Need to Know News - February 21st, 2024
AI In Action
Reddit Reportedly Selling User Content to Mystery AI Company
for $60 Million
According to Bloomberg’s sources familiar with the matter, Reddit has signed a contract that will allow the unknown company to train its AI models on the social media platform’s content. The deal includes access to both existing and future comments and posts from Reddit’s 800+ Million monthly users.
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Google Debuts Gemini for Business
Google’s new offering, known as Gemini Business, is an add-on for its Workspace suite of products which includes Gmail, Docs, Meet, Sheets, and Slides. At $20 per user per month, the Gemini for Business is $10 cheaper than Google’s existing Gemini Enterprise and Microsoft’s Copilot for Microsoft 365.
Gemini for Business adds Gemini to the Workspaces suite via email drafting assistance, data analysis, document creation, and more.
OpenAI's Sora Continues to Blow Minds
Last week, OpenAI announced their text-to-video AI technology, Sora. Every day since they've released new generations created with Sora - each making you shake your head in disbelief.
For example, OpenAI created the clip below with the prompt, “a computer hacker labrador retreiver wearing a black hooded sweatshirt sitting in front of the computer with the glare of the screen emanating on the dog's face as he types very quickly.”
Watch the Full Clip
AI Boosting Bookings for Hotels
A new study founds AI can significantly boost direct bookings for hotels, offering a competitive edge against online travel agencies. By combining AI-powered ad campaigns with manual efforts some hotels saw a 36% revenue contribution from direct channels. Plus, the cost of direct distribution through ads decreased to 3.3% of gross bookings, much lower than OTA commissions.
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At the Frontier of AI
Elon Musk Hints at Possible X Partnership with Midjourney
Elon Musk has hinted at a possible partnership between X and the popular AI image generator Midjourney to transform the user experience on the social media platform.
The billionaire Tesla CEO was involved in an X Spaces conversation where he said, "We are in some interesting discussions with Midjourney and something may come of that. One way or another, we will enable AI generation on this platform (X).”
The New York Times Plans to Launch Internal AI
Despite the New York Times' lawsuit against OpenAI alleging massive copyright infringement and the "unlawful use" of the Times' journalistic content, the media company is not technology averse. The Times told Axios Tuesday that it's working on ad-targeting solutions powered by generative AI. It will allow business partners to better target niche audiences through more specific ad campaigns.
Thanks to AI, Business Technology Is Finally Having Its Moment
The generative AI boom reflects a period of tech innovation that is ideally suited for revolutionizing the business world—unlike previous tech booms that favored the creation of big tech companies that served the consumer market.
The period of innovation that took off around 2007 made use of social media and app stores to help startups achieve scale in the consumer market, according to Hemant Taneja, managing director and CEO of venture-capital firm General Catalyst. "This time it is different," he says.
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Disney Plans to Use AI to Help Brands Create Personalized Ads
Entertainment giant Disney has unveiled a new AI-powered tool on its streaming platforms to help advertisers make personalized commercials that match specific scenes in movies and shows.
The tool, called “Disney’s Magic Words,” is expected to be rolled out on Disney+ and Hulu soon. It creates contextual advertisements for improved conversion rates – a combination of AI and machine learning analyzes and tags scenes across Disney’s library, identifying the contents, brands, images, and mood.
Prediction: AI's Rise Will Cut Search Engine Traffic, Affecting Advertising
A new report from the research firm Gartner, has some unsettling news for search engine giants like Google and Microsoft's Bing. It predicts that as everyday net users become more comfortable with AI tech and incorporate it into their general habits, chatbots and other agents will lead to a drop of 25% in "traditional search engine volume." The search giants will then simply be "losing market share to AI chatbots and other virtual agents."
83% of Doctors Say AI Could Help Fight Burnout
The struggle with burnout is catching up to health care professionals who also contend with vast administrative workloads and staffing shortages. Roughly 83%, however, said AI could contend with some of those problems hovering over the health care industry, per a new survey.
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