Need to Know News - May 8th, 2024
In this week's Need to Know News edition...Meta's newest AI tool brings AI art to advertisers...Elon Musk's bold plan for AI curated news...and an avalanche of Microsoft AI news, including their new model to challenge ChatGPT. Plus, a whole lot more!
AI In Action
AI Could Put ‘Holy Grail’ of Retail Offers Within Reach
“AI is most useful for marketing in its ability to power advanced personalization strategies,” Jean-Matthieu Schertzer, chief AI officer at Eagle Eye, told PYMNTS.
“For a long time, we’ve said that true one-to-one engagement is the ‘holy grail’ of retail marketing, and with AI, that grail is finally within our reach.”
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Meta’s AI Tools for Advertisers Can Now Create Full New Images
Meta is rolling out an expanded set of generative AI tools for advertisers, after first announcing a set of AI features last October. Now, instead of only being able to create different backgrounds for a product image, advertisers can also request full image variations. They offer AI-inspired ideas for the overall photo, including riffs that update the photo’s subject or product being advertised.
In one example, Meta shows how an existing ad creative showing a cup of coffee sitting outdoors next to coffee beans could be modified to present the cup, from a different angle, in front of lush greenery and coffee beans, evoking imagery reminiscent of a coffee farm.
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Oracle Introduces AI Capabilities to Help Companies Boost Sales
Oracle has unveiled new AI capabilities within Oracle Fusion Cloud Customer Experience (CX) to help marketers, sellers, and service agents accelerate deal cycles.
The new AI capabilities include AI-assisted response generation for service agents, automated scheduling for field service, opportunity identification for marketing and sales through buyer mapping, AI content authoring assistance, and seller engagement recommendations.
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Indie Artist Washed Out's New Music Video Was Fully AI-Generated
A chillwave musician last week uploaded the first entirely artificial intelligence-generated music video created by OpenAI’s text-to-video model, Sora.
Washed Out’s latest song, “The Hardest Part,” was released Thursday, complete with a four-minute music video following a couple’s romance from high school through the rest of their adult lives together — speeding through scenes alluding to a wedding, child-rearing and eventual death.
The video’s director, Paul Trillio, wrote in a statement shared by Washed Out’s record label, Sub Pop, that he had wanted to film such an “infinite zoom” concept for a decade now but never attempted it because he believed it would be too ambitious
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At the Frontier of AI
An AI Company You Never Heard of Just Raised $1 Billion.
CoreWeave is an AI cloud computing startup that was founded in 2017 by three former commodities traders to build specialized cloud infrastructure for training and running large AI models. The company operates data centers with massive amounts of Nvidia GPUs that are key for powering computationally intensive AI workloads.
CoreWeave's recent $1.1 billion funding round at a $19 billion valuation came as a huge surprise, but the CEO explained it's an investment in their ability to build large supercomputers optimized for AI.
Elon Musk's Plan for AI News
In a series of emails to CMSWIRE, Elon Musk detailed his plan to use AI to combine breaking news and social commentary around big stories, present the compilation live and allow you to go deeper via chat.
“As more information becomes available, the news summary will update to include that information,” Musk told CMSWIRE. “The goal is simple: to provide maximally accurate and timely information, citing the most significant sources.”
That goal won’t be easy to achieve, but the bot might become a novel news product given its access to the X firehose. “Grok is analyzing sometimes tens of thousands of X posts to render a news summary,” Musk said.
Mechanoid Unveils Revolutionary AI and Automation Suite to Boost Small Business Sales and Efficiency
Mechanoid, a business optimization and automation leader, launched new AI-powered software to streamline small business marketing and sales through automation. The all-in-one lead management solution integrates phone, SMS, email, websites, funnels, bookings, marketing, automations, and AI to efficiently nurture leads and increase conversions from existing traffic. It provides real-time visibility into the sales process for personalized customer support.
Microsoft is ‘turning everyone into a prompt engineer’ with New Copilot AI Features
Microsoft is attempting to solve the problem of coming up with a good prompt for generative AI, aiming to turn everyone into a prompt engineer. In the coming months Copilot for Microsoft 365, the paid service that adds an AI assistant to Office apps, will be updated with a new auto-complete feature that offers suggestions to improve AI prompts.
If you start creating a prompt then Copilot will soon offer to complete it with extra details to improve the end result of whatever you’re generating or the questions you’re asking.
Microsoft Readies New AI Model to Compete with Google, OpenAI,
The new model, internally referred to as MAI-1, is being overseen by recently hired Mustafa Suleyman, the Google DeepMind co-founder and former CEO of AI startup Inflection, the report said, citing two Microsoft employees with knowledge of the effort.
MAI-1 will be "far larger" than the previous smaller, open source models Microsoft had previously trained which means it will be more expensive, according to the report.
Wipro, Microsoft Team Up for AI Virtual Assistants for Financial Services
IT major Wipro on Monday announced that it has teamed up with Microsoft to launch a suite of cognitive assistants for financial services powered by generative AI.
Using cutting-edge GenAI technology, these assistants will furnish financial experts with in-depth market insights and timely updates on investment options and customer behavior. They'll also streamline the investor onboarding and loan origination processes by slashing document validation times and offering helpful responses to investor queries.
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