August 22, 2023

The Revenue Engine for the AI Economy: What Does That Mean?


"Gradually and then suddenly," Ernest Hemingway once wrote. He could have been describing artificial intelligence that for years only resided in the pages of science fiction but now occupies everything, everywhere, all at once. 

AI is a disruptive technology that enterprises today are integrating in a massive tidal wave of innovation in areas such as e-commerce and payments, banking and finance, fraud prevention, education, content, vehicles, navigation, robotics, human resources, healthcare, agriculture, gaming, social media, and marketing. 

In just the last year ChatGPT, which stands for Generative Pre-trained Transformer, attracted 1 million users within the first five days of the chatbot's release; OpenAI launched DALL-E 2, a deep-learning model that can produce images from text instructions; and Google and Meta generated a way to produce videos from text. 

In recent years, AI keeps making business news: MarketsandMarkets projects the AI economy to reach $407 billion by 2027, experiencing substantial growth from its estimated $86.9 billion revenue in 2022. Last year, 35% of companies reported using artificial intelligence technology in their businesses, according to IBM, which specified AI's application in both off-the-shelf solutions like virtual assistants and embedded in existing business operations like IT processes. NewVantage Partners indicated that 91% of the 90 organizations represented in their survey are already investing in AI activities. 

Most business owners believe artificial intelligence will benefit their firms. Organizations can significantly lower costs, increase efficiency and boost productivity as well as create paths for new products, services and markets. According to the Forbes Advisor survey, 73% of businesses use or plan to use AI-powered chatbots for instant messaging; 61% of companies use AI to optimize emails, and 55% of companies deploy AI for personalized services, such as product recommendations. The Forbes survey also found businesses onboard for AI to improve production processes (53%) and search engine optimization tasks (52%). 

The amazing thing is the development of artificial intelligence is just getting started. Forbes announced the number of AI startups since 2000 has increased 14 times, while investments in AI startups have increased six times. New startups and development spurred on by academia and ground-breaking technologists project to create even more AI-infused content, services, and solutions across the entire conceivable spectrum. 

Many of those trailblazing tech creators hope to have the opportunity to monetize their innovations — but they need the right engine and the right partner. Wildfire is the revenue engine for the AI economy. 

Our platform, plus an outstanding growth and development team, enhances the artificial intelligence economy. Wildfire can help transform AI startups or new technology into revenue-generating models. We can do this by detecting and monetizing product mentions and purchase intent generated and enhanced by artificial intelligence, chatbots, and other software. 

Our platform turns new AI tech from creators, inventors, and entrepreneurs into new consumer links and revenue-driven commerce for any type of brand recommendation or product. This includes chatbots, travel companions, predictive text, or other applications that generate enhanced content. Whatever creative AI application develops; Wildfire can monetize it. In addition, the versatility of the Wildfire platform allows its integration with other systems in countless and seamless ways. 

Here is how the Wildfire platform works: 

Using artificial intelligence (AI) and natural language processing (NLP) it detects product references and purchase intent within all forms of digital communications. 
It automatically generates trackable and shareable links to any of its almost 60,000 merchant programs. 
When users click links and transact, Wildfire tracks the resulting purchase. 
Merchants then pay a revenue share to Wildfire, which then remits a portion to its client. 

A surge of technological advancement, driven by artificial intelligence, is coming. Whatever AI development is in the pipeline, Wildfire can transform it into a revenue-generating model.