AI to augment, not destroy jobs

Today we are covering…

🦾 AI to increase rather than destroy jobs: ILO study

⚡ OpenAI lets biz customize GPT-3.5 Turbo

👩🏻‍💻 Workspace firms venture into the metaverse

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AI to increase rather than destroy jobs: ILO study [Link]

New research from the International Labour Organization (ILO) finds that generative AI is more likely to augment than destroy jobs. How? By automating certain tasks instead of taking over a role completely.

Key details from the study Generative AI and Jobs: A global analysis of potential effects on job quantity and quality:

• Most jobs and industries are only partially exposed to automation and are more likely to be complemented instead of substituted.

• Clerical work emerged as the category with the highest exposure to the tech, with almost ¼ of tasks considered highly exposed and over ½ having medium-level exposure.

• In other careers – such as managers, professionals and technicians – only a small portion of tasks was found to be highly exposed and about ¼ had medium exposure.

• The effects of gen AI among men and women vary significantly, with more than twice the share of female employment potentially affected by automation, mainly due to the gender’s over-representation in clerical work.

Gen AI’s socioeconomic effects are largely based on managing its diffusion, with workers’ voice, skills training, and adequate social protection deemed key to managing the transition.

OpenAI lets biz customize GPT-3.5 Turbo [Link]

OpenAI's GPT-3.5 Turbo now permits businesses to customize AI models using their own data, enabling bespoke solutions and ushering in a new age of AI integration.

Key features of the GPT-3.5 Turbo:

• Enhanced business efficiency: Enables businesses to enhance language, content, and brand management efficiency through fine-tuning capabilities.

• Replacing obsolete predecessors: Replaces previous GPT-3 versions (davinci-002, babbage-002) as GPT-3.5 Turbo offers precise customization based on company requirements.

• Customization and confidentiality: Gets tailored to a company's needs upon integration with company data, ensuring confidentiality and preventing external model training using data or inputs and outputs.

• Versatility across industries: Wide-ranging applications, including generating ad copy, crafting internal communications, generating code snippets, and producing API calls.

• Enhanced processing speed and efficiency: Processes 4K tokens concurrently, providing twice the speed of its predecessors.

• Efficient communication: Test results show that when given fine-tuned instructions, prompts can be up to 90% shorter, streamlining the way we “talk” to AI.

OpenAI has set the pricing for GPT-3.5 Turbo at $0.0080/1000 tokens for training, $0.0120/1000 tokens for input usage, and $0.0120/1000 tokens for AI output.

Samsung taps into next-gen AI talent to build R&D in the space [Link]

Samsung Electronics is nurturing talents in AI and computer engineering to build its R&D further in next-gen semiconductors and overall know-how in the emerging sectors.

Its R&D unit, Samsung Advanced Institute of Technology (SAIT), will hold this year's Samsung AI and CE Challenge for graduate and undergraduate students. The four categories are:

• Image recognition for autonomous driving

• ML algorithms for simulating semiconductor materials

• Simultaneous quantitative and qualitative evaluation of camera image quality using AI

• Computing system optimization for LLM inference

The project aimed at generating new ideas in AI and computer engineering is one of the company’s bids to overcome the limits of R&D in the fields of semiconductors, computer vision, and computing systems based on AI," scoping out future technology research via tapping into young minds in the emerging fields.

Workspace firms venture into the metaverse [Link]

Clockwise, an operator of 15 workspaces, has announced the launch of its own virtual office space Clockwise Campus in the metaverse, emphasizing the metaverse's capacity to redefine digital collaboration.

Clockwise envisions the metaverse office as an extension of its physical spaces, yet unrestricted by physical constraints. Scheduled for launch in Autumn 2023, the campus promises dedicated meeting rooms, desk spaces, breakout zones, and call areas, all within the limitless expanse of the virtual realm.

While Clockwise's announcement marks a significant stride in the metaverse's integration into the workspace, it is not the sole player in this arena. Prominent entities like Facebook, with its Meta Horizon Workrooms, as well as companies like Gather and Teamflow, are also venturing into virtual office spaces.

Quick Hits

🎮 Gaming

• NVIDIA debuts its AI-enhanced real-time ray tracing for games and apps with the new DLSS 3.5. (Link)

• The iconic Atari 2600 game console from 1977 is making a modern comeback. (Link)

• Play KFC’s VR game, win free chicken as a reward. (Link)

• VR breathes new life into stagnant gaming genres, such as horror games. (Link)

• Indie gaming studio Play for Fun unveils its AI-powered 3D simulation social game Club Koala. (Link)

🕶 Fashion

• Digital fashion house The Fabricant releases The Wholeland: Primal Rave, its latest NFT fashion collection featuring items that owners can virtually wear in AR. (Link)

• US-based fashion supply chain company Trendsi banks on AI to transform the country’s fashion distribution network. (Link)

• The Bratz x Kylie Collection brings an all-new retail activation, cross-category merchandise, and exciting fan immersion experiences, including a geo-gated AR runway. (Link)

• From smart fabrics to immersive experiences, here are ways wearables are pushing the boundaries in fashion this year. (Link)

• Bangladesh apparel makers are said to be planning to pump in a massive $3.5B in new tech even as the $100B export target by 2030 continues to loom large on the horizon. (Link)

🏀 Sports

• Amazon's Thursday Night Football broadcast will use AI to tell fans if NFL teams should go for it on 4th down. (Link)

• Intelligent chat platform GameOn Technology enters the world of MMA through an exclusive partnership with the Professional Fighters League (PFL). (Link)

• Phillies debut the Major League Baseball’s facial authentication ticket tech. (Link)

• Meanwhile, NBA 2K24 will have more eras than ever, with special homage paid to the likes of LeBron James and Kobe Bryant. (Link)

• Baby DogeCoin is getting into GameFi via BabyDogeChess, a skill-based chess game. (Link)

🎥 Media & Entertainment

• Read on for Paris Hilton’s journey to becoming the queen of crypto. (Link)

• The Backer NFT presale for "Barbarian Invasion" concludes, showing a transition to web3 and allowing filmmakers to access funding and automated revenue sharing. (Link)

• Snapchat is creating Dreams, an AI-based feature that enables users to upload selfies and produce AI-generated pictures of themselves in imaginative situations. (Link)

• Check out the most disturbing AI characters in sci-fi movie history. (Link)

• TikTok introduces Search Ads Toggle, an ad placement to target users searching for products and brands. (Link)

• Instagram Threads will begin rolling out a web version, allowing users to post, view their feed, and interact with posts. (Link)

🖼 Art

• Ali Sabet is working with Picasso to create the limited-ed DREAMS by SABET, honoring the artist's legacy in a mix of contemporary and traditional art. (Link)

• Will Asian art ever reach the level of popularity of its Western counterparts? (Link)

• Newgard Development Group commissions more artists to create NFT pieces for its luxe condo project LOFTY Brickell. (Link)

• Manifold's Onchain Summer event enables artists to explore digital art and blockchain tech. (Link)

• Piying Dream is attempting to revive this old art form via 3K+ photos of original shadow puppets and animations of real performances. (Link)

🤖 AI

• Germany doubles its AI spending to join the US and China in the heated race to the top. (Link)

• Smarter than ever: Qualcomm's Snapdragon 8 Gen 2 Mobile Platform enhances the smartphone experience with speed and AI. (Link)

• OpenAI is funding an app for parents to manage kids’ lives. (Link)

• Renowned author Stephen King: My books were used to train AI. (Link)

• YouTube has seen 1.7B+ views on videos related to AI tools this year. (Link)

• Meta releases an AI model for translating speech between dozens of languages. (Link)

• The UK government is seeking input from the media industry regarding concerns over advancing AI and copyright infringement. (Link)

💸 Funding & Partnerships

• AI pioneer Genesis Therapeutics snags $200M in funding for drug discovery. (Link)

• Nodal Power secures $13M funding to convert methane gas from landfills into electricity, powering local grids and mining Bitcoin. (Link)

• EV charging startup Electric Era lands $11.5M to deploy AI- and battery-supported stations. (Link)

• SF-based Momentum Capital secures a $10M investment to fund web3 projects in the crypto industry in search of the "Apple" of cryptocurrencies. (Link)

• Trive Capital acquires AI defense platform and solutions company Hypergiant Industries. (Link)

• 36Kr and Baidu form a strategic partnership to utilize AI to enhance content creation and promote digital transformation. (Link)

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All content on this newsletter is for informational purposes only and does not aim to serve as or replace expert investment advice.

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