Need to Know News - September 26th, 2024
In this week's Need to Know News edition...New, cheaper AI models from Google...Amazon launches an AI-Powered video Ad generator...Sam Altman claims we could be just "a few thousand days" away from creating an artificial "superintelligence"...plus, a whole lot more!
AI In Action
Google just Dropped New Versions of Gemini
Google has released two new versions of its popular Gemini AI models. They're promising a 50% price drop for developers, twice the output speed, and three times lower latency compared to the previous generation. The Gemini-1.5-Pro-002 and Gemini-1.5-Flash-002 models boast improved performance in code, text, and multimodal processing tasks.
Google has taken developer feedback into account, reducing output length by 5-20% for faster responses without compromising quality. The company has also streamlined access to these models via Google AI Studio and Vertex AI, and updated privacy filters for enhanced content safety.
Reddit Announces AI & Automation Features To Its Ads Manager
The update includes an AI-powered inspiration library showcasing top-performing ad creative, an AI copywriter tool that generates ad copy based on Reddit best practices and campaign inputs, and an image auto-cropper that automatically adjusts images to fit recommended display ratios.
The timing of this update is particularly advantageous, as it comes just before the holiday advertising surge. By leveraging these AI-driven features, advertisers can unlock new opportunities for growth on the platform, reaching their target audience in a unique environment.
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Amazon Launches AI-Powered Video Ad Generator Ahead of Holidays
This tool, currently in beta and available to ad partners at no extra cost, is part of Amazon's Sponsored Brands campaign suite. French skincare company Gellé Frères has already tested the offering, significantly reducing the time required to produce video ads and expanding video advertising opportunities for a wider range of their products.
AI Identifies Hundreds of Mysterious Nazca Drawings in Peruvian Desert
In a remarkable breakthrough, an artificial intelligence program has helped researchers uncover 303 new ancient geoglyphs in the Peruvian desert, nearly doubling the number of known Nazca and Paracas drawings in just six months. The AI analyzed aerial photographs of the region, identifying potential glyphs that were later confirmed through on-the-ground surveys.
Amazon Also Launches a Powerful New Generative AI-Based Selling Assistant Codenamed Project Amelia
Built using Amazon Bedrock, Project Amelia combines broad world knowledge with deep expertise in selling on Amazon, providing sellers with tailored insights, advice, and tools to boost productivity and drive growth.
Currently available in beta for an initial set of U.S. sellers, Project Amelia assists with knowledge-based questions, status updates, and metrics. In the near future, it will also offer issue resolution and even take actions on behalf of sellers. As sellers interact with the AI, it will continuously learn and evolve, offering increasingly personalized and comprehensive support.
Microsoft Unveils ‘Trustworthy AI’ Features to Fix Hallucinations and Boost Privacy
Microsoft has unveiled a suite of new "Trustworthy AI" features aimed at addressing growing concerns about AI security, privacy, and reliability. The tech giant introduced a "Correction" capability in Azure AI Content Safety to combat AI hallucinations, along with enhanced GPU security and improved tools for evaluating AI outputs. Microsoft is also expanding its "embedded content safety" efforts, allowing AI safety checks to run directly on devices, even when offline.
At the Frontier of AI
'We're only in 1996': Why the AI boom is still in its earliest days, according to Bank of America
Despite mounting skepticism about the returns on AI investments, Bank of America asserts that the artificial intelligence boom is still in its infancy, following a trajectory similar to the internet in the 1990s. The bank's strategists say AI is the third major tech cycle in the past 50 years, starting with ChatGPT's launch in November 2022.
While AI's impact is expected to materialize sooner than past tech booms, the current level of investment is merely a prerequisite for developing and growing AI applications. The report forecasts AI will drive margin expansion for most industries, particularly in semiconductors and software.
Open AI CEO says AI 'Superintelligence' is Coming Sooner than You Think
OpenAI CEO Sam Altman declared in a personal blog post that the world is at the "dawn of the Intelligence Age," and we could be just "a few thousand days" away from creating an artificial "superintelligence." Altman emphasized the need to continue investing in chips and computing power to establish a widespread infrastructure for this technology, making it accessible to everyone.
James Cameron is Joining Stability AI’s Board of Directors
James Cameron has signed a deal to join the board of directors at Stability AI, the company behind Stable Diffusion. Despite recently expressing concerns about AI's potential impact on people's sense of purpose, Cameron cited his long history of experimenting with emerging technologies as a key factor in his decision.
Stability AI CEO Prem Akkaraju described Cameron's arrival as a "monumental statement" for the AI industry, while Cameron pointed to the intersection of generative AI and CGI image creation as the next big breakthrough in filmmaking. This news comes amidst growing interest from studios in partnering with AI firms, such as Lionsgate's recent collaboration with Runway.
The AI Market Could Reach Almost $1 Trillion in 3 Years
In a new report from consulting firm Bain suggests that the market for AI-related products and services could skyrocket to nearly $1 trillion within the next three years. The total addressable market (TAM) for AI hardware and software is expected to grow between 40% and 55% annually, potentially reaching $780 billion to $990 billion by 2027. The report also highlights the emergence of "sovereign AI blocs" as countries invest in domestic AI infrastructure.
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