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Financial sector embraces generative AI and expects widespread adoption in two years, study finds

Summary The financial industry will drive the use of large-scale language models, according to a study by the Alan Turing Institute. The study was conducted in collaboration with HSBC, Accenture, and the UK’s Financial Conduct Authority (FCA). The financial industry, which has historically been quick to adopt new technologies, has already begun to use language …

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Anthropic’s Claude 3 replaces OpenAI’s GPT-4 as most popular user-rated LLM

Summary Anthropic’s Claude 3 Opus has knocked OpenAI’s GPT-4 off the top of the chatbot leaderboard for the first time. According to the Chatbot Arena Leaderboard, Anthropic’s Claude 3 Opus has taken the top spot from OpenAI’s GPT-4 for the first time. Claude 3 Opus now ranks first based on how real people rate chatbot …

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US companies invest big in AI, but measuring success remains a challenge

Summary US companies are quickly bringing in generative AI systems and greatly raising their spending. But the biggest problem is still figuring out how much money they will get back on their investment. Generative AI has caused a big spending surge among top US companies. A survey by Andreessen Horowitz of 70 leaders from Fortune …

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Eleven minutes a day is enough for an AI breakthrough, Microsoft says

Summary Microsoft claims in a new study that saving just eleven minutes a day by using AI is enough for most people to find the technology useful. For the study, Microsoft asked 1,300 Copilot users from various functions and industries about the impact of AI on their productivity, job satisfaction, and other factors. After eleven …

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Google’s VideoPrism is a versatile AI model for general-purpose video understanding

Summary Google Research presents “VideoPrism”, a new visual video encoder that can be used for a variety of video understanding tasks. According to Google, VideoPrism can be used for many tasks involving video understanding and analysis. The model excels at recognizing objects and activities in videos, finding similar videos, and, when combined with a language …

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OpenAI reports on the first creative use of its video AI

Summary OpenAI’s new text-to-image model Sora is still in its early stages, but the first artists and creatives are already testing it. OpenAI has now published some impressions of the creative use of Sora. Since the limited launch of Sora a month ago, OpenAI has been working with visual artists, designers, creative directors and filmmakers …

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Google, Intel, and Qualcomm aim to break Nvidia’s AI dominance

Summary A consortium led by Google, Intel, and Qualcomm aims to break Nvidia’s stranglehold on software for AI chips with a new open-source platform. The goal is to move AI development away from Nvidia’s proprietary CUDA platform. Nvidia is best known for its AI hardware. But a big reason for its dominance in chips is …

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Apple could choose multiple partners for generative AI on iPhone

Summary Apple is reportedly in talks with Alphabet, OpenAI, and Anthropic about using generative AI in iOS 18. Instead of committing to a single partner, Apple could rely on multiple vendors and open up iPhone AI to developers. According to Bloomberg’s Mark Gurman, Apple is currently in talks with several potential partners about integrating generative …

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MIT researchers develop method for lightning-fast image generation based on Stable Diffusion

Summary Until now, diffusion models could only generate high-quality images with many iterations. A team at MIT has now succeeded in compressing the process into a single step – with a quality comparable to multistep Stable Diffusion. Scientists at MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL) have developed a new method that can dramatically …

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