💼 AI Creates More Jobs Than It Replaces

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Welcome back Everyone 👋,

Pika App is here to revolutionize AI video creation, and we share its story. We also delve into the release of Amazon Q, specifically designed for enterprise use. Plus, explore our new section dedicated to navigating the dynamic realm of Custom GPTs, and discover how AI is fostering more job opportunities than it displaces.

This is what’s going on:

• Pika may become Next Hollywood’s Nightmare.

• 🏗️ Professional AI website builder (B12)

• Amazon Q is here, AI Expert for Workplace Use.

• 🤖 Today’s Custom GPT is…

• AI Creates More Jobs Than It Replaces

• 🤔 What Does that even Mean? (LLM)

• 🧰 AI Tools of the Day (Video Editing)

💪🏽 Important AI News and Trends.

• Meta introduces Cicero - the First AI to play at a human level in Diplomacy (Meta)

• ChatGPT for chemistry: AI and robots join forces to build new materials (Nature)

• OpenAI unlikely to offer board seat to Microsoft (Yahoo)

• Now you can Create Realistic Avatars from Videos (Gaussians)

• Sports Illustrated Published Articles by Fake, AI-Generated Writers (Futurism)

🌐 Web3 and Other Tech news.

• Internet use does not appear to harm mental health (FT)

• Soldiers Expose Barracks Full of Mold, Bed Bugs, and Unsafe Food (Vice)

• How robotic honeybees and hives could help the species fight back (MIT)

• Cyber Monday spending hits an all-time record $12.4 B (Axios)

• Social Media scrolling damages are bigger than we think (TC)

• Google’s new geothermal energy project is up and running (TheVerge)

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Pika may become Next Hollywood’s Nightmare.

Last winter, Demi Guo and her Stanford Ph.D. classmates attempted to create a movie using generative AI for Runway's "AI Film Festival," but were unsuccessful. Motivated by this challenge, Guo and Chenlin Meng dropped out of Stanford to start Pika, aiming to simplify AI video generation. Pika quickly gained traction, with 500,000 users creating millions of videos weekly. This led to rapid investment, including a $35 million Series A round, valuing Pika at $200-300 million.

Initially focused on anime, Pika expanded to realistic videos and launched a web app, integrating unique features like embedding text into videos. Pika, primarily using GPUs, including some from investor Nat Friedman's Andromeda cluster, is enhancing its AI model and plans to expand its team. While currently free, Pika may introduce a tiered subscription model, targeting everyday consumers rather than professional filmmakers.

With the advent of advanced tools like Pika, social media engagement is poised to rise significantly. As users gain the ability to create highly engaging videos easily, the content landscape shifts towards "by us, for us" media. This trend could potentially divert attention from traditional big-screen productions, favoring personalized, user-generated content that resonates more with everyday viewers.

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Amazon Q is here, AI Expert for Workplace Use.

Amazon has launched "Amazon Q," an AI chatbot tailored for workplace use, focusing on tasks like document summarization and policy queries. Developed by Amazon Web Services, it aims to compete with corporate AI tools like Copilot and Google’s Duet AI. Emphasizing data security, Amazon Q integrates multiple AI systems through the Bedrock platform and is priced at $20 per user per month. The launch is part of Amazon's broader initiative to strengthen its position in AI, including investments in AI startups and partnerships for advanced AI computing infrastructure.

🤖 Today’s Custom GPT is…

We are going to test this new section which will share an amazing Custom GPT for you to take for a spin, if it gets lots of love (lots of clicks) we’ll keep it, otherwise, we will not bother you with it and get rid of it.

What is Custom GPT? A "Custom GPT" is a version of OpenAI's Generative Pre-trained Transformer (GPT) tailored for specific tasks or industries. It's modified to handle particular data types or topics better, enhancing its performance and relevance in those areas.

Name of “GPT of the DAY”: Stock Investment Advice- Access it Here

This GPT offers a unique insight into the stock market, tracking investments made by politicians and Congress members. It compares these with the strategies of hedge funds and major investors, alongside market trends, to deliver comprehensive market sentiment analysis and informed stock investment recommendations.

Cheat Sheet of the Week

Top 10 Generative AI Categories, per CBInsights - Source

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AI Creates More Jobs Than It Replaces

A study released by the European Central Bank refutes the idea that AI significantly reduces human jobs, showing that in Europe during the 2010s, occupations exposed to AI actually saw an increase in employment. Key points include:

1. Approximately 25% of European jobs were highly exposed to AI, but this didn't lead to widespread job loss.

2. AI exposure correlated with a 2.6% to 4.3% rise in employment in certain sectors and occupations.

3. High-skill jobs and younger workers benefited most from AI exposure, contrasting with the displacement seen in medium-skilled jobs in past technology shifts.

4. AI's impact on wages was less clear, with some evidence of slightly worse wage growth in AI-exposed roles.

5. The effect of AI on employment varied across countries, influenced by factors like technological adoption, education, and regulatory environments.

This suggests that AI is creating more jobs than it eliminates, especially in high-skill areas and for younger workers, by complementing rather than replacing human labor.

🤔 What Does that even Mean?

LLM stands for Large Language Model: It's a type of artificial intelligence model that is designed to understand, generate, and respond to human language. These models are "large" because they are trained on vast amounts of text data, enabling them to recognize patterns, predict the next word in a sentence, and even create coherent and contextually relevant text on their own.

🧰 AI Tools of the Day

Video Editing.

• Nova AI - Cut, trim, collide your clips, add subtitles, translate, and more. Entirely online, no installation is needed.

• Munch - Extract the most engaging and impactful clips from your long-form videos.

• Pixop - One Click AI Video Remastering for Broadcast Media.

• CapCut - Create, edit, and Includes graphic design and team collaboration.

We have added over 100 tools to our AI tools database. Get 250+ Tools free here.

📰 Publications I am currently reading and recommending:

• Chartr - The world explained in Charts.

• Growth Forum - Hacks and tips to grow your business.

• 1 Minute Question - Motivation for business owners and entrepreneurs.