Today: Apr 23, 2024

AI Startups lure investors, Ray-Ban Glasses with Vision into Your World

4 months ago
  • In 2023, AI startups received nearly $10 billion from investors, marking an increase from the $4.4 billion invested the previous year.
  • The second-generation Ray-Ban glasses, developed by Meta, use AI to analyse and interpret images, a capability labelled “multimodal AI”.
  • Elon Musk’s AI product, Grok, has been launched in beta phase for subscribers of his X Premium+ service, available for $16 a month.
  • Spotify has cut 1,500 jobs as it seeks to leverage AI to enhance its business efficiency and, consequently, its profits.
  • Intel and Nvidia are making use of AI tools to expedite the design of their processors.

The year 2023 may be summed up as one in which AI became good and/or bad for humanity, with the truth likely lying somewhere in between. Interestingly, actor Jack Black holds an optimistic belief that AI will prove beneficial for humanity in the long run, during an interview with The Hollywood Reporter. In terms of finances, investors poured nearly $10 billion into AI startups, which was more than double the $4.4 billion invested the previous year.

Meta has developed AI capabilities on its second-generation Ray-Ban glasses, featuring on-board cameras and audio sensors. These glasses utilise a technology known as “multimodal AI”, which combines camera and voice chat. The technology, currently limited to choosing an image, snapping a photo, and waiting for the AI to analyse the captured image, holds fascinating and promising possibilities.

November 4 saw Elon Musk announce Grok AI, designed as a competitor to OpenAI’s ChatGPT and other conversational chatbots such as Microsoft Bing and Anthropic’s Claude.ai. Grok AI, with a design modelled after The Hitchhiker’s Guide to the Galaxy, has been launched in beta phase, and buyers have been warned to expect numerous issues initially but rapid improvements going forward.

Spotify, an audio streaming service, has trimmed its workforce by 1,500 to take advantage of AI’s efficiency-improving abilities. Similarly, companies such as Intel and Nvidia are using AI to hasten the design of processors,

Another development in AI that garnered attention in the past year was that of ‘Prompt Engineering’. This is essentially a new job role designed to ensure the effective utilization of AI chatbots. The position requires effective questioning skills, allowing the AI system to deliver satisfying answers from well-phrased prompts. Many companies are actively seeking to fill these roles due to the growing importance of AI in various industries.