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🧠 AI CEOs head to the White House
PLUS: Edtech shares tumble on prospect of AI tutors
Alan Buxbaum & Alex Valaitis
May 04, 2023
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Hey Big Brain fam,
Another day, another company getting impacted by ChatGPT. Today it’s my favorite study tool from college (Chegg).
Tomorrow, it looks like it could be Hollywood.
Today's AI spotlights:
AI CEOs head to the White House 🏛️
ChatGPT takes Chegg to school 🎓
Are film-writing jobs next on the chopping block? 😣
🏛️ AI CEOs HEAD TO THE WHITE HOUSE
Yo, guess what's going down? VP Harris is having a cozy little AI chat with the big dogs from Alphabet, Anthropic, Microsoft, and OpenAI. Sounds like a party, amirite?
The Biden admin wants to get all touchy-feely on AI issues, and Harris is gonna lay down the law about ethical, trustworthy innovation. cue the dramatic music
Arati Prabhakar, White House's science and tech boss, sent some snail mail invites to the CEOs like it's 1999. They're gonna have a "frank discussion" (whatever that means) about AI risks and how to make sure it benefits us mere mortals.
But wait, there's more. The guest list includes some bigwigs like Commerce Secretary Gina Raimondo, Biden's BFF Jeff Zients, national security adviser Jake Sullivan, and economics honcho Lael Brainard.
This little get-together is meant to build on an AI Bill of Rights blueprint the admin dropped recently. It's all about seizing AI opportunities while mitigating risks. Go figure.
So, to sum it up: Harris + big AI players = serious AI tea party. Stay tuned for the drama, y'all.
📢 CHATGPT TAKES CHEGG TO SCHOOL
It pains us to say it, but the the once-loved Chegg is getting somewhat schooled by generative AI.
How can we be so sure? Well, their shares fell like a $PEPE-derivative, plummeting after Chegg admitted ChatGPT hit its finances.
Let's look at some specifics:
Chegg's revenue dropped 7% YoY to a sad $187.6M
Its subscribers dipped 5% (to just 5.1M)
The company's shares tumbled 37.5% to a measly $11. Oof.
Chegg's situation is indicative of others within the education industry. Many are now scrambling to keep up with AI that can replicate their services and products on the cheap.
In fact, it's somewhat ironic that Chegg was previously accused of helping students cheat. Now, they're facing a bigger cheater: ChatGPT.
Chegg CEO Dan Rosensweig said generative AI is impacting businesses "at a faster pace than people are used to".
Yea, no kidding.
Analysts say ChatGPT directly replicates Chegg's "study guide" service.
But for Pearson, it's a "second order threat" that'll alter content creation in mysterious ways.
📰 Read the Full Article Here (non paywall here)
🔦 ARE FILM WRITING JOBS NEXT ON THE CHOPPING BLOCK?
Remember the writers' strike of 2007?
Well, we don't mean to sound dramatic but...chatbots might just take over Hollywood.
After all, who needs a script when you've got generative AI, right?
At first, writers saw AI as a tool for collaboration. Now, they're feeling the heat as it becomes a key deal point in union negotiations.
Big Fish writer John August, a WGA-negotiating-committee member, says they want to ensure AI doesn't replace writers.
But according to Future Today Institute CEO Amy Webb, it's happening already. This is due to execs inquiring about AI-written scripts in case of a strike.
Sneaky, sneaky.
So how real is the AI-fear, long-term? Webb thinks the tech could help with formulaic shows like Law & Order, but doesn't believe writers will be fully replaced.
The WGA is the first labor organization to tackle AI and it won't be the last.
Sure, the future is uncertain; but one thing's for sure:
Hollywood is in for a wild ride.
📰 OTHER HEADLINES & STORIES
🛠️ AWESOME AI TOOLS
💼AI JOBS
🖼️ AI ART PIECE
One is Midjourney 5.1, the other is real. Which is which? — u/RecipeRobotAI
🤖 CHATGPT PROMPT OF THE DAY
You vs the guy she told you not to worry about (Via Reddit)
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