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Tech investments continue to grow, with some industries becoming more aggressive than others. Additionally, Microsoft is not only developing its own AI models but also supporting OpenAI financially and through cloud services. We also bring you the latest on Apple's enhancement plans.

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• 📰 News and Trends.

• Microsoft’s MAI-1, The Next Giant In AI

• Apple Enhances iOS18 With AI

• Publications I am currently reading and recommending

• 🧰 AI Tools (Productivity V)

• 2024 AI Spending Insights and Strategic Financial Management

📰 AI News and Trends

• ChatGPT for CRISPR’ creates new gene-editing tools (Nature)

• AI engineers report burnout and rushed rollouts as ‘rat race’ to stay competitive hits tech industry (CNBC)

• Could a better understanding of how infants acquire language help us build smarter A.I. models? (NYT)

• The teens making friends with AI chatbots (TheVerge)

🌐 Other Tech news

• Servers to support tech's data appetite will increasingly run on atomic energy (Nikkei)

• Is Tesla Bipolar? Read the wild email Tesla is sending to suppliers amid Supercharger chaos (Electrek)

• Google bans advertisers from promoting deepfake porn services (TheVerge)

• TikTok Tells Advertisers: ‘We Are Not Backing Down’ (NYT)

• A US judge who will decide Google’s fate in a historic antitrust trial suggested it was “odd” for the company to say it has the best search engine but also pay Apple billions to lock out rivals (Wired)

Microsoft’s MAI-1, The Next Giant In AI

Microsoft is developing a new AI language model, MAI-1, set to rival those of Google and OpenAI. The model, led by Mustafa Suleyman, a co-founder of Google DeepMind and former CEO of Inflection, is in the training phase with its capabilities and specific uses yet to be defined. It's projected to debut at the Build developer conference later this month. MAI-1, described as "far larger" than Microsoft's previous models, has about 500 billion parameters, in contrast to OpenAI's GPT-4 which has one trillion. This initiative is part of Microsoft’s broader strategy to enhance its AI offerings, following significant investments in OpenAI and the integration of ChatGPT across its productivity software. While Microsoft develops its own AI technologies, it also diversifies its AI portfolio by supporting OpenAI. This strategy helps mitigate risks associated with relying solely on internal developments.

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Apple Enhances iOS18 With AI

Apple is preparing to introduce significant AI enhancements to iOS 18 with its Ajax large language model (LLM), focusing on improving Siri, Safari, Spotlight, and Messages. These updates will feature on-device AI capabilities for better privacy, including text summarization in Safari and enhanced response generation in Siri. With these advancements, Apple aims to provide practical benefits to users while maintaining strong data privacy by processing information locally. These features are set to be unveiled at the upcoming Worldwide Developers' Conference, emphasizing both functionality and privacy.

🧰 AI Tools

Productivity V

• GPT for Sheets and Docs - Integrate GPT in your everyday tools.

• Lex - Web based AI writing tool.

• Smart Write & Smart - knowledge-aware AI writer.

• DraftLab - Gmail copilot.

• GPT-Trainer - A must-try AI Agent Platform

• Text Blaze - Automate Anything With AI & Use it Anywhere.*

2024 AI Spending Insights and Strategic Financial Management

Ramp, a corporate finance platform, oversees significant business spending and has observed key trends in Q1 2024 despite ongoing economic pressures like inflation. Notably, customer expenditures have increased, reflecting broader market trends of sustained consumer spending. Businesses are increasingly investing in AI, with AI-related spending surging by 293% year-over-year, notably higher than other tech investments. This investment focuses on both broad and narrow AI tools, enhancing automation, cost efficiency, and decision-making capabilities.

Significantly, non-tech sectors such as healthcare and financial services are rapidly adopting AI, outpacing tech companies in spending growth. These industries are leveraging AI for specific applications like automating radiology workflows and financial advice, showing a clear shift from experimental to operational use of AI.

Meanwhile, traditional finance tools also saw growth, reflecting a heightened focus on automating compliance and managing finances more efficiently. Business travel expenses were carefully managed, indicating a strategic approach to spending amidst economic uncertainties.

Overall, the data suggests a strong start to 2024, with businesses keenly investing in technology and strategic cost management to maintain competitiveness.