Deepseek and other models as well. To create an Indian foundational model, India must invest and offer financial assistance. The foreign fundamental models can provide incorrect or unsuitable answers because they were trained on western data sets and are not adapted to Indian languages and contexts.
Speaking at the opening of the event, where Chief Minister Bhupendra Patel was also in attendance, Singh went on to say that the government is putting out a call for proposals to create a foundational model in India so that India can compete with the best in the world. Singh continued without revealing a deadline for the submissions, saying, “I am confident that some of the start-ups and innovators present today will be joining this challenge to build an Indian foundational model.”
Foundational Model and Risks of AI
One kind of artificial intelligence model that can handle a variety of jobs is the foundational model. These models can be used in a wide range of applications because they are developed by training on large and varied datasets. While AI has a lot of potential, Singh also believed that there are a lot of risks associated with it. The nation has witnessed how deepfakes and false information operate, as well as how incorrect AI reactions can lead to issues.
To do this, the government is developing instruments for creating AI that is ethical, responsible, safe, and trustworthy. Tools for identifying algorithmic biases, false information in AI, and deepfakes are being developed by researchers and organisations. CoEs and any start-ups developing it will also have access to these technologies. Prime Minister Narendra Modi will visit Paris from February 10–11, when France and India will co-host the AI Action Summit, Singh said, adding that India was engaging “globally in the development of AI governance guidelines.”
India to Set up 18000 Graphic Processing Units
According to the additional secretary, India’s IndiaAI Mission aims to establish 18,000 Graphic Processing Units (GPUs) in order to create a high-end, scalable AI computing ecosystem that will assist researchers, academicians, students, and start-ups. In comparison to other nations, India has relatively few GPUs.
In order to achieve its goal of setting up 10,000 GPUs, the government has held bids under the AI Mission and collaborated with the industry. It is aiming for 18,000 GPUs at very competitive prices, and it has opened the financial bids last week. Additionally, all researchers and startups will have access to these GPUs at a further discounted price. This will also help the start-ups operating in the CoE, Singh continued.
Indian book publishers and their foreign counterparts have accused OpenAI of utilising proprietary content to train its ChatGPT chatbot in a copyright case they filed in New Delhi, according to a group’s spokesperson.
According to a media outlet, the complaint was brought in December at the Delhi High Court by the Federation of Indian Publishers, which has members including Bloomsbury, Penguin Random House, Cambridge University Press, Pan Macmillan, Rupa Publications, and S. Chand and Co. A similar complaint against OpenAI, filed by the Indian news service ANI, is also pending in court. The complaint demands reimbursement for its use and attempts to prevent OpenAI from gaining unauthorised access to copyrighted content, according to Pranav Gupta, general secretary of the federation.
In an interview, Gupta stated that the federation had asked the court to prevent OpenAI from accessing its copyrighted material. They should remove datasets used for AI training and specify how the federation will be paid if they choose not to engage in licensing with the federation. Creativity is impacted by this, he added further.
A Tug of War Between AI and Copyright Issues
The case joins an increasing number of international legal actions taken against tech companies that are allegedly training generative AI systems with copyrighted material. Authors, singers, and news organisations are bringing claims to courts all over the world to defend their intellectual property.
Supported by Microsoft and credited with sparking interest in generative AI with the 2022 release of ChatGPT, OpenAI has refuted claims of copyright infringement, claiming that its systems use publicly accessible data fairly. According to the federation’s lawsuit, ChatGPT’s book summaries are detrimental to the publishing sector. Using copyright limitations as an excuse, an international media agency’s report showed that ChatGPT could produce thorough chapter-by-chapter summaries of Harry Potter and the Philosopher’s Stone without actually reading the book.
“Why would people purchase books if this free tool generated book extracts and summaries?” Gupta stated. “All of our members are worried about this because it will affect our sales.”
What are OpenAI’s Recommendations?
OpenAI has maintained that Indian courts lack jurisdiction since its servers are situated overseas and that any court order to remove training data could breach its legal responsibilities in the US. The federation responds, however, that OpenAI’s activities in India are governed by regional legislation.
By including disclaimers in its books that forbid utilising any portion of them for AI training, Penguin Random House has already taken action to safeguard its content worldwide. A judge is scheduled to hear the lawsuit on January 28 after the Delhi High Court registrar requested OpenAI to reply to the federation’s argument.
In 2023, OpenAI hired Pragya Misra, a former WhatsApp executive, to manage partnerships and public policy in India, demonstrating the company’s considerable progress in the country. With 1.4 billion people and a fast-expanding internet user base, India is an important market for tech companies.
ChatGPT from OpenAI is back up following a significant outage that lasted for roughly forty minutes. The Microsoft-backed software giant revealed that it experienced a 37-minute major outage and a nearly two-hour partial outage on 23 January. The GenAI chatbot experienced higher error rates as a result of a problematic gateway fault issue. At 7:13 PM IST, the business determined the underlying source of the problem and, in roughly one and a half hours, put a solution in place.
According to OpenAI, the chatbot’s issues have been resolved as of now. Between 5:53 PM and 8:40 PM, there was an outage. “This problem has been fixed. Customers encountered higher problems on ChatGPT between 4:23 am and 7:10 am PST (5:53 pm and 8:40 pm IST), according to the company. Additionally, OpenAI’s API experienced a significant one-hour outage today. By 6:13 PM, a solution to the problem was put into place.
What Exactly Happened on 23 January 2025?
Users who had been accustomed to ChatGPT‘s fast fixes were in a panic when the largest GenAI chatbot in the world went down worldwide on January 23. About 4,000 Indian users reported that ChatGPT was down for the last hour, according to the outage tracker website Downdetector. It is important to note that 300 million people use ChatGPT every week worldwide. A poor gateway error with reference code 502 was reported by the web server on the website. Usually, the technical issue occurs when a server receives an invalid answer from another server. Server overload, network issues, configuration mistakes, or brief outages on upstream servers are the usual causes of the problem.
On January 23, the firm announced that ChatGPT was experiencing a “Partial Outage” and that it was looking into the matter. For ChatGPT, “we are currently seeing high mistake rates. We’re looking into it right now,” stated Status of OpenAI.
OpenAI Founding Members of Stargate Project
With a plan to invest $500 billion over the next four years to construct new AI infrastructure for OpenAI in the United States, the Microsoft-backed business announced that it will be one of the founding members of the Stargate Project. Oracle, Microsoft, NVIDIA, and Arm will also serve as the organisation’s “initial technology partners.” In a formal declaration on January 22, OpenAI announced that it would start deploying $100 billion right away. In addition to aiding in the United States’ reindustrialization, this project will give the country and its allies a strategic capability to safeguard their national security. This was the fifth significant outage for ChatGPT since December. On December 11, ChatGPT experienced the longest outage, remaining unavailable for 4:10 hours.
A world where financial professionals can predict market trends, analyse complex data, and make informed decisions with the click of a button! We’re not talking about science fiction – this is the reality of AI in finance today. As we step into 2024, the corridors of financial technology are growing at breakneck speed, with these finance tools leading the charge.
These cutting-edge solutions are not changing the game. Infact, they’re redefining it entirely. In this article, we’ll explore the cream of the crop when it comes to AI financial analysis tools. Even if you’re looking to enhance your risk analysis, improve customer retention, or gain deeper insights into stock market prediction, these tools are set to change the world upside when it comes to how financial professionals work in the coming year.
ChatGPT has emerged as a powerful tool for financial analysis, offering a range of capabilities that are transforming how professionals approach their work. This AI-powered assistant can process vast amounts of financial data in a fraction of the time it would take a human analyst, making it an invaluable asset for those looking to gain quick insights and make informed decisions.
Financial Analysis Capabilities
ChatGPT is an absolute breeze when analysing complex financial documents, including balance sheets, cash flow statements, and earnings reports. Through natural language processing, it can extract relevant information and provide concise summaries, helping analysts quickly grasp the essential points. This AI finance tool can also identify trends and patterns in market data that might otherwise be overlooked, offering a more comprehensive view of the financial circle.
Impact on Financial Decision-Making
The impact of ChatGPT on financial decision-making is significant. It can generate financial forecasts by training on historical data, enabling more accurate predictions of future trends. This capability is handy for portfolio management, where real-time analysis of market movements can inform investment strategies. Moreover, ChatGPT can assist in risk assessment by analysing various data sources, including credit histories and financial statements, to provide a more holistic view of potential risks.
Best Practises for Using ChatGPT in Finance
To maximise the benefits of ChatGPT in finance, it’s crucial to follow best practices. Firstly, ensure that the data used to train the model is accurate and up-to-date. Secondly, you should use ChatGPT as a complementary tool rather than a replacement for human expertise. While it can process information quickly, human judgement remains essential in interpreting results and making final decisions. Lastly, regularly update and refine the model to keep pace with changing market conditions and regulatory requirements.
This AI finance tool can process vast amounts of complex data, turning it into eye-catching and interactive visualisations that help analysts quickly grasp essential points and make informed decisions.
Financial Data Visualisation Features
Tableau offers a variety of chart types, including bar charts, line charts, scatter plots, and maps, allowing users to create dynamic dashboards and visualisations. These features enable financial professionals to understand data in depth, drill into specific data points, and create hierarchies. Tableau’s flexibility in connecting to various data sources, including cloud-based platforms, makes it a versatile choice for financial analysis.
Integration with AI
The integration of AI in Tableau has further enhanced its capabilities. Tableau Agent, powered by generative AI and statistical analysis, helps users prepare data sources, create visualisations, and tell stories with data more efficiently. This AI assistant automates time-consuming analytics processes, accelerating data-driven decision-making across the entire analytics journey.
Benefits for Financial Professionals
Financial professionals can leverage Tableau to create dynamic, interactive, and automated financial reports such as P&L statements, balance sheets, and cash flow statements. The tool’s data blending and drill-down features help in determining data variations and patterns within organisations. Tableau’s ability to connect numerous data sets and draw up relevant financial information makes it an invaluable asset for making important financial and business decisions.
Plan
Pricing
Tableau Creator
$75/Month per user
Tableau Explorer
$42/Month per user
Tableau Viewer
$15/Month per user
Enterprise Creator
$115/Month per user
Enterprise Creator
$70/Month per user
Enterprise Viewer
$35/Month per user
RapidMiner for Predictive Analytics
Website
www.altair.com
Rating
4.6
Free trial
Yes
Platforms supported
Web
RapidMiner – Best AI Finance Tools
RapidMiner is known for offering a comprehensive set of predictive analytics capabilities. This platform simplifies the process of extracting data from diverse sources, cleaning it, and incorporating it into various predictive modelling workflows.
AI-Powered Predictive Models
RapidMiner’s AI Studio supports model development by data scientists, providing a user-friendly interface and automation features that streamline the ETL process. This makes it accessible to users with varying levels of technical expertise. The platform’s ability to handle unstructured data and produce actionable insights swiftly makes it a preferred choice for organisations focused on efficient data mining and aggregation.
Financial Forecasting Capabilities
For financial forecasting, RapidMiner offers various tools and techniques. Users can create models for individual series or aggregate data for broader predictions. The platform supports the use of windowing operators for both training and testing sets, which is crucial for forecasting multiple time periods ahead. Additionally, lag series and moving average operators are particularly useful for volatility forecasting in stock market prediction.
Risk Assessment Tools
RapidMiner provides robust risk assessment tools, making it valuable for financial professionals. The platform’s ability to process vast amounts of data quickly allows for comprehensive risk analysis. Users can make the most out of RapidMiner’s machine learning algorithms to identify patterns and trends that might indicate potential risks, enhancing decision-making processes in financial analysis.
Plan
Pricing
Professional
$7,500/Month per user
Enterprise
$15,000/Month per user
AI Hub
$54,000/Month per user
Microsoft Power BI for Business Intelligence
Website
www.microsoft.com
Rating
4.5
Free trial
Yes
Platforms supported
Web, IOS/Android
Microsoft Power BI – Best AI Finance Tools
This powerful platform enables financial professionals to transform raw data into actionable insights, allowing them to make informed decisions and drive business success.
AI-Enhanced Financial Reporting
Power BI’s AI-driven capabilities have revolutionised financial reporting. The platform incorporates advanced analytics and machine learning algorithms to automate data analysis and uncover hidden patterns. This feature allows financial professionals to generate in-depth reports with ease, saving time and reducing the risk of human error. Power BI’s natural language processing capabilities enable users to ask questions in plain English, making data exploration more intuitive and accessible.
Real-Time Analytics
Providing real-time analytics is one of the standout features that Power BI possesses. This capability is crucial for financial professionals who need to monitor market trends and make split-second decisions. Power BI allows users to connect to various data sources and refresh data automatically, ensuring that dashboards and reports always reflect the most current information. This real-time functionality is particularly valuable for stock market prediction and risk analysis in the world of finance.
DataRobot has emerged as a powerful AI finance tool, revolutionising the way financial professionals approach machine learning. This platform simplifies the process of building and deploying models, making it accessible to both data scientists and business users. DataRobot’s automated machine learning capabilities enable rapid model development and deployment, reducing time to value for financial institutions.
AI-Driven Financial Modelling
DataRobot’s AI-driven financial modelling capabilities are transforming how professionals approach complex financial tasks. The platform’s automated machine learning features allow users to quickly build and deploy models for various financial applications, including stock market prediction and risk analysis. DataRobot’s ability to handle unstructured data and produce actionable insights swiftly makes it a preferred choice for organisations focused on efficient data mining and aggregation in the financial sector.
Fraud Detection Capabilities
In the realm of fraud detection, DataRobot shines as a robust tool for financial professionals. The platform’s advanced analytics and machine learning algorithms can process vast amounts of data to identify patterns and trends indicative of fraudulent activities. This capability is particularly valuable in the insurance industry, where DataRobot has been used to improve the accuracy of predicting fraudulent claims. By leveraging historical cases of fraud and their associated features, DataRobot can apply learnings to new claims, assessing whether they share characteristics of known fraudulent patterns.
Investment Strategy Optimisation
DataRobot’s investment strategy optimisation features provide financial professionals with powerful tools to enhance their decision-making processes. The platform’s ability to analyse complex financial data and generate insights allows for more informed investment strategies. Its machine learning models can pick up patterns from historical data to accurately predict future consumer behaviour, superseding traditional analytics for population segmentation and filtering. This capability is particularly useful for financial institutions looking to optimise their investment portfolios and maximise returns while managing risk effectively.
Plan
Pricing
Essentials
Custom
Business Critical
Custom
Conclusion
As we wrap up our journey through these tools, it’s clear that 2024 is shaping up to be a transformative year for financial professionals. The future of finance is undoubtedly intertwined with AI, and staying ahead of the curve is crucial for success in this field. If you want to get to the next level with AI, why not dive into StartupTalky’s legacy newsletter, ‘Smell The Coffee‘? It’s packed with quality case studies, news, insights, and business model decoding sessions that’ll keep you at the forefront of AI innovation. As we continue to glide forward in this exciting new era, one thing is certain: the tools we’ve discussed today are just the beginning of a revolution that will shape the financial world for years to come.
FAQ
What is the future of Ai in the finance industry?
The future of AI in finance will enhance risk assessment, provide personalized customer experiences, and enable automated trading. It will improve fraud detection and regulatory compliance while streamlining operations. Overall, AI will transform the financial industry by increasing efficiency and reshaping how institutions interact with clients.
Can Ai replace financial professionals?
AI can automate routine tasks in finance, but it won’t replace financial professionals entirely. Human skills like strategic thinking and relationship management are irreplaceable. Instead, AI will enhance decision-making, allowing professionals to focus on higher-value tasks.
How is AI used for finance?
AI tools work hand in hand with finance professionals by handling data analysis and automating routine tasks. This partnership frees up time for experts to focus on making strategic decisions and building relationships with clients, ultimately improving efficiency and the quality of service they provide.
Can AI make financial models?
Yes, AI can create financial models by analyzing large datasets, identifying patterns, and automating data processing. It enhances accuracy and efficiency, enabling finance professionals to generate better forecasts and insights.
At times when everything around us is changing at an exorbitant pace, at an age where efficiency and innovation are paramount, the integration of artificial intelligence (AI) has emerged as a game-changer for small business owners. Contrary to the misconception that AI is solely reserved for large corporations with deep pockets, a lot of free AI tools have become readily available, empowering entrepreneurs to make the most out of the transformative potential of this incredible piece of technology without breaking the bank.
The allure of free AI tools lies not only in their cost-effectiveness but also in their ability to optimise workflows and streamline operations. By using these innovative tools, small business owners can punch above their weight, operating with the agility and efficiency typically associated with larger enterprises. Moreover, the accessibility of free AI tools enables entrepreneurs to test and experiment with various platforms, allowing them to identify the most suitable tools for their unique business needs without the risk of substantial financial investment.
ChatGPT: The Power of AI-Driven Copywriting
Company
ChatGPT
Founded
2022
Free Trial
Yes
Rating
4.7 out of 5
Website
chatgpt.com
Best Free AI Tools – Chatgpt
Undoubtedly one of the most prominent free AI tools available, ChatGPT from OpenAI has captivated the attention of businesses worldwide with its versatile language model and vast array of applications. Small business owners can leverage ChatGPT’s prowess to streamline content creation, from crafting compelling website copy and engaging social media captions to composing persuasive sales emails and newsletters. With its ability to write in various tones and from diverse perspectives, ChatGPT serves as a virtual writing assistant, empowering entrepreneurs to produce high-quality content efficiently.
Pros:
A convenient and accessible content creation tool
Capable of writing in diverse tones and styles
Easy to use on desktop and mobile devices
Cons:
May provide inaccurate or biased information
Requires a learning curve for new users
Generated content may not be optimised for search engines
Canva, the renowned graphic design platform, has unlocked the power of AI with its innovative image generator. While AI image generation is still in its infancy, Canva’s tool impresses with its ability to create strikingly realistic images of people, objects, and scenes. This feature is invaluable for small business owners seeking to upscale their visual content without the need for costly stock photography or professional design services. With the option to convert generated images into videos, Canva’s AI image generator offers a versatile solution for businesses seeking to elevate their visual branding and marketing efforts.
Pros:
Creates realistic and visually appealing images
Seamlessly integrated into Canva’s graphic design software
Offers the ability to convert images into videos
Cons:
Limited to a specific number of image prompts for free users
May struggle with complex or highly detailed image requests
Generated images may require further editing or refinement
Thryv: Your Online Presence with AI
Company
Thryv
Founded
2013
Free Trial
Yes
Rating
4.6 out of 5
Website
thryv.com
Best Free AI Tools – Thryv
Thryv’s suite of free tools, designed specifically for small businesses, includes the Online Presence Scanner, a powerful AI-driven solution for optimising your digital footprint. This tool scans the web for mentions of your business across various platforms, including Google, Yelp, and social media channels, compiling a comprehensive report detailing your online reputation, customer reviews, and overall digital presence. By providing a snapshot of your business’s online visibility, the Online Presence Scanner empowers entrepreneurs to identify areas for improvement and implement targeted strategies to enhance their online presence.
Pros:
Generates a detailed report within minutes
Tailored for small business owners
Provides a PDF version of the report for easy sharing and reference
Cons:
Requires manual refreshing to update the analytics
Offers insights but lacks specific recommendations for improvement
May be less relevant for businesses without an active online presence
Steve.ai: AI-Driven Video Production
Company
Steve.ai
Founded
2014
Free Trial
Yes
Rating
4.6 out of 5
Website
steve.ai
Best Free AI Tools – Steve.ai
In the age of visual storytelling, Steve.ai emerges as a powerful ally for small business owners seeking to create engaging video content. This AI-driven video production tool can generate animated and live-action videos from scratch, offering entrepreneurs a cost-effective solution to captivate their audience. With the ability to analyse website content and create videos based on the information provided, Steve.ai simplifies the video creation process, allowing small businesses to produce high-quality visual content without the need for extensive editing skills or resources.
Pros:
Creates videos from text, URLs, and audio inputs
Offers unlimited video creation for free users
Provides the option to create 3D animated videos
Cons:
Limited video editing features in the free version
Grammarly, the much coveted AI-powered writing assistant, has become an indispensable tool for professionals across various industries, including small business owners. Through advanced natural language processing algorithms, Grammarly not only identifies and corrects grammar, spelling, and punctuation errors but also provides insightful recommendations for improving sentence structure, clarity, and overall flow. With seamless integration into popular writing platforms like Google Docs and email clients, Grammarly ensures that every written communication from your business is polished and professional, fostering a positive brand image and enhancing customer trust.
Pros:
Easy to install and use across multiple writing platforms
Offers the ability to rewrite content in different tones or styles
Provides comprehensive feedback on grammar, spelling, and writing style
Cons:
Free versions offer limited recommendations and features
Plugin compatibility issues may occasionally occur
Some recommendations may be irrelevant or unnecessary, requiring manual review
Photoroom: Simplifying Image Editing with AI
Company
Photoroom
Founded
2019
Free Trial
Yes
Rating
4.3 out of 5
Website
photoroom.com
Best Free AI Tools – Photoroom
For small business owners seeking a user-friendly solution for basic image editing tasks, Photoroom emerges as a valuable AI-powered tool. With its intuitive interface and AI-driven capabilities, Photoroom enables users to remove backgrounds from existing images, add new elements, and make other adjustments to create visually appealing graphics. This tool is particularly useful for entrepreneurs who need to create transparent backgrounds, add banners or text to stock photos, or perform simple design tasks without the need for advanced graphic design skills.
Pros:
User-friendly interface suitable for beginners
Offers unlimited downloads for free users
Provides 24/7 customer support
Cons:
Advanced features are only available in the premium version
Free downloads include a watermark, limiting commercial use
Gemini: Google’s AI-Powered Knowledge Base
Company
Gemini
Founded
2014
Free Trial
Yes
Rating
4.4 out of 5
Website
gemini.google.com
Best Free AI Tools – Gemini
Gemini, powered by Google, is a versatile AI tool that shares similarities with ChatGPT while offering a distinct advantage: access to real-time data. Unlike ChatGPT, which relies on a static knowledge base, Gemini is trained on up-to-date information, making it an invaluable resource for entrepreneurs seeking the latest insights and information. In addition to its copywriting capabilities, Gemini excels at providing solutions to complex queries that may be challenging for traditional search engines to address, making it a powerful ally for small business owners seeking to stay ahead of the curve.
Pros:
Powered by real-time, up-to-date information
Seamlessly integrated with other Google apps
Allows for modification and refinement of AI-generated responses
Cons:
May require a learning curve for new users
Limitations in accurately counting and analysing images
Potential for biased or inaccurate information due to reliance on online data
Buffer: Next Level Social Media Management
Company
Buffer
Founded
2010
Free Trial
Yes
Rating
4.3 out of 5
Website
buffer.com
Best Free AI Tools – Buffer
In the crowded lanes of social media, Buffer emerges as a powerful companion for small business owners seeking to optimise their online presence. This incredible social media management platform not only tracks and schedules posts across multiple channels but also includes an AI assistant to craft compelling and engaging content. By utilising the power of AI, Buffer assists entrepreneurs in crafting messages that resonate with their target audience, while also providing valuable insights and recommendations for future content strategies.
Pros:
Offers a centralised calendar for scheduling social media posts
Integrates with a wide range of social media platforms
Provides advanced features for free users
Cons:
Premium reporting features are only available with paid plans
May have a learning curve for new users
Limited customisation options for AI-generated content
Reclaim.ai: Workflow Optimisation On Steroids
Company
Reclaim.ai
Founded
2019
Free Trial
Yes
Rating
4.8 out of 5
Website
reclaim.ai
Best Free AI Tools – Reclaim.ai
Reclaim.ai is another AI-powered solution designed to optimise productivity and streamline workflows for small business owners. With its “smart meetings” feature, this tool automatically schedules meetings based on your availability, eliminating the hassle of back-and-forth communication. Additionally, Reclaim.ai allows users to upload and automate routine tasks, known as “habits,” ensuring that essential activities are seamlessly integrated into their daily schedules. Furthermore, the platform’s reporting capabilities provide valuable insights into productivity levels, enabling entrepreneurs to identify areas for improvement and make data-driven decisions.
Pros:
Offers a wide range of free scheduling tools and features
Ideal for business owners with strict schedules and time constraints
Compatible with Google email accounts for seamless integration
Cons:
May require a significant onboarding process to fully utilise all features
Some business owners may not require the full suite of tools
Limited customisation options for specific workflow requirements
Whisper, an OpenAI tool, has emerged as a game-changer for small business owners seeking to transcribe audio content accurately and efficiently. Whether you need to provide written transcripts for videos, podcasts, or recorded client conversations, Whisper leverages advanced speech recognition technology to convert audio files into text with remarkable precision. This tool not only saves time and effort but also ensures that valuable information is preserved and easily accessible for future reference or analysis.
Pros:
Provides accurate and reliable transcriptions
Simple and efficient to use
Offers options to modify and refine transcripts as needed
Cons:
Requires a GitHub account to access and use the tool
May not be user-friendly for those unfamiliar with command-line interfaces
Limited to processing audio files, excluding other media formats
Final Thoughts
Let’s not shy away from the fact that we are currently in for a treat – the most exciting of times in the technological era. Afterall, AI has enabled businesses to emphasise upon collective growth and it has all doubled down like a newly found superpower at helm. The times are incredible and this is just the beginning of what the future may hold. AI has significantly slashed the cost of creativity for the layman, and as long as you are willing to be creative, it is a +1 for you! Still confused? Well, head on to StartupTalky and access our detailed overview of a number of AI tools (Yeah, we have a complete library of tools and how they’ve been performing) to include them in your startup/business/profession. It is cool. Keep experimenting, keep talkying!
FAQ
What are the best free AI tools for small businesses in 2024?
The best free AI tools are ChatGPT, Canva, Thryv, Steve.ai, Grammarly, Photoroom, Gemini, Buffer, Reclaim.ai and Whisper.
How can AI tools help small businesses save time and money?
AI tools can help automate the usual day-to-day tasks, improve efficiency and make strategic decision-making easy.
Do I need any technical expertise to use free AI tools effectively?
No, usually AI tools are well-designed and user friendly which makes them easy to use for everyday tasks.
As the former interim CEO and Chief Technology Officer of OpenAI, Mira Murati is recognized not only for her credentials but also for her strong stance on the ethics of emerging technologies.
Mira Murati, a 34-year-old Albanian woman, is a prominent figure in the field of artificial intelligence as AI continues to dominate the global landscape. Leading the development teams behind groundbreaking projects like ChatGPT and DALL-E, she has been passionate about ensuring the public understands the potential of AI, particularly in the healthcare sector.
On September 25, 2024, after six and a half years with OpenAI, Murati announced her decision to step down as Chief Technology Officer. In a statement shared on X, Murati explained that “this moment feels right” for her to leave, highlighting OpenAI’s recent progress in the AI industry.
She mentioned her desire to “create time and space for personal exploration” as the reason for her departure but emphasized her focus on ensuring a smooth transition and keeping up the momentum the team has built. Murati expressed gratitude for the chance to work with such a remarkable team at OpenAI.
Along with Mira, VP Research Barret Zoph and Chief Research Officer Bob McGrew also announced their departures via X from OpenAI.
Murati was born in Vlor, Albania, a nation in Southern Europe, on 16 December 1988. She went to Canada when she was 16 years old to attend Pearson College UWC, where she earned an International Baccalaureate diploma in 2007. She then attended Dartmouth College and earned a Bachelor of Engineering in mechanical engineering, where she also built a hybrid race car, graduating in 2012.
Mira Murati – Career
Murati began her career as an intern at Goldman Sachs in 2011, then moved on to Zodiac Aerospace from 2012 to 2013. She began her career at Tesla in 2013 as a senior product manager on the Model X, a luxury electric SUV. She began to genuinely engage with technology at Tesla, where she worked on early versions of Autopilot. In 2016, she left Tesla to join Leap Motion, a firm that creates motion-sensing technologies for virtual and augmented reality. There, she improved her skills in bridging the technical and human-computer interface divide. Drawn by the company’s mission to ensure that AGI benefits humanity, Murati joined OpenAI in 2018 as the Vice President of Applied AI and Partnerships. She was in charge of commercializing OpenAI’s products and enhancing them through human input. She also served on the leadership teams that created ChatGPT, Dall-E, and Codex, three of the world’s most sophisticated and dynamic AI systems.
She recently joined the board of directors of Unlearn.AI, a startup specializing in the development of machine learning methods capable of diagnosing diseases and accelerating their treatment.
Mira Murati – OpenAI
Founded in 2015 as a non-profit to develop AI that is “safe and broadly beneficial,” OpenAI has evolved to become one of the world’s most powerful AI organizations. Murati was promoted to the position of CTO of OpenAI in May 2022, where she oversaw the company’s research, product, and safety departments. After the board of directors dismissed Sam Altman in November 2023, she was appointed as the interim CEO of OpenAI. Murati was then replaced by Emmett Shear as the interim CEO of OpenAI.
Murati has constantly pushed for transparency and communication in the development of artificial intelligence, emphasizing the significance of open discourse and stakeholder participation. Murati is the company’s first female CEO and the first person of Albanian descent. As CEO, she was responsible for guiding OpenAI through a key transition time, combining her technological experience and business acumen to influence the company’s future course.
Murati stated her goal for OpenAI in her first interaction as interim CEO: to create a future where AI is a force for good, empowering individuals and solving global concerns. She emphasized the importance of developing AI with safety, justice, and inclusion as guiding principles, ensuring that it benefits mankind as a whole. She believes that artificial intelligence has the potential to solve some of the world’s most serious issues, such as climate change and healthcare. She is dedicated to harnessing the potential of artificial intelligence responsibly, ensuring that it becomes a tool for advancement rather than a danger to mankind.
On September 25, 2024, Murati resigned as the CTO of OpenAI. She wrote on X:
Murati’s favorite song is Radiohead’s Paranoid Android. She felt the song to be layered, with references to society and technology. Her favorite book is Rainer Maria Rilke’s Duino Elegies, a collection of poetry. She received it as a present. She was moved by the depth and beauty of the poems. 2001: A Space Odyssey is her favorite film.
After ChatGPT, the AI market had a boom! For content platforms, AI tools like ChatGPT and Perplexity are serving as pet robots. If your client has a tech-related website, you can ask ChatGPT: “Give me link magnet ideas for my website in the technology niche.” The AI will then suggest relevant, potentially high-value topics.
In the changing world of Search Engine Optimization (SEO), combining Artificial Intelligence (AI) with link building has made it easy. It could offer new ways to increase your website’s ranking and profile. In this article, we will see how you can use ChatGPT to make your SEO backlinking faster, easier and better.
These days, the mix of Artificial Intelligence (AI) and connecting websites has changed how we improve our online presence. It’s a big change. Now, there are many AI tools available. These tools have changed connecting websites from being hard and taking a long time to something simple and fast.
AI’s powers go beyond simple automation. It supercharges research, careful contact work, and smart study of link-building. These tools help a lot, easily finding potential connections while also analyzing and understanding what competitors are doing. This would be hard to do without them.
The strength of AI shows when it can provide custom ways to reach people, a big change in getting important links back. AI-driven tools for reaching out to help make contact with customers automatically. They also add a personalized feel.
These special messages, helped by AI programs, connect more deeply with link sources. They make it much more likely that strong backlinks will be built. This personal way also helps to make better and deeper ties in your special group, setting the stage for long-lasting friendships and working together.
For getting links on the internet, making good content is very important. It should be interesting and make others want to link back to it naturally. Getting this right needs careful mixing of quality, importance and interest.
Content excellence is non-negotiable. Making good content that talks directly to what your audience wants and likes is very important. Here, tools that use AI to create content become very helpful friends.
These tools help make content and also make good, important pieces. that connect with the people you want to reach. By using AI, the information becomes more than just words on a screen. It becomes attractive to joiners and makes your site a trusted place for knowledge and expertise.
Including eye-catching elements in your content plan can greatly help create more links. AI technology helps here too. It can give a hand in making exciting pictures, deep videos or fun digital content.
These parts make it better for users and get them more involved. They draw in connectors as well. Pictures help others understand better and also make them want to share. This naturally helps get more links and makes your website better known on the internet.
Leverage AI in Web Link Building Activities
These smart tools do more than just gather data. They give you useful information that changes the way you do things. Using AI tools not only keeps tabs on how well your bought links are doing but also reveals more complex information about how users behave and change rates.
See clearly which links bring the most people, which ones lead to more involvement, and importantly, which ones turn visitors into customers. This level of detail in data lets you make good choices. You can change and improve your plans based on real-world proof instead of guessing.
Predict a situation where special studies using smart technology show that many articles on important websites send lots of visitors to your site. But, one kind of content gets way more people to do what you want.
With this knowledge, you can target your work on making more of certain types of content or seeking guest post chances that fit with that theme. This focused strategy makes sure your work on getting links isn’t just about getting them but also brings real results for your business.
Predictive link building, helped by AI systems, gives us a forward-looking advantage. These programs look at patterns, what people buy and changes in the business world to guess good chances to connect early on. This ability to predict helps you act ahead of others in finding and making use of chances before they get popular.
For example, an AI system might spot a growing interest in a specific area of your job. With this thought, you can make content or start contact campaigns around that new subject. This will make your website a reliable place before the trend becomes very popular. This plan helps you get important links to your site and make it known as an early user and expert in the field.
Mastering AI-Powered Link Building
Natural Link Building: Try to get links by making real connections, working with influencers, and taking part in business events. AI tools help you by finding important people and making useful connections for you.
Spying on Competitors: Tools driven by AI help you see what your rivals are doing. They show how they get their backlinks and find chances for you to do the same in the future. By using this info, you can change and make your strategies better. This will help you be ahead in link building.
AI and link building work together to greatly improve your SEO. This makes your website rank better in general. AI not only gathers information but also makes your plans smarter. This helps your website do better in search results, bring in more people without forcing it, and make them more likely to become paying clients.
Carefully study every part of your plan for building connections. It lets you change your ways just right to fit what makes you ranked on search sites. The result? Your website slowly moves up the search results pages. This brings in more natural visitors and raises the chance of getting them to convert.
Use AI to Build Web Relationships
On the Internet, Using AI Technology with strategies not only gives significant chances to grow but also, matters and affects the things on the Internet. When you add AI-based tools to your website, you put a site in the lead to new changes. It helps make it last a long time and do well.
An AI study shows that certain types of website connections from certain sites make your website much easier to find. This data helps you concentrate on getting more good backlinks for your website. This makes it more important and helpful to search engines.
When we buy links online, AI tools help us keep an eye on how well they are doing.
They also reveal more complicated information about how people behave and whether they are turning into customers.
Artificial intelligence enables us to see which links drive the most people to our website and which ones engage them the most.
We can use this data to determine which links convert visitors into customers.
Good decisions can be made with the help of detailed data provided by AI tools.
By using real-world evidence rather than just guesses, we can change and improve our plans.
A study of artificial intelligence might demonstrate that certain types of content attract more visitors.
We can then create more of this type of content or look for other websites where it can be shared.
Writing articles for other websites is easier when we know which content works better.
Our business will benefit greatly if we choose topics that people find interesting and relevant.
Based on patterns and changes in what people are interested in, artificial intelligence can predict future opportunities.
This enables us to move quickly and seize opportunities before others do.
Being ahead of the curve using AI insights enables us to become early experts in a given sector.
Besides drawing significant traffic to our website, this builds our reputation as industry experts and leaders in our field.
Using AI for link building creates many chances to improve your internet presence. When AI is used together with link-building plans, it makes things grow more than ever before. This mix lets businesses stand out and be seen more on the internet.
FAQ
How to use AI for link building?
AI can help you find the relevant websites in your niche which can make link-building easier.
Can AI do backlinks?
Yes, lots of tools with AI can analyse the website’s sources and help one find the best potential link sources.
How to use Chat Gpt for link building?
Chat GPT can be best used to find relevant websites and keywords. The AI tool can also help build personalized connections.
What is automated link building?
Automated link building is making the process of link building with the least human effort by automating the whole process.
Is link building useful?
Link building is essentially an important aspect of SEO. Link building can help bring quality traffic to the website which can eventually help in getting potential customers.
Nitin Konde
