💰 Are AI companies making money? 🚨 Does Oppenheimer’s Story Offer a Warning About AI?

Plus: 🧰 Tools of the week, Top trends, and our 📚 learning resources.

July 25, 2023

This is a big week for tech companies and for AI as Big Tech releases earnings reports. Are Ai companies cashing in on the hype? if so, How? Also, should we learn from Oppenheimer’s Story and regulate AI comprehensibly or let it ride freely? Plus, don't miss our tools of the week, top trends, learning resources, and the latest news in Tech. Thanks for subscribing and sharing the love! 🚀"

  • 💰 Are AI companies making money, if so How?

  • 🎲 Today’s Trivia:

  • 🚨 Does Oppenheimer’s Story Offer a Warning About AI?

  • 🧰 AI Tools of the Day

  • 📚 The Learning Corner (Image/Video)

  • 💪🏽 Important AI News and Trends

  • 🌐 Web3 and Tech news

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🎲 Today’s Trivia:

What tech companies are reporting earnings this week? (See answer below)

💰 Are AI companies making money, if so How?

While some may consider AI to be merely hype, it's essential to acknowledge that this technology has undergone decades of development. Its use cases are now obvious thanks to advances in cloud computing, chips, and the vast amount of data available to train LLMs, and the ubiquity of computer devices. However, the real question lies in the profitability of these language models and deployed AI applications.

Venture capitalists have been throwing money at AI and ML developers anticipating fruitful times. That time is here, big tech companies start reporting their quarterly results this week, in what will be the third earnings season since the debut of ChatGPT last November — and investors are paying attention.

In essence, we may witness mixed earnings as monetization strategies significantly vary from one company to another. Here's a concise overview of what lies ahead:

  • AI companies are under pressure from investors to start generating revenue. This could lead to aggressive or unethical monetization tactics.

  • The main options are subscriptions, ads, or selling AI services to other businesses. OpenAI using subscriptions, Google/Microsoft likely ads.

  • Running AI systems consumes massive computing resources, so "free" tiers may erode over time.

  • Microsoft and SAP plan to charge premiums for AI add-ons, potentially billions in new revenue.

  • Startups pledge "responsibility" but profits usually win over ethics when money runs low.

  • Ad targeting with AI could mean further privacy loss and spam for users.

  • Some AI firms like OpenAI and Anthropic have nonprofit roots or benefit corporation status, but legal workarounds mean no guarantees.

In summary, AI companies face pressure to monetize which may lead to ethical conflicts, erosion of free access, and aggressive tactics that exploit users - though some firms have nonprofit roots that may balance profit motives.

🚨 Does Oppenheimer’s Story Offer a Warning About AI?

According to a Bloomberg article, AI and nuclear weapons both present potential existential threats if misused, AI poses uniquely complex challenges for safeguards and regulation. 

Unlike nuclear weapons development requiring massive governmental programs, AI technology is becoming increasingly accessible to independent actors across the world. And advanced AI systems' outcomes remain far less predictable than nuclear chain reactions. Despite ambiguities in controlling AI risks before reaching an irreversible point, enthusiasm and rapid innovation momentum continue building - as exemplified by the upcoming IPO for AI chip designer Arm.

Ultimately, while nuclear proliferation spurred debates parallel to current AI safety discussions, AI's decentralized advancement and opaque risks may hinder efforts to curb technological progress, even if terrible consequences seem possible.

🧰 AI Tools of the Day

We put Runway's powerful Runway Gen-2 AI video synthesis model to the test, bringing an image to life. The image was originally created by Midjourney for our newsletter yesterday.

Feeding the static Midjourney image into Gen-2, we were able to generate a stunning video, see below. Definitely, a tool to play with and add to your arsenal.

  • Photo Editor AI - Remove objects, people, blemishes, or text from your images in seconds. Supercharge your design skills with Artificial Intelligence.

  • LeiaPix - Turn any of your favorite images into stunning Depth 3D Animations.

  • Face Swapper - Swap faces from photos and videos automatically.

  • Post Influencer - Generate Linkedin Posts with AI, and automate your posts.

  • Background - Get Amazing AI Cover Images In Seconds.

  • Creasquare - All-in-one platform to create content, generate captions with Al, and schedule content on social media.

📚 The Learning Corner

Llama 2, a powerful language model, can be fine-tuned to become a dialog summarizer. The process involves downloading the model, converting it to Hugging Face format, and running a fine-tuning notebook.

💪🏽 Important AI News and Trends

🌐 Web3 and Tech news

🎲 Trivia ANSWER

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