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This is what’s going on Today:

• The Future of AI may be in Your Hands

• The AI Profit Battle - Who's Leading the Charge?

• AI's Risks Equate to the Climate Crisis

• 🧰 AI Tools of the Day

• 💰 Follow the Money

• 📰 Publications I am currently reading and recommending.

💪🏽 Important AI News and Trends.

• AI Servers are expensive, they may cost Apple ~$4.8B in 2024 (MacRumors)

• OpenAI plans major updates to lure developers with lower costs (Reuters)

• Meta’s “Habitat 3.0” simulates real-world environments for AI robot training (SA)

• AI can lead you to download more viruses than ever if you’re not careful (TU)

• Data poisoning tool lets artists fight back against AI (MIT)

🌐 Web3 and Other Tech news.

• Is Bitcoin Back? Maybe, and a Spot ETF will make it bullish (Bloomberg)

• China’s biggest gay dating app wants to beat Grindr (ROTW)

• Instagram Tests Verified-Only Feed (TheInformation)

• Meta Sued in 33 States Accused of addictive content for Minors (NYT)

• White House designated 31 new 'tech hubs' eligible for $75M in Grants (Engadget)

• New e-commerce startup allows you to own and move your own data (TC)

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The Future of AI may be in Your Hands

AI is moving from the cloud to devices like smartphones and laptops. This change could make AI faster, cheaper, and more private. Qualcomm showcased a speedy smartphone AI demo, Apple is working on its AI models for iOS and Siri and Google is also adopting on-device AI.

This shift can cut costs and boost performance. It's seen as a way to reinvigorate computer and smartphone sales. Plus, it challenges the dominance of Google and Apple in the smartphone world.

Pros of shifting AI to devices:

1. Speed: On-device AI can be significantly faster because it doesn't rely on internet connectivity and remote servers.

2. Privacy: Data stays on the device, reducing privacy concerns associated with cloud-based AI.

3. Cost Efficiency: Running locally reduces the need for expensive cloud infrastructure.

4. Offline Availability: Functions when the device is not connected to the internet.

5. Reduced Latency: Real-time applications benefit from lower latency.

Cons of shifting AI to devices:

1. Hardware Requirements: On-device AI often requires powerful hardware, potentially limiting its availability on older or less-capable devices.

2. Battery Drain: Intensive AI processing can drain device batteries quickly.

3. Limited Storage: AI models and data require significant storage space.

4. Maintenance Challenges: Managing AI updates and improvements on a wide range of devices can be challenging.

5. Security: Storing AI models on devices can make them more susceptible to tampering or hacking.

6. Scalability: Cloud-based AI can easily scale to handle large workloads, while on-device AI may struggle with resource-intensive tasks.

Billionaires wanted it, but 54,578 everyday investors got it first… and profited, but you can too.

When precious assets come up for sale, it's typically the wealthiest who take home an amazing investment. But not always…

One platform is taking on the billionaires at their own game, buying up and securitizing some of history’s most prized blue-chip artworks for its investors. In just the last few years, its investors have realized annualized net returns of 17.8%, 21.5%, 35%, and more from these opportunities.

It's called Masterworks. Their nearly $1 billion collection includes works by greats like Banksy, Picasso, and Basquiat, all collectively owned by everyday investors. When Masterworks sells a painting – like the 16 it's already sold – investors reap their portion of the net proceeds.

The AI Profit Battle - Who's Leading?

Microsoft and Alphabet have been showcasing their financial prowess, with a particular spotlight on their ventures into AI. While Microsoft continues to ride high on its cloud revenues, integrating AI across its tech stack, Alphabet's Google is gearing up to revolutionize its search experience with AI infusion. Here's how they compare in terms of profitability and strategies to stay ahead:

Microsoft FY23 Q3 Highlights:

• Revenue: $56.5 billion (an increase of 13% YoY).

• Operating Income: $26.9 billion (up 25% YoY).

• Net Income: $22.3 billion (up 27% YoY).

• Major revenue contributors include Microsoft Cloud at $31.8 billion (up 24% YoY) and Intelligent Cloud at $24.3 billion (up 19% YoY).

• CEO Satya Nadella emphasized AI infusion across the tech stack, aiming to drive productivity for customers.

• Other significant revenue sources: Productivity and Business Processes ($18.6 billion, up 13% YoY) and More Personal Computing ($13.7 billion, up 3% YoY).

Alphabet Q3 Highlights:

• Search Business Revenue: $44 billion (an 11% increase YoY).

• Google's AI-powered Search Generative Experience (SGE) is in the spotlight, with its potential impact on the company's ad business still unknown.

• CEO Sundar Pichai indicated a commitment to AI in search as a long-term strategy, envisioning the evolution of search and assistance over the next decade.

• YouTube Ads Revenue: $7.9 billion (a rise of 12% YoY).

• Cloud Business Revenue: $8.4 billion (a surge of 22% compared to Q3 2022).

Both Microsoft and Alphabet are reaping significant profits from their AI investments, but their approaches diverge. Microsoft integrates AI across its product lineup, notably in cloud services, yielding notable revenue boosts. Alphabet, meanwhile, is honing its AI focus on enhancing search and platforms like YouTube. Although their current AI endeavors aren't directly competitive, the ever-growing role of AI in technology may see them competing more closely soon. In essence, while both companies exhibit robust AI profitability, their strategic AI directions vary, hinting at an evolving competitive landscape.

Knick-knacks on tech, startups, and business.

Read by 25k+ people from around the world, Weekly Olio already counts the who’s who of investors, startup founders, economists, and industry professionals among their subscribers. You can be one too!

AI's Risks Equate to the Climate Crisis

Demis Hassabis, CEO of Google's DeepMind, warns that AI risks should be addressed with the same urgency as the climate crisis. He suggests a regulatory body similar to the IPCC to oversee AI and highlights threats like bioweapons and super-intelligent systems. While acknowledging AI's benefits in medicine and science, Hassabis stresses the need for a balanced approach. Rapid AI advancements, such as realistic text and image generation, raise concerns about potential misuse. Hassabis supports standardized testing for AI models, referencing the UK's Frontier AI taskforce initiative.

💡 AI Hacks and Tricks

• CoinMarketCap has a chatGPT plugin, here is a guide to master it.

• Midjourney Halloween prompt ideas for scary, haunting AI images.

• 5 ChatGPT Prompts To Achieve Financial Freedom Faster

💰 Follow The Money

• Perplexity, AI Search has raised $50M at $500M Valuation

• Zhipu AI, a Chinese ChatGPT rival, has raised $340M

• Nortech AI, data-driven decision-making for the maritime industry, raised €2.5 M

• Giga ML, an AI startup that deploys customizable LLMs, raises $3.6M

• AI build, AI for Additive Manufacturing, raises $8.5M

🧰 AI Tools of the Day

Course Creation.

• Courses AI - Guided course creation, plan lesson content, and more.

• Learning Studio - Audio + Video recording, lesson planning, course creation.

• Mini Course Generator - Creates a comprehensive and accurate mini-course.

• Course Box - Convert documents, sites, and videos into a course.

• Courseau - Generate courses from your content.

📰 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.