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CEOs increasingly prioritize AI investments over workforce development, recognizing its potential to reshape the future job landscape. Additionally, Canva has introduced AI tools here is a How-To-Guide, and OpenAI is venturing into chip development.

This is what’s on the Menu Today:

• CEOs Prioritize AI Investment over Workforce Development

• OpenAI to Make Their Own Chips

• How to Use the New Canva AI Tools.

• 🧰 AI Tools of the Day

• 💰 Follow the Money

• 📰 Publications I am currently reading and recommending.

💪🏽 Important AI News and Trends.

• Cloud Providers Eye Nuclear Power as AI Saps Data Centers (TheInformation)

• Google’s latest Pixel phones have new camera AI tricks (CNBC)

• 4chan Uses Bing to Flood the Internet With Racist Images (404)

• Google Photos’ new AI tools are too complicated (TheVerge)

• Meta's Celebrity AI Avatars Prove Lucrative for the Stars (TheInformation)

🌐 Web3 and Tech news.

• The New Jobs for Humans in the AI Era (WSJ)

• Amazon is launching its first internet satellites to rival Starlink (NewScientist)

• America’s High EV Costs Are Driving Buyers to Hybrids (Bloomberg)

• Tesla Sales Drop Brings BYD Closest Ever to Global EV Crown (Bloomberg)

• Inside look at life in a $68M AI hacker house (TheEconomist)

• Gallaudet U. partnering with AT&T for revolutionary 5G Football helmet(USAToday)

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CEOs Prioritize AI Investment over Workforce Development

CEOs prioritize investing in generative AI but are concerned about ethics and regulation. Most allocate more funds to technology (57%) than workforce development (43%), according to a KPMG study.

Around 23% expect quick returns, while 62% anticipate 3-5 years. KPMG’s Steve Chase advises assessing skills and readiness. Generative AI is seen as boosting profitability, innovation, and cybersecurity but also poses risks.

CEOs worry about the lack of regulation, with 81% wanting regulations like climate commitments. They're addressing ethical risks and regulations through governance and policies.

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OpenAI to Make Their Own Chips

OpenAI is exploring the development of its own AI chips and has even looked into potential acquisitions for this purpose. 

CEO Sam Altman is emphasizing the need for more AI chips due to shortages and high operational costs. While this move aligns OpenAI with tech giants like Google and Amazon, it's a major investment with uncertain outcomes. Microsoft, OpenAI's primary supporter, is also working on a custom AI chip. The demand for AI chips has risen significantly with ChatGPT's launch, and Nvidia currently dominates this market.

How to Use the New Canva AI Tools.

Canva launched AI image generation apps two days ago, enabling users to create unique visuals effortlessly. Magic Media, Imagen, and DALL·E turn descriptions into images and videos swiftly. 

These tools eliminate creative blocks and offer various styles. Canva alleges to prioritize ethical use and safety, collaborating with Google Cloud and OpenAI for responsible AI.

This video will provide a quick overview on how to use the new Canva AI Tools.

🧰 AI Tools of the Day

Text to Video Tools.

• Pika Art - In the Beta stage, used through the discord channel. Very basic but a good start that can develop.

• Kaiber - Video generation engine, using your own images or text.

• Genmo - Create videos from text with AI.

• DeepBrain AI - A tool to create text-to-speech videos.

• Neural Frames - A platform to convert text into video.

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

💰 Follow the Money

• Ideogram, Andreessen Horowitz to invest $500M

• Anduril, Defense Startup to Raise More Than $400 Million

• Glydways, Robotaxi Startup Raises $56M

📰 Publications I am currently reading and recommending:

• Dear CEO - Want to be a better manager?

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

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

• Morning Brew - World News in 5 minutes