August 1, 2023
Industry Shake-ups, Generative Models & Hollywood Showdown
McKinsey predicts significant workforce changes by 2030
A new report by McKinsey predicts that 30% of work hours could become automated by 2030, a process accelerated by generative AI. However, McKinsey expects no mass unemployment. Instead, a shift in job roles and transitions between industries.
According to McKinsey, workforce transformation will enhance:
- Science, technology, engineering, and mathematics
- Business and Legal
And may erode employment in:
- Office and customer support
- Food service
The report also points out that the declining occupations tend to be low-wage.
“As people leave shrinking occupations, the economy could reweight toward higher-wage jobs.“
– McKinsey Report: Generative AI and the future of work in America (2023)
Midjourney's new rival: SDXL 1.0
Stability AI has launched a formidable rival to Midjourney with its latest open image model, SDXL 1.0.
Recognized as the largest of its kind, this AI-powered image generator leverages an architecture built on 3.5 billion parameters and a 6.6 billion parameter refiner.
SDXL 1.0 can generate high-quality images in any art style, with particular skills in photorealism. The tool boasts an improved ability to understand simple language and what the user’s prompt really means.
You can give SDXL 1.0 a try here.
Musk launches xAI
Earlier this month, Elon Musk launched his new company xAI to ‘understand the true nature of the universe’. Apart from a star team, not much more was revealed.
Later in a X (Twitter) audio chat, Musk clarified that the goal of xAI will be to build a good artificial generative intelligence, AI that can solve problems like a human. xAI will work closely with X (Twitter), Tesla, and other companies on this.
New Wave of Large Language Models (LLMs)
The AI landscape has recently been abuzz with numerous ground-breaking announcements about Large Language Models (LLMs). Here’s the rundown:
Meta’s LLAMA 2 aims to catch up with ChatGPT.
As Meta strides into open-source AI, the tech giant introduces LLaMA 2, its first large language model free for anyone to use.
However, several concerns exist surrounding LLaMA 2, ranging from the need for more transparency regarding its training dataset to occasional misinformation and offensive language usage.
While LLaMA excels in efficiency and accessibility, ChatGPT takes the lead in generating complex language.
Apple is gearing up to join in with AppleGPT.
In a bid to keep up with the advancements in AI, there’s been a report that Apple is gearing up to launch its own AI chatbot named Apple GPT.
The company is said to be developing a cutting-edge AI framework called Ajax, specifically designed to power the next generation of generative LLMs.
Ajax could power features like chatbots, text generation, and much more. Imagine AI-powered Apple Health, Apple Bank, or Apple Fitness - Apple's AI push could change the LLM landscape overnight.
Claude2, Anthropic’s chatbot for document processing
Meet Claude 2, Anthropic's next-gen AI chatbot and yet another competitor to OpenAI's GPT-4. Cheaper, stronger, and faster, Claude 2 can handle multiple PDFs and supports longer conversations.
Users can upload documents, ask for summaries, key takeaways, and more. But it can also discern relationships between concepts from different documents.
However, Claude 2 is currently available in the UK and the US.
FinGPT democratizes access to financial insights.
FinGPT, an open-source financial LLM, could revolutionize financial analysis, risk assessment, portfolio management, and regulatory compliance.
With these developments, we can look forward to more inclusive and efficient financial systems built on Open Finance.
Google's Quantum Computer: Unleashing Uncharted Possibilities
Google has unveiled its new Quantum Computer, a groundbreaking advancement in computing technology.
This astonishing machine can instantly execute tasks that would take even the most advanced supercomputers 47 years to complete!
The Quantum Computer is poised to reshape entire industries. From medical discoveries to revolutionary financial models and materials science.
Is AI going to replace actors?
Hollywood studios face criticism from actors‘ union SAG-AFTRA for proposing using AI-generated background actors in perpetuity (indefinitely) for a single day’s pay.
This proposal ignited joint strikes by actors and writers concerned about AI's potential to replace human performers.
The dispute reflects growing tensions between creative professionals and studios as they grapple with the impact of AI on content creation and job security.
Renowned actors like Samuel L. Jackson also express concerns about the posthumous use of their images.
And that's a wrap for this issue! Whether you're taking a break or staying plugged in, the AI world continues to evolve at lightning speed.
We're here to keep you posted on all the exciting developments and ground-breaking innovations.
Stay tuned for more updates, and until then, have a fantastic summer! ☀️
Blindspot AI Team
