Newsletter
Highlights:
Wall Street analysts and tech investors warn that the AI gold rush is unsustainable and could lead to a bubble.
Meta releases a new and improved version of their open source model.
Activision’s use of AI-generated content proves that AI is already seeping into game development and costing jobs.
Credits to The Washington Post
Business
Big Tech says AI is booming. Wall Street is starting to see a bubble. (Washington Post)
Wall Street analysts and tech investors warn that the vast amount of money being poured into artificial intelligence by Big Tech could be leading to a financial bubble. Despite the significant rise in stock prices for big AI names like Google, Microsoft, and Nvidia, there are concerns about the sustainability of the AI gold rush. “The technology is nowhere near where it needs to be in order to be useful,” says Jim Covello, Goldman Sach’s most senior stock analyst in a recent report about AI.
77% Of Employees Report AI Has Increased Workloads And Hampered Productivity, Study Finds (Forbes)
In a new global study, in partnership with The Upwork Research Institute, 2,500 global C-suite executives, full-time employees, and freelancers were interviewed on the impact of AI on their jobs. The study identified a disconnect between the high expectations of managers and the actual experiences of employees. 96% of C-suite executives expected AI to boost productivity, but 77% of employees using AI say it has added to their workload and they struggle to meet the productivity demands of their employers, contributing to employee burnout.
Meta releases larger version of its open source AI model (Axios)
On Tuesday, Meta announced Llama 3.1.405B, a large language model designed to rival Anthropic, Google, and OpenAI. The model is freely available to others in eight languages and with larger context windows. New licensing terms allow Llama’s outputs to be used to help improve others’ models. CEO Mark Zuckerberg championed the company’s decision to continue making its models widely available, saying it’s good for the ecosystem as well as for Meta.
Credits to Getty Images
Science
Using AI to scrutinize, validate theories on animal evolution (OSU)
A study published in the journal Molecular Phylogenetics and Evolution suggests that the genetic variation of two species, the Brazilian sibilator frog and the granular toad, both amphibians native to northeastern Brazil, were shaped by different processes. Doing what AI does best, processing large amounts of data and pattern recognition, the researchers were able to identify specific factors and test their hypothesis with much more context than they would have had doing it manually since the AI can take into consideration the totality of data that they had at their disposal.
Pearl raises $58M to help dentists make better diagnoses using AI (TechCrunch)
Dental care is a necessity, yet many patients lack confidence in dentists’ abilities to provide accurate diagnosis and avoid unnecessary expenses. That’s why more and more dental practices are turning to AI-powered software to identify dental diseases on X-rays. Pearl, one of only three startups that has an FDA clearance to use AI to assist dentists, announced on Wednesday that it raised $58 million from investors to continue developing AI tools to help dentists make an accurate diagnoses.
NIH findings shed light on risks and benefits of integrating AI into medical decision-making (NIH)
Researchers at the National Institute of Health (NIH) have been testing AI’s potential in clinical settings through a series of medical quiz questions. The questions, designed to test health professionals’ ability to diagnose patients based on clinical images and a brief text summary, were answered with high accuracy by the AI. However, the model made mistakes when describing images and explaining its own decision-making process. NIH’s National Library of Medicine’s Acting Director, Stephen Sherry, says that “Integration of AI into health care holds great promise as a tool… However, as this study shows, AI is not advanced enough yet to replace human experience, which is crucial for accurate diagnoses.”
Credits to Natalie Peeples/Axios
Entertainment
The AI boyfriend business is booming (Axios)
A growing number of women are turning to chatbots for connection and comfort that seems more dependable than many human partners. When used in moderation, the apps aim to fill gaps in human interactions, but do not replace real connections. “Rainy”, a user of the companion app Nomi, says that she still dines and parties with friends, but enjoys the feeling of being “actively listened” to when using the app. Assuming these apps are used responsibly, the main concern comes from data privacy. Some apps store details about the user to provide more personal interactions and some might store chat histories to train the chatbots.
Activision Artists Were Forced to Use AI, Company Sold AI-Made CoD Skin (80LV)
In a recent report, an artist anonymously disclosed that Activision, the gaming giant behind Call of Duty, used AI to generate cosmetics for CoD: Modern Warfare 3. The artist said that the company assured staff that generative AI would not replace them or be used for final game assets, but then sold a cosmetic in-game for real world money and laid off a large chunk of its employees. “I felt that we were throwing away our humanity,” said the artist. Other companies like Blizzard and Riot Games have also expressed an interest in experimenting with AI, whereas CD Projekt Red’s associate director, Paweł Sasko, says “it will just lead to reduction of quality.”
