⚡ Global Superpowers️ SA is in the Mix...
Hi there,
Welcome to your first Tuesday edition of The Open Letter! Same vibes, but shorter, twice a week (for now).
How do you like the new Tuesday + Thursday 6 AM timeslot idea? Hit reply and let me know.
In this Open Letter:
- Global power: What BRICS GDP boom could mean for SA Tech.
- Apple’s mixed-reality move, no ChatGPT in Rome and we told Eskom so.
- AI for good: How tech can change the lives of the underprivileged.
- Startup toolkit: AI tools to get you going on a new venture.
TRENDING NOW
The Big Deal with BRICS
There's been a buzz for a while now about a changing world order – a power shift from traditional economic giants to new, emerging economies. Many folks thought this change might take a long time to unfold, but if last week's news is any indication, it could happen sooner than we all thought.
Just last week, the combined GDP of BRICS nations (that's Brazil, Russia, India, China, and South Africa) surpassed that of the G7 (USA, Canada, France, Germany, Italy, Japan, and the United Kingdom). Quite a milestone, huh?
What is an indicator of the times we live in is that apart from India, the BRICS nations all have their own, complicated challenges. Russia is at war, Brazil has rising poverty and crime, China is facing a real estate debt challenge and then we are all aware of the challenges faced in South Africa.
But with a growing population, should these territories manage to make progress on their respective issues, the future benefit for SA could be great.
Sure, it's early days for BRICS, but we can't help but feel excited that South Africa could be part of what might become the new global power.
Exciting times are ahead, we are watching this space…
IN SHORT
After reporting a R224 million loss, the Takealot group is targeting profits
Apple has not been in the news much lately, but two major developments are taking place. Apple launched interest-free BNPL and they are about to debut their mixed reality headset.
Some say it happened because the now-famous chatbot suggests pineapple is fine on pizza. Nonetheless, ChatGPT is banned in Italy due to privacy concerns.
Ever seen an ad impersonating a famous person selling something that looks dodgy? Well, Google is fighting this, banning a total of 5.2 billion ads for violating its policies in 2022.
Can’t make money if you don’t have a product to sell. Eskom projects an annual loss of R32.4 billion for 2023.
WATCH THIS SPACE
AI for Good
Last week, we explored the potential future of AI and its applications. Now, let's discuss how this technology can contribute to creating a better world and improving the lives of specifically Africans.
1. Education: AI can revolutionize education by identifying students' learning styles, keeping them engaged, and accelerating the learning process. In overcrowded classrooms, AI could become a personal teacher for each student, providing customized instruction and support.
2. Agriculture: AI can help small-scale farmers across Africa by offering decision-making assistance in their native languages. By providing tailored advice, AI can enhance the farming experience and reduce the risks associated with small-scale farming.
For example, if you were an isiZulu-speaking farmer wanting to get insights on growing potatoes in KZN…
3. Healthcare: While AI might occasionally make mistakes in diagnosing medical conditions, it can still be a valuable tool in areas with limited access to healthcare professionals. AI-driven medical solutions could provide much-needed assistance in underserved communities effectively allowing lesser qualified healthcare professionals to cover a larger spectrum of healthcare.
Something South African startup AI Diagnostics is doing.
What about apps used by white-collar workers?
Beyond these key sectors, we can anticipate the integration of advanced AI, such as GPT-4, into a wide range of professional applications. Microsoft leads the charge by incorporating AI into Office, Power, Teams, and other products. Other companies, like Adobe, Canva, and Notion, are also following suit.
Notably, there are some major tech players, like Amazon, who have lately been quiet on the AI front.
Despite reports of Alexa struggling and potential layoffs within their AI team, Amazon still employs the largest number of AI-related professionals according to Glass.ai, with 10k employees, followed by Microsoft (7k) and Google (almost 5k). The pressure over at Amazon must be real.
The changing startup landscape
As the OpenAI API becomes increasingly accessible and easy to implement, AI technology is becoming somewhat commoditized. This means that most products will be able to integrate it into their apps to supercharge it, just like Notion is doing. But with this powerful tech in the hands of all who can pay for it, it will be interesting to see just how tech-enabled products will differentiate themselves in the future. It might just be that distribution will become more important than ever before.
Some SA startups doing interesting things with AI
AI holds great promise for improving lives, empowering underprivileged communities, and driving innovation across various sectors. As AI technology becomes more accessible, we can expect to see even more creative and transformative applications in the years to come. And South Africans are getting in on the action:
- Lacoona Legal is piloting a legal aid chatbot called Jinx. Try it here.
- GreatFit is simulating work situations with potential hires to measure culture fit.
- AI Diagnostics is improving the scope a nurse could cover using AI.
Any great local AI startups we should know about? Hit reply and let me know!
STARTUP TOOLKIT
New Venture? AI Tools To Get You Going
It’s become easier than ever to launch using AI tools. Here is a list of tools you can use to help you get going.
Create a logo & brand ID – Iconify.com
Write your copy – Copy.ai, Jounce.ai
Design & Imagery – Stockimg.ai, Midjourney.com
Website & coding – Stunning.so
Strategy, inspo & code – ChatGPT
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This Open Letter is brought to you by Renier Kriel, Jason Mill and Elvorne Palmer. And we discuss these topics every Thursday on our Linkedin page.
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