Alibaba’s 2 new AI models

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🦾 Alibaba rolls out 2 AI models

⛴ Vessel Capital secures $55M for web3 funding

🏭 3 ways the industrial metaverse steers the future of factories

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Alibaba rolls out 2 AI models [Link]

Alibaba has released Qwen-VL and Qwen-VL-Chat AI models to provide researchers, academics, and businesses with advanced conversational and image understanding capabilities. These models enable the development of AI apps without needing to train systems independently.

Key features:

• Qwen-VL: This model can effectively respond to open-ended questions based on diverse images, as well as generate descriptive captions for pictures.

• Qwen-VL-Chat: Designed to engage in complex interactions, this model stands out by analyzing multiple image inputs and efficiently addressing rounds of questions. It can also undertake various tasks like crafting stories, generating images based on user-provided photos, and solving mathematical equations illustrated in images.

Unlike previous models, Qwen-VL-Chat not only generates content from text input but also demonstrates the ability to comprehend images and provide textual responses, resembling the latest version of OpenAI’s ChatGPT.

Both Qwen-VL and Qwen-VL-Chat have been developed on Alibaba’s LLM known as Tongyi Qianwen, which made its debut earlier this year. This innovation from Alibaba follows the recent launch of HyperCLOVA X by South Korean internet giant Naver.

Vessel Capital secures $55M for web3 funding [Link]

Web3 venture fund Vessel Capital emerges from stealth with $55M in managed assets to pour into infrastructure and applications.

Key details straight from founders Mirza Uddin, Eric Chen, and Anthony Anzalone, as told to TechCrunch:

• The firm, which has been investing about $10M annually, says the fund is evergreen and the capital pool is likely to be increased and to be deployed over a 5-year timeline.

• They seek new founders as crypto becomes “more global” and goes outside of the same circle seen in 2018-20. The capital, while focused on app-specific infrastructure, can be provided to startups in other categories for Vessel Capital to “build a new type of venture fund.”

• The founders think the world has enough VCs yet what’s “missing” is actual guidance and advice, such as being on the ground with startups while they scale.

The news comes amid the longstanding crypto winter and attention getting redirected to generative AI projects from the NFT and web3 projects that dominated the VC scene in the last few years.

OpenAI, Scale AI partner to allow GPT-3.5 customization [Link]

OpenAI fosters the customization of AI models via the integration of Scale AI's data annotation services and OpenAI's GPT-3.5 model. This aims to simplify the process of finetuning AI models for enterprises to utilize AI solutions.

Key elements of the partnership:

• Leveraging scale AI’s data engine: The collaboration enables Scale AI’s customers to prepare and enhance their data using the Data Engine platform. This initial step sets the stage for further refining the AI model.

• Finetuning with GPT-3.5: This finetuning process can encompass various aspects, from aligning the AI’s responses with a brand’s tone to tailoring it to specific languages.

• Human expert review: To ensure the quality and performance of the finetuned models, human experts will review the outcomes, ensuring the models exceed performance expectations and adhere to safety requirements.

The collaboration is said to allow companies not only to customize OpenAI models but also to benefit from Scale AI’s extensive experience in effectively leveraging enterprise data for AI apps.

3 ways the industrial metaverse steers the future of factories [Link]

The industrial metaverse is poised to change the way manufacturers implement their business in the virtual realm, particularly in simulating real-world scenarios in the metaverse.

Here are 3 ways this can get done in factory settings:

1. Synthetic data improving real-world decision-making - Boeing is keen on building digital twins - digital replicas of real-world objects or systems - to simulate complex operations before taking action in a real-world manufacturing setting. Key to this is the concept of synthetic data or data created by simulations and algorithms, versus those generated in the real world.

2. Simulating individual products and entire factories - At Siemens Digital Native Factory in Nanjing, China, the entire factory was simulated with a digital twin at the planning stage, allowing Siemens to detect and mitigate planning errors and optimize the building process.

Creating a more immersive, collaborative product design process - Digital twins will aid the product design process to let designers simulate products, spot flaws, and improve the design before the product is actually built. VR also aids the design process; designing a car, for instance, can be done by immersing yourself in a VR version of the car’s interior.

Quick Hits

🎮 Gaming

• As the 1st NFL-licensed game to incorporate web3, NFL Rivals lets fans step into the role of general manager as they build (and own) their dream team. (Link)

• A video game helps a woman left paralyzed after a stroke speak again, based on the world’s 1st brain-computer interface that electronically produces speech and facial expression from brain signals. (Link)

• A bank launches in The SandBox metaverse to “gamify” highlighting global food waste. (Link)

• Super League develops Yas Island Tycoon for Roblox to showcase Yas Island, Abu Dhabi’s leisure and entertainment destination. (Link)

• IN is a new MORPG in a fantasy world where players combat dangerous monsters, build cities, collect gems, and develop personal characters with NFTs. (Link)

🕶 Fashion

• Snoop Dogg partners with footwear brand Skechers to bring his Dr. Bombay NFT ape to a brand-new range of sneakers. (Link)

• Here’s how Pixyle.ai's AI-powered tagging services are enhancing efficiency at Esprit. (Link)

• AI-based counterfeiting lies at the heart of accusations against fast fashion powerhouse Shein. (Link)

• Meanwhile, Shein acquires 1/3 interest in Sparc Group, Forever 21's operator which will also become a minority shareholder in Shein. (Link)

• Filipino designer Michael Cinco headlines the 1st-ever Metaverse Fashion Gala. (Link)

🏀 Sports

• With the US Open in full swing, the United States Tennis Association (USTA) launches an immersive experience in Roblox enabling fans to partake of quests and challenges. (Link)

• Basketball fans watching the FIBA Basketball World Cup onsite in Manila get an added special treat: they can chat with Pearl, the country’s first “digital human.” (Link)

• Amazon’s Prime Video brings new AI-driven features to Thursday Night Football. (Link)

• Deodorant brand Rexona taps into AI to create the Album of the Future, an endeavor with FIFA to get more girls to play football. (Link)

• Decentralized sportsbook UBET Sports rolls out its decentralized crypto sports betting platform on Polygon. (Link)

🎥 Media & Entertainment

• Starbucks tests Scanless Pay, which uses geolocation to identify customers at drive-through. (Link)

• Earl Sweatshirt and The Alchemist secretly release the album Voir Dire on the NFT-backed decentralized streaming platform Gala Music. (Link)

• K-Pop labels and game developers have launched virtual idols to tap into the growing cyber artist market. (Link)

• These are the 5 emerging digital entertainment trends to watch in the 2nd half of 2023. (Link)

• What’s in store at Web 3.0 | Art Meets Metaverse at the Singapore Grand Prix week? (Link)

• A Kanye West impersonator tricks clubgoers at LIV nightclub in Miami Beach into thinking he was the real Ye. (Link)

🖼 Art

• Polish multimedia artist Marcela Nowak showcases Flowessence in a virtual art exhibit on Vatom platform, with simultaneous physical paintings on display in CA. (Link)

• NFT collectors focus on generative art and historical significance amid market rout. (Link)

• NYC concept store Gotham hosts an event featuring an art series from Bright Moments and Nicole Vella, this month’s Artist in Residence. (Link)

• Donald Trump's NFT trading cards see a 256% increase in trading volume and a 220% increase in sales. Why: 2 wallets buying vast quantities of NFTs. (Link)

• F1 fans with a Dutch GP app linked to their ticket can obtain a digital collectible tied to the Zandvoort track which will update during the race. (Link)

• Crypto casinos blend art and gambling through blockchain, enabling artists to contribute and players to possess NFTs. (Link)

🤖 AI

• Ideogram, an AI image startup founded by ex-Google Brain researchers, unveils an AI image generator featuring remarkable typography. (Link)

• Rumor has it Google's upcoming Pixel 8 series has several new AI-powered camera features. (Link)

• The UK government will host an AI Safety Summit for leaders and experts to discuss AI risks. (Link)

• WA-based AI startup Irreverent Labs receives an investment from Samsung Next, signaling its intention to revolutionize video content production globally. (Link)

• This AI-powered weather forecasting model provides projections ranging from 2-52 weeks ahead of time. (Link)

• LinkedIn upgrades its AI algorithm for more personalized experiences and better-targeted ads and content. (Link)

💸 Funding & Partnerships

• Hugging Face receives $235M investment, increasing value to $4.5B, to expand the team and invest in open-source AI development. (Link)

• ZeroEyes, creator of an AI-based gun detection video analytics platform, secures $23M in capital to accelerate customer deployments. (Link)

• AI platform startup Modular raises $130M to expand its products, hardware support, and programming language Mojo. (Link)

• Dennison partners with Trace Network Labs to build its 1st brand store in the PARIZ Metaverse for fashion and lifestyle. (Link)

• Ezra Ai announces its plan to raise $7.6M in venture capital funding to advance its AI-powered call center solution. (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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