Need to Know News - September 5th, 2024
In this week's Need to Know News edition...OpenAI Japan CEO opens up about GPT-Next, an AI model 100 times more powerful than GPT-4...the AI position that just broke into the top 10 highest-paid IT jobs...
Why the president of Shopify says AI will help small businesses compete with retail giants... plus, a whole lot more!
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Canva Says its AI Features are Worth the 300% Price Increase
In a surprising turn of events, popular graphic design platform Canva is set to increase prices for some subscription plans. Canva, known for affordable and user-friendly tools, announced its business-oriented Canva Teams plan will see hikes exceeding 300% for some users next year. The company attributes the steep increases to an expanded product offering, especially new generative AI features.
The aggressive pricing pivot has sparked backlash, with some users threatening to abandon Canva for rivals like Adobe. The changes follow Canva's multi-million pound acquisition of Affinity's creative software and come ahead of a potential 2026 U.S. IPO.
Matalan Rolls Out AI Audio Ads
UK retailer Matalan' AI-generated audio spots will run on both traditional radio and digital platforms, allowing the brand to develop and tailor its money-saving messaging across multiple ads. What once took weeks now takes just one day, thanks to cutting-edge AI technology. This innovative campaign, created in partnership with Havas Media Manchester and Additive+, is part of Matalan's broader investment in AI for its marketing efforts.
If successful, this trial run could lead to Matalan fully embracing AI-voiced audio ads, potentially setting a new standard for the industry.
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Here’s How 7 News Audience Directors are Thinking About Google’s AI Overviews
Google's AI-powered search feature, AI Overviews, is causing major concerns among news publishers about its impact on web traffic and audience engagement.
Despite initial criticisms of inaccuracies, Google has expanded AI Overviews to six more countries. Veronica de Souza of New York Public Radio warns, "Each new 'helpful' feature pushes external links further down the search results page, which is dangerous for publishers who have too many eggs in the SEO basket."
Bryan Flaherty of The Washington Post cautions against the dangers of believable but inaccurate AI summaries, while Seth Liss of The Los Angeles Times notes that if Google prioritizes its own site, "there will be a lot of sites that have to figure out other ways to find new audiences."
I Tried AI to Create Social Media Headshots That Looked Real. I Was Impressed
CNET's Amanda Smith put AI-generated headshots to the test using HeadshotPro, aiming to create professional images that looked authentic. The results were impressive.
Smith uploaded a mix of old photos and recent candid snaps, customized her preferences, and received the AI-generated headshots in just over an hour. To her pleasant surprise, the AI nailed her features in about half of the photos. It accurately captured details like her crow's feet when she smiles, her balayage hair, and even her favorite lipstick shades.
Despite some odd ones with inconsistent eye color and unflattering style choices, Smith and her partner picked 17 photos that looked like her.
AI Developers Break into Top 10 Highest-Paid IT Positions
AI developers have cracked the top 10 highest-paid IT positions for the first time, according to a Stack Overflow survey. The survey of 11,027 U.S. developers found that AI developers now earn an average annual compensation of $160,000, reflecting the high demand for AI skills.
Mobile developers top the list at $185,000, followed by back-end, site reliability, and cloud infrastructure engineers, all earning over $165,000. Companies are investing heavily in attracting top talent with skills in AI, mobile apps, data, and cloud infrastructure to drive business growth and success.
At the Frontier of AI
How Disney Plans to Use AI to Grow a $16 Billion Business
Disney's ESPN is turning to AI to transform its flagship show SportsCenter into a personalized streaming app. ESPN chairperson Jimmy Pitaro announced that the new AI-powered app, set to launch next year, will offer tailored sports news, recaps, and analyses. The AI will match content to each viewer's interests, generate clips, and even narrate them.
With streaming now accounting for over 40% of TV viewership, ESPN is adapting to stay relevant for the next generation of sports fans. The move is part of Disney's strategy to grow ESPN's $16 billion business.
AI Will Help Small Businesses Compete with Retail Giants, Says Shopify President
Shopify's President Harley Finkelstein believes AI will level the playing field for small businesses competing with retail giants. Finkelstein, who was one of Shopify's first users before joining the company in 2009, sees AI as a democratizing force.
With Shopify's AI feature called "Shopify Magic," SMEs can generate high-quality product descriptions and images, enabling them to compete with larger brands despite limited resources. As shopping trends evolve, Shopify has partnered with platforms like Google, Meta, and TikTok to facilitate commerce directly. This empowers businesses to sell across every surface where consumers spend their time.
OpenAI Japan CEO Opens Up About GPT-Next
OpenAI Japan CEO Tadao Nagasaki has revealed that the upcoming GPT-Next AI model will be an astonishing 100 times more powerful than GPT-4. Speaking at the recent KDDI Summit 2024, Nagasaki shared that GPT-Next will leverage a smaller version of OpenAI's mysterious Project Strawberry, with its performance boost stemming from improved architecture. He also highlighted the rapid growth of ChatGPT, now boasting over 200 million active users as of August.
Wealthtech Solutions Market Set for $6B Growth from Blockchain, AI
The global wealthtech solutions market is set to skyrocket by over $6 billion, fueled by the power of blockchain and AI technology. According to a new report by Technavio, the demand for transformational financial services capabilities will drive the market to grow at a staggering 14% CAGR between 2024 and 2028.
Key players like Broadridge Financial Solutions, InvestSuite, and Wealthfront Corp. are at the forefront of this digital revolution, offering automated portfolio management, personalized investment advice, and streamlined financial planning.
For Postscript, the Future of Marketing is AI-Powered and Delivered Via Text
Text messaging marketing company Postscript wants to change the way businesses interact with customers. And AI is the key to their success. CEO Adam Turner discovered that only 25% of consumers who signed up for marketing texts actually made purchases. By complementing automated messaging with knowledgeable sales associates who engage in smart, personal interactions via text, Postscript has increased sales for its ecommerce customers.
Now, 60% of consumers who interact with these online personal shoppers end up buying. With the introduction of AI tools, Postscript aims to scale these personalized interactions to thousands of additional brands and millions more consumers.
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