We all admit this AI Goldrush is exciting, and let’s take a quick look back at history and ponder the thought of who will become the wealthiest during the next ten years of our great AI expansion.
Lessons from the California Gold Rush:
The output of gold rose from $5 million in 1848 to $40 million in 1849 and $55 million in 1851. However, only a minority of miners made much money from the California Gold Rush.
It was much more common for people to become wealthy by providing the miners with over-priced food, supplies and services.
Sam Brannan was the great beneficiary of this new found wealth. Prices increased rapidly and during this period his store had a turnover of $150,000 a month (almost $4 million in today’s money).
By 1860, Brannan was one of the richest men in California, considered by many to be the territory’s first millionaire. Ref: https://spartacus-educational.com/USAgoldrushC.htm
⚡Why does this matter? Because most are focusing on becoming part of the main stream within the AI Goldrush where it’s highly possible those who create and/or sell ancillary services will become the biggest beneficiaries in the long run!
Here’s what I have for this week:
🍿Quick Bites
LogoFast – Make beautiful logos with AI, fast & free
Linnk.AI – Simplified, efficient & insightful reading with AI. Before diving in, understand an article’s structure and key insights upfront with AI, on the same page.
Shader – New self-expression with AI. A vibrant platform for designers and social media managers, Shader brings a new dimension to visual content creation.
Snowball – Content creation made easy with AI. Grow your X / Twitter account in weeks, not years! The best AI tweet generator. It writes personalized AI generated tweets and replies optimized for engagement for you – at lightning speed.
Findly – Talk to your Google Analytics data. Wish you could just ask Google Analytics 4 for the reports you want?
Krea – A delightful AI powered design tool for images & videos. Power Tools: The cutting edge of image generation
Sadhguru AI: Ask anything from Sadhguru. Sadhguru AI is your mystic, yogi, visionary, and spiritual master. He’s here to answer your questions about life, the universe, and everything.
Show HN: I built an open source AI video search engine to learn more about AI
Korus – Deadmau5-founded AI-powered music creation platform. KORUS is PIXELYNX’s flagship creation platform, combining blockchain, artificial intelligence, gaming and music production, that empowers creators and gamers alike to engage with the innovative projects, apps, digital collectibles, and more in the PIXELYNX music metaverse.
AI Enhanced UI Kits – Design and innovate effortlessly with AI. Create stunning chat interfaces quickly and easily with our pre-designed UI components.
👀 Inside Story
IBM Watson
- History: IBM Watson is a division of IBM, one of the world’s oldest and most established technology companies, which dates back to 1911. Watson was named after IBM’s first CEO and industrialist Thomas J. Watson. The project gained fame after its AI system defeated human champions on the quiz show “Jeopardy!” in 2011.
- Products: IBM Watson provides a suite of enterprise-level AI services that include natural language processing, machine learning, and data analytics. Its AI has been applied in various industries, from healthcare, where it assists in diagnosing diseases and recommending treatments, to finance, where it helps in risk management and customer service.
- Impact: IBM Watson has been a pioneer in applying AI to real-world business problems, promoting the concept of cognitive computing and demonstrating the potential for AI to augment human decision-making in complex scenarios.
OpenAI
- History: OpenAI was founded in December 2015 by Elon Musk, Sam Altman, Greg Brockman, Ilya Sutskever, Wojciech Zaremba, and John Schulman. It started as a non-profit artificial intelligence research company with the goal of promoting and developing friendly AI for the benefit of humanity as a whole.
- Products: OpenAI is known for its advanced natural language processing AI, GPT (Generative Pre-trained Transformer) series, including GPT-3. It has also developed DALL-E, an AI system capable of creating images from textual descriptions, and Codex, which powers GitHub Copilot, an AI pair programmer.
- Impact: OpenAI has had a significant impact on the AI field by publishing research, releasing open-source software, and engaging in debates about the ethical implications of AI.
DeepMind
- History: DeepMind Technologies was founded in September 2010 by Demis Hassabis, Shane Legg, and Mustafa Suleyman in London. It was acquired by Google in 2014 and became part of the Alphabet Inc. conglomerate.
- Products: DeepMind is renowned for its work in deep learning and reinforcement learning, with notable achievements including AlphaGo, which defeated the world champion Go player, and AlphaFold, which has made significant advancements in predicting the 3D structures of proteins.
- Impact: DeepMind’s research has pushed the boundaries of what is possible in AI, particularly in the field of game playing and scientific discovery, influencing numerous other sectors and research areas.
📝 Startup Profiles
Tempo Automation – While not as famous as some, Tempo Automation is revolutionizing the field of electronics manufacturing through AI. They use AI to automate the process of electronic circuit board manufacturing, which significantly speeds up prototyping and production for electronics companies.
UiPath – Specializing in Robotic Process Automation (RPA), UiPath has become a leading name in automating mundane and repetitive tasks. By leveraging AI, the company’s software robots emulate and integrate human actions within digital systems to optimize business processes. Their technology is used by companies around the world to improve efficiency and productivity.
Cohere – Cohere is a startup focused on natural language processing (NLP). They provide powerful language models that enable developers to integrate advanced AI language capabilities into their applications. With the mission to build machines that understand the world, Cohere is making strides in making AI’s understanding and generation of human language more accessible and useful for a variety of applications.
📈 Trends
- AI and Robotics: There is a growing trend of combining AI with robotics to enable more sophisticated and autonomous systems. This includes advancements in reinforcement learning for robotic control and navigation.
- Edge AI: Deploying AI on edge devices, such as smartphones and IoT devices, is gaining traction. This allows for faster processing, improved privacy, and reduced reliance on cloud-based services.
- AI for Climate Change: AI is being leveraged to tackle climate change issues, from optimizing energy consumption to analyzing climate patterns and developing more efficient materials.
- Intel CEO attacks Nvidia on AI: ‘The entire industry is motivated to eliminate the CUDA market’. The CUDA (Compute Unified Device Architecture) platform is a software framework developed by NVIDIA to expand the capabilities of GPU acceleration. It allows developers to access the raw computing power of CUDA GPUs to process data faster than with traditional CPUs.
Here are 7 current developments in the AI industry:
- AI and Vaccine Development: AI has played a significant role in the rapid development of vaccines, particularly highlighted during the COVID-19 pandemic, by predicting how protein structures would fold (MIT Technology Review).
- Fully Automated Driving and Robotaxis: Advances in AI have led to the development of fully automated driving systems and the rollout of robotaxis, which are poised to transform the transportation industry (MIT Technology Review).
- Applied Natural Language Processing (NLP): NLP has seen significant improvements, enabling better human-AI interactions and understanding of diverse languages and situations (MIT Technology Review).
- Quantum AI: The intersection of quantum computing and AI is a burgeoning field that promises to solve complex problems much faster than traditional computers (MIT Technology Review).
- AI in Cybersecurity: AI technologies are increasingly being used to enhance cybersecurity measures, detect threats, and protect data privacy (VSoft Consulting Blog).
- AI with the Internet of Things (AIoT): The combination of AI with IoT devices, known as AIoT, is leading to smarter and more efficient systems and applications (VSoft Consulting Blog).
- AI-Driven Process Automation: Intelligent Process Automation (IPA) uses AI to manage and automate digital processes, leading to increased efficiency and reduced errors (VSoft Consulting Blog).
That’s it for this week. See you next week!
