'Meta'morphosis of AI: Meta's MTIA & Llama 3
'Meta'morphosis of AI: Meta's MTIA & Llama 3
FoF Specials – Generative AI News Nexus | Edition #4 (April 2024)
Have you ever wondered what happens when AI steps out of the computer and into our world? This month's edition dives into a realm where technology isn't just ones and zeroes, but a force that can sing, speak, and even watch over your money. Scroll down to explore the cutting edge of AI and discover a future where tech gets seriously AI-wesome!
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Today’s ‘ÀI’ la carte:
Meta AI Goes Rogue with LLaMA 3
Algorithm A-List: 10 Must-Know AI Headlines This Month!
Code-undrum decoded, sorted by segment!
AI Alchemy: AI Resources for the Curious Minds
Meta AI Goes Rogue with LLaMA 3: Your New Co-worker, Researcher, and Artist in One
Meta's latest upgrade, powered by the mind-boggling LLaMA 3 language model, isn't just a tool – it's a creative partner that understands your most imaginative ideas and helps you bring them to life.
Dreamt it? Type it! Gone are the days of searching for the perfect image. Just tell Meta AI what you have in mind, from a surfing sloth to a grandma skydiving, and watch even your most imaginative ideas come to life as an image or animation.
Social Media Makeover: Ditch the boring stock photos and generic memes! Meta AI can help you create custom content that will make your social media feeds pop. Think personalised profile pics or hilarious, one-of-a-kind memes.
Absorb and summarise information faster than any human could: Give it a lengthy article or report, and it'll whip up a concise, easy-to-digest summary in no time.
Answer questions with depth and nuance: It doesn't just regurgitate facts; it understands context and provides thoughtful, well-informed responses.
But Meta isn't stopping there. They're open-sourcing the assistant's code, allowing developers to build on and adapt it. Available across Facebook, Instagram, WhatsApp, and Messenger, Meta AI puts the power of artistic expression right at your fingertips. Get ready for a new era of communication, collaboration, and creativity!
🔝 Top 10 AI Updates from April 2024 🔝
Tailored AI solutions are the focus:
↳ OpenAI expanded its Custom Model program, allowing enterprises to create personalised generative AI models for specific uses.
↳ In a similar vein, Meta unveiled its latest custom artificial intelligence chip, the Meta Training and Inference Accelerator (MTIA).
Reshaping how we hear and appear:
↳ Amazon Music's Maestro, an AI playlist generator, allows US customers to create playlists using spoken or written prompts, even emojis.
↳ Meanwhile, eBay's iOS app introduces a "shop the look" section, powered by AI, suggesting fashion ideas based on users' shopping history.
New models dropped like clockwork:
↳ Meta unveiled Llama 3, the latest addition to its open generative AI model series.
↳ In sync with this pace, Mistral AI introduced Mixtral 8x22B, boasting an impressive 176 billion parameters and a 65,000 token context length.
Harnessing AI for varied use cases:
↳ Finastra and Wells Fargo joined forces with TradeSun to infuse AI-driven ESG insights and risk management solutions into trade finance.
↳ Delving deeper into AI's capabilities, Mastercard launched Scam Protect, utilising AI to tackle scams and fraud, while collaborating with Verizon, NatWest, and the Global Anti-Scam Alliance to bolster fraud prevention throughout the financial landscape.
Other wild rides that jolted the AI-scape last month:
↳ The UK's Competition and Markets Authority initiated inquiries into whether the close ties and hiring practices involving Microsoft, Amazon, and three AI startups complied with merger rules.
↳ Meanwhile, AI startup Perplexity raised $62.7M in a new funding round, valuing the company at between $2.5B and $3B.
Now, let's decode the ‘code’-undrum –
Opening up its AI playground, OpenAI was seen giving businesses custom tools to build their dreams and fueling the flames of innovation with a fresh round of funding:
OpenAI declared that users can now access ChatGPT without needing an account. Nonetheless, for those who wish to refrain from allowing the AI chatbot to utilise their data for enhancement purposes, opting out is an available choice.
OpenAI announced that users of premium ChatGPT subscriptions, including ChatGPT Plus, Team, or Enterprise, now have access to an updated and improved iteration of GPT-4 Turbo.
The OpenAI Startup Fund quietly raised $15M. The capital was transferred to a legal entity known as a special purpose vehicle (SPV), linked with the OpenAI Startup Fund.
Need a playlist curated by AI or an assistant that tackles your emails? Gear up for a future-forward adventure in this month's Startup Showcase, where AI tools are ready to change your game!
Spotify launched an AI-powered tool that allows users to generate customised playlists. AI Playlist is available in beta to Spotify Premium subscribers on Android and iOS in the UK and Australia.
Quora-owned AI chatbot platform Poe introduced a new revenue model that allows creators to set a per-message price for their bots. The new model aims to support developers with substantial costs and encourage the development of new types of bots.
Privacy-centric browser Brave launched Leo, its AI assistant, to iPhone and iPad users, following successful launches on Android and desktop. It is capable of answering questions, summarising pages, and creating content.
AI startup Hugging Face released a benchmark test called Open Medical-LLM in collaboration with Open Life Science AI and the University of Edinburgh. This test aims to evaluate the performance of generative AI models in healthcare-related tasks.
Get ready for a mind-blowing download of Big Tech's latest AI breakthroughs, packed with revolutionary partnerships, mind-bending AI tools and innovations, and next-level advancements!
Microsoft's AI Mastery:
↳ Cloud Software Group and Microsoft sign an eight-year strategic partnership. The agreement will strengthen the go-to-market collaboration for the Citrix® virtual application and desktop platform and support the development of new cloud and AI solutions with an integrated product roadmap.
↳ Microsoft launched a lightweight artificial intelligence model, called Phi-3-mini, as it looks to attract a wider client base with cost-effective options. Phi-3-mini is the first of the three small language models (SLM), designed to perform simpler tasks, making it easier for use by companies with limited resources.
↳ The Coca-Cola Company and Microsoft announced a five-year strategic partnership to align Coca-Cola’s core technology strategy systemwide, enable the adoption of leading-edge technology, and foster innovation and productivity globally.
↳ Cognizant and Microsoft expanded their partnership with the goal of making Microsoft’s generative AI and Copilots available to millions of users, to transform enterprise business operations, enhance employee experiences and accelerate cross-industry innovation.
Intel's Ingenious AI Initiatives
↳ Intel introduced the Intel Gaudi 3 accelerator to bring performance, openness and choice to enterprise generative AI (GenAI), and unveiled a suite of new open scalable systems, next-gen products and strategic collaborations to accelerate GenAI adoption.
↳ Infosys Topaz — an AI-first set of services, solutions and platforms that helps enterprises accelerate business value using generative AI technologies — will adopt Intel-based solutions, including Intel Xeon processors, Intel Gaudi accelerators, Intel Core Ultra Processors, software, and other products, to enable customers to integrate Gen AI into their businesses and adhere to the emerging guardrails of AI.
↳ India’s leading telecom provider, Bharti Airtel, collaborated with Intel’s latest artificial intelligence (AI) accelerator solution to enhance the telecom experience of its subscribers.
Other BigTechs AI Marvels
↳ Amazon Music is now testing Maestro, an AI playlist generator, allowing US customers on both iOS and Android to create playlists using spoken or written prompts — which can even contain emojis.
↳ AWS launched Custom Model Import, a new feature in Bedrock, AWS’ enterprise-focused suite of generative AI services. The feature lets organisations import and access their in-house generative AI models as fully managed APIs.
The recent Google Cloud Next event is all the rage! Don't miss out on "A Sneak Peek Into Google’s AI Strategy" – it's where the fun begins!
The AI Finance Fusion has financial players going all-in on AI, from fraud-fighting to robo-advisors powered by the cloud:
First Abu Dhabi Bank (FAB) entered into a partnership with Microsoft to develop a new range of banking capabilities powered by AI. The bank is tapping Microsoft’s cloud-based Azure AI services to build and operate what it calls an “AI Innovation Hub”, to further integrate the technology into its product suite and back-end operations.
Jamie Dimon, CEO of JPMorgan Chase, in his annual letter to shareholders, compared the potential impact of artificial intelligence to innovations like the internet. He also mentioned the various use cases where JPMorgan Chase is implementing AI, including marketing, fraud and risk.
AI-based financial crime detection startup ComplyAdvantage acquired Golden Recursion to accelerate its AI capabilities in providing financial crime insights.
Zilch, the ad-subsidised payments network (ASPN), extended its collaboration with cloud provider Amazon Web Services (AWS) to accelerate the rollout of AI innovation across the Zilch proposition.
Danish challenger bank Lunar trials voice-enabled AI-powered chatbot - voiced by the CEO - with users asking verbal questions and getting verbal answers.
The Fintech X AI revolution continues. Explore the latest and greatest with our carousels >>>
This month's AI Hardware segment is all about wearable tech that literally fits in your pocket (and on your face)!
Humane's AI-powered wearable, called the AI Pin, gets launched. AI Pin from Humane AI is a tiny wearable device that comes in two parts, priced at $699.
Rabbit officially launched its AI-powered device R1 with four services available to use on launch – Spotify, Uber, DoorDash, and Midjourney.
Meta announced multimodal capabilities for its Ray-Ban smart glasses. With the latest AI capabilities, users can ask the glasses to translate text, identify objects, or even give other contextual information.
AI Regulation steps in to make sure your robot buddies stay on the good side. Explore how governments are taming the frontier of artificial intelligence, building guardrails for safety and ethics. ⚖️
The UK and US signed a landmark artificial intelligence (AI) agreement to collaborate on testing and mitigating the risks of AI models. The deal is the first global bilateral agreement on AI safety, bringing together the UK and US governments to share technical knowledge, information and talent on AI safety. The deal was signed by UK Technology Secretary Michelle Donelan and US Commerce Secretary Fina Raimondo in Washington.
The UK Competition and Markets Authority (CMA) published an “Update Paper” outlining its evolving views on AI foundation models as well as its approach to supporting Government consideration of possible regulation.
Canadian Prime Minister Justin Trudeau unveiled a C$2.4B funding package from the country’s upcoming budget to “seize every opportunity in the economy of the future” while also ensuring AI is developed and implemented in a safe and responsible manner.
The world of tech talk and gadgets galore might look like a binary maze, but fear not! We're here to guarantee the techno-lingo won't scramble your neural network.
Come aboard each edition as we decode some AI terms:
And that's a wrap 👋
We hope this AI expedition has sparked your circuits, filled you with wonder, and ignited a hunger for more! Keep your data lines active with our Generative AI News Nexus, because we're committed to serving up a monthly feast of AI marvels!
As thanks for cruising with us through the AI journey together, grab these awesome resources to supercharge your AI engine and keep the momentum going:
AI Foundation Models - CMA
It’s for Real: Generative AI Takes Hold in Insurance Distribution - Bain
AI Can Cut Costs But at What Cost to the Workforce Experience? - Deloitte
The path to generative AI value: Setting the flywheel in motion - PWC
AI for Impact: The Role of Artificial Intelligence in Social Innovation - WEF
Artificial Intelligence Index Report 2024 - Stanford University
AI Update - FCA
The Economic Impact of Generative AI - Google
Generative AI in payments - Visa
Riding the next generative AI wave - Capgemini
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