{"id":12220,"date":"2023-09-03T14:47:30","date_gmt":"2023-09-03T14:47:30","guid":{"rendered":"https:\/\/mysourcefunding.com\/startups\/a-linkedin-competitor-is-in-the-works\/"},"modified":"2023-09-03T14:47:31","modified_gmt":"2023-09-03T14:47:31","slug":"a-linkedin-competitor-is-in-the-works","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=12220","title":{"rendered":"A LinkedIn Competitor Is In The Works"},"content":{"rendered":"
\n

Here are five things in tech that happened this week and how they affect your business. Did you miss them?<\/p>\n

1 \u2013 Elon Musk slams ‘cringe’ LinkedIn and hints at creating a competitor.<\/strong><\/p>\n

Tesla co-founder Elon Musk did not mince words about his feelings concerning LinkedIn. \u201cThe cringe level is so high I just can\u2019t bring myself to use it\u2026\u201d Musk replied to a user on a Twitter\/X post. In the post Musk also suggested that a LinkedIn competitor is in the works. The solidity of this statement is anyone\u2019s guess but given Musk\u2019s takeover of Twitter\/X LinkedIn creators might want to keep watch. (Source: FOX Business)<\/p>\n

Why this is important for your business: <\/strong><\/p>\n

LinkedIn is indeed cringeworthy and to me everyone seems artificially fabulous on the platform. But Musk will have a lot of work ahead of him if he wants to take on this social media site \u2013 it\u2019s pretty well established and used by many in the business world. I don\u2019t think there\u2019s much to this threat.<\/p>\n

2 \u2013 Banks are training AI as financial advisors.<\/strong><\/p>\n

In the banking industry Chatbots are currently being programmed to interact with customers in an advisory capacity \u2013 addressing their financial questions and concerns \u2013 with the accuracy and insight of a financial planner. One example: finance company SoFi who has integrated \u201cGalileo,\u201d an AI customer service system reported to have \u201can uncanny human touch.\u201d (Source: PYMNTS)<\/p>\n

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Why this is important for your business: <\/strong><\/p>\n

AI will absolutely disrupt the wealth management industry \u2013 but in a good way I believe. Smart financial managers will use chatbots and Artificial General Intelligence to respond to common questions and execute certain transactions and while that\u2019s being done they\u2019ll have more time to provide a better and more personal human experience to their clients.<\/p>\n

3 \u2013 AI’s share of U.S. startup funding doubled in 2023.<\/strong><\/p>\n

Joanna Glasner of Crunchbase reported on the significant increase in AI investments in just one year. By comparison, investments in US startups have dropped across sectors. Glasner noted that between 2018 and 2022 AI investments hovered at a certain level then suddenly spiked this year. The explanation appears to be the shrinking pool of investment dollars to new ventures \u2013 but primarily \u2013 AI\u2019s universal application where companies are seeing an increase in their core competency by educating themselves and incorporating the technology into their operation. (Source: Crunchbase)<\/p>\n

Why this is important for your business: <\/strong><\/p>\n

AI is the new hot area \u2013 but is it sustainable? My bet is that billions will be wasted in bad investments but there will be a handful of AI companies that will not only change the world but make enormous profits for their investors and create the next generation of Zuckerbergs, Musks and Andreessens.<\/p>\n

4 \u2013<\/strong> Synthetic identity fraud is at an all-time high.<\/strong><\/p>\n

According to recent report by TransUnion, \u201csynthetic identity\u201d fraud has reached peak levels. Synthetic identities are created by merging disparate pieces of unrelated data so that an unknown infiltrator can access then use sensitive information \u2013 such as a social security number \u2013 and then scan for other key data such as another person\u2019s current residence, a different person\u2019s driver\u2019s license number \u2013 so that it can all be combined to create a fake identity. (Source: SDxCentral)<\/p>\n

Why this is important for your business: <\/strong><\/p>\n

To counteract this parasitic presence, Jason Lord, VP of Product Marketing for fraud and identity solutions at TransUnion, said: \u201cOrganizations should always be testing new fraud prevention tools\u2026 having better signals on interactions helps not only prevent fraud but gets the best consumers through faster.\u201d<\/p>\n

5 \u2013 Twilio expands CustomerAI capabilities with generative and predictive AI.<\/strong><\/p>\n

Communications platform Twilio is the latest company taking great leaps in its customer service model. \u201cCustomerAI\u201d is the label for what the company has called \u201cCustomer-Aware Generative AI through new OpenAI integration.\u201d (Source: VentureBeat)<\/p>\n

Why this is important for your business: <\/strong><\/p>\n

Details include voice intelligence that will source key information from conversations and predictive analytics. \u201cMost companies know that in order to understand their customers, they need to make use of their data,\u201d the company stated on its website. The large language model that powers voice intelligence \u2013 a major part of the CustomerAI development \u2013 is calibrated to be able to not only understand customers\u2019 needs but also to boost the quality of the customer experience with technology that\u2019s engaging.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Here are five things in tech that happened this week and how they affect your business. Did you miss them? 1 \u2013 Elon Musk slams ‘cringe’ LinkedIn and hints at creating a competitor. Tesla co-founder Elon Musk did not mince words about his feelings concerning LinkedIn. \u201cThe cringe level is so high I just can\u2019t […]<\/p>\n","protected":false},"author":1,"featured_media":12221,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[77],"tags":[],"class_list":{"0":"post-12220","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-startups"},"yoast_head":"\nA LinkedIn Competitor Is In The Works | Brandiary<\/title>\n<meta name=\"description\" content=\"Here are five things in tech that happened this week and how they affect your business. 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