Monday, 10 July 2023, Bengaluru, India
Ranti Dev Sharma saw that SMBs frequently need more skills to survive online with organic sales while working at Vetan, a firm that assists SMBs in managing employee payroll. The expense of hiring an agency is out of their price range, and creating content is expensive in terms of both time and money.
With the help of generative AI, the SpeedyBrand platform can produce unique SEO-optimised content for brands, such as websites and social media postings. Brands decide on a subject first. The platform is then used to generate text and recommend images suitable for the developed content.
Content generated by SpeedyBrand can be modified and further customized from the dashboard before being published to various outlets. Brands can monitor the performance of the content once it goes live, thanks to an analytics component.
One is that generative AI can and frequently run uncontrolled, no matter how effective, due to a condition known as “hallucination,” AI models occasionally confidently makeup facts. Text-generating AI can also spout poisonous, excessively offensive remarks due to biases and other imbalances in their training data.
Another issue that could affect brands is that generative AI has been demonstrated to steal copyrighted works. According to one study, ChatGPT’s indirect forerunner GPT-2 can be instructed to “copy and paste” complete paragraphs from its training data.
The issue of generative AI spamming the internet is another issue. According to a recent article by The Verge’s James Vincent, generative AI models are altering the web’s economic structure by making it cheaper and simpler to produce material of lesser quality. A startup called Newsguard, which develops tools for evaluating news sources, has revealed many ad-supported websites with generic names that contain false material produced by generative AI.
SpeedyBrand, according to Sharma, isn’t a content mill and takes measures to prevent any harmful content that the platform’s AI may produce. He asserts that SpeedyBrand’s AI can be tailored to brand tone and has a range that can be proven to be “plagiarised,” taking input from content modifications into account to enhance subsequent output.
The business employs six people and has over 1,000 users and about 50 paying clients. Sharma estimates that annual recurring revenue will exceed $1 million in the following year.
Considering the competition, that is outstanding. Typeface, which recently came out of hiding with $65 million in venture money, competes with SpeedyBrand. Generative AI is also being used by startups like Movio, Copysmith, content.ai, Sellscale, Jasper, Omneky, and Regie.ai to produce (supposedly) better marketing content, graphics, and even video for advertising, websites, and emails.
It is a sizable and expanding market. According to Statista, 87% of current AI adopters already use or are considering utilising AI to enhance their email marketing. According to another study, the generative AI market will be worth more than $110 billion by 2030.
Since over half of SMB owners manage their content marketing, there is an even greater motivation for that group to adopt solutions that could initially save them time, money, and a ton of pain.
SpeedyBrand intends to release more text and picture-generation tools using the money raised in the fundraising round.
[Source of Information: Techcrunch.com]
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