Hi friends 👋 wellcome back to another post of “WeirdWorld“ newsletter where we provide you with the latest news, articles, tools, etc. related to the artificial intelligence industry in a summary form.

🤖 What we have today?

• Google plays catch-up

• How will governments regulate AI?

• Goldman Sachs is bullish on AI

👨‍💻 GOOGLE PLAYS CATCHUP

We knew it would happen eventually...

Google seems to be following in Bing's footsteps. Their CEO, Sundar Pichai, has announced Bard's integration into their search engine.

Ever since OpenAI's release of ChatGPT, Google has had more reason to worry about its main revenue stream: ad revenue from searches.

Last year, search ad revenue brought in $162B for the company.

Microsoft piled on the pressure by incorporating ChatGPT functionality into Bing. (Note: Bing still accounts for less than 10% of global search traffic)

Yet, Pichai dismissed the notion that chatbots pose a threat to Google’s search business.

Despite cost cuts, Google has continued to push forward with its AI efforts. They've tested new AI features in Gmail and other work-related products.

🏦 HOW WILL GOVTS REGULATE AI?

If you've had any dealings in the crypto world, you may have noticed a similarity to AI:

Both have little-to-no agreed-upon regulation.

In fact, each country has a different stance on AI. Let's look at a few 👇

• 🇺🇸 United States

  • Home to many top AI companies (OpenAI, Microsoft, Google)

  • Pouring billions of $$ into AI startups

  • No specific regulatory framework for AI (yet)

• 🇨🇳 China

  • Outputting of the most AI scientific papers

  • Launched "AI for Science" program

  • Govt censorship poses risks to AI progress in country

  • Home of Baidu and other key AI players

• 🇮🇹 Italy

  • Banned ChatGPT due to "violating the country's user privacy policies" 🤔

  • (Will other EU countries follow suit?)

• 🇬🇧 United Kingdom

  • Published a paper outlining recommendations for dealing with AI

  • Pro-individual sectors of country handling regulation

• 🇮🇳 India

  • Issued "National Strategy for AI" and "Responsible AI for All" reports

  • Has the highest AI trust score of any country (75% of the population)

One interesting trend is that developing countries tend to be more receptive of AI.

🎯 GOLDMAN SACHS IS BULLISH ON AI

New information has surfaced regarding AI's impact on the global economy, and for once...

It's positive!

Goldman Sachs Research suggests generative AI could:

• Raise global GDP by 7%

• Increase productivity growth by 1.5% (over a 10-year period)

• Expose up to 300 million full-time jobs to automation

That last point may come off as suspect. But don't worry, not all automated work will result in layoffs.

After all, long-run employment growth comes from the technology-driven creation of new positions.

Advances in AI are also expected to have far-reaching implications in every industry.

The total addressable market for generative AI software is estimated to be $150 billion.

So how exactly will we get there?

Generative AI will innovate businesses by:

• Streamlining business workflows

• Automate routine tasks

• Give rise to a new generation of business applications.

As these tools are developed, Goldman Sachs Research posits that businesses will stand to benefit immensely from them.

MIGHT YOU LIKE:

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• Chroma raises $18M seed round.

• Sparks of AGI - Early experiments with GPT-4.

• DiffMimic - Efficient motion mimicking with differentiable physics.

  Microsoft adds Bing AI chat to SwiftKey keyboard for Android.

COOL TOOLS

• June AI: Answer product questions using English

• Avoma 3.0: AI Meeting Assistant: Human-like meeting notes generated 100% by AI

• AI Query: Generate SQL Queries with AI in Seconds

• Mayday: The AI-assisted calendar that helps you make time to thrive

• IngestAI: Build next-gen AI-powered bots in any social & messaging app

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