Sequoias Sonya Huang: Generative AI hype absolutely justified
So despite the hype around the space, there’s actually a vast greenfield for VCs and founders tackling the application layer, which is where she’s focused now, Huang explained. A number of categories, like education, AI companionship, consumer social, and bio, haven’t produced clear market winners yet, she said. “Generative AI is well on the way to becoming not just faster and cheaper, but better in some cases than what humans create by hand,” they wrote, in the blog post. Grady and Huang emphasize the potential of generative AI to revolutionize industries such as art, design and media by allowing for the creation of unique, personalized content on a scale that would be impossible for humans to achieve alone. Some founders are iterating on the in-editor, get-help-while-you’re-coding experience Copilot popularized, trying different interaction patterns or different models. Think of Replit’s Ghostwriter, Sourcegraph’s Cody, TabNine and others.
These diffusion models marry the best elements of GANs and transformers. Exceptionalism is one of the most promising areas for startups because it falls outside the scope of the large office suites. Brands and eventually individuals will want to fine-tune underlying models to capture their own unique voice. In Jasper’s premium Yakov Livshits Boss Mode you can add “tone of voice” keywords to your prompt (e.g. “Elon Musk”) much as you can add style suggestions (e.g. “digital art”) in image generation apps. But organizations and individuals want their writing to sound differentiated. We value a high-quality writer for their voice, not just their word count.
Video related applications
In October, Jasper, a copywriting AI-text generation application, raised a $125m Series A round on a $1.5 billion post-valuation led by Insight Partners. The same month, Stability.AI, maker of text-to-image generator, Stable Diffusion, received $100m of Series A funding on a $1 billion post-valuation led by Coatue Management, Lightspeed Venture Partners and O’Shaughnessy Ventures. Microsoft’s investment is a competitive move versus rival Google, who invested in DeepMind in 2014. We’re seeing new use cases every day that demonstrate how AI will change the way we work, create and play.
GitHub’s AI-powered companion for developers, suggesting the code you might want to write next, is a hit in more ways than one. It’s beloved by engineers, attracting more than a million within about a year and delivering a substantial boost in productivity. (Even Yakov Livshits if you’re a top engineer, it might write half your code or more.) It also stands to become a commercial blockbuster. Charging $10-19 per seat per month, Copilot could grow to generate $1 billion or more in annual revenue among GitHub’s 100 million users.
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OpenAI makes another move toward monetization by launching a paid API for ChatGPT. Instacart, Snap (Snapchat’s parent company) and Quizlet are among its initial customers. The research was conducted using the latest version, but not the model currently in preview based on OpenAI’s GPT-4. Starting July 6, all existing OpenAI developers “with a history of successful payments” can access GPT-4.
An Australian mayor has publicly announced he may sue OpenAI for defamation due to ChatGPT’s false claims that he had served time in prison for bribery. This would be the first defamation lawsuit against the text-generating service. OpenAI allows users to save chats in the ChatGPT interface, stored in the sidebar of the screen.
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Founder of the DevEducation project
A prolific businessman and investor, and the founder of several large companies in Israel, the USA and the UAE, Yakov’s corporation comprises over 2,000 employees all over the world. He graduated from the University of Oxford in the UK and Technion in Israel, before moving on to study complex systems science at NECSI in the USA. Yakov has a Masters in Software Development.
Open Banking platforms like Klarna Kosma also provide a unique opportunity for businesses to overlay additional tools that add real value for users and deepen their customer relationships. We advocate for modernized financial policies and regulations that allow fintech innovation to drive competition in the economy and expand consumer choice. Well, I would be alarmed if the hype was really high and the results weren’t there. The hype is high, and I think part of that is, again, people emotionally want to attach onto something that gives them hope and optimism, but the results are there as well.
The raw ability of AI systems to produce content places an even larger premium on our judgment and critical thinking skills. A real presentation standout at the moment is Tome, which is generative AI native, not a bolt on. It is currently in beta but has the ability to generate entire slide decks from a prompt, make variations of individual slides or add new ones and rewrite lines of text. This is the kind of magical work experience that people expect when they see Midjourney or ChatGPT and it may be that slide decks will be its first natural home.
Generative AI: A Creative New World
Several major school systems and colleges, including New York City Public Schools, have banned ChatGPT from their networks and devices. They claim that the AI impedes the learning process by promoting plagiarism and misinformation, a claim that not every educator agrees with. Apple is developing AI tools to challenge OpenAI, Google and others. The tech giant created a chatbot that some engineers are internally referring to as “Apple GPT,” but Apple has yet to determine a strategy for releasing the AI to consumers. The Google-owned research lab DeepMind claimed that its next LLM, will rival, or even best, OpenAI’s ChatGPT. DeepMind is using techniques from AlphaGo, DeepMind’s AI system that was the first to defeat a professional human player at the board game Go, to make a ChatGPT-rivaling chatbot called Gemini.
- The models started understanding a pattern in the data fed to them and generated a new output.
- Being a judge is very different because you’re evaluating what the parties present to you as the applicable legal frameworks, and deciding how new, groundbreaking technology fits into legal frameworks that were written 10 or 15 years ago.
- The number of customers who are now deeply deployed on AWS, deployed in the cloud, in a way that’s fundamental to their business and fundamental to their success surprised me.
- What I believe is most important — and what we have honed in on at Zest AI — is the fact that you can’t change anything for the better if equitable access to capital isn’t available for everyone.
- The auditing firm has thousands of models in deployment that are used for its customers’ tax returns and other purposes, but has not come across a suitable system for managing various MLops modules, he said.
Moreover, when coupled with NLP technologies, even greater democratization can result as inexperienced investors can interact with AI systems in plain English, while providing an easier interface to financial markets than existing execution tools. Overall, we see fintech as empowering people who have been left behind by antiquated financial systems, giving them real-time insights, tips, and tools they need to turn their financial dreams into a reality. Steven Frank is a partner at the law firm Morgan Lewis, specializing in intellectual property and commercial technology law.
Partnering with Tavus: AI-Personalized Videos
Financial technology or “fintech” innovations use technology to transform traditional financial services, making them more accessible, lower-cost, and easier to use. The financial technology transformation is driving competition, creating consumer choice, and shaping the future of finance. Hear from seven fintech leaders who are reshaping the future of finance, and join the inaugural Financial Technology Association Fintech Summit to learn more. We organized the map by modality, which I thought was most relevant just because it’s the enabling technology that is creating the application within each box.
Previously she was at the San Francisco Examiner, covering tech from a hyper-local angle. Before that, her byline was featured in SF Weekly, The Nation, Techworker, Ms. Magazine and The Frisc. The ways Zia Faruqui (right) has weighed on cases that have come before him can give lawyers clues as to what legal frameworks will pass muster. I’m very curious if I can train a model on my newsletter and have it write my newsletter and then submit it to my editor to see if my editor can tell the difference of who wrote it. Although maybe I shouldn’t do that because I’d be out of a job one day.
Where Word over-indexed on formatting, Excel delivered increasingly sophisticated functionality to the point that Excel formulas are now the world’s most popular programming language. For geeks, Microsoft’s introduction of LAMBDA functions in 2021 makes Excel Turing complete. If you are following the amazing demos people are making with Midjourney, Stable Diffusion and ChatGPT, you might think the latest wave of AI is all about fun new modes of communication. With allostasis, the system changes from order to disorder to reorder, essentially rebalancing at a new point, a new normal. One example of allostasis can be seen in our collective recovery in the aftermath of COVID—19.