Need to Know News - November 21st, 2024
In this week's Need to Know News edition: Would you let AI shop for you? Perplexity is betting on it...How AI helped one trucking company shave 20 minutes off their delivery time...
A new report shows AI spending exploded 500% this year, and more importantly where it's moving next...plus, a whole lot more!
AI In Action
Perplexity's New AI Shopping Assistant Challenges Amazon's Empire
A fresh face in the tech world is shaking up online shopping. Perplexity just launched a smart shopping helper that could give Amazon a run for its money. For $20 a month, Pro subscribers can purchase items directly within Perplexity’s app or website.
"We're simply connecting shoppers directly to what they want," says Dmitry Shevelenko, Perplexity's business chief. The platform works with major brands through Shopify, including Victoria's Secret and Hanes. But unlike other shopping giants, they're not charging stores extra fees.
Nvidia's AI Boom: Profits Explode as "Age of AI" Accelerates
The chip giant just reported massive earnings that beat Wall Street's expectations, with revenue hitting $35.1 billion. CEO Jensen Huang declared "the age of AI is in full steam."
The numbers tell a stunning story. Nvidia's Data Center division, which makes AI chips, brought in $30.8 billion - more than double last year's earnings. Their gaming division also grew to $3.3 billion. Looking ahead, they expect even bigger numbers next quarter. However, their next-gen Blackwell chips are facing supply problems. CFO Colette Kress warns demand will exceed supply well into 2026.
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AI Spending Explodes 500% as OpenAI Loses Ground to Rivals
Companies are betting big on AI - really big. Business spending on AI tools skyrocketed from $2.3 billion to $13.8 billion this year. Thats a 500% surge according to new Menlo Ventures data.
Industry leader OpenAI is losing its grip on the market. Their share dropped from 50% to 34%, while competitor Anthropic doubled theirs to 24%. Why? Menlo partner Tim Tully says companies are getting smarter about mixing and matching AI models for different tasks.
The money tells us where AI is headed. Companies are pouring $6.5 billion into foundation models like ChatGPT and Claude. The top use? Writing code, with 31% using AI for customer support chatbots.
Ignite 2024 introduces new AI agents and more for Microsoft 365 Copilot
Microsoft just turned its office tools into AI powerhouses. At Ignite 2024, they unveiled smart AI agents that can run meetings, translate conversations, and even manage projects .
A massive upgrade to Microsoft 365 Copilot was the start of the show. It can now automatically create PowerPoint presentations, organize messy notes in OneNote, and build Excel spreadsheets from simple commands. They even launched SharePoint agents that dig through company data to boost productivity.
For hybrid workers, the new Microsoft Places tool helps teams coordinate their office time and meeting spaces. The company is serious about measuring results too - a new Analytics dashboard tracks how these AI tools boost productivity.
Aiola Unveils Open Source AI Audio Transcription Model That Obscures Sensitive Info In Realtime
Worried about AI hearing your private details? Israeli startup aiOla has a clever solution. They've created Whisper-NER. It a smart AI tool that masks sensitive information like names and phone numbers. All while converting speech to text.
Unlike other transcription tools that expose data during processing, this new system protects privacy in real-time. The best part: it's free and open to everyone.
Companies can download it from GitHub or Hugging Face to use and modify as needed. While it works best in English, developers worldwide can help expand it to other languages. Healthcare and legal industries stand to benefit most from this privacy-first approach.
How Are Companies Really Using AI? A New Report Has Answers
A new Wharton study reveals AI use among business leaders nearly doubled in one year - from 37% in 2023 to 72% in 2024.
Companies aren't just playing around. They're putting AI to work everywhere, especially in writing (64%) and data analysis (62%). Customer service and fraud detection teams have jumped on board too. Over half now using AI tools.
"The big rewards are not going to come from doing things better; the big rewards are going to come from doing better things," says Wharton professor Stefano Puntoni.
While concerns about accuracy and privacy remain, leaders are less fearful and more practical about AI's role.
AI Helps Trucking Company Save 20 Minutes Per Driver Each Day
PITT OHIO just transformed its trucking business. How? By scrapping its outdated systems for a smart AI platform from Maven.
The trucking company equipped 2,500 drivers across 25 terminals with modern tablets and phones. Now drivers can instantly alert customer service about delivery issues, track weather problems, and navigate traffic better.
The results? Each driver saves 20 minutes daily. "We needed a modernized platform to take us into the world of artificial intelligence," says Scott Sullivan, PITT OHIO's tech chief.
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At the Frontier of AI
Hollywood Veterans Launch AI-Powered Movie Studio with Major Backing
Promise, a new AI-powered studio, is shaking up Hollywood. The venture is led by Fullscreen founder George Strompolos and former YouTube exec Jamie Byrne.
Promise has developed a property technology they call MUSE. And it's designed as a complete production workflow system. Muse integrates AI at every step. It handles real-time collaboration, streamlines the creative process, and provides a secure environment for artists to experiment with AI tools.
The platform even helps with everything from script development and storyboarding to special effects and post-production.
The Man Behind Amazon’s Robot Army Wants Everyone to Have an AI-Powered Helper
Brad Porter, who once led Amazon's warehouse robot army, has a new mission: making helper robots accessible to everyone.
His company Cobot created Proxie, a wheeled robot that's already making waves. At Maersk and Mayo Clinic, 30 Proxies have moved 16,000 carts and traveled over 1,000 kilometers. Workers love that these robots handle the heavy lifting they hate.
Unlike expensive humanoids that cost hundreds of thousands, Proxie keeps it simple. It responds to voice commands, swaps batteries to avoid downtime, and could evolve as AI improves.
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