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Hi Everyone 🙏,

Welcome to the 167+ new members. Is the AI Hype over? Startups are feeling the pinch, but some other tech companies are quickly developing AI wearables, a very tough space to conquer. We also share AI productivity tools and top trends.

Let’s go right in:

• Is the AI Hype Over?

• AI Wearables are here.

• 🧰 AI Tools of the Day

• 💰 Follow the Money

• 📰 Publications I am currently reading and recommending.

💪🏽 Important AI News and Trends.

• Nvidia’s French Offices Raided in Antitrust Inquiry (WSJ)

• Elvis Is Back in the Building, Thanks to AI—and U2 (Time)

• Pentagon Urges AI Companies to Share About Their Tech (Bloomberg)

• Meta quietly unveils “Llama 2 Long” AI that beats GPT-3.5 Turbo and Claude 2 (VentureBeat)

• Can AI Create videos from Sound (Pages)

• Getty made an AI generator trained on its licensed images (TheVerge)

🌐 Web3 and Tech news.

• Why child safety bills are popping up all over the US (MIT)

• Meanwhile, China is escalating its war on kids’ screen time (MIT)

• Sam Bankman-Fried prepares for the fight of his life in US trial (FT)

• Forget a Dating Profile, This App Says It Just Needs Your Face (WSJ)

• X’s daily active users have dropped 3.7% to 245 million since Elon Musk bought it (TheInformation)

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📉 Is the AI Hype Over?

In the AI startup scene, a reckoning is on the horizon, particularly for consumer apps and "thin wrapper" startups. Jasper, a once-promising player, has reduced its valuation by 20% and trimmed its 2023 revenue projections by at least 30%, signaling a broader trend of companies shifting from experimentation to practical use as investors grow wary of AI fatigue.

The future is uncertain for these startups. Many of these startups use OpenAI's APIs to offer their services making them easy to compete with. Model developers, such as Adept AI Labs, raise substantial funding but face challenges in delivering on their ambitious goals. Consumer apps are risky, with examples like Lensa and Character.AI experiencing rapid shifts in popularity, and lots have to do with our increased expectations of AI apps.

Incumbents like OpenAI, expanding into hardware, pose challenges to their partners. ChatGPT disrupted Jasper's model by offering a free alternative. Despite these challenges, leadership changes and strategic shifts may offer hope, but the AI startup landscape remains turbulent.

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AI Wearables are here.

Ahead of its full launch on November 9th, startup Humane revealed its first AI device, the screenless wearable Ai Pin, through a collaboration with fashion house Coperni at Paris Fashion Week.

The intelligent clothing-based device uses sensors for natural interactions, reflecting Humane's privacy-first vision with no always-on listening. It includes AI-powered optical recognition and a laser display, all on a Qualcomm platform, without needing a paired smartphone. Humane and Coperni aim to showcase the convergence of design, creativity, and technology. While full capabilities will be unveiled next month, the Ai Pin represents a new paradigm of ambient, AI-driven computing as an extension of our bodies.

This is a tough space as many large tech corporations have failed to create a sleek, high-tech wearable that we will buy and well.. wear. Facebook’s wearables have failed, Microsoft’s did too, and this Pin may not look very appealing to many. What many of us agree with is that Apple’s iPhone designer Jony Ive chatting with OpenAI’s founder may give birth to the game changer in wearables we are all waiting for. We shall see…

🧰 AI Tools of the Day

Productivity Tools.

• To Teach -Teachers can create exercises and lessons for their students.

• Praxy - A Google Chrome Extension for students’ productivity.

• Any Summary - A tool to summarize long documents, and image/video files.

• Vimcal - A calendar app with social profiles and time zone support.

• SaveDay - A free telegram bot to capture and manage multimedia content storage.

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

💰 Follow the Money

• Nextdata, data sharing for AI use cases startup, raised $12M.

• Nexusflow, which uses AI to help companies analyze cybersecurity data, raised $10.6M.

• Plenful, automates pharmacy and healthcare operations using AI, raised $10M.

• Braintrust, help developers build AI applications, raised $3M.

📰 Publications I am currently reading and recommending:

• John Bejakovic’s - Email about influence, marketing, and copywriting.

• Design Hacks - UX/UI Design in short, practical lessons.

• The MoneyFitt Morning - Daily heads-up on investing & business.

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