This Week in Business Tech News
This week, we’ve got a mix of business tech news stories that are worth your attention. From Intuit offering a lifetime version of QuickBooks to Microsoft’s Recall AI tool making a comeback, there’s something for every small and mid-sized business.
Business Tech News #1 – Intuit is offering a lifetime version of QuickBooks for $250
- Intuit is offering a limited-time deal on QuickBooks Desktop Pro Plus 2024, providing a lifetime license for a single user at $249.99, significantly reduced from its regular price of $699.
- This version caters to small businesses, freelancers, and solo entrepreneurs seeking comprehensive financial management without ongoing subscription fees.
- This offer is available through StackSocial, but interested users should act promptly, as it’s available only while supplies last.
This software encompasses a range of features, including invoice creation, expense tracking, detailed financial reporting, customer and vendor account management, job profitability analysis, fixed asset tracking, inventory management, and sales order processing. Enhanced bank feeds and time tracking functionalities streamline reconciliation and payroll preparation. It also integrates with other Intuit tools like TurboTax, ensuring synchronized financial operations.
Why this is important for your business:
According to PCMag, the software offers a great value for small businesses and freelancers who need reliable financial management without the ongoing subscription fees. This deal is a great opportunity for businesses to upgrade their financial management systems and take advantage of the features and benefits they offer.
Business Tech News #2 – Microsoft’s Recall AI tool is making an unwelcome return
| Features of Recall AI tool | Privacy concerns |
|---|---|
| Captures and indexes screenshots of user activity every three seconds | Raises concerns about data security and potential misuse |
| Requires users to opt-in and authenticate via Windows Hello | Even with these measures, sensitive information from non-users can still be inadvertently captured and stored on others’ devices |
This raises ongoing concerns about data security and the potential for misuse, despite Microsoft’s efforts to enhance privacy controls. However, the feature may provide faster recovery from problems such as malware attacks or natural disasters, reducing losses for businesses.
Why this is important for your business:
Of course, there are data and privacy issues to consider. However, the potential benefits of having a feature like Recall AI tool outweigh the risks. As with everything in tech, there’s a tradeoff between risk and reward. Businesses must weigh the pros and cons and make informed decisions.
Business Tech News #3 – ChatGPT gets a useful new home for your AI images
ChatGPT’s new feature – Library – provides users with a dedicated tab to store and manage their AI-generated images.
- Available across both the mobile app and web interface, for free and paid users alike.
- Collects all images created in past chats, allowing users to edit, download, or create new images directly from this section.
- Currently lacks advanced search or filtering options, but these may be added in the future.
This update is a great step towards OpenAI’s plans for a social network – possibly inspired by Instagram – where AI-generated images and videos play a central role. This latest move aligns with the growing trend of AI-generated content becoming more social and shareable.
Why this is important for your business:
According to TechRadar, there are rumors of OpenAI’s plans for a social network where AI-generated images and videos will play a central role. This latest move could open up another channel for engagement and sales with new customers for small businesses.
Business Tech News #4 – Nine out of ten retailers are embracing AI to enhance personalization
- Solutions platform Apply Digital shared research on how retailers are utilizing AI.
- Results showed that nine out of ten retailers are embracing artificial intelligence (AI) to enhance personalization in their operations.
- Retailers are utilizing AI in various ways, including analyzing customer data to provide personalized product recommendations, optimizing inventory management, and streamlining supply chain operations.
- AI-driven tools are enabling businesses to forecast demand more accurately and automate customer service interactions, thereby improving efficiency and customer satisfaction.
This widespread adoption reflects the industry’s commitment to leveraging AI technologies to deliver more tailored customer experiences.
Why this is important for your business:
According to Retail Technology Review, AI will be the savior of brick and mortar. Small retailers should be keeping a close eye on what their bigger competitors are doing and tracking new applications like this that can keep them competitive.
Business Tech News #5 – Fourth introduces AI-powered back-of-house restaurant solution
| Features of Restaurant Operations Suite | Benefits for restaurants |
|---|---|
| Integrates workforce management, HR, payroll, and inventory management into a unified system | Streamlines back-of-house operations, reduces labor costs by 5 percent, cuts the cost of goods sold by 20 percent, and potentially increases profits by 3-5 percent |
| Simplifies manual tasks, allowing managers to focus more on customer service and creativity | Enables restaurants to make informed decisions with real-time insights and actionable recommendations |
This solution aims to enhance profitability for restaurants by streamlining operations and reducing costs. It simplifies manual tasks, allowing managers to focus more on customer service and creativity, which is critical in this industry where every penny is important.
Why this is important for your business:
According to Verdict Food Source, the solution is critical in this industry where labor is difficult to find and customer expectations are extremely high. Applications like this can help restaurants stay competitive and improve profitability.
Every Week in Business Tech News
This week, we’ve rounded up five business tech news stories that are worth your attention.