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OpenAI makes GPT-4 generally available
⚡ Today’s Highlights
📰 News: OpenAI makes GPT-4, its latest text-generating model, generally available
💰 Funding: Telexistence, nami, and BrainBox AI
🦾 Tools: Use AI as your personal assistant for app development
📰 Today's Top Stories
(7 min read) (Source: OpenAI)
TLDR: OpenAI has announced the general availability of GPT-4, its latest text-generating model, through its API. GPT-4 can generate text and accept image and text inputs, performing at a "human level" on professional and academic benchmarks.
OpenAI plans to open up access to new developers by the end of the month and expand availability limits based on compute availability. Developers will also have the ability to fine-tune GPT-4 and GPT-3.5 Turbo with their own data later this year.
OpenAI is also making its DALL-E 2 (image-generating) and Whisper (speech-to-text) APIs generally available. The company will deprecate older models, including GPT-3, on January 4, 2024, replacing them with more compute-efficient "base GPT-3" models. Support will be provided for transitioning to the new models.
(4 min read) (Source: Axios)
TLDR: Investors are increasingly recognizing AI's disruptive potential, with 64% considering AI and ML as the most disruptive technologies in the next five to 10 years.
Venture capital investment reflects this trend, with $20.2 billion poured into AI-related startups in Q2, surpassing fintech's $7.9 billion (excluding Stripe's $6.9 billion round). Non-traditional and generalist venture capital firms are shifting focus towards AI and climate tech, reducing investments in consumer-facing fintech businesses.
Although fintech may have lost some appeal, AI presents opportunities to enhance fraud detection, automate processes, and drive innovation in compliance and fraud prevention within the financial industry. Fintech remains a well-funded VC category, ensuring continued capital availability.
(6 min read) (Source: CNBC)
TLDR: South Korea's strong position in the memory chip market is giving it an edge in the global AI chip race and Samsung and SK Hynix, two of the world's largest dynamic random-access memory chipmakers, are actively investing in AI research and development to enhance their capabilities.
With its ambitious goal of becoming one of the world's top three AI powerhouses by 2027, South Korea is heavily investing in AI semiconductor research and development.
The government's substantial funding and support for local startups, such as Rebellions, which has developed a chip surpassing Nvidia's GPUs in performance, demonstrate the country's determination to challenge U.S. chip giants and establish itself as a leading player in the AI chip industry.
Leaked email shows Adobe banning employee use of personal email accounts and corporate credit cards for generative AI apps
(6 min read) (Source: Business Insider)
TLDR: Adobe implemented guidelines for using generative AI tools internally, which included a ban on the use of personal email accounts and corporate credit cards. Employees were encouraged to opt out of data usage for machine learning training and to avoid sharing personal or non-public Adobe data.
Additionally, an AI working group called AI@Adobe was launched to define principles and guidelines for the adoption of generative AI. Similar restrictions were observed at tech giants like Amazon, Apple, Alphabet, and Samsung.
💰 Funding Alerts
1. Telexistence, a Japanese robotics firm that develops AI-powered robotic arms for the retail and warehousing sectors, raised $170 million in a Series B funding round, led by SoftBank Group, with participation from Monoful Venture Partners, KDDI Open Innovation Fund, Airbus Ventures, HH-CTBC Partnership (Foxconn Co-GP Fund), and Globis Capital Partners.
With the funding, Telexistence plans to expand invest in research and development, accelerate its business expansion in North America, and continue commercializing its next-generation model, "GHOST."
2. nami, a Singapore-based company that provides AI-powered digital sensing solutions to various industries through hardware-augmented software, raised $10.5 million in a Series A funding round from strategic investors including Verizon Ventures (Michelle McCarthy, Managing Director), Amavi Capital (Frédéric Van Weghe, Managing Partner), INSPiRE (Ryosuke Takatsuki, Representative Director), and Aconterra (Ron Schuermans, Founding Partner).
With the funding, nami plans to expand its team and geographical presence to deploy its advanced digital sensing infrastructure in residential and commercial buildings across three continents.
3. BrainBox AI, a company using autonomous AI to improve buildings, raised $30 million in its fundraising round, with a $10 million investment from a leading European global insurance and asset management provider, along with participation from ABB and the Quebec Government.
BrainBox AI uses autonomous AI to make buildings smarter, greener, and more efficient, supporting real estate clients in various sectors such as offices, hotels, retail, grocery stores, and airports.
With the funding, BrainBox AI aims to deliver scalable AI-driven solutions to decarbonize the built environment and increase the global scalability of its HVAC technology.
🦾 Trending Tools
FlutterFlow’s AI Gen is an AI assistant for app development. Describe your needs with simple text descriptions and let AI Gen handle the rest - from database schema and pages to components and color themes.
Whimsical AI transforms ideas into flowcharts effortlessly with its Text-to-flowchart feature. Share user flows, process flows, and ideation flows with your team.
VEED AI Avatars creates pro-level videos in a few clicks with photo-realistic AI avatars. Generate education, product demos, and how-to videos easily. No actors or complex software, thanks to an intuitive online editor and multilingual support making localization and scaling seamless.
Sauce automates customer insights with AI product feedback. Consolidate feedback, automate insights, ship impactful releases, and bridge the gap between product development and go-to-market teams. Set up easily in 2 minutes by connecting Slack feedback channels.
Opnbx.ai helps you prospect and generate cold emails. Generative AI that understands your prospects in ways the average cold email never could. Craft highly personalized and relevant emails to engage potential customers and boost sales conversion rates.
👀 More Reading:
How to Train Generative AI Using Your Company’s Data (Harvard Business Review)
A Lego-lover’s guide to preparing for the AI age (The Economist)
The Opt Out: 4 privacy concerns in the age of AI (Popular Science)
Give Every AI a Soul—or Else (WIRED)
Will China overtake the U.S. on AI? Probably not. Here’s why. (The Washington Post)
🌎 Fresh Content
1. Sam Harris had Nina Schick on his podcast, Making Sense with Sam Harris, to discuss the challenges of regulating AI, authentication vs detection, fake video, hyper-personalization of information, the promise of generative design, productivity gains, disruptions in the labor market, OpenAI, and more. (Spotify)
2. Yuval Noah Harari spoke at the UN’s AI for Good summit along with Nicholas Thompson, CEO of The Atlantic, on the crucial role of regulation in AI development and deployment, and the impact this breakthrough tool could have on democracy and our relationship with reality. (YouTube)
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