Everyday Use of AI.

When your phone’s battery charge levels determine your credit worthiness…

In this age of artificial intelligence (AI), I have a few emails coming into my inbox asking how AI really affects our everyday lives. The truth is, AI is slowly becoming a big part of various parts of the economy.

In communication:

I work on communication strategies for clients, and keeping up with the latest in digital trends has been quite interesting.

Lately, I’ve been bombarded with ads from a digital money lending app on my Google timelines. It bothered me because I don’t like these apps due to their high interest rates. Even though I kept flagging and avoiding the ads on YouTube, they still popped up in my email and search ads.

Out of curiosity, I dug into who was behind these persistent ads and how they managed to target me so well. Surprisingly, I found out the lending app was from a Chinese company. It made me wonder how they assessed my creditworthiness and offered loans over KES 450,000.

The precise positioning of the ads on each platform was truly impressive, ensuring they reached the most relevant audience.

What stood out the most was that ads were cleverly positioned across platforms, leveraging the unique design elements of each to maximize impact.

(google has since picked on my concerns and has reduced the number of ads placed on my timeline.)

However, it raised a bit of concern for me: Are we being too open to promoting a multitude of products?

Our country’s economy is quite open, allowing investors to come and go using the Safaricom Platform. But this openness brings new challenges.

These lending apps are causing trouble in an economy already facing issues. Despite regulations, they offer loans that beat traditional bank loans. Their easy access makes vulnerable Kenyans pick them up easily, a topic we need to discuss more. (I digress)

Banking and Lending

The digital lending app, using AI technology, can figure out my creditworthiness based on simple things like my battery charge and how confidently I type in the request. The video explains that facial recognition is also a key factor in the success of these applications.

AI is changing the way we do our daily activities, and the question is: Is Kenya ready for the changes AI will bring?

If AI is used in banking, how many more people will be needed to approve loans?

For those who want to understand more about AI’s history and future, I suggest watching a four-year-old video by Frontline


What is AI?

But what exactly is AI? AI tools are software applications that use artificial intelligence to do specific tasks, from simple ones like generating text to more complex ones like analyzing data or predicting future events.

Here are some of the different types of AI tools available:

  • Generative AI tools: These tools can create new content, such as text, images, or music. For example, a generative AI tool could be used to write a blog post, create a marketing campaign, or design a new product. At eleven labs,¬†Figma has also incorporated AI into the platform, and Gantt charts are automatically generated on the platform.



Figma platform

  • Analytical AI tools: These tools can analyze data to identify patterns and trends. For example, an analytical AI tool could be used to analyze customer data to identify buying patterns or to analyze financial data to detect fraud. Kissmetrics

Image of Analytical AI tools analyzing data

  • Predictive AI tools: These tools can use data to make predictions about the future. For example, a predictive AI tool could be used to predict which customers are likely to churn, or which products are likely to be popular. Predictive AI tools making predictions: Kissmetrics

Image of Predictive AI tools making predictions

AI tools are becoming increasingly popular, as they can help businesses improve efficiency, productivity, and innovation. However, it is important to remember that AI tools are not perfect, and they should not be used to make important decisions without human oversight.

Here are some of the benefits of using AI tools:

  • Improved efficiency:¬†AI tools can automate tasks that would otherwise be performed by humans, freeing up time for other activities.
  • Increased productivity:¬†AI tools can help businesses get more done in less time.
  • Enhanced innovation:¬†AI tools can help businesses come up with new ideas and solutions.
  • Reduced costs:¬†AI tools can help businesses save money by automating tasks and improving efficiency.

However, there are also some potential risks associated with using AI tools:

  • Job displacement:¬†AI tools could lead to job displacement as they automate tasks that were previously performed by humans.
  • Bias:¬†AI tools can be biased, as they are trained on data that may be biased.
  • Lack of transparency:¬†It can be difficult to understand how AI tools make decisions, which can lead to a lack of trust.

Overall, AI tools have the potential to be very beneficial for businesses. However, it is important to be aware of the potential risks and to use AI tools responsibly.

AI tool of the Week

My AI app tool for the day is submagic.co 

Submagic is essentially an AI assistant for creating captions and enhancing short-form video content. Here’s a breakdown:

What it does:
  • Automatic Captions:¬†It uses AI to transcribe the audio in your video and automatically generate captions,¬†saving you the time and effort of manual typing.
  • Eye-catching Styles:¬†You can choose from various trendy templates and add emojis to spice up your captions and grab attention.
  • Beyond Captions:¬†It goes further than just text,¬†offering features like:
    • Magic B-Rolls and Transitions:¬†AI-powered suggestions for stock videos and transitions to add visual interest.
    • Music and Sound Effects:¬†Enhance your video with background music and sound effects for a more immersive experience.
    • Descriptions and Hashtags:¬†Generate video descriptions and hashtags to improve searchability and engagement.
Who it’s for:
  • Social media creators: perfect for anyone creating short-form videos for platforms like YouTube,¬†TikTok,¬†and Instagram.
  • Businesses: We can help small businesses and brands create engaging video content for social media marketing.
  • Anyone without video editing experience: It’s easy to use,¬†even if you’re not a video editing pro.
Key benefits:
  • Saves time and effort:¬†Automates captioning and offers helpful suggestions for enhancing your video.
  • Makes videos more engaging:¬†Eye-catching captions,¬†B-rolls,¬†and music can grab viewers’ attention and keep them hooked.
  • Improves reach and engagement:¬†Descriptions and hashtags help people find your content,¬†and engaging videos lead to more shares and likes.

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