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FoF Specials – Generative AI Gazette | Edition #5 – Sept 2023
Summary of generative AI news from the month of Sept 2023
Welcome to the Latest Byte of AI Awesomeness!🤖
In the Generative AI race this September, major tech giants are making bold moves. Amazon is looking to invest up to $4B in AI startup Anthropic to establish a firm foothold in the generative AI arena. Meanwhile, OpenAI is exploring share sales that could potentially catapult its valuation from $29B to an impressive $80–$90B, marking a pivotal moment in the AI industry. On a parallel track, Google is preparing to launch its AI software, Gemini, intensifying its efforts to keep pace with rivals in the field.
Click the subscribe button now and embark on an AI journey with us! Stay tuned for thrilling experiences, valuable insights, and enjoyable content.👇
But hold on, have you explored the ever-evolving Metaverse, a world of endless possibilities and innovation?
The metaverse is a dynamic realm where competition among platforms and experimentation thrive. Financial institutions are exploring this space, collaborating with tech companies to discover its economic potential. Technology is reshaping finance, offering new ways to handle funds. Brands are seizing the opportunity to provide innovative financial solutions within virtual spaces.
While 2022 marked significant recognition for the metaverse, we are still in its early stages, with its definition expected to evolve further. Financial firms are making bold moves into this digital frontier, setting the stage for future growth and innovation in the metaverse.
Discover what bold strides financial firms took as they ventured into the uncharted territories of the metaverse in 2022. Dive deeper into our blog Virtual Assets, Real Opportunities: Financial Institutions’ Metaverse Exploration.
The world is abuzz with AI's transformative potential, and it's not just the financial giants who are diving into this cutting-edge technology. An array of players across industries are taking the plunge, including the payments trailblazer - Stripe. Through strategic collaborations and an AI-based product suite, the payments giant is revolutionizing payments, enhancing product experiences, and streamlining operations seamlessly.
In our exclusive 50-page report on “Stripe’s Economic Infrastructure Playbook”, we unravel the secrets of how Stripe is transforming the landscape of automated learning and predictive technology. Grab your copy now and be at the forefront of the AI revolution!
Get your AI fix with Edition #5 of the Generative AI Gazette! 📰
We've scoured the AI universe and handpicked the Top 10 highlights from the month of September:
Getty Images partnered with Nvidia to release its AI photo-generation tool called ‘Generative AI by Getty Images'. The tool is paywalled on the Getty.com website, but will also be available through an API, so Getty customers can plug it into other apps. It’s designed strictly for commercial use, and by launching this tool, Getty is competing with rival Shutterstock.
XYB, challenger bank Monese's technology arm, partnered with Google Cloud to revolutionize banking with generative AI, enabling effortless hyper-personalized product launches for financial institutions. By leveraging Google Cloud's AI and data security, XYB empowers customers to expand globally and cut operational costs with automated support.
Temenos unveiled a generative AI tool for automatic customer transaction classification, delivering precise insights and recommendations. The tool accurately labels transactions in various languages, vital for banking tasks like product recommendations, cash flow predictions, and more.
eToro teamed up with Bridgewise to introduce a 'Fundamental-AI' portfolio that offers eToro users exposure to companies set to outperform their industry peers. This innovative offering analyses the top 1,000 eToro companies, ranks them based on performance predictors and assigns scores. The resulting portfolio comprises 40 stocks spanning industries and regions, using fundamental analysis at scale for potential outperformance.
Microsoft advanced AI integration with 'Microsoft Copilot,' which seamlessly merges interfaces on Windows with language models. The solution will be available as enhancement on apps like Paint, Photos, and Clipchamp. Additionally, Bing will be supported by OpenAI's DALL-E 3 model, while Microsoft 365 Copilot will integrate a chat assistant for enterprise solutions.
OpenAI introduced ChatGPT-Plus, a leap toward versatile artificial intelligence. ChatGPT-Plus introduces voice chat using advanced text-to-speech technology, mimicking human voices, and facilitates image discussions through integrated image generation models. These upgrades align with OpenAI's GPT vision for artificial general intelligence and form core elements of the anticipated multimodal GPT-4.
Meta unveiled 28 AI personalities available on Instagram, Messenger, WhatsApp, and Facebook – each with social profiles and AI-generated content. Users can personalize chats with AI stickers and anticipate AI image editing and a Meta AI Assistant. Meta also introduced AI Studio for developers and businesses to create tailored AIs for improved customer engagement.
Despegar, the Latin American online travel agency, introduced a generative AI trip planner. This AI-based planner offers customized itineraries, package creation (flights, accommodations, and car rentals), and destination recommendations, enhancing user experiences and operational efficiency.
The AI adventure is far from over – we’ve got some more tech-tastic content waiting to rev up your inner tech enthusiast! 📰
Mercedes-Benz is pioneering a transformative shift in in-car interaction by integrating OpenAI's advanced chatbot, ChatGPT. Drivers will soon communicate directly with their vehicles. The feature will be available for Mercedes-Benz vehicles equipped with the automaker’s “MBUX” systems.
Spotify was in the news for leveraging artificial intelligence to generate Spanish, French, and German voice translations for multiple podcasts. The AI-translation feature, developed by Spotify and powered by the AI-voice platform Sonantic, maintains the original speaker's style and voice, and is initially available for select podcasts.
Generative AI Word Of The Week: Chain-of-thought 💭
This is a prompting technique that improves the reasoning capability of LLMs. The prompt encourages the model to tackle tasks and answer questions by breaking them down into smaller discrete steps. These steps may also involve collecting additional data via web searches. More recently, a tree-of-thought technique has been developed, which allows branching and back-tracking within the logical steps.
The formula for a chain of thought prompting is straightforward. After stating your question, use the following prompt: "Let's think step by step." This prompts ChatGPT to engage in a logical reasoning process while providing an explanation.
Let's explore an example to understand how the chain of thought prompting framework enhances the explanation process. Consider the question, "What is the diameter of the sun?" Initially, without applying the prompting framework, ChatGPT provides a direct answer.
However, when we employ the chain of thought framework and use the prompt "Let's think step by step," ChatGPT takes us through the reasoning process. Give it a try!
That's all for now!🤘
We hope you enjoyed this edition!
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