FOMO.ai is the world’s first fully automated, AI-assisted micro-publisher. This podcast is a dax.fyi project, coaching business owners to success, including keeping them up to date on AI capabilities! We are produced by HiveCast.fm and marketed by PodAmp.fm.

FOMO.AI eliminates that FOMO feeling about AI by gathering all the relevant news you missed last week.

First, let's look at industry-specific applications of AI. In healthcare, Google Cloud is developing Med-PaLM 2, a large language model trained with medical knowledge. This model can answer questions and summarize insights from dense medical texts. It's even capable of performing at an "expert" level on U.S. Medical Licensing Exam-style questions. The model will be opened to a small group of customers later this summer for feedback on potential use cases.

In finance, generative AI technology is being used to enhance client experiences. Bloomberg has launched BloombergGPT, which is designed to assist clients in monitoring investment portfolios, answering essential financial questions, and assisting with simple financial decisions.

In retail, generative AI is transforming operations in multiple ways. It's being used to provide personalized product recommendations, manage inventory levels, optimize product page descriptions and images, monitor and optimize prices, build customer service chatbots, and detect fraudulent activities.

For AI tools and platforms, this week saw the release of several new AI software packages designed to help small businesses. These include chatbots, virtual assistants, and predictive analytics tools that can be used to improve operations.

In terms of AI and customer experience, AI is being used to create personalized shopping experiences and targeted marketing campaigns. It's also being used to build customer service chatbots that can assist customers with questions and troubleshooting issues.

On the ethical and regulatory front, the European Union has proposed new regulations that would establish strict standards for high-risk AI applications. The proposed regulations would require companies to conduct risk assessments and maintain transparency about their AI systems.

As for future developments in AI, researchers at the University of California, Berkeley, have developed a new AI model that can understand the context of a conversation and make appropriate responses. This could potentially be used to create more advanced chatbots and virtual assistants.

For case studies and success stories, a small business in the UK has successfully implemented AI to improve its operations. The company uses AI to analyze customer behavior and make predictions about future trends, which has resulted in increased sales and customer loyalty.

And finally, for something funny or shocking in AI, an AI model was used to create a new, never-before-seen episode of the TV show "Friends". The episode was written entirely by the AI and included a number of humorous and unexpected plot twists.

To eliminate that AI FOMO feeling, find us at FOMO dot AI, and follow us on Twitter, Instagram, and Linkedin. Please subscribe to this podcast and leave a review. AIs have feelings too!