Google Reveals Findings from 2023 U.S. Economic Impact Report

In 2023, we witnessed the impact of generative AI on small and medium-sized businesses, providing them with innovative tools to expand, accomplish tasks efficiently, and generate new sources of revenue. Business owners began utilizing AI tools like Gemini to create advertising campaigns, reach out to potential customers in Performance Max, respond to inquiries quicker, and generate valuable business insights in minutes rather than hours. This marked just the beginning of how AI-powered tools are revolutionizing industries and helping businesses and communities increase productivity, foster creativity, and tap into new opportunities in the coming years.

Many businesses have already embraced the use of AI tools to propel their growth. One such example is Wisecut, founded by Ivo Machado, who ventured from Brazil to the United States in pursuit of new prospects. While working in video editing to sustain himself, Ivo delved into the realm of AI and envisioned an algorithm that could swiftly make editing decisions, saving time and effort. Collaborating with his brother Vicente, a software developer, they established Wisecut in Miami in 2019. Leveraging Google Search and participating in the Google for Startups Latino Founders Fund, Wisecut witnessed a remarkable 4,000% surge in users and a triple-fold increase in employees in 2023. Currently, half a million creators utilize Wisecut’s AI features to automate tasks such as cutting and editing, adding subtitles, and more, enabling them to save precious time and enhance their creative output.