Today’s biggest stories if you’re in a rush
The big dogs of tech are heading to Washington, and they’re bringing their AI debates with them. We’ve got Elon Musk and Mark Zuckerberg, two titans who couldn’t be more different, about to take center stage on Capitol Hill. The topic? The future of artificial intelligence.
Now, the tech industry is a house divided when it comes to AI. Some are all for pushing the envelope, advancing AI at breakneck speed. Others are pumping the brakes, warning of potential existential threats lurking in the shadows.
Musk, ever the alarmist, is sounding the sirens. He’s calling for a six-month hiatus on developing “human-competitive” AI. His argument? This tech could pose “profound risks to society and humanity”. Zuckerberg, on the other hand, sees AI as a tool for human empowerment - if we play our cards right.
This meeting isn’t just another day in D.C. It could shape the future of AI regulation in the U.S., and by extension, the world. The stakes are high, and the world is watching. Whatever happens next will have ripple effects across the tech industry and society at large. Buckle up, folks - it’s going to be a wild ride.
- - - - - - - - - - - - - -
Amazon is shaking things up with a new generative AI tool for sellers. This isn’t just any tool - it’s a game-changer designed to simplify the listing creation process and help sellers craft engaging and effective product listings.
Generative AI is already making waves in tasks like building spreadsheets and writing essays. Now, Amazon is harnessing this tech to improve the listing creation experience for sellers.
The new AI capabilities will help sellers create more thorough and captivating product descriptions, titles, and listing details. This isn’t just about making it easier for sellers to list new products - it’s about enriching existing listings and helping customers make more confident purchase decisions.
Before, creating compelling product titles and descriptions was a chore. Now, Amazon’s new generative AI capabilities are set to change that, reducing the need to enter many pieces of specific product data to just one step.
Sellers just need to provide a brief description of the product. Amazon then generates high-quality content for their review. Sellers can tweak these if they want, or they can directly submit the automatically generated content to the Amazon catalog.
This is a win-win situation. Sellers get to create high-quality listings with less effort, and customers get more complete, consistent, and engaging product information. It’s a whole new shopping experience.
- - - - - - - - - - - - - -
EY, the consulting firm, is making a big bet on AI. The professional services firm announced it has invested a whopping $1.4 billion in artificial intelligence and is rolling out a platform offering AI-powered versions of its consulting products to businesses.
This move aligns EY with rivals like KPMG and Accenture, who are also pouring billions into AI in the hope it will drive their growth. The new platform, EY.ai, has AI-embedded versions of the firm’s products like EY Fabric, which 60,000 clients already use.
“AI’s moment is now. Every business is considering how it will be integrated into operations and its impact on the future,” says EY Global Chairman and CEO Carmine Di Sibio.
EY plans to train its staff in the technology and will release a large-language model (LLM) called EY.ai EYQ1. The company secured early access to Microsoft’s Azure OpenAI capabilities like GPT-3 and GPT-4 through an existing partnership with the software giant.
This investment in AI is a clear signal that EY is ready to embrace the future. It’s a bold move that could redefine the consulting industry.
Listicle of what else is happening today
German Military: The German military is investing millions into an AI ‘metaverse’ for weapons testing, simulating real-world battle locations.
FPT: Vietnam’s top tech firm, FPT, is eyeing growth in AI and chip production, with no immediate plans for a US IPO.
Salesforce: Salesforce is backing six AI nonprofits, investing $2 million into generative AI technologies for social impact solutions.
KBank: Thailand’s KBank has launched a $100 million fund targeting investments in AI and Web3.
Coca-Cola: Coca-Cola has launched a new flavor, Y3000, co-created by artificial intelligence.
Congress & AI: The US Congress is grappling with trust issues exacerbated by generative AI, leading to closed-door briefings with tech leaders.
EU Supercomputers: The EU is offering responsible AI startups access to its high-performance computing supercomputers.
Adobe Firefly: Adobe’s Firefly generative AI models are now generally available.
TOOL OF THE DAY
AI tools we’ve used, loved, and recommend above all others
If you figure out how to properly prompt this thing, it’s power is actually unbelievable.
Like, press a button and get your whole solution powerful. We’re still tweaking with it, but we’re getting pretty good at making it do what we need it to.
We’re thinking about putting together a short email course on how to use godmode.space to it’s full potential - would you be interested in learning a skill such as this?
FRIDAY DISCUSSION: AI+UBI
An in-depth look at the impact of AI on society
The rise of AI and automation is causing a seismic shift in the global job market. On one hand, AI is expected to drive job creation. Nearly half (49%) of companies expect adopting AI to create jobs. On the other hand, there are concerns that AI could replace a significant number of jobs. For instance, Goldman Sachs estimates that generative AI will eventually automate 300 million of today’s jobs.
This dichotomy has led to discussions about potential solutions, one of which is Universal Basic Income (UBI). UBI is a government program in which every citizen receives a regular, unconditional sum of money. The idea is to provide everyone with a basic income they can count on, whether or not they’re employed.
For instance, Erik Brynjolfsson, a Stanford University’s Institute for Human-Centered AI professor, warns that most CEOs and managers aren’t preparing enough for this transition. Scott Santens, founder and president of the Income to Support All Foundation, argues that since we all contributed to training AI, we should receive our cut of all this productivity growth. He suggests that the rise of AI could be the best argument yet for UBI.
Several countries have experimented with UBI:
Finland: Conducted one of the first large-scale UBI trials from 2017 to 2018, giving 2,000 unemployed people unconditional monthly payments of €560.
England: Recently launched a trial where 30 people will receive £1,600 per month for two years.
Kenya: Currently running a large experiment in UBI.
Iran: Has a nationwide unconditional cash transfer program.
Alaska: Gives an annual dividend to everyone in the state.
These trials aim to understand the effects of UBI on various aspects of life, including work habits, financial stability, and mental health.
While UBI could solve job displacement caused by AI, it’s not without its critics. Some worry about the economic feasibility of such programs, while others fear it could disincentivize work. However, as AI continues to evolve and potentially disrupt job markets further, discussions around solutions like UBI will likely become increasingly important.