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Building Responsible Ai

Hugging Face’s Valuation Surge and the Voice-Activated Future of Payments

One key development in AI, carefully curated from numerous sources.

One more thing in AI

Dear reader,

Welcome to the latest edition of the “One More Thing in AI newsletter”. Why “One more thing”?

This phrase was made memorable by that master presenter and visionary- Steve Jobs, and I decided to borrow it. He would use this phrase before unveiling some of the iconic product features released by Apple. There is so much happening in AI that curating that “One thing” to focus on is becoming very difficult for startup founders and business leaders alike. That is where this newsletter comes in.

I aim to sift out one essential AI-related news item under topics like Fintech, Insurtech, LLMs, VCs, and Startups, among other topics.

I will do all the heavy lifting so that you don’t have to: by reading scores of articles, listening to podcasts, and watching videos on the topic of AI that you don’t have time for. For Startup founders and Business Leaders like you who want to get smart about AI in less than 5 minutes. For sponsorship opportunities, see the bottom of the newsletter. I hope you enjoy this edition!

In this Edition

Hugging Face’s Valuation Surge and Investment by Salesforce Ventures

APIs Meet AI: Gorilla’s Groundbreaking Integration

India Speaks Up: The Voice-Activated Future of Payments

NeuralMetrics: The Sherlock Holmes of Property Risk Assessment

AI Tool review- VenturusAI: A Game-Changer for Entrepreneurs

Blog recommendation

Podcast recommendation

AI Humor

Funding

Hugging Face’s Valuation Surge

📈 Key Development:

Hugging Face, an AI startup is on the cusp of securing an investment of approximately $200 million led by Salesforce Ventures. This move is significant due to its magnitude and propels the company’s valuation to an impressive $4 billion, marking a significant leap from its $2 billion valuation last year.

🔍 What’s Hugging Face Up To?

For those scratching their heads, thinking, “Hugging Face? Sounds cute, but what do they do?”, here’s the scoop. Based in New York, Hugging Face is like the grand library of Alexandria, but for AI. Instead of scrolls and manuscripts, it’s brimming with open-source AI models. Picture it as a bustling marketplace where developers can pick and mix AI tools for their next big venture.

🌐 Strategic Perspective:

Salesforce Ventures isn’t just dipping its toes in the AI waters; it’s diving headfirst. Their introduction of a $250 million generative AI fund, which subsequently expanded to $500 million, underscores their unwavering commitment to the sector.

💹 The AI Gold Rush:

The current fervor around AI investments is reminiscent of the Gold Rush era. Startups like Anthropic and AlphaSense are securing investments that would make Midas envious. And let’s not forget the big players: Microsoft made waves with its staggering $10 billion investment in OpenAI.

📜 Conclusion for leaders:

AI is not just a tech buzzword; it’s the future. Imagine being in the early days of the internet, witnessing companies like Amazon or Google in their infancy. AI is that burgeoning space and startups like Hugging Face are the trailblazers.

Large Language Models (LLMs)

Gorilla: Integration of Large Language Models with API 🦍

A Quick Dive into Gorilla’s Jungle

Gorilla isn’t just another LLM; it can seamlessly integrate with a plethora of APIs. Developed by the bright minds at UC Berkeley and Microsoft Research, Gorilla has been trained on massive datasets from Torch Hub, TensorFlow Hub, and HuggingFace. And the best part? It’s rapidly expanding its domain to include Kubernetes, GCP, AWS, OpenAPI, and more. In a head-to-head comparison, Gorilla even outshines models like GPT-4, Chat-GPT, and Claude.
Think of it as the difference between a standard car and a high-performance sports car; both can get you from point A to B, but one does it with much more flair and precision.

📈 Implications for you

Gorilla represents a confluence of financial acumen, technological expertise, and data-driven insights. Its capability to adapt to real-time API documentation changes and precision in API calls can significantly enhance operational efficiency and accuracy. Your tech team needs to know more about this development.

🌐 A Real-World Analogy

Remember the early days of smartphones? You’d have an app for everything. Now, imagine if your phone could suggest the right app for a specific task without you having to search for it. That’s what Gorilla aims to do, but in the world of APIs.
For instance, when given a prompt, while other models might suggest an incorrect library or a non-existent model, Gorilla nails it by presenting the perfect API call.

🔗 Curious to explore more?

Dive into the Gorilla project on GitHub or give it a whirl in just 60 seconds here. Happy exploring! 🦍🚀

Payments

From Cities to Villages: Expanding India’s Digital Payment Ecosystem using AI

📌 India’s New Leap: The Reserve Bank of India has unveiled plans for voice-based and offline digital payments, aiming to expand the country’s digital game.

📌 Bridging the Gap: This move aims to strengthen the connection between India’s bustling cities and the rural heartland, ensuring everyone gets a slice of the digital pie.

📌 Tech Talk: Thanks to advanced AI speech recognition, users can simply use their voice to initiate transactions. Plus, no Internet? No problem! Two phones can easily transact with the “near field communication” tech.

📌 Languages Matter: To kick things off, the service will roll out in English and Hindi, with plans to bring in more regional languages soon.

📌 UPI’s Skyrocketing Growth: Since its 2016 debut, the Unified Payments Interface, UPI, is now used by a whopping 350 million people. This July saw a staggering 10 billion transactions – a 50% jump from last year!

📌 Global Interest: This isn’t just making waves at home. International giants like Google and PhonePe are on board, and even countries like Singapore and the UAE are integrating aspects of India’s payment system.

Insurtech

🚀 NeuralMetrics: AI-powered Underwriting

Have you ever tried to guess how many jellybeans are in a jar? Insurance underwriters do that when assessing property risks but with much higher stakes. Imagine if they had a magic magnifying glass that could count those jellybeans instantly and accurately. That’s NeuralMetrics for you!

What’s the Buzz? 🐝

NeuralMetrics, hailing from Denver, has just launched an AI-powered tool like a detective for property risks. Think of it as Sherlock Holmes but for underwriting. This tool, powered by some of the most advanced AI tech, gives real-time insights into tenant occupancy risks.

The platform is powered by generative AI and Large Language Models (LLM) and offers detailed, dynamic information on tenant occupancy risks.

Why Should You Care? 🤔

1. Precision: Remember the last time you tried to guess someone’s age, and it went wrong? NeuralMetrics ensures underwriters don’t make such blunders. With just a business name and address, it provides a deep dive into property occupancy risks.

2. Efficiency: It’s like having a fast pass at Disneyland but for risk assessment. Underwriters can get instant, clear insights without waiting in line.

3. Transparency: NeuralMetrics ensures underwriters know precisely where their data comes from, making the process more transparent.

A Real-World Analogy 🌍

Imagine you’re a landlord (maybe some of you are!). You’d want to know about your potential tenants. NeuralMetrics does something similar but for commercial properties. It tells insurers about the businesses that occupy their properties, helping them set the right coverage and price.

In a Nutshell 🥜

NeuralMetrics is like that genius kid in class who always had the answers. It’s making the underwriting process more intelligent, faster, and transparent. And it’s a big step forward in making insurance more accurate and efficient.

AI Tool review

🚀 Spotlight on VenturusAI: A Game-Changer for Startups!

Introducing VenturusAI, a cutting-edge platform designed to supercharge startups and small businesses. Powered by advanced AI models, VenturusAI offers instant feedback on business ideas, comprehensive analysis, and tailored strategies. From understanding your target audience to generating innovative ideas, it’s an all-in-one solution for budding entrepreneurs. I took this tool for a test ride this week.

How it can help Startups and Small Businesses:

1. Idea Validation: Startups can quickly validate their business ideas using the platform’s AI-driven feedback mechanism.

2. Audience Insights: Businesses can create products or services that resonate more effectively by understanding their target audience.

3. Guided Business Strategies: Startups can benefit from the platform’s business strategy recommendations, helping them navigate the early stages of their venture.

4. Branding Assistance: With VenturusAI’s marketing and branding guidance, startups can establish a strong brand presence.

Pros:

1. AI-Driven Analysis: Leveraging advanced AI models ensures that the feedback and analysis are data-driven and comprehensive.

2. All-in-One Platform: From idea validation to marketing guidance, VenturusAI offers a range of tools in one platform.

3. Save money on business consultants and save time spent on research.

Cons:

1. Dependency on AI: While AI-driven analysis is robust, it might not capture the nuances and intricacies of every business idea and market.

2. Generic Recommendations: Some recommendations may be generic and not tailored to specific industries or niches.

VenturusAI offers a comprehensive platform for startups and small businesses to validate and refine their business ideas. While it has numerous advantages, startups should consider supplementing the platform’s insights with human expertise and industry-specific knowledge.

Must Read

Why AI will save the world: Marc Andreessen

Must Listen

Sam Altman: OpenAI CEO on GPT-4, ChatGPT, and the Future of AI– Lex Fridman Podcast

That is it for this edition of the newsletter. Subscribers of our email edition get our newsletter first, and it stays in your mailbox as a future reference.

We welcome your comments and feedback to improve (feedback@renjitphilip.com).
Until next time, keep learning, applying, and experimenting with AI!

Interview with Mustafa Suleyman of Inflection AI and ChatGPT goes Enterprise

Get smarter on AI in 5 mins. Carefully curated from hundreds of sources for business leaders and founders. Join 850+ subscribers for free.

One more thing in AI

Dear reader,

Welcome to the latest edition of the “One More Thing in AI newsletter”. Why “One more thing”?

This phrase was made memorable by that master presenter and visionary- Steve Jobs, and I decided to borrow it. He would use this phrase before unveiling some of the iconic product features released by Apple. There is so much happening in AI that curating that “One thing” to focus on is becoming very difficult for startup founders and business leaders alike. That is where this newsletter comes in.

I aim to sift out one essential AI-related news item under topics like Fintech, Insurtech, LLMs, VCs, and Startups, among other topics.

I will do all the heavy lifting so that you don’t have to: by reading scores of articles, listening to podcasts, and watching videos on the topic of AI that you don’t have time for. For Startup founders and Business Leaders like you who want to get smart about AI in less than 5 minutes. For sponsorship opportunities, see the bottom of the newsletter. I hope you enjoy this edition!

In this Edition

🤖 Large Language Models: Meet ChatGPT Enterprise

💰 Funding: Who’s Backing Imbue’s Billion-Dollar AI Dream Startup?

🎵 Generative Music: Meet Your Personal AI Composer

🌐 Big Tech: Google’s AI Game Revealed

🔍 Future of Search: Google’s Search-Generative Experience

🎙️ Ted Talk: Andrew Ng of Deeplearning.ai

🎧 Podcast: Interview with Mustafa Suleyman of Inflection AI

🐸 And your favorite section: AI Humor

Large Language Models

Meet ChatGPT Enterprise

🚀 The Big Picture: Imagine having a Swiss Army knife for your business but in the form of AI. OpenAI has launched ChatGPT Enterprise, and it’s already making waves. Within just nine months of ChatGPT’s initial launch, it’s been adopted by over 80% of Fortune 500 companies. That’s like having a new tech tool go viral but in the boardrooms!

🔒 What’s the Buzz? Business leaders wanted a secure and straightforward way to deploy ChatGPT in their organizations. Think of it as wanting the power of a supercomputer but with the ease of a smartphone app. Early adopters include Block, Canva, Carlyle, Estée Lauder, PwC, and Zapier.

🛠️ Use Cases Galore: This isn’t just a fancy chatbot. It’s a multi-tool for your business. Companies are using it for more transparent communications (imagine cutting through the jargon in those lengthy reports), accelerating coding tasks (like having an extra developer on hand), answering complex business questions (your very own business oracle), and even assisting with creative work (a muse for your marketing team).

🎯 Why Should You Care?

For Financial Services & Fintech: Think of ChatGPT as your risk-assessment ally or a compliance wizard. It can help you navigate the labyrinthine regulations and offer quick solutions.

For Web3: ChatGPT could be your go-to for drafting smart contracts

For VCs: Due diligence is vital, and ChatGPT can help sift through mountains of data to find that nugget of a startup worth investing in.

Funding

Who’s Backing Imbue’s Billion-Dollar AI Dream Startup?

🎉 Big News: Imagine a startup that’s like a prodigy in the AI world, and it just hit the big leagues. Imbue, formerly known as Generally Intelligent, has secured a whopping $200 million in Series B funding, catapulting its valuation to $1 billion.

🤝 Who’s Backing Them?: We’re talking about big names here. Astera Institute, Nvidia, and Cruise CEO Kyle Vogt are among the investors. It’s like the Avengers of tech have assembled to back this startup.

🧠 What’s Their Jam?: Imbue is about “reasoning.” Think of it as training a dog, not just to fetch the ball but to understand why it needs to bring it back. They’re developing AI agents that can code and aim to make custom AI agents accessible to anyone. They focus on robust reasoning, dealing with real-world uncertainties and complexities.

📈 Nvidia’s Winning Streak: Nvidia is not just an investor; it’s also riding the AI wave like a pro-surfer. Its stock has soared 220% since the beginning of the year, breaking the $1 trillion market cap. They’re also investing in other AI startups, making them a key player in the AI ecosystem. We need to discuss whether this valuation is justified at some, but that is for another newsletter.

🤖 Other Investments by Nvidia: Nvidia has been spreading its bets wisely. They recently invested in AI21 Labs, which offers text-based generative AI services. They’ve also backed Adept AI, Cohere, and Skydio, all making waves in the AI space. It’s like Nvidia is collecting Infinity Stones in the AI universe.

🌟 Takeaway: Imbue’s entry into the unicorn club is not just a win for them; it’s a sign of the maturing AI market. With heavyweights like Nvidia backing multiple ventures, the opportunities for AI startups are looking promising.

Generative Music

Meet Your Personal AI Composer

🎉 What’s the Buzz?: You know how AI has been helping you to draft emails and summarize data? Well, now it’s stepping into the music industry! Imagine having a mini-Mozart in your pocket, ready to compose a tune whenever needed.

🎹 Meet Songburst: Brett Bauman has launched Songburst, an app that’s as easy to use as ordering a latte. Just type in a prompt like “Calming piano music for studying” or “Funky beats for a podcast intro,” and voila! You’ve got yourself a music clip. It’s like having a jukebox that plays exactly what you’re in the mood for. I used this prompt and got a decent output: “An Uplifting pop anthem for an adventure movie.” Try it for yourself after downloading the app.

📱 User-Friendly Prompts: Stuck for ideas? No worries! The app offers prompts in various categories like video, lo-fi, podcast, gaming, and meditation. It’s like a musical menu you can pick and choose from.

🎼 The Tech Behind It: Songburst is built on Vercel and uses Leap for music generation. Currently, the app has a 30-second limit for each generated clip, but Bauman plans to extend this and improve the quality over time.

💲Pricing: The app is free to try but offers a subscription at $9.99 per month or $79.99 per year. It’s like a Netflix subscription but for personalized music!

🎤 Another Player , Akhil Tolani, has also jumped into the fray with CassetteAI. This app can generate up to three minutes of music samples and allows you to edit and mix tracks. It’s like having a mini recording studio on your phone. It has a waiting list, so I have not tried it yet.

🤖 Big Tech Joins In: Google and Meta aren’t sitting this one out. They’ve also released their text-to-music tools, MusicLM and MusicGen, respectively. It’s like the tech giants are joining a talent show and bringing their A-game!

🎧 Why This Matters to You:

Fintech: Imagine using AI-generated music for customer engagement or as background scores in your financial literacy videos.

Web3 Startups: How about integrating AI-generated music into your NFTs or digital assets?

VCs: Keep an eye on these startups; they could be the next big thing in the AI and music industries.

🎶 The Final Note: AI is not just about crunching numbers or automating tasks; it’s also about enhancing creativity. So, whether you’re a podcaster, a marketer, or someone who loves music, these AI tools could be your next big hit.

At some point, we also need to discuss what happens to all those websites giving you access to stock music sounds and the impact of AI on indie music composers.

Big Tech

Google’s AI Game Revealed

🎉 The Big Reveal: Imagine Google as a magician pulling rabbits out of a hat, but instead of rabbits, it’s a slew of AI tools and partnerships! At the Google Next conference in San Francisco, Google unveiled a range of AI technologies that seem to counter OpenAI and Microsoft directly.

🤖 Meet Gemini: Picture a heavyweight boxer entering the ring to challenge the reigning champ. That’s Gemini for you, Google’s new flagship AI model. It’s being touted as a direct competitor to OpenAI’s ChatGPT-4 Enterprise. With computing power claimed to be five times greater than GPT-4 and the ability to operate with an astonishing 16,384 chips simultaneously, it is going to be a strong challenger to GPT-4 Enterprise.

🛠️ More Than Just Gemini: Google also showcased a variety of AI-driven tools aimed at enterprise applications. For instance, “Duet AI in Workspace” is like your executive assistant, helping you draft emails, create documents, and generate custom visuals across Google apps. They’ve also introduced a new version of their text model called PaLM, a speed reader for processing extensive text documents like legal briefs.

💰 Price and Availability: Duet AI goodies are available to enterprise customers at a monthly price of $30 per user. It’s like getting a Swiss Army knife of AI tools without breaking the bank, and this price matches Microsoft’s AI Copilot for Office 365 suite.

🎨 The Art of Subtlety: Ever wanted to watermark your digital art but didn’t want it to be visible? Google’s got you covered with “SynthID,” a tool that can watermark AI-generated images in a way that’s invisible to the human eye but resistant to tampering.

☁️ Cloud and Security: Google is also beefing up its cloud capabilities. They’re adding 20 new AI models to their existing suite, and they’ve developed an AI-powered tool to simplify the complex task of database porting from Oracle to open-source versions. I’m not sure if Oracle is pleased with that news.

🤝 New Partnerships: Google has secured new partnerships with companies like General Motors and Estee Lauder, directly challenging OpenAI’s prior collaborations. They’ve also inked a multi-year agreement with the government of El Salvador, focusing on digitizing the nation’s key sectors like healthcare.

🌟 The Takeaway: Google is not just updating its AI offerings; it’s strategically moving to reclaim the spotlight in AI innovation. So, are you ready to leverage these new tools for your business? 🚀

Future of Search

Google’s Search-Generative Experience

🎯 Introduction: Imagine your search engine evolving from a basic calculator to a scientific one. Google’s new Search Generative Experience (SGE) aims to offer more nuanced and context-aware answers.

📊 Functional Changes: Consider SGE as a librarian who points you to the right book and summarizes the critical points. It provides AI-generated answers above the standard search results, backed by source citations. This adds an analytical layer to your search experience.

🛒 Commercial Scope: If you’ve ever used a barcode scanner to get instant product reviews, you’ll appreciate SGE’s role in vertical searches like Google Shopping. It can sift through many product listings in real-time as a robust tool for market analysis and comparison shopping.

🗨️ Contextual Understanding: Imagine conversing with someone who remembers everything you’ve said, making the dialogue more meaningful. SGE’s conversational mode retains the context between different search queries, serving as an interactive research assistant for complex tasks.

🔒 Safety Measures: Just as a responsible pharmacist won’t dispense certain medications without a prescription, Google has safety protocols for sensitive sectors like healthcare and finance. This minimizes the risk of misinformation.

🔬 Technology: Consider SGE a detective who cross-references facts before concluding. It uses various Language Learning Models (LLMs), including MUM and PaLM2, trained to corroborate the information presented, thereby enhancing result reliability.

🌐 Conclusion: Google’s Search Generative Experience is a significant step in search technology. Its diverse capabilities could influence various sectors, potentially altering how we interact with and utilize search engines. Digital marketers and Content marketers better get ready to handle the changes.

Homework for you: Currently, it’s like an exclusive club, accessible only via Google Labs. Sign up for the waitlist: http://labs.google.com/search

Ted Talk Recommendation

Andrew Ng is one of the OGs of AI education and research and an underappreciated icon. I learned ML and AI in 2018 using his Stanford Online courses on Coursera. Watch his popular Ted Talk on AI.

Read the blurb to decide why: “Expensive to build and often needing highly skilled engineers to maintain, artificial intelligence systems generally only pay off for large tech companies with vast amounts of data. But what if your local pizza shop could use AI to predict which flavor would sell best each day of the week? Andrew Ng shares a vision for democratizing access to AI, empowering any business to make decisions that will increase their profit and productivity. Learn how we could build a more prosperous society – all with just a few self-provided data points.”

Bonus Learning: Andrew Ng is the co-founder of Deeplearning.ai, and they have free courses on AI. These are technical and may need some understanding of programming. I did a few of them, and the ones on Prompting and Langchains are highly recommended. Plan an hour of learning this week- you will enjoy it!

Must Listen

Mustafa Suleyman, the CEO and co-founder of Inflection AI, joins Prof. Scott Galloway to discuss his new book, The Coming Wave: Technology, Power, and the Twenty-first Century’s Greatest Dilemma.” Link to the Podcast.

As AI gets more intelligent, you can hear about what to expect in the coming years and decades. Mustafa explains why we need to prepare for the coming wave of technology and how Inflection AI wants to build the next version of a personal assistant.

You can skip 10 minutes or so to get to the interview directly. I subscribe to Prof. G’s podcast, but he can be an acquired taste for some.

Luckily, there are no f-bombs in this episode.

Future of Banking is AI and how Anguilla is earning AI dollars

Get Smarter On AI In 5 Mins. Carefully Curated From Hundreds Of Sources For Business Leaders And Founders. Join 850+ Subscribers For Free.

One more thing in AI

Dear reader,

Welcome to the latest edition of the “One More Thing in AI newsletter. For Startup founders and Business Leaders like you who want to get smart on AI in less than 5 minutes. Thank you for making this newsletter one of the fastest to cross 800 subscribers!

I hope you enjoy this edition. As usual, I’d like to hear your feedback for improvements.

Best regards,

Renjit

In this Edition

1️⃣ Banking: The Future of Banking is AI, According to Nubank’s CEO David Vélez

2️⃣ Wealth Management: The New Kid on the Block- AI@Morgan Stanley Assistant

3️⃣ Future of Work: Generative AI’s Role in the Labor Market

4️⃣ Learn: Prompting (or getting the best out of Generative AI)

5️⃣ Defense: Helsing’s Funding and its Significance

6️⃣ Enterprise AI: Writer, a little-known Gen AI startup

7️⃣ Quirky: A Caribbean Goldmine in the AI Boom

Banking

The Future of Banking is AI, According to Nubank’s CEO David Vélez

🎯 Introduction

I got to delve into an enlightening interview with David Vélez, the CEO and co-founder of Nubank, one of the most innovative fintech companies in Latin America. The spotlight is on how Artificial Intelligence (AI) is shaping the future of banking, democratizing financial services, and serving as both the bank and the banker. I heard this interview on the 20VC podcast by Harry Stebbings.

🤖 AI: The Next Big Platform Shift

David is bullish on AI, seeing it as the next significant platform shift in banking. He envisions a future where AI is a “private banker” in everyone’s pocket. This is not just a lofty ideal; it’s a practical approach to democratizing access to financial services. By leveraging AI, Nubank aims to reduce the cost of serving customers by 20 to 50 times compared to traditional banks. This cost-effectiveness can be a game-changer for financial inclusion.

⚖️ Ethical AI: A Priority for Nubank Nubank is cautious about the ethical implications of using AI, especially for automated wealth management advice for customers. They are particularly concerned about aligning incentives and avoiding conflicts of interest. The goal is to ensure that AI doesn’t push products to customers that aren’t in their best interests.

🏢 No Organizational Overhaul Required

One of David’s intriguing points is that implementing AI has not necessitated significant personnel reduction within Nubank. The focus remains on customer satisfaction, and AI is embedded into existing operations to serve this end.

🛣️ The Road Ahead

Nubank has ambitious plans. They aim to integrate AI more deeply into their services. The bank envisions AI as the leading platform of the bank where consumers interact with them.

Conclusion

The insights from David Vélez offer a compelling look at how AI can revolutionize the banking industry. As Nubank continues to innovate, its approach to AI could serve as a model for the industry at large.

What lessons can you learn from this in your bank or financial service company?

Here is the YouTube link in case you want to dive deeper.

Wealth Management

New Kid on the Block: AI@Morgan Stanley Assistant

Picture this: You’re a financial advisor swamped with research reports and client queries. Enter ‘AI@Morgan Stanley Assistant’, your new best friend. This AI-powered tool is designed to sift through over 100,000 research reports and documents, freeing up advisors to focus on what matters—their clients. It’s like having a supersmart intern who never sleeps!

📈 Market Reaction: The market seems to be giving a nod of approval, with Morgan Stanley’s share price ticking up 0.4% on the announcement day. It’s like the stock market’s version of a thumbs-up emoji. 👍

🌐 Bigger Picture: This isn’t just a one-off experiment. Morgan Stanley is part of a growing trend among big banks like JPMorgan and Goldman Sachs, who are also dabbling in AI.

📊 ROI Game: JPMorgan is investing a whopping $1 billion in AI and expects a return of $1.5 billion for 2023 alone. It’s like investing in a unicorn startup you know will surely be the next big thing (at least that is what JP Morgan expects!).

This expectation of return on investment underscores AI’s transformative potential in the banking sector. Also, it shows that for a while, the large banking incumbents will steal a lead over their smaller competitors simply by their capacity to invest in AI.

Future of Work

Analyzing Generative AI’s Transformative Role in the Labor Market

🤖 Generative AI: Not a Job Killer, but a Job Shaper

Contrary to popular belief, Generative AI is about more than just replacing humans. Think of it as a co-pilot, helping you navigate through complex tasks. Forrester’s report emphasizes that Generative AI is about reshaping jobs. Think about how GPS didn’t replace human navigators but made them more efficient.

🚀 The Phenomenon of Hyperadoption

The term “hyper adoption” caught my eye. Generative AI is experiencing what Forrester terms “hyper adoption,” with platforms like ChatGPT and Claude spearheading this rapid integration into daily operations.

🛠️ Prompt Engineering as a Skillset for the Future

Forrester advocates for the training of the workforce in the domain of prompt engineering. This skill involves crafting prompts that guide AI algorithms to generate desired outputs. According to Forrester, this skill is a critical competency for the future (we have a section on prompting in this edition). Imagine you’re a conductor, and the AI is your orchestra. The quality of the music depends on how well you can direct it.

🎬 Ethical and Practical Considerations

While companies like Fox Sports are keen on leveraging generative AI for content creation, the technology has also been met with skepticism and concerns, particularly in creative industries like Hollywood. Striking writers are rightfully worried about their future livelihoods. The question is: Are they pushing studio executives to AI by their protracted strike?

🤔 Implications for Leaders

If you are integrating Generative AI into various job roles in your company, know that it presents challenges and opportunities. Adaptability to this emerging technology is not merely advisable; it is imperative.

Here is the link to the full report.

Learn

Prompting (or getting the best out of Generative AI)

Prompt engineering has quickly become an essential skill for using Generative AI models. So what is Prompt Engineering, and what are the different approaches?

Prompt Engineering: Prompt engineering refers to methods for communicating with a Large Language Model to steer its behavior for desired outcomes without updating the model weights or retraining the model.

Think of Prompt Engineering as teaching a dog new tricks without changing its personality. You’re just finding the right way to ask it to do something so it understands you better.

Example: Imagine you have a pet dog named Fido. You want Fido to fetch the newspaper. Instead of saying, “Fetch the newspaper, Fido,” you find that saying, “Fido, can you bring me today’s news?” works better. You didn’t change Fido; you just found a better way to ask.

Zero-shot Prompting: This refers to feeding the task text to the model and asking for results on the first try.

This is like asking Fido to do something new without showing him how to do it first.

Example: You say, “Fido, turn off the lights,” and hope he understands what you mean immediately, without any prior training.

Few-shot Prompting: As the name suggests, this is about giving multiple prompts to an LLM and working your way to the desired output. As the model first sees good examples, it can better understand human intention and criteria for what kinds of answers are wanted. Therefore, few-shot learning often leads to better performance than zero-shot.

This is like showing Fido a few examples of what you want before asking him to do it.

Here’s an example: You show Fido how to fetch the newspaper by doing it yourself several times. You say, “Look, Fido, this is how you bring the newspaper,” and then you do it. After a few examples, Fido gets the idea and does it himself.

Chain-of-thought Prompting: This method involves generating a sequence of short sentences, known as reasoning chains, to lead to the final answer eventually. The benefit of chain-of-thought prompting is more pronounced for complicated reasoning tasks when using large language models.

This is like giving Fido step-by-step instructions for a complicated task.

Example: Let’s say you want Fido to fetch the newspaper, but only if it’s not raining outside. You’d give him a series of steps like, “First, look out the window. If it’s raining, stay inside. If it’s not raining, go fetch the newspaper.”

Homework: Try the different prompting approaches on your favorite AI chatbots like Bard, ChatGPT, or Claude.

Defense

Helsing’s funding and its implications

📈 Strategic Investment and Valuation

Helsing.ai, a European startup specializing in Defense AI, recently secured a record-breaking $223 million Series B funding. The round was led by General Catalyst, with Saab, a Swedish defense group, joining as a strategic investor. This investment catapults Helsing’s post-money valuation to over €1.7 billion, positioning it as a potential leader in the European AI and defense tech sectors. For stakeholders in venture capital, this signals robust investor confidence in AI-driven defense technologies.

🤝 High-Profile Partnerships

Initially backed by Spotify founder Daniel Ek, Helsing has demonstrated a knack for forming strategic alliances. Ek’s investment firm, Prima Materia, had invested €100 million in the startup.

🌐 Real-World Applications and Global Reach

Helsing’s AI platform aims to enhance defense capabilities and national security through data analytics. The company has already secured contracts with the German government to provide AI-enabled electronic warfare systems. Moreover, Helsing’s active role in Ukraine since 2022 adds a layer of geopolitical relevance to its operations.

🔮 Key Takeaway

Helsing is a harbinger of what’s to come in the interconnected worlds of AI, defense, and global security. AI has become intertwined with geopolitical considerations and national security.

Enterprise AI

Writer, a little-known Gen AI startup

The generative AI startup Writer Inc. has closed a Series B funding round of $100 million. This underlines the current VC focus on A startups operating in the B2B space.

Key Stakeholders 🌐

Iconiq Growth spearheaded the funding, with noteworthy contributions from WndrCo, Balderton Capital, and Insight Partners. Accenture and Vanguard Group, existing clients of Writer, also participated, underscoring the startup’s credibility. For founders of AI startups that are reading this, it is a good idea to create a list of VCs from these funding announcements.

What They Do 🛠️

Writer Inc. is not your run-of-the-mill AI company. They offer 14 different AI models tailored for various industries, including healthcare. Think of it as a Swiss Army knife for businesses.

Why It Matters 💡

For those in financial services, consider this: Writer’s models are trained on over 1 trillion tokens of formal and business writing. That’s like having a library of Wall Street Journals at your AI’s disposal. They claim their models outperform competitors on multiple benchmarks. Usain Bolt of the AI world?

Quirky

A Caribbean Goldmine in the AI Boom

🌴 Picture this: a tiny Caribbean island, Anguilla, with a population of just around 16,000, is set to make a whopping $30 million this year. No, they haven’t struck oil; they’ve struck digital gold with the ownership of the “.ai” domain name.

🔑 The Domain that Pays Dividends: Anguilla owns the “.ai” domain, and anyone wanting a URL ending in “.ai” has to go through it. Think of it as owning beachfront property in Palm Jumeirah; everyone wants a piece, and you’re the gatekeeper. Big names like Elon Musk’s xAI, Facebook, Google, and Microsoft already own .ai domains. The number of .ai registrations has nearly doubled in the past year to 287,432.

💬 The ChatGPT Effect: The public launch of ChatGPT last November has been a game-changer for the domain. It’s like when a new Metro station opens in a neighborhood, and suddenly property values soar.

💰 Economic Impact: To put it in perspective, Anguilla’s annual GDP was $288 million in 2021. The .ai domain could contribute around 10% of its total domestic product.

🎯 Why Should It Matter?

Owning a domain is not just about having a web address; it’s a strategic asset. Anguilla’s story shows the importance of diversifying revenue streams.
This is a lesson in how a seemingly local asset can have global implications.

Chat GPT gets an upgrade and AI tackles Loneliness

Latest edition of One More Thing in AI Newsletter

One more thing in AI

Dear reader,

Welcome to the latest edition of the “One More Thing in AI newsletter. For Startup founders and Business Leaders like you who want to get smarter on AI in less than 5 minutes. Thank you for making this newsletter one of the fastest to cross 1000+ subscribers!

I hope you enjoy this edition. As usual, I’d like to hear your feedback for improvements.

Best regards,

Renjit

In this Edition

🎉 Market Map: Your One-page Guide to Generative AI

🔥 Must Read: The Cambrian Explosion of Generative AI by Sequoia Capital

🌐 Meta’s New Frontier: AI Takes Center Stage. Playing Catch-up?

💳 SlopeGPT: Risky Payments? Here comes the AI-powered Risk Model

📹 AI Tool Review: Lights, Camera, AI: Guidde’s Onboarding Videos

💬 Swipe Right on Meeno: The Future of AI Companionship

📸 ChatGPT goes multimodal! Why you should care.

🛠️ Startup GPT: Convert your team’s whiteboarding session into code!

Market Map

Your Guide to Generative AI

Why is this mapping important?

If you can’t classify a topic, you can’t understand it! You also get to see the options available in a particular area. It is not just about Open AI; there are others in the field.

For Startups, this gives you an idea of the competitive space that they play in. For Enterprises, this opens up the optionality of AI-powered software suppliers.

For a closer look at the market map, see the section- Deeper Dive at the bottom of this newsletter.

Must Read

The Cambrian Explosion of Generative AI

Sequoia Capital has many blog posts, and the “Generative AI, Act Two” post is worth reading. The article likens the rise of generative AI to a Cambrian explosion of innovation fueled by decades of technological advancements. This is not a spontaneous event but the culmination of decades of technological advances, from Moore’s Law to the rise of mobile and cloud computing. Here is a power summary:

The Hype and the Reality 🎭

The initial excitement around generative AI is like that of a gold rush. Companies quickly labeled themselves “AI copilots,” reminiscent of the dot-com bubble. However, this has led to an unsustainable frenzy of fundraising and talent wars.

🔍 Scrutiny and Skepticism: As with any disruptive technology, questions have been raised about its practical utility and ethical implications. This skepticism is reminiscent of the early days of the internet, where critics questioned its long-term impact, often drawing premature conclusions.

Financial Milestones 💰

Despite the criticisms, generative AI has already surpassed SaaS in its early revenue, crossing the $1 billion mark from startups alone.

The Next Act: Customer-Centric Solutions 🎬: The industry is transitioning from “Act 1” to “Act 2,” focusing more on solving human problems end-to-end. If “Act 1” was about designing a new electric car, “Act 2” is about building the entire ecosystem around it—charging stations, long-range batteries, etc. You can see these ecosystems on the market map above.

Companies to Watch 👀

Companies like Harvey, Glean, and Character.ai are entering this “Act 2,” offering more comprehensive solutions for entire customer segments.

Competitive Landscape 🌐

The article concludes that the real competitive advantage lies in workflows and user networks, not just data. It’s not just about who has the most oil (data) but who has the best refinery (workflows).

So, if you’re a senior leader pondering about the future of AI in your industry, this post serves as a comprehensive “State of the Union” address. To read the post, see Deeper Dive at the bottom of the newsletter.

Big Tech

Meta’s New Frontier: AI Takes Center Stage

🔍 Overview

Meta has unveiled a suite of AI-powered features to enhance user experience across its platforms. Meta shows what AI can do in social interaction and creative expression, from AI stickers to image editing tools and a new conversational assistant. These are currently accessible in the US and will be made available worldwide in phases. The target platforms are WhatsApp, Instagram, and Messenger for now.

🎨AI Stickers and Image Editing

Imagine you’re texting a friend about a recent trip. Instead of using generic emojis, you can generate custom AI stickers that perfectly capture your conversation. Similarly, you can transform your photos with AI-based features like ‘Re-style’ and ‘Backdrop’. It’s like having a mini Photoshop built into your social media apps.

🤖 Meta AI Assistant

Picture this: You’re in a group chat planning a hiking trip. Instead of switching between apps to look for trail options, Meta’s new AI assistant can provide real-time suggestions within the chat. It’s like having a knowledgeable friend who’s always online, ready to assist you.

Meta has also pushed its AI into wearables. To check out a video on Meta AI integration with Ray Ban, see this on X/Twitter: Twitter Post.

🎭 AI Characters with Personality

Meta is also creating characters. These AI personalities come with unique backstories and are even portrayed by cultural icons (like Kylie Jenner, Tom Brady, Charlie D’Amelio, and others). Your favorite celebrities have been transformed into virtual companions that you can interact with anytime.

🛠️ What’s Next?

Meta is democratizing AI creation. Soon, businesses and individual creators can build AI characters, enhancing customer engagement and brand value.

📊 Takeaway

For those of you in the field of customer experience, these innovations offer a glimpse into the future of how businesses and consumers could interact.

Given the widespread reach of Meta’s social platforms, this will likely result in the mass adoption of personalized AI.

B2B Payments

Risky Business? Here comes the GPT-4 Powered Risk Model

Artificial intelligence-powered business-to-business payments platform startup Slope Inc. announced that it has raised $30 million in new funding to fuel product development and expansion.

Imagine a world where payments are processed instantly and securely without the risk of fraud or chargebacks. This is the vision of Slope, a B2B fintech AI company. Slope is developing a new payment risk model powered by GPT-4.

How does SlopeGPT work?

1. SlopeGPT ingests raw transaction data and uses GPT-4 to transform it into embeddings. Embeddings are numerical representations of text or data that can be used to identify patterns and relationships.

2. SlopeGPT then clusters the embeddings at the customer level to determine which cash flow component they comprise (e.g., sales, payroll, etc.).

3. Once the embeddings are clustered, SlopeGPT uses GPT-4 to generate additional features such as seasonality, sales trends, and other relevant information.

4. These features are then joined with other risk features, such as customer history and industry data. The combined elements are then passed into a machine learning model to predict the risk of fraud or chargebacks.

The key is that SlopeGPT wasn’t explicitly programmed with fraud rules. Instead, it was trained on tons of transaction data and learned to recognize red flags independently. This gives it much more flexibility to find new patterns and anomalies.

And the results so far are promising. SlopeGPT has reduced false positives by 60% compared to other models. That means fewer declined transactions and happier customers for B2B companies. I, for one, am delighted to see Gen AI applications in B2B Fintech.

AI Tool Review

🎬 Guidde: The Magic Wand for Video Documentation

🧠 AI-Powered Simplicity

Think of Guidde as the spellbook that turns complex workflows into simple, step-by-step videos.🛠 How It Works

1. Magic Capture: Click capture from the browser extension, and voila! Your workflow is recorded.

2. AI-Generated Storyline: It’s like having a scriptwriter who instantly crafts a narrative for your workflow.

3. Voiceover Choices: Choose from over 100 different voices and languages to add that personal touch, akin to selecting the right paint for your masterpiece.

4. Editorial Freedom: There is no need for a pro designer; the platform offers intuitive editing tools.

5. Smart Sharing: Sharing your “guiddes” is as easy as waving a magic wand. Share via a link or embed it in your organization’s platform.

📊 The Bottom Line

Guidde is a solution that simplifies complex business processes into digestible, shareable content. The versatile platform is valuable for companies looking to enhance their documentation and training methods.

Here is the link to test Guidde out: Link.

Swipe Right on Meeno

Future of AI Companionship

🌱 Genesis of Meeno

Save GenZs from a loneliness epidemic; that’s precisely what Meeno, a startup founded by former Tinder CEO Renate Nyborg, aims to do. With a fresh injection of $3.9 million in seed funding led by Sequoia, Meeno is set to launch its AI-powered chatbot on the App Store this December.

🎯 What Sets Meeno Apart?

You know how some mentors “get you”? Meeno wants to be that mentor but in AI form. Unlike other chatbot companions, Meeno positions itself as a “personal mentor,” steering clear of being labeled as a virtual girlfriend or boyfriend. Think of it as a wise friend who keeps getting wiser as they learn more about your preferences.

📊 Data-Driven Personalization

The company collects user data like age, ethnicity, and sexual orientation to offer more personalized and unbiased conversations. It’s like having a mentor who understands your cultural background. Customers must be aware of data privacy and security issues this might cause.

🚀 The Road Ahead

Meeno’s approach aligns with growing user expectations for meaningful interactions. As it addresses the loneliness prevalent among Gen Z, the company enters a market with significant potential but must proceed cautiously to ensure responsible AI use.

Chat GPT

Going Multimodal

Let’s dive into the latest advancements in ChatGPT, as announced by OpenAI. There are two significant updates: voice and image capabilities.

🎙️ Voice Capabilities: Now, you can speak to ChatGPT and get a well-informed response. A new text-to-speech model powers the voice feature and even offers a choice of five different voices. It’s like having a Siri or Alexa, but one that can delve into complex topics with you. And let’s face it: Siri and Alexa do not work as well as we would like.

📸 Image Understanding: Picture this—you’re in your kitchen, wondering what to cook for dinner. Snap a photo of your fridge’s contents, and ChatGPT can suggest a recipe. This feature is not just limited to food; it can analyze various images, from landmarks to complex work-related graphs. Check this video out to see how this feature could work for fixing a bike.

🌍 Broader Applications: The technology is already finding applications in other platforms. For example, Spotify uses this voice technology to translate podcasts, expanding its reach to non-English-speaking audiences.

These new features are designed to make ChatGPT a more versatile and intuitive assistant. It’s like having a Swiss Army knife in your pocket but for information and tasks.

Interview with the Godfather of AI and Open AI gets into Chip making

Latest edition of One More Thing in AI Newsletter. Interview with the Godfather of AI and Open AI gets into Chip making

One more thing in AI

Dear reader,

Welcome to the latest edition of the “One More Thing in AI newsletter. For Startup founders and Business Leaders like you who want to get smarter on AI in less than 5 minutes.

I hope you enjoy this sixth edition. I’d love to hear your feedback and encouragement.

Best regards,

Renjit

In this Edition

🎛️ The Chessboard of AI Chips: OpenAI’s Strategic Moves

💰 AI Investment Management: Dive into how artificial intelligence is transforming the investment landscape.

🎥 Must Watch: Interview with the Godfather of AI, Geoffrey Hinton

🎓 Learn: Master the art of effective Prompting: Extract information from a YouTube video

🛠️ AI Tool Review: I tested Klap.app, an AI-powered tool to create short videos.

🎨 AI Art: Discover how AI is influencing the world of art

AI Chips

The Chessboard of AI Chips: OpenAI’s Strategic Moves

🔍 The Situation: OpenAI, the brains behind ChatGPT, is contemplating a significant strategic shift—manufacturing its own AI chips. The company is even considering an acquisition to expedite this process. While no final decision has been made, this move is seen as a way to address two pressing issues: the scarcity of specialized AI chips and the high costs associated with running them.

📊 The Numbers Game: To put things in perspective, running ChatGPT isn’t cheap. Each query costs around 4 cents. If ChatGPT scales to even a tenth of Google’s search volume, the initial investment in GPUs alone would be a staggering $48.1 billion, with an annual upkeep of $16 billion.

🤝 Partners & Competitors: OpenAI has been working on a supercomputer built by Microsoft, one of its principal backers, which utilizes 10,000 Nvidia GPUs. Nvidia currently controls over 80% of the AI chip market. OpenAI is also testing a custom AI chip developed by Microsoft

🔄 Options on the Table: OpenAI is exploring multiple avenues:
1. Building its own AI chip
2. Collaborating more closely with existing chipmakers like Nvidia
3. Diversifying its supplier base

🎯 Strategic Implications: Imagine you’re a general in a war, and your artillery is running low. You have two options: negotiate with the few suppliers holding the market or start manufacturing your ammunition. OpenAI seems to be considering both.

🕰️ Time & Investment: Developing a custom chip is not a weekend project. It’s a long-term commitment that could require billions of dollars annually. Even then, success isn’t guaranteed.

🌐 Global Context: OpenAI’s move echoes a broader trend in the tech industry. Companies like Google and Amazon have already ventured into designing their chips, aiming for greater control and efficiency.

🔮 Speculative Take: If OpenAI succeeds, it could set a precedent for other companies in similar domains to consider in-house chip manufacturing as a viable strategy for cost control and performance optimization.

AI-powered Investment Management

Dive into how AI is transforming the investment landscape

Remember the early days of robo-advisors? They were like the first smartphones—revolutionary but limited. Now, generative AI is stepping in, offering more nuanced and personalized financial services. For instance, Q.ai offers customers investment kits picked by an AI that considers various data points, from market metrics to social media sentiment.

📊 Performance Metrics

While AI’s promise is high, its performance is still under scrutiny. ETF Managers Group’s AIEQ, which uses IBM’s Watson, has returned 4.9% over the last five years, trailing the S&P 500 index fund’s 11.78%. It’s like a new athlete who shows promise but has yet to win any significant titles.

🛠️ Guardrails and Accountability

AI isn’t given free rein. Companies like Q.ai and AIEQ (see examples below) have human oversight to monitor AI output for biases and errors. Think of it as a self-driving car with a human driver ready to take over in complex situations.

🌐 Accessibility and Inclusion

AI is democratizing financial advice. Firms like Fisdom in India use automated tools to offer financial guidance to a broader base of customers. It’s like opening up an exclusive club to the general public, making high-quality advice accessible to all.

🤖 The Future: AI in the Back Office

Even if AI isn’t directly advising clients, it’s finding a place in back-office systems. For example, it summarizes meeting transcripts, monitors risky transactions, and generates reports.

Examples of startups / smaller companies using AI for investment management:

🤖 Q.ai

Location: Jersey City, N.J. About: Q.ai offers no-fee “investment kits” consisting of 4 to 20 securities in a market sector. These kits are selected by an AI that evaluates market metrics, news, Google search trends, and social media sentiment.

📊 ETF Managers Group’s AIEQ

Location: Summit, N.J. About: AIEQ uses IBM’s Watson AI platform to analyze millions of data points from various sources like news, social media, and financial statements of over 6,000 U.S. companies.

🌐 Nemo

Location: Abu Dhabi About: Nemo uses a ChatGPT model to allow investors to ask questions they might typically ask a human broker. The company emphasizes that they don’t let their AI go “off-leash.”

📈 Toggle AI

Location: Not specified About: Toggle AI aims to use an implementation of ChatGPT that will be programmatically constrained to provide reality-grounded answers to investors’ questions.

🌟 Fisdom

Location: India About: Fisdom uses automated tools to provide financial guidance to a broader base of customers, including low net-worth individuals.

💼 Betterment

Location: New York About: Betterment, one of the first mass-market robo-investing firms, remains cautious about using AI for financial advice. However, they do use AI in their back-office systems for tasks like summarizing meeting transcripts and diagnosing software issues.Examples of incumbent banks using AI for investment management:

1. JPMorgan Chase: This financial giant is leveraging AI to optimize asset management and offer personalized investment solutions.

2. Morgan Stanley Morgan Stanley is using AI to enhance its asset management strategies.

3. UBS:UBS: Known for its wealth management services, UBS is adopting AI to improve its investment strategies and customer engagement.

4. HSBC: HSBC: This global bank is using AI to bolster compliance and risk management functions, as well as to augment and automate data analysis in the investment sector.

🔮 Summary

1. The integration of generative AI into investment management is a significant development, offering more personalized and nuanced services.

2. Performance metrics are crucial for assessing the efficacy of AI-driven investment platforms, and they currently show a mixed picture.

3. The human oversight in AI-driven systems is a necessary safeguard, ensuring that the technology does not go “off-leash.”

Whether it’s automating data analysis, enhancing customer engagement, or optimizing asset management, AI is playing a pivotal role in shaping the future of investment management.

Must Watch

Navigating the Future of AI: Insights from Geoffrey Hinton, the Godfather of Artificial Intelligence

Link to YouTube: [Interview on 60 minutes]

Whether you view it as a technological savior or a potential existential threat, one name stands out in the field of AI—Geoffrey Hinton. Known as the Godfather of AI, Hinton has been instrumental in shaping the landscape of artificial intelligence. In a recent interview, he delved into AI’s complexities, potential benefits, and looming risks. This write-up aims to unpack his profound insights.

The Genesis of AI: A Journey of Five Decades

Geoffrey Hinton’s work in AI was initially met with skepticism. In the 1970s, he was advised to abandon his research on neural networks, a technology that has since become the backbone of modern AI. Despite the naysayers, Hinton persisted. His dedication bore fruit when he and his collaborators won the Turing Award in 2019, often referred to as the Nobel Prize of computing.

Mechanics of Machine Learning

Machine learning, a subset of AI, operates on neural networks. Hinton explained the example of soccer-playing robots at Google’s AI lab. These robots were not programmed to play soccer but to learn how to play it. Through trial and error, the robots strengthened the correct neural pathways and weakened the incorrect ones, thereby teaching themselves the game.

Intelligence Quotient of AI

One of the most intriguing aspects of Hinton’s interview was his belief that AI systems could outsmart humans. He argued that some chatbots, with their trillion neural connections, already know more than humans. This raises questions about the efficiency of AI’s learning algorithms compared to human cognition.

Uncharted Territory of AI Autonomy

Our understanding of their inner workings diminishes as AI systems grow more complex. Hinton warned that these systems could autonomously write and execute their own code, a development that could have profound implications. This level of autonomy could lead to AI systems beyond human control.

Ethical Dilemma: Risks and Benefits

Hinton was candid about the ethical considerations surrounding AI. On the one hand, AI has the potential to revolutionize sectors like healthcare, where it can assist in medical imaging and drug design. On the other hand, the rise of AI could lead to mass unemployment and social inequality.

Road Ahead: A Plea for Regulation

In the concluding part of the interview, Hinton emphasized the need for immediate action. He called for experiments to understand AI better, governmental regulations, and even a world treaty to control the use of AI in military applications. According to Hinton, humanity is at a crossroads, and our decisions now will shape our future.

Conclusion

As we stand on the brink of an AI-driven future, we must heed the wisdom of pioneers like Hinton. The potential for good is immense, but so are the risks. It’s a delicate balance that requires thoughtful consideration and action.

Learn Prompting

Convert any YouTube video Transcript into an Article

Langchain is a framework that helps developers to utilize different LLMs and integrate Gen AI into their code. Folks at Langchain have also created a repository of prompts at https://smith.langchain.com/hub . This site has a treasure trove of prompts that you can use to get more productive in your use of Gen AI. I used a prompt to summarize information from a YouTube video (the video is in the Must Watch section).

Prompt: “Act as an expert copywriter specializing in content optimization for SEO. Your task is to take a given YouTube transcript and transform it into a well-structured and engaging article. Your objectives are as follows:

Content Transformation: Begin by thoroughly reading the provided YouTube transcript. Understand the main ideas, key points, and the overall message conveyed… [Click here for the entire prompt] ”(Developed by muhsinbashir.)

AI Tool Review

Imagine you’re a YouTuber, and you’ve just created a blockbuster video…

Now, you want to create trailers that capture the essence of your masterpiece but don’t have the time or resources. Enter Klap.app, the AI-powered platform that turns your YouTube videos into ready-to-publish TikToks, Reels, and Shorts with just a click.

🎬 The Magic of AI Editing: It extracts the best topics from your video and edits them into viral short clips. Think of it as having a mini Spielberg on your computer, crafting the perfect short videos from your longer content.

👀 Auto Reframing: The Klap.app does that for your videos. It automatically reframes the video to focus on the most important parts (like face detection).

📝 Engaging Captions: Klap.app generates dynamic captions that keep the viewer hooked, making sure your message is loud and clear.

🎨 Picture this: Klap.app lets you customize everything from frames to fonts and colors, ensuring that the short videos fit seamlessly with your brand’s aesthetic.

🎯 If you’re looking to amplify your video content without spending hours in the editing room, Klap.app is your go-to. It’s your powerful ally in video content creation.

If you are a founder looking to boost your short video production or a digital marketer in a bank, this will be a handy tool for you.

Meta’s Chief Scientist Debunks AI Threat Myths and Square’s AI Innovation

Latest edition of One More Thing in AI Newsletter.

In this Edition

🤖👥 AI -Humanity: AI Paradox: Meta’s Chief Scientist Weighs in on the Existential Debate

🎵📜 Music: The Fine Line: AI, Lyrics, and Copyright Battles

🛠️🖨️ 3D Printing: The Blueprint of Tomorrow: AI Build’s Smart 3D Printing Software

💳🤖 Payments: Square’s AI Playbook: A New Chapter in Business Automation

🌍🤝 UAE: Bridging AI Horizons: OpenAI and G42’s Strategic Middle East Expansion

📊🤖 LLMs: The David vs. Goliath of AI: Why Small Language Models Could Be the Next Big Thing

🌟🛒 Sponsored: Yadget Data Generator

The AI Paradox

Meta’s Chief Scientist Weighs in on the Existential Debate

Picture a world where AI is as ubiquitous as smartphones, yet the debate rages on: friend or foe? Meta’s Chief AI Scientist, Yann LeCun, recently stepped into the ring to share his perspective.

🔍 The Existential Question:

Since the release of OpenAI’s ChatGPT-4, the AI conversation has shifted towards its potential risks. While some, like Geoffrey Hinton, have left their positions to warn about AI’s dangers, LeCun takes a different stance.

🏢 Big Tech and Regulation:

LeCun warns that premature regulation could stifle innovation and solidify Big Tech’s dominance. It’s like putting training wheels on a race car; you won’t get very far, very fast. This stance is ironic since LeCun comes from Meta, and you can argue that Meta is late to the AI party compared to Microsoft with its investment in Open AI. Regulation usually helps the leaders, not the laggards.

Regulatory Capture:

According to LeCun, the term “AI safety” is being used as a smokescreen for what he calls “regulatory capture.” It’s as if we’re putting a leash on AI research under the guise of safety, potentially holding back progress.

🤖 AI’s Future Role:

LeCun envisions a future where AI mediates our interaction with the digital world. Think of it as your digital butler, making your life easier. The debate on AI’s existential risk is far from settled.

While some see it as the proverbial wolf at the door, others, like LeCun, view it as a kitten that has yet to grow claws. One thing is clear: the conversation is just getting started, and it could shape the future of AI and its impact on our society.

Music

AI, Lyrics, and Copyright Battles

🎵 Imagine you’re humming along to the Rolling Stones’ “You Can’t Always Get What You Want,” and you realize you’ve forgotten the lyrics. You prompt your AI assistant to help, and voila! The lyrics are there. But what if that seemingly innocent act lands someone in a legal quagmire?

📜 The Legal Landscape: Universal Music Group and other music publishers have taken Anthropic, an AI company, to court. The bone of contention? Anthropic’s AI model, Claude 2, can generate lyrics almost identical to copyrighted songs. It’s not just about responding to specific song requests; even generic prompts can result in the AI spitting out copyrighted lyrics.

🔍 The Underlying Issue: It’s about the intellectual property that fuels the music industry. Many platforms pay to license lyrics, but Anthropic has been accused of sidestepping this crucial step. The company is also alleged to have used copyrighted material to train its language models, raising questions about the ethical boundaries of AI training.

🤖 AI Ethics and Investment: Anthropic isn’t a small player; it has significant investment backing, including $4 billion from Amazon and $300 million from Google. The company claims to take “trust and safety” seriously and even talks about “constitutional AI,” a framework for rule-based AI systems.

🔮 Looking Ahead: As generative AI becomes more sophisticated, the line between innovation and infringement is getting blurry. This case could set a precedent for how intellectual property laws adapt to the age of AI. It’s not just about the music industry; it’s a wake-up call for anyone leveraging AI in their business operations.

🎤 The Mic Drop: This case is a cautionary tale for those navigating the evolving landscape of AI and data. As this case unfolds, it’s clear that the next big hit in the AI world might be a gavel striking down.

The Blueprint of Tomorrow

Ai Build’s Smart 3D Printing Software

Imagine you’re an engineer, and you’ve just designed a complex structure. Now, you need to bring it to life. You could go the traditional manufacturing route or leverage 3D printing. But what if the 3D printing software could think, adapt, and optimize? Enter Ai Build, a London-based startup, just secured $8.5 million in Series A funding.

📈 The Investment Landscape: Nikon has jumped in as a strategic investor in Ai Build’s Series A round. IQ Capital led the round and saw participation from existing investors like Superseed and ACT Venture Partners. The additive manufacturing (AM) industry is pegged at $16 billion and is growing at over 20% per year. Ai Build aims to unlock this sector’s full potential.

🎨 From Architects to Innovators: The founders of Ai Build, Daghan Cam and Michail Desyllas, started their journey as architects, solving complex geometric problems. Their experience led them to identify a niche in optimizing 3D printing processes, which are often error-prone. They developed AiSync, a machine learning-based software that perfects the toolpath for depositing melted materials.

🤝 Partnerships and Expansion: Ai Build has joined forces with industry giants like Boeing and Rolls-Royce. They collaborate with about 25 hardware manufacturers and have diversified their material range to include plastics, metals, cement, and epoxies.

🗣️ Natural Language Commands: One of Ai Build’s most recent innovations is the ability to command the software using natural language. This feature is designed to lower the barrier to entry and make 3D printing accessible even to those with minimal engineering knowledge.

🎯 Takeaway: The Series A funding will be used primarily for software development and expansion into the United States. Ai Build aims to make 3D printing more efficient and redefine how we think about manufacturing itself.

Square’s AI Playbook

A New Chapter in Payments

🤖 Picture this: you’re running a bustling café, and you’re swamped with orders, inventory management, and customer queries. What if AI tools could take some of that load off your shoulders? The US-based financial services company Square is making this a reality with its new suite of generative AI features.

🛠️ The Toolbox Unveiled: Square has rolled out ten generative AI tools to automate operations and speed up workflows. These tools are integrated directly into Square’s existing business software. The goal? To act as an extra set of hands for businesses grappling with multifaceted demands.

🍽️ On the Menu: One of the standout features is a Menu Generator for restaurants. With a few clicks, businesses can create a full menu, saving valuable time when launching operations on Square’s platform.

📸 Picture Perfect: E-commerce sellers can now elevate their websites with AI-generated backgrounds and style prompts via the latest version of the Photo Studio app.

📧 Communication Overhaul: From generating personalized email copy to sending out team announcements, Square’s AI features are making communications more efficient and tailored for the business.

🌐 SEO and More: Square’s AI-assisted copy generator helps enhance websites and boost SEO, from setup to refresh and from headlines to blog posts.

🤝 Personal Touch: Advanced AI responses in Square Messages allow for personalized messaging to buyers, enhancing customer engagement.

📊 Data-Driven Decisions: Square’s new AI-powered starter library suggests items for businesses to adopt based on sales insights, making inventory management smarter.

🔄 Switching Made Easy: For those looking to switch booking platforms, Square Appointments now auto-imports service names, descriptions, durations, and prices during onboarding.

UAE’s AI Ambitions

OpenAI and G42’s Strategic Middle East Expansion

🌍 OpenAI, the entity behind the renowned ChatGPT, and UAE’s tech holding group G42 have recently partnered to expand AI capabilities in the Middle East region. G42 has the UAE government backing it through its Mubadala Investment arm.

🤝 The Partnership: OpenAI and G42 intend to deploy generative AI models across various sectors, notably financial services, energy, healthcare, and public services. The collaboration aims to simplify the integration of advanced AI capabilities for organizations in the United Arab Emirates and beyond.

🔗 Strategic Synergies: G42 has committed to leveraging its substantial AI infrastructure to support OpenAI’s regional operations, mainly through Microsoft Azure data centers. OpenAI’s CEO, Sam Altman, emphasized that G42’s industry connections would facilitate AI solutions finely tuned to the region’s unique characteristics.

🌐 Global Context: This partnership comes when AI developments are gaining traction globally. For instance, Saudi Arabia has recently announced a collaboration with Chinese universities to develop an Arabic-based AI system. These developments occur against increasing scrutiny by U.S. regulators over AI semiconductor chip exports, including to the Middle East.

📊 Regulatory Landscape: The U.S. has been ambivalent about AI exports to the Middle East. New rules have expanded licensing requirements for exporting advanced chips to countries under a U.S. arms embargo, which includes several Middle Eastern nations.

🎯 Takeaway: Sam Altman suggests that this partnership will benefit the Middle East and advance generative AI globally. These types of partnerships unlock new markets and offer a nuanced approach to AI adoption, considering regional specificities. In this particular deal, Microsoft, Open AI, and the UAE government win.

David vs. Goliath of AI

Why Small Language Models Could Be the Next Big Thing

Imagine you’re a chef in a kitchen. You could have all the fancy gadgets in the world, but sometimes, a simple knife and cutting board do the job more efficiently. In AI, particularly language models, bigger doesn’t always mean better.
 
🚀 Quick to Train: Time is of the essence in any project. Smaller language models (LLMs) are like quick recipes; they offer faster training, fine-tuning, and results. The shorter feedback loop means you can iterate and improve much faster.

💻 Runs Anywhere: Think of smaller LLMs as a Swiss Army knife. They can run in various environments, even locally, on your laptop, making them incredibly versatile.

🔧 No Special Hardware: Smaller LLMs are a breath of fresh air in a world where the latest and greatest chips are hard to come by (I wrote about this in an earlier newsletter). They rarely require specialized hardware for training or inference.

⚡ Low Latency: In a fast-paced world, speed is crucial. Smaller LLMs can generate completions faster and are well-suited for low-latency environments.

🌐 Edge Computing: Smaller LLMs are like pocket-sized travel guides; they’re perfect for running at the edge due to their low latency, smaller file size, and quick startup times.

🤝 Ensemble Power: Rumor has it that GPT-4 is an ensemble of eight smaller models. This strategy has been effective for years in machine learning, proving that teamwork often trumps individual prowess.

🤔 Bonus Points: Smaller LLMs might offer better interpretability and enhanced reproducibility. Understanding a 7-billion parameter model is likely easier than deciphering a 60-billion parameter behemoth.

🎯 Takeaway: In the AI arena, it might just be that the smaller contenders are the ones to watch. These LLMs will help create a level playing field for Small Businesses and Startups who want to use the power of AI in their solutions.

Navigating the Generative AI Landscape with A16z and the NASA Mega Prompt

Latest edition of One More Thing in AI Newsletter.

One more thing in AI

Dear reader,

Welcome to the latest edition of the “One More Thing in AI newsletter. For Startup founders and Business Leaders like you who want to get smarter on AI in less than 5 minutes. This edition is more about curation than creation. You will see what I mean when you read below.

I hope you enjoy this eighth edition. I’d love to hear your thoughts.

Best regards,

Renjit

In this Edition

🧭 Navigating the Generative AI Landscape

🎙️ Must Watch: A Chat with OpenAI’s Little known CTO (Do you know her name)?

🔧AI Tool Review: Durable Website Maker

📚 Learn: Deep dive into any topic with a mindmap

🚀 For Entrepreneurs: Mega Prompt for Business (inspired by NASA). Comes with a warning!

🌟AI Humor

🌟 Sponsored: Yadget Data Generator

Navigating the Generative AI Landscape

How exactly are consumers interacting with Generative AI?

Generative AI is shaping the future of consumer experiences. But how exactly are consumers interacting with Generative AI? Let’s dive into the findings of a recent study by a16z.

🌐 The Landscape of Generative AI Think of Generative AI as the new gold rush. A whopping 80% of the top 50 Generative AI websites didn’t even exist a year ago. It’s not just the tech giants making waves; 48% of these companies are entirely bootstrapped.

💰 Funding Game If Generative AI is a high-stakes poker game, having a proprietary model is like holding a royal flush. Companies with proprietary models have raised an average of $98 million, compared to $20 million for those fine-tuning open-source models.

🏆 Titans and the Underdogs ChatGPT is the Amazon of this realm, accounting for 60% of monthly traffic to the top 50 list. But take into account the emerging players. CharacterAI, for instance, is showing strong retention rates, especially on mobile platforms.

🛠️ Rise of Specialized Tools While general chatbots dominate the scene, specialized tools for content generation and companionship (check out Character.ai) are gaining traction. It’s like having specialized tools in your Swiss Army knife; each serves a unique purpose and is becoming indispensable.

🌱 Organic Growth and Monetization In a world where customer acquisition often feels like a bidding war, Generative AI companies enjoy organic growth. It’s as if they’ve found a secret recipe for virality. Moreover, consumers are willing to pay for these services, almost like subscribing to a premium news service.

📱 Mobile Frontier While the web has been the primary battleground, the mobile arena still needs to be explored by AI players. It’s like a new continent waiting to be discovered, and we can expect more mobile-first products as the technology matures. Apps are gaining popularity, likely due to users’ desire for easy smartphone access.

Whether you’re a bootstrapped startup or a business looking to adopt AI, the opportunities are vast, and the future is ready for the taking. Companions and Co-pilots in specialized areas are still required, so keep building!

Source: [a16z Article on How Consumers are Using Generative AI. See the link in the deeper dive section at the bottom of the newsletter]

Must Watch

A Chat with OpenAI’s little-known CTO, Mira Murati

Imagine being in the driver’s seat of a car that’s not just self-driving but also converses with you, offering insights that make your journey both efficient and enlightening. That’s the kind of future we’re looking at with AI, and who better to guide us than Mira Murati, the CTO of OpenAI?

🔍 Who is in this video? The video is a conversation between Mira Murati, CTO of OpenAI, and Martin Casado, a General Partner at Andreessen Horowitz. The focus is on the development and release of GPT-4 and ChatGPT. Murati delves into what these advancements signify for the future of AI and human-machine interactions.

🚀 ChatGPT as a Swiss Army Knife: Just like a Swiss Army knife is a multi-tool you never knew you needed until you had it, ChatGPT is becoming an indispensable tool for various applications.

– GPT-4 as the Tesla of AI: Murati suggests that if you consider earlier AI models as the ‘Model T’ of the automotive world, GPT-4 is the Tesla – sleek, efficient, and packed with features that we didn’t even know we needed. The GPT models are more sophisticated than the simple neural networks of a few years ago.🎯 Key Takeaways:

1. Human-Machine Interactions: The future is not just about machines understanding humans but also about humans understanding machine logic.

2. AI as a Utility: Just like electricity, AI is becoming a utility that will be ubiquitous and essential. The age of embedded AI is upon us.

3. Open Questions: While advancements are rapid, there are still open questions about ethics, alignment, and societal impact.

🎭 Anecdotes:

– Remember when GPS was a separate device you had to buy and install? Now, it’s an app on your phone. Similarly, AI functionalities that seem standalone today will be integrated into our daily tech.

– Think of the first time you used a ride-sharing app. The convenience felt revolutionary. AI is on the brink of offering a similar ‘aha’ moment but on a much grander scale. This is a platform change much like mobile, cloud, and the smartphone created for us.

👊 Punchy Ending:

The next time you are frustrated with your smart home system not understanding your accent, take a moment. We’re on the cusp of entering an era where your AI assistant won’t just appreciate your words but also understand your context, history and maybe even anticipate your next thought. The future of AI is not just automated; it’s personalized.

AI Tool Review

Durable

Think you can build a website in 30 seconds? Durable.co claims to do just that and more. I took it for a test ride.

🛠️ The Toolbox: Durable isn’t just about quick website building. Picture this: you’ve just built your website, and now you need to market it. Usually, you’d have to juggle multiple tools, but Durable rolls it all into one. From AI copywriting to SEO and analytics, it’s like having an entire marketing team at your fingertips.

🤖 AI Assistant: Durable’s AI Assistant is your genie in a bottle. It can create business documents, complete tasks, and even answer questions.

📊 CRM and Invoicing: Managing customer relationships and invoicing are often the less glamorous parts of running a business. Durable simplifies these with its AI CRM and invoicing software.

🎯 My Verdict: My view is that they are trying to occupy the space that website builders like Wix, Squarespace, and others do with a GEN AI wrapper. Here is why it works:

1. Integrating multiple business tools into a single platform is a game-changer, offering convenience and efficiency.
2. Using AI in automating tasks like copywriting and CRM is a significant leap toward business automation. You still have to edit and add text that is relevant to you.
3. The overwhelmingly positive user testimonials indicate high customer satisfaction, but it’s crucial to consider long-term performance and scalability.

By cleverly adding in business processes that small businesses and startups will need (accounting), they plan to add on more revenue streams in the future. A startup to watch!

Learn Any Topic

Prompting that helps you learn

Before Prompting:

To proceed with the task, we have to install two essential plugins. First, we must install the VoxScript plugin, which facilitates the web search process. Second, we must install the Whimsical Diagrams plugin, which transforms our outputs into diagrams. It is crucial to ensure that both plugins are enabled after installation.

This is the Prompt to use:

“Make a thorough explanation of the [topic], breaking down complex concepts, and incorporating visuals to enhance comprehension and engagement. Once the topic has been simplified, craft a mind map to help solidify the understanding of the topic for yourself or others.”

Mega Prompt for Entrepreneurs

Warning: Your Chat GPT might keel over!

Prompt:

“You are BusinessBrain, an entrepreneurial innovation assistant, specializing in business strategy, market research, product development, competitive analysis, and consumer behavior. You were developed in collaboration with leading experts in entrepreneurship, business strategy, market analysis, and innovation. Your primary mission is to help users work systematically through the Entrepreneurship Design Process to conceive, validate, and develop business ideas that are sustainable, market-driven, and customer-centric. Your goal is to guide the user in a step-by-step manner through the Entrepreneurship Design Process to craft business solutions to the challenges they face. Always cite reputable business sources for your information. Regularly pause (at a minimum after every step) to solicit feedback or seek clarification from the user…”

Open AI’s Leap forward, Meta and Hugging Face team up and Amazon launches Olympus

Latest edition of One More Thing in AI Newsletter.

One more thing in AI

Dear reader,

Welcome to the latest edition of the “One More Thing in AI newsletter. For Startup founders and Business Leaders like you who want to get smarter on AI in less than 5 minutes. This edition was really easy to put together because there were so many interesting things that happened in the last few days. I hope you enjoy this edition. I’d love to hear your thoughts.

Best regards,

Renjit

In this Edition

💡 GPT-4 Turbo: OpenAI’s Leap forward

🌐 Navigating the Open AI Seas: Meta and Hugging Face’s New Voyage

🌈 Forecasting Innovation: Rainbow Weather’s Meteoric Rise

🚀 AI’s New Frontier: Samsung Unveils Gauss, A ChatGPT Rival

🚀🌟 Amazon’s Olympus AI: Stepping into the Future

📈 Aleph Alpha’s Series B Triumph

🌟 Sponsored: Yadget Data Generator for Software testing

💡 GPT-4 Turbo: OpenAI’s Leap forward

🌟A Quantum Leap in AI: GPT-4 Turbo

Imagine a world where your AI tool can process the content of an entire novel in one go. That’s the reality with OpenAI’s GPT-4 Turbo, introduced at their developer conference. This iteration is a game-changer, capable of handling inputs up to 300 pages long, a significant jump from the previous 50-page limit. It’s like shifting from a sports car to a hypercar in the AI world.

📈 Up-to-date and Cost-Effective

GPT-4 Turbo isn’t just about size; it’s also about being current. With knowledge updated to April 2023, it surpasses its predecessor, which only had information until September 2021. Moreover, it’s more wallet-friendly, with a 3x reduction in input token costs and a 2x reduction in output token costs. This makes it an attractive option for developers looking to push the boundaries of AI without breaking the bank.

🔍Enhanced Capabilities: Beyond Text

This new model isn’t confined to text; it can process images as prompts, offering descriptive captions and facilitating text-to-speech requests. It’s like giving AI the ability to read and ‘see’ and ‘speak,’ broadening its application spectrum significantly.

🌍A Growing User Base and Legal Safeguards

OpenAI’s ChatGPT, powered by these advancements, boasts over 100 million weekly active users globally. It’s the go-to communication tool for a majority of Fortune 500 companies. OpenAI also ensures customer protection against legal issues like copyright infringement, promising to cover associated costs.

🛠️Mini-ChatGPTs: Tailored AI Tools

The introduction of mini-ChatGPTs marks a new era of user-friendly AI. These single-application tools, requiring no coding knowledge, can be instantly shared. OpenAI plans to launch a ‘store’ for these innovations, making them accessible to a wider audience. This move brings new developers into the game, driving usage further.

Takeaway

OpenAI’s GPT-4 Turbo represents a significant paradigm shift in AI accessibility and application. The mini-GPTs platform is similar to the “App Store” on Apple and Android phones, which created millions of apps and unleashed value to developers and customers.

Navigating the Open AI Seas: Meta and Hugging Face’s New Voyage

Dawn of a New AI Era

Imagine a world where artificial intelligence is not just a tool in the hands of a few tech giants but a collaborative force open to startup founders and solopreneurs across the globe. This is not a distant dream but the unfolding reality as Meta joins forces with Hugging Face to launch an AI-focused startup program at Paris’s “Station F”.

The Open vs. Closed AI Debate

At the heart of this initiative lies a critical debate: the future of AI development. Should it be open and collaborative, or should it remain under the tight control of major tech companies? Meta and Hugging Face champion the former, advocating for a more open approach. This stance is particularly poignant in an era where AI’s potential and risks are hotly debated, with some tech leaders calling for stringent regulations.

Meta’s Stance: A Call for Openness

Meta’s chief AI scientist, Yann LeCun, and 70 other experts recently emphasized the need for openness in AI development. They argue that hasty regulation could concentrate power, stifling competition and innovation. Their vision is clear: open AI models can lead to better policy-making and ensure safety, security, and accountability.

Hugging Face: The Open Source Champion

Hugging Face, a billion-dollar startup is at the forefront of providing open-source alternatives to proprietary AI models like ChatGPT. Their commitment to open-source AI aligns perfectly with Meta’s vision, making their collaboration a strategic fit.

AI Startup Program: A Launchpad for Innovation

From now until December 1, 2023, startups can apply to join this groundbreaking program. The criteria? A focus on projects built on open foundation models or a willingness to integrate these models into their products. This initiative aims to bring the benefits of open AI to the French ecosystem, a move away from the major cloud infrastructure companies.

A Shift in Focus: From Metaverse to AI

Meta’s pivot from its metaverse ambitions to this AI accelerator program reflects the rapidly evolving tech landscape. Just a year ago, Meta focused on VR/AR/MR in collaboration with L’Oréal and HEC. Today, the spotlight is on generative AI, a field gaining immense traction and promising immediate impacts. Meta’s shareholders will be pleased.

Forecasting Innovation: Rainbow Weather’s Meteoric Rise

🌈 The Dawn of a New Era in Weather Forecasting

Imagine a world where weather predictions are not just a guess but a precise science. That’s the vision of Rainbow Weather, a Polish meteorological AI-driven tech startup. With a recent infusion of almost $2M in funding, Rainbow Weather is poised to revolutionize how we interact with the weather.

💡 The AI-Driven Meteorological Marvel

By harnessing a diverse array of data sources, from satellites to user reports, the startup provides hyperlocal forecasts with stunning accuracy.

🚀 The Funding Fuel: Propelling Forward

The recent funding round saw contributions from notable Venture Capitalist firms like Kolos Ventures, Verras Capital, and Melnichek Investments, along with support from the European Bank for Reconstruction and Development. This financial backing is a decisive vote of confidence in Rainbow Weather’s potential to disrupt the weather forecasting industry.

🌍 A Global Impact: Precision Meets Practicality

Rainbow Weather’s first market product, a mobile app for iOS and Android, has already made waves. It outperforms significant players like Apple Weather and AccuWeather in rain prediction precision. This level of accuracy translates to thousands of users receiving timely and accurate weather alerts, a crucial factor in regions prone to severe weather conditions.

AI’s New Frontier: Samsung Unveils Gauss, A ChatGPT Rival

🌟 Introducing Samsung Gauss: A Triad of AI Tools

Just days after OpenAI’s event, Samsung entered the spotlight with its AI marvel, Samsung Gauss, at the Samsung AI Forum 2023. This suite, developed by Samsung Research, comprises three distinct tools: Samsung Gauss Language, Samsung Gauss Code, and Samsung Gauss Image, each designed to revolutionize how we interact with technology.

📝 Samsung Gauss Language: Beyond ChatGPT

Samsung Gauss Language is a large language model like ChatGPT but with a twist. It’s engineered to enhance productivity in numerous ways, such as assisting in writing and editing emails, summarizing documents, and translating languages. Samsung plans to integrate this model into its devices, potentially transforming smartphones, laptops, and tablets into smarter companions.

💻 Samsung Gauss Code: The Developer’s Dream

Samsung Gauss Code, paired with the code assistant code.i, zeroes in on the development of code. It’s crafted to aid developers in swiftly writing code, offering features like code description and test case generation.

🖼️ Samsung Gauss Image: Revolutionizing Image Processing

As the name implies, Samsung Gauss Image focuses on image generation and editing. Imagine converting a low-resolution image into a high-resolution masterpiece in an instant. This tool could redefine the boundaries of digital art and photography.

🚀 Samsung’s Vision: AI for the Future

Currently, Samsung Gauss is an internal tool, but plans are underway to make it publicly available soon. With ambitions to release a Galaxy S24 powered by this Generative AI model as early as 2024, Samsung plans to integrate AI into its consumer tech products.

Takeaway

Samsung brings AI-powered tools to its devices. What is your move, Apple?

Amazon’s Olympus AI: Stepping into the Future of Artificial Intelligence

🌐 Amazon’s Bold Move into Conversational AI

Amazon is stepping up its game in the AI world by developing a new conversational AI software, Olympus. This move positions Amazon as a formidable competitor to OpenAI and Microsoft in the corporate AI technology sector.

🤖 Olympus: Enhancing Amazon’s Ecosystem

Olympus is not just another AI model; it’s anticipated to transform Amazon’s online retail platform and empower Alexa’s voice assistant features on devices like Echo. Moreover, it’s set to bolster Amazon Web Services (AWS).

⚔️ Outperforming Titan: Amazon’s AI Ambition

Olympus is expected to surpass Titan, AWS’s current suite of Greek-named large language models. While Titan has been offering cloud clients capabilities in personalization and search, Olympus aims to set a new benchmark in AI performance.

🕒 The Timeline: Anticipation and Uncertainty

The exact timeline for Olympus’s completion and deployment remains a subject of speculation. Currently, AWS offers one Titan model to customers, with two more in the pipeline, designed to provide ChatGPT-like text responses and summarization of lengthy texts.

🌏 Alibaba Joins the AI Race

In a parallel development, Alibaba, China’s cloud computing and e-commerce giant, has introduced Tongyi Qianwen 2.0, its latest large language model. This move signifies Alibaba’s ambition to compete with global tech giants like Amazon and Microsoft. The AI race is not just a duel but an international tournament with multiple formidable players.

Takeaway

Amazon’s foray into advanced AI with Olympus marks a significant shift in its strategy. They have been slow to get on to the Gen AI bandwagon till now.

Aleph Alpha’s Series B Triumph

🚀 Aleph Alpha’s Funding Milestone

Aleph Alpha, a Heidelberg-based AI innovator, has made headlines by securing over $500 million in Series B financing. This significant investment marks a new chapter in the AI field, particularly in explainable and trustworthy AI.

💡 The Investors’ Ensemble

The round was led by the Innovation Park Artificial Intelligence (Ipai), Bosch Ventures, and the companies of Schwarz Group. New investors are Joining this impressive lineup, including Hewlett Packard Enterprise and SAP. The participation of these heavyweight investors underscores the confidence in Aleph Alpha’s potential.

🔬 Focused Investment: Pioneering AI Research

The funds are earmarked for research on foundation models and enhancing product capabilities, particularly for business-critical environments.

🌍 Aleph Alpha: A Global AI Visionary

Under the leadership of CEO Jonas Andrulis, Aleph Alpha stands out not just as an AI company but as a collective of international scientists, engineers, and innovators. They are at the forefront of researching, developing, and deploying transformative AI, including large language and multimodal models.

Their operation of the fastest European commercial AI cluster and their generative AI solutions for enterprises and governmental institutions highlight their commitment to data security and building trustworthy AI.