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FoF Specials – Generative AI Gazette | Edition #6 – Oct 2023
Fintech Pulse: Monthly Digest (Oct 1st-31st)
Welcome to the grand finale of the AI Gazette for the year! 🎉
We're thrilled to have you with us, rounding off what has been an incredible journey through the cutting-edge world of artificial intelligence. As we gear up to bid farewell to 2023, we're here to make sure you're armed with all the mind-boggling, awe-inspiring, and downright fascinating AI news before we usher in a brand-new year of innovation!
Thank you for being a part of our AI Gazette community. Your enthusiasm fuels our passion, and your curiosity ignites our drive to keep exploring the uncharted territories of artificial intelligence. As we look back on the year that was, we're filled with gratitude, excitement, and anticipation for the limitless possibilities that lie ahead.
Now, get ready to travel through the virtual corridors of innovation – because in the world of AI, there's always something incredible just around the corner.
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Before we plunge headlong into AI wonders that made October headlines buzz, we've got an exciting update for you!
Say hello to customized versions of ChatGPT called GPTs, where the power of personalization is in your hands 👋
In a major breakthrough, OpenAI introduced GPTs (Generative Pre-trained Transformers) that allow users to create customized versions of ChatGPT tailored to their specific needs. This innovative feature enables individuals to combine instructions, additional knowledge, and a wide range of skills to make ChatGPT more helpful and versatile in various aspects of their lives.
The best part?
There is no coding expertise required to build your own GPT.
Whether you want to teach your kids math, learn the rules of a board game, or design stickers, GPTs offer limitless possibilities. OpenAI is actively encouraging community participation, believing that the most remarkable GPTs will emerge from builders in the community.
To facilitate collaboration, OpenAI is launching the GPT Store, where creators can share their GPTs with others and gain recognition for their contributions. Privacy and safety remain a top priority, as users maintain control over their data, and measures are in place to prevent the sharing of harmful content. GPTs signify a new era of personalized AI experiences, where users can shape AI behavior and unlock its potential in their everyday lives! 🤖
AI aficionados, tech trendsetters, and all the curious souls exploring the realms of artificial intelligence - Edition #6 is here to cater to your every curiosity! 📰
We've sifted through the digital haystack to bring you the Top 10 stories from the month of October:
Microsoft made waves in the tech world last month with two exciting announcements. First, it officially declared the “general availability” of its Copilot generative AI assistant in enterprise versions of its Microsoft 365 suite of productivity apps, testing the willingness of companies to pay a high fee for the technology. Then, teaming up with Siemens, it introduced an AI-powered assistant, Siemens Industrial Copilot, aimed at improving human-machine collaboration in manufacturing – an initial step in the plan to drive cross-industry generative AI adoption.
Generative AI continues to be embedded in the platforms we use every day – LinkedIn rolled out new AI features, including its pilot for the AI-assisted “Recruiter 2024” tool for recruiters and AI-powered coaching in its LinkedIn Learning section. Meanwhile, Klarna unveiled an innovative AI-driven shopping lens feature, integrated with technology from OpenAI, that allows users to make instant purchases by simply taking a photo of desired products, instantly making them available within Klarna’s mobile app.
Another firm that was seen collaborating with OpenAI was PricewaterhouseCoopers LLP (PwC) to integrate AI into its advisory services. This AI system is designed to alleviate the increasing compliance burden and complexity businesses face globally, especially in the tax, legal, and human resources domains.
Enterprise-focused AI solutions were also on the mind for two other players – Oracle announced the limited availability of its Oracle Cloud Infrastructure (OCI) Generative AI service, engineered to help organizations automate end-to-end business processes, improve decision-making, and enhance customer experiences while keeping their data secure and private. At the same time, IBM launched watsonx Code Assistant, a generative AI-powered assistant designed to accelerate development and help enterprise developers and IT operators code more quickly and more accurately using natural language prompts.
While on the topic of development, Canadian startup Tenstorrent selected Samsung’s chip manufacturing department, Samsung Foundry, to develop its next-gen chips – a product that will be a chiplet to be paired with other chiplets in one package.
Other regions have also been making moves to embrace the AI frenzy. Saudi Arabia-based King Abdullah University of Science and Technology (KAUST) teamed up with two Chinese universities – the Chinese University of Hong Kong, Shenzhen (CUHKSZ) and the Shenzhen Research Institute of Big Data (SRIBD) – to create the Arabic-focused AI system AceGPT. On the other hand, the Monetary Authority of Singapore (MAS) announced the 19 finalists (12 via the Local Programme and 7 from the International Partner Programme) for the “Artificial Intelligence (AI) in Finance Global Challenge” under the 2023 Global FinTech Hackcelerator. During the 10-week programme, these finalists will collaborate and network with corporates, investors, and industry professionals to further refine their solutions.
Generative AI Word Of The Week: Retrieval Augmented Generation (RAG)
Retrieval-augmented generation is an AI framework in natural language processing that makes text better by combining two types of models: one that finds information (retrieval-based models) and one that creates text (generative models). By using this, one can better control what data a text-making model uses to answer questions.
That's all for now!🤘
We hope you enjoyed this edition!
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