Plus: Microsoft Diversifies its AI Investments and AI Insights from Leaders.

͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­͏ ‌     ­

	Forwarded this email? Subscribe here for more 🦾AI Automates 700 Jobs. Is it Sustainable? Plus: Microsoft Diversifies its AI Investments and AI Insights from Leaders. Yaro Celis Feb 28   READ IN APP   Sign Up - Advertise Hello Everyone, Microsoft broadens its AI horizons through strategic investment in a leading open-source LLM enterprise. Concurrently, Klarna revolutionizes its operational efficiency by “allegedly” automating hundreds of roles. And, AI insights from industry pioneers, shedding light on the future of technology and business. This is what we got today… Microsoft Diversifies its AI Investments. AI Automates 700 Jobs. Is it Sustainable? AI Insights from Leaders. Our Sections: ❓Quiz of the Day 📰 News and Trends 🤔 What I Found Interesting 🧰 AI Tools (LLMs) Upgrade to paid ❓Quiz of the Day Which of the following is a potential benefit of AI in healthcare? A) Increasing diagnostic errors B) Reducing time in developing new drugs C) Replacing all human doctors D) Decreasing patient engagement Please give us your answer in the comments below. The correct answer will be given in the next newsletter - Last Week’s Quiz correct answer: “B” Leave a comment 📰 AI News and Trends Microsoft alone will spend somewhere in the ballpark of $50 billion this year (on AI), compared to the Chips Act, which is $52 billion over five years (Bloomberg) Sora has some competition and this is just the beginning - Lightricks, the Israeli startup behind Facetune and Photoleap, announced a new AI video tool called LTX Studio that can generate characters, scenes, storyboards, and even entire movies using only text descriptions. Tumblr and WordPress to Sell Users’ Data to Train AI Tools (404) Putin has new cyber-tools that threaten democracy, Ukraine warns (Times) 🌐 Other Tech news Apple Kills Its Electric Car Project (NYT) The UK Is GPS-Tagging Thousands of Migrants (Wired) Is battery swapping a better way to recharge electric cars? (NS) Apple Vision Pro’s components cost $1,542—but that’s not the full story (ARS) Bitcoin price hits $64K as traders anticipate new all-time high before halving (CoinTelegraph) Meta is aiming to reveal and demo Orion, its first true AR glasses, at its fall developer conference (BI) Microsoft Diversifies its AI Investments Microsoft has announced a strategic partnership with French AI startup Mistral, aiming to diversify its AI portfolio beyond its ~$13 billion investment in OpenAI. This multiyear agreement supports Mistral in bringing its AI models, which are open-source, to market, contrasting with OpenAI's proprietary models. Microsoft's investment details in Mistral were not disclosed, but it's significant (~$16.3M) as Mistral becomes the second provider of commercial language models on Microsoft's Azure platform. Amidst regulatory scrutiny of its OpenAI collaboration, Microsoft continues to invest in AI, including a $5.6 billion boost to its AI data centers in Europe, and plans to innovate in AI chip development. This move underscores Microsoft's broader strategy to foster an "AI economy," ensuring open competition and innovation in the rapidly evolving AI landscape. Get a FREE 1-on-1 AI Session for you and your team when you refer 2 people. Refer 10 and get a $50 Amazon Card. Refer a friend AI Automates 700 Jobs. Is it Sustainable? Klarna, the Swedish fintech pioneer, has announced its AI assistant, developed with OpenAI technology, now does the work of 700 employees. This comes after laying off an equal number of staff, highlighting AI's growing role in streamlining operations. The AI handles two-thirds of customer service chats, allegedly achieving high satisfaction rates, and is expected to boost Klarna's profits by $40 million in 2024. Despite concerns over job displacement, Klarna emphasizes that AI enhances rather than replaces human work, maintaining an option for human interaction. This move signals a shift towards more AI-dependent customer service models, driving efficiency and satisfaction. Interestingly enough, Klarna has done this on the eve of its public offering. Many believe this will boost its price to entice investors and please shareholders while sacrificing quality and efficiency. This can be a great test for companies’ AI adoptance as we will see how their AI enhancements unravel shortly. 🤔 What I found interesting this week What Podcasts are people listening to? - Find out Here Nobel Prize Winner Cautions on Rush Into STEM After Rise of AI (Bloomberg) 📰 Publications I am currently reading and recommending: BookBub - We help millions of readers save up to 95% on bestselling ebooks. Join for free and get incredible ebook deals, straight to your inbox. 1-Minute Question - Based on Neuroscience Science Practices to rewire your brain for success. How Brands Win - Distills the strategies behind great brands. And gives you actionable insights for your business. AI Insights from Leaders Ten AI Insights from Databricks, Anyscale, and Microsoft. 1. AI's Integration into Software: Ali Ghodsi of Databricks highlights AI's future role as intrinsic to data platforms, foreseeing a shift where AI and machine learning become core to software, akin to the relational database revolution led by Oracle in the late '70s. 2. Targeting Early Adopters: Ghodsi advises founders to initially focus on startups and innovators, leveraging their quick adoption and feedback to refine AI products before approaching larger, more traditional enterprises. 3. LLMs as Reasoning Engines: Matei Zaharia, also from Databricks, emphasizes the importance of using large language models (LLMs) for their ability to reason and interpret language over being mere repositories of information, advising to externalize factual knowledge. 4. Shifting Problem Perspectives: Naveen Rao discusses the significance of approaching emerging technology with a mindset that challenges and redefines problem-solving, drawing from his experience in founding AI companies. 5. AGI's Distant Future: Rao offers a tempered view on the advent of artificial general intelligence (AGI), predicting its arrival might be decades away, contrary to more immediate expectations. 6. Rise of Open-Source Models: Robert Nishihara of Anyscale observes a shift towards open-source AI models as businesses seek to quickly deploy and iterate on generative AI applications, predicting a future where custom, task-specific models become prevalent. 7. Specialization and Routing Architectures: Nishihara foresees the development of specialized AI models for specific tasks, complemented by routing architectures that efficiently manage query complexity. 8. Evaluation Challenges: He also identifies the growing difficulty in evaluating generative models, noting the subjective nature of their outputs and the inadequacy of traditional benchmarks. 9. Workflow Integration for AI Adoption: Bobby Yerramilli-Rao from Microsoft stresses the importance of embedding AI technologies into existing user workflows to enhance adoption, drawing parallels with the rapid integration of video conferencing technologies. 10. Focusing on Enduring Problems: Yerramilli-Rao advises AI founders to concentrate on solving persistent, valuable problems that remain relevant despite rapid advancements in AI capabilities, highlighting the opportunity in vertical applications and model management. These insights encapsulate strategic considerations for AI startups, emphasizing the importance of adaptability, user-focused development, and a long-term perspective on technology's evolving landscape. 🧰 AI Tools LLMs LeChat - The Mistral LLM model is here and ready to compete with ChatGPT. Inflection PI - Conversational AI that's designed to chat with people and provide information, recommendations, and emotional support. Claude - Claude is a state-of-the-art language model developed by Anthropic. Gemini - Google’s LLM. Download over 400+ Tools free here. 🚀 Showcase Your Innovation in the Premier Tech and AI Newsletter (link) As a vanguard in the realm of technology and artificial intelligence, we pride ourselves in delivering cutting-edge insights, AI tools, and in-depth coverage of emerging technologies to over 55,000+ tech CEOs, managers, programmers, entrepreneurs, and enthusiasts. Our readers represent the brightest minds from industry giants such as Tesla, OpenAI, Samsung, IBM, NVIDIA, and countless others. Reserve a Spot Explore sponsorship possibilities and elevate your brand's presence in the world of tech and AI. Learn more about partnering with us. You’re a free subscriber to Yaro’s Newsletter. For the full experience, become a paying subscriber. Subscribe for $1/Month Disclaimer: We do not give financial advice. Everything we share is the result of our research and our opinions. Please do your own research and make conscious decisions.   Like Comment Restack   © 2024 Yaro Celis 548 Market Street PMB 72296, San Francisco, CA 94104 Unsubscribe

💸 Have you checked on your money goals this year?

+ Maximize your meeting with a financial planner & why many people don't actively manage their money

02/27/2024 Bite-sized money insights across a broad range of topics—from budgeting, taxes, buying a car or home, to investing, equity comp, crypto and more.     Here's the Gist today   Happy Tuesday Origin Member.   About 53% of Americans say they've met with a certified financial planner before, but do you ever wonder how much they've paid for that service? A. $50-$150 per hour B. $150-$250 per hour or C. $200-$400 per hour   Here are the topics for today: Trending: How Will Capital One's Attempt to Buy Discover Impact Consumers? Now Is The Time to Check on Your Money Goals Maximize Your Meeting With a Financial Planner Why Most People Don't Manage Their Money     Trending: How Will Capital One's Attempt to Buy Discover Impact Consumers?     Last Monday, Capital One made known its intentions to acquire Discover Financial Services. The proposition would include a $35B 100% stock transaction, and subsequently combine two of the U.S.'s largest credit card companies.    The deal, if approved, is expected to be completed in late 2024 or early 2025. But things are far from a done deal. Regulators will no doubt be taking a close look at the transaction before deciding on approval and determining whether or not the acquisition would have a negative impact on equitable competition.    But if the deal does go through, how might it impact you?   Consolidation is often viewed as a negative thing for consumers — less competition can sometimes mean higher costs for the average person.    The power of a good network Discover is known mostly for its credit cards, but it also boasts its own payment network behind the scenes, meaning they're not reliant on payment networks like MasterCard or Visa (Think Amex). They also provide comprehensive banking and lending services as well.  Capital One's aim is obvious — this isn't an acquisition to take down a competitor, but a vertical integration to bring much more of the business in-house and under their own control. Capital One would undoubtedly become an industry behemoth.  American Express is the only other all-in-one financial company like this in the U.S., and after absorbing Discover, Capital One would dwarf American Express.  Will you get a new card? Probably.  Capital One will transition all debit cards to the Discover payment network once the deal is approved. The migration of credit cards will occur gradually.  While the change may not significantly impact U.S. shoppers, it could limit payment options abroad, where Mastercard and Visa are more widely accepted. How will this impact credit card rewards? The idea is that Capital One could save money by having its own payment network, enabling it to provide better rewards without paying external fees.  Additionally, Discover's network could intensify competition, prompting Visa, Mastercard, or American Express to reduce the fees they charge businesses for accepting payments on their networks. But no changes right now   Experts suggest that a Capital One-Discover merger could offer better rewards but might come with higher APRs and fees, presenting a mixed scenario for consumers.   For now? It's all a game of wait-and-see.     Now Is The Time to Check on Your Money Goals     Heading into the year, roughly one-third of Americans were planning to set some form of New Year's resolution, with younger adults (< 30) leading the way.    Although we don't need data to know this, studies show that only about 9% of adults actually keep their resolutions for the entire year — yikes.    We're here to keep you accountable. Believe it or not, we're already 2 months into 2024, and the year is about 15% completed already. If you made some financial resolutions to start the year, now is the time to circle back and see how you're doing with them.    A few helpful approaches Document your progress. If one of your 2024 money goals was to pay off $5,000 in credit card debt, you need to document that process. Keeping track of your progress helps keep you motivated by being able to see how far you've come. Prioritize the important things. If you haven't already, set goals on the most important aspect of your financial well-being — budgeting, saving, and investing; the essentials. If you've fallen off the wagon, get back on. Most people will forgive and forget their goals by this time of the year, but starting off on the wrong foot doesn't mean you have to give up. Goals aren't just something you start on January 1st, they can be begun all over again on February 27th. There is plenty of time left this year to make noticeable progress. Develop a plan to keep yourself accountable. If you're struggling to meet or maintain your goals, setting up a weekly self-check-in can help. Monitor your progress and ask yourself what you can change or do differently every week to help make strides towards the goal you have set. Make sure your goals are specific. It's easy to create broad-based resolutions that guide us in a general direction, but curating goals with specific outcomes is the most impactful and easiest to follow. For example — set forth a goal to save $5,000 this year, and $416 per month. If you didn't set any goals, it's not too late. Goal setting isn't just for January, you can start improving your finances at any time. Start setting your goals today, and place an emphasis on creating habits around them for the rest of 2024.      Maximize Your Meeting With a Financial Planner     According to the CFP Board, only about 53% of Americans have worked with a financial planner before. Sure, not everyone needs professional help to navigate their finances, but it's also undeniable that it can always help.    What are a few reasons to meet with a financial planner? To increase your confidence in your financial situation: Meeting with a financial planner provides a comprehensive review of your finances, offering insights and strategies that boost your understanding and confidence in managing your money. To make meeting your goals easier: A financial planner acts as a strategic ally in setting and achieving your financial goals. With personalized guidance and tailored plans, navigating the path to your aspirations becomes a smoother and more achievable journey. You want a deeper dive into your money: If you're eager to unravel the complexities of your financial landscape, a financial planner offers a deep dive into your money matters. Gain clarity on budgeting, investing, and overall financial health for a more informed and empowered financial future. You need specialized financial assistance: For intricate financial needs such as estate planning, tax optimization, or navigating the world of investments, a financial planner brings specialized knowledge and expertise to ensure you make informed decisions and maximize your outcomes. How to maximize that meeting Start with a deep dive Into your finances: Before your meeting, take a stroll through your financial world. Get a general idea of things like your net worth, income, debts, investment details, and any financial skeletons in the closet. The more your financial planner knows, the better they can tailor advice to fit your unique situation. Create a financial vision board: What does financial success look like for you? Figuring out your dreams and aspirations will help inform your meeting and the questions you can ask – whether it's buying a home, starting a business, or retiring on a tropical island. Your financial planner can help turn those dreams into actionable goals. Gather objective insight into your situation: Your financial planner brings a wealth of industry experience to the table. They'll provide a valuable benchmark, comparing your financial standing with others in a similar situation. It's not about competing; it's about understanding where you are on the map of financial growth. Ask your most pressing questions: Be sure to ask the most impactful, useful questions you may have. Say you have budgeting down to a science, but have some gray areas when it comes to investing and asset allocation. Use your financial planner's expertise to help fill in the gaps. Focus on areas where you need the most help, not just your strengths. Get some specifics: The main goal of your meeting should be not just to learn, but also to act. Dig into the details together and ask your planner for specific, actionable steps you can take to improve X, Y, or Z. Maybe it's to up your retirement contributions by 5%, maybe it's to save 5% less, or even a suggestion to adjust your insurance coverage.     Why Most People Don't Manage Their Money     We've mentioned it many times now — the vast majority of Americans say they budget, but very few actually follow it. Similarly, a 2023 survey showed that more than half of Americans don't know how to calculate their net worth.    What can we glean from insights like these? People are aware of the basic principles of money management, but when it comes down to the details — most aren't going very deep. The majority of Americans don't actually manage or know their money, not as much as they should anyway.    But why is that? Reason 1 – a lack of financial awareness: A lack of financial literacy and awareness is the root cause of our apathy towards money. The importance of financial knowledge and money management hasn't been impressed upon us culturally, and talking about money is often frowned upon. As a result, we create swaths of individuals who don't take care of themselves financially. Reason 2 — they don't know where to start: Even for those who are financially cognizant, it's difficult to know where to begin. Do I budget in my notes app, do I need a spreadsheet, where do I turn? Reason 3 — They're not motivated to do so. From the outside looking in, the benefits of actively managing your money may not always be that obvious. That makes sense, but the only way to truly learn is to find out for yourself. Whether it's taking a small step like starting a budget, or going all in from the jump — what's most important is that you do start.      By the way   👨🏻‍🏫 Answer: C. — The average cost is between $200 to $400 per hour.    🍟 Get ready to welcome AI in the drive through at Wendy's (USA Today)   💌 Gen Z couples are more likely to keep separate finances (CNBC)   🌕 America is back on the moon for the first time in 50 years (Vox)     How did you like today's newsletter? How did you like today's newsletter? (Please vote only once.)   🔥 Great stuff — keep it up. - 🤔 Alright, but could be better. - 👎 Not my thing.      Blend Financial Inc. dba Origin 177 Huntington Avenue Ste 1703, PMB 50966 Boston, MA 02115-3153     Unsubscribe from this e-mail     Advisory services are offered through Origin Advisory Services LLC ("Origin RIA"), a Registered Investment Adviser registered with the Securities and Exchange Commission and a wholly-owned subsidiary of Blend Financial Inc. DBA Origin Financial. Origin RIA's registration as a Registered Investment Adviser does not imply a certain level of skill or training. The information contained herein should in no way be construed or interpreted as a solicitation to sell or offer to sell advisory services. All content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. The Origin app is only available to U.S. based members.