🤖 Is The Generative AI Hype Train Running Out of Steam?

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Welcome back AI enthusiasts!

In today’s AI Report:

• 🚂Is The Generative AI Hype Train Running Out of Steam?

• 🚑Google Debuts Search Capabilities for Health Providers

• 🛠5 Trending Tools

• 💰Venture Capital Updates

• 💼Who’s Hiring?

Read Time: 3 minutes

🗞RECENT NEWS

MARKET TRENDS

🚂Is The Generative AI Hype Train Running Out of Steam?

CCS Insight, an industry analyst firm, made several predictions about what lies ahead for AI, highlighting the rising costs required to run AI models and the growing demand for regulation.

Key Details:

• CCS Insight released a 2024 forecast report addressing the reality of costs, lack of access to differentiated data, and complexity involved in regulating content produced by AI models. The analyst firm believes these factors “replace the hype” surrounding the technology.

• Chief Analyst at CCS Insight, Ben Wood, told CNBC: “The bottom line is, right now, everyone’s talking about generative AI through Google, Amazon, Qualcomm, and Meta. It’s overhyped, and several obstacles need to be tackled.”

• Companies must acquire high-powered chips to run AI applications and manage AI workloads. These processing units are too expensive for many developers, allowing massive corporations to squeeze out competing AI models.

• A slew of AI-generated news stories are being published daily, littered with factual errors and misinformation. According to NewsGuard, a rating system for information websites, 49 news outlets rely entirely on AI software to produce articles.

• CCS Insight anticipates law enforcement agencies will begin arresting AI-based identity fraud suspects who leverage voice synthesis technology or deepfakes to impersonate individuals.

Why It’s Important:

• AI increases the potential scale of bias. Any flaw could affect millions of customers, exposing companies to class-action lawsuits. AI systems producing biased results are halting AI advancements.

• As companies increasingly embed AI into their products, services, processes, and decision-making, attention is shifting to how the software uses data to develop user algorithms.

GOOGLE

🚑Google Debuts Search Capabilities for Health Providers

Google implemented generative AI-powered capabilities to its Vertex AI platform for health companies to search patient data and access the Med-PaLM 2 model.

Key Details:

• Vertex AI is a Machine Learning (ML) platform that allows you to train and deploy customized search engines. Med-PaLM 2 is a generative AI technology that uses Google’s Large Language Model (LLM) to answer medical questions.

• These new features allow providers to find answers to medical questions directly related to patient records and obtain answers to general medical questions.

• Med-PaLM 2 was tested on U.S. Medical Licensing Examination-style questions in March and performed at an “expert” test-taker level with 85%+ accuracy.

• The Large Language Model (LLM) also earned a passing score on the MedMCQA dataset, a multiple-choice dataset designed to address real-world medical entrance exam questions.

Why It’s Important:

• AI models could significantly reduce inefficiency in healthcare, improve patient flow and experience, and enhance caregiver experience and patient safety through the care pathway.

• Well-designed healthcare chatbots can plan appointments and be programmed to communicate with CRM systems to assist medical staff with cataloging patient visits and initiating follow-up appointments.

🛠TRENDING TOOLS

🌊WebWave creates unique, responsive websites with AI-driven drag-and-drop design controls.

🔊Trint transcribes speech-to-text from audio and video files with nearly 99% accuracy.

⚙️Nara transforms customer support by providing real-time responses, retaining customers, and boosting satisfaction.

🛍Quickads creates high-converting advertisements for any campaign in seconds.

📸ProPhotos generates high-quality, photorealistic headshots with retouching features and brightness adjustment tools.

💰VENTURE CAPITAL UPDATES

• A Munich startup secures $32M to scan eggs and revolutionize MRI scans.

• TabbyML, an open-source challenger to GitHub Copilot, raises $3.2M.

• Thread, which develops platforms to inspect utility assets autonomously, raises $15M.

• Modal Labs lands $16M to abstract away big data workload infrastructure.

💼WHO’S HIRING?

• Torc Robotics (Remote): Senior Software Engineer

• GitHub (San Francisco, CA): Manager, Inside Account Management

• Apple (Seattle, WA): AIML Rotation Program, Summer 2024

🤖PROMPT OF THE DAY

SALARY

📊Salary Negotiation Strategy

Analyze my [Skills] and [Achievements]. Provide me with tips and points I need to stress in a salary negotiation for [Company Position].

Skills = [Insert Here]

Achievements = [Insert Here]

Company Position = [Insert Here]

📒FINAL NOTE

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