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- Predicting the future isn’t magic, it’s Artificial Intelligence
Predicting the future isn’t magic, it’s Artificial Intelligence
And same for the Past
Business Bloopers
February 08, 2024
Todays Business Bloopers:
👑 Mark Zuckerberg Brags He Will Be AI God King Because We Already Gave Him All Our Data
🙇♂️ Starting a 2024 company without AI is unthinkable
📜 AI helps reveal ancient texts in Vesuvius Challenge
❤️ My favourite AI tools this week
🌍 AI News Roundup
🐦 That’s a wrap
Read Time: 5 min
Meta's stock price surged 20%, closing at $474.99 on Friday, setting a record for the biggest single-day increase in U.S. stock history. The company recovered from previous losses, adding $200 billion to its value and substantially enhancing founder Mark Zuckerberg's wealth.
The Details:
With Meta wanting to have a competitive edge within the AI industry where they compete with big shot publishers like OpenAI (ChatGPT Company) raises considerations around data privacy and the competitive advantage of having access to such a large dataset that Facebook, Instagram and Threads hold.
Meta's profits surged to $14 billion, attributed to cost-cutting measures and a resurgence in advertising revenue. The company is directing significant investments towards the development of virtual reality (VR) and artificial intelligence (AI) technologies.
Zuckerberg emphasized Meta's commitment to leading in the AI sector, highlighting the vast amounts of user-generated content on its platforms as a critical asset. This data, encompassing posts, comments, images, and videos, surpasses the volume of the Common Crawl dataset and is instrumental in training Meta's AI models.
Strategic Financial Decisions: For you tech nerds out there Meta has announced its first-ever dividend of 50 cents per share and a $50 billion share buyback, reflecting its financial health and investor confidence.
My Thoughts: With Mark Zuckerberg having access to 2 of the biggest social media platforms in the world definitely raises concerns whether he will abuse this power to splurge on his AI projects or stay true to users privacy and build Meta’s AI tools ethically
The Bloopers: Mamoon Hamid and Ilya Fushman, seasoned venture capitalists, share insights into their journey of revitalizing the iconic venture firm Kleiner Perkins, with a strong emphasis on AI investments. They discuss the transformative impact of AI across various sectors and their strategic approach to fostering innovation through early-stage investments.
The Details:
Mamoon and Ilya have successfully rejuvenated the firm's brand by strategically investing in high-potential companies like Rippling, Loom, and Figma, integrating AI advancements to drive growth and innovation.
Recognizing the pivotal role of AI in shaping the future, they have prioritized investments in AI, viewing it as a catalyst for productivity leaps and technological breakthroughs across industries.
Contrasting with the trend of large-scale funding, they advocate a back-to-basics approach, concentrating on early-stage startups where AI can significantly enhance capabilities and disrupt traditional business models.
My Thoughts: I totally agree with this. There are so many AI tools out there to enhance your business that can help you save time, money and stress. AI tools go far beyond ChatGPT and other chatbots. For example, I am leveraging AI to help me build software that wouldn’t have been possible without AI. The sky is the limit with AI nowadays and its only getting better
AI Research
The Bloopers: AI algorithms just unlocked text from a burnt, 2,000-year-old scroll from Herculaneum's vast Roman library, buried by the eruption of Mount Vesuvius' in 79 A.D.
The Details:
A $1M contest sponsored by former GitHub CEO Nat Friedman challenged teams to extract Greek text from scans of damaged scrolls called the ‘Herculaneum papyri’.
Hundreds of the scrolls were excavated in the 18th century but were previously undecipherable due to damage from the eruption.
The winning software used AI to detect patterns missed by humans, revealing over 2,000 readable letters.
My Thoughts: While AI is being hailed as the future — don’t underestimate its ability to uncover the past. The newfound ability to decipher texts and artifacts previously lost to time could completely rewrite our knowledge of history. Literally!
❤️ MY FAVOURITE AI TOOLS THIS WEEK
🤖 Reiki - The most fun AI Agent builder. Build your own AI agent in a game-like experience (link)
💼 Musicfy - Use AI to create music with your voice (link)
📃 Theodore AI - Transform complex text into simple content with real-world examples (link)
🔬 Galileo AI - Generate UI designs at lightning speed with AI, now open to the public (link)
🌎 AI NEWS ROUNDUP
Last year, fake nudes increased by 290% on the top 10 hosting websites and an overwhelming majority believe it should be illegal to create deepfake porn using AI. This is especially scary when it could happen to anyone
In an interview, Trump labeled AI as one of the most dangers, expressing concern over its potential to manipulate finances and media, especially in elections. He cited an incident with a fake robocall imitating Biden and his own experience with unauthorized use of his image, highlighting the risks of AI in deception. Trump, eyeing the 2024 Republican nomination, touched on various topics, including the economy, during his conversation with Bartiromo.
🌄 Meta will flag AI-created content.
Lots of AI-generated images have been getting spread around Facebook recently. This is why The Meta is introducing watermarks for AI-generated images on its platforms, such as Facebook, Instagram, and Threads. Users who don't reveal that their videos or audio are AI-generated will face consequences. This action is in preparation for the upcoming elections and addresses widespread worries about how AI-created media could mislead people.
Microsoft has launched a new facial recognition feature called Face Check for its Entra Verified ID digital identity platform.
Face Check allows businesses to match a user's selfie to their government ID or employee credentials, providing an extra layer of security for sensitive operations like password resets.
OpenAI is adding watermarks and metadata to images generated by DALL-E 3. The watermarks help identify the source of images by including details about which AI system was used to create it.
OpenAI is implementing standards from the Coalition for Content Provenance and Authenticity (C2PA) to include this metadata invisibly in images.
Funny enough, just as I am about to post this Elon Musk has committed to funding "whatever amount is useful” to a project (named The Vesuvius Challenge) that uses AI to decode ancient Roman scrolls. Which was talked about above.
💭 Quote of the Week
❝
Predicting the future isn’t magic, it’s Artificial Intelligence
Dave Waters
🐦 THAT’S A WRAP
Keep Embracing the Future, One Byte at a Time! 🔄
See you next week
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