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Happy Monday Team, Get ready for a wave of AI gifts this December as major LLMs and new automation tools are set to launch. Banks are increasingly relying on AI—are these moves risky, safe, or simply inevitable? Plus, we explore why OpenAI might be overvalued. Happy Monday, everyone! Enjoy the read and see you in the comments! Brought to you by :
Is OpenAI Over Estimated?
OpenAI's $157B valuation may be overestimated, with more valuable AI companies yet to emerge. Despite rapid growth and revenue projections, OpenAI faces challenges as its costs increase with scale, unlike traditional software models. Competitors like Meta provide cheaper alternatives, using their extensive user base to gain an edge. OpenAI’s reliance on heavy infrastructure investments and its partnership with Microsoft also pose risks. The real value in AI is expected to come from specialized applications addressing industry-specific needs, as future startups could better capitalize on AI’s transformative potential. Our Partners:
ChristmAIs Is Coming!
December is set to be a pivotal month for AI as OpenAI, Google, and Anthropic gear up to release major models and technologies, potentially reshaping the tech landscape. OpenAI plans to launch its new AI model, codenamed Orion, marking the two-year anniversary of ChatGPT. Unlike previous models, Orion will initially be available only to partner companies, and Microsoft is preparing to host it on Azure as early as November. Despite CEO Sam Altman’s denials, hints suggest that Orion, which could be 100 times more powerful than GPT-4, will be released soon. Google, meanwhile, is preparing its next-generation “Gemini” AI model for a December release, directly competing with OpenAI’s timeline. The model will improve browser-based AI tasks like research and shopping, enhancing its use in enterprise applications. Anthropic is also launching a groundbreaking AI system designed to control browsers and perform tasks autonomously. Google’s similar project, “Project Jarvis”, demonstrates the push toward AI seamlessly integrating into personal computing. This December, these major releases mark a critical moment as tech giants compete to dominate the AI space. With these models set to redefine user interactions and capabilities, the AI race is heating up—just in time for the holiday season. 🧰 AI ToolsVoice Cloning.
Banks to Lean more on AI.
Bank of America has doubled its artificial intelligence (AI) and machine learning patents over the past two years, now holding nearly 1,100 patents, a 94% increase since 2022. The bank has integrated AI into various tools, including its Erica chatbot, wealth management analytics, treasury management systems, and trader support chat tools. As banks invest heavily in AI, regulators like the Consumer Financial Protection Bureau are monitoring developments, expressing concerns that underdeveloped AI chatbots could hinder customer service. 📰 AI News and Trends
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Monday, October 28, 2024
🎄ChristmAIs Is Coming!
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