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- 🧠 Google plays catch-up
🧠 Google plays catch-up
PLUS: How will governments regulate AI?
Alan Buxbaum & Alex Valaitis
April 07, 2023
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Happy Friday, folks! And welcome to another edition of Big Brain.
While this week felt more calm than previous weeks, there’s still a lot of AI news to catch you all up on. Let’s get right to it…
🔦 Today's AI spotlights:
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.
Interested in learning more? Check out my full Twitter thread below to get more details on this.
🔦 GOLDMAN SACHS IS BULLISH ON AI
Image credit: analyticsinsight.net
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.
📰 OTHER HEADLINES & STORIES
🛠️ AWESOME AI 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
🖼️ AI ART PIECE
Octopus in a jar — by Bruce McArthur
🤖 CHATGPT PROMPT OF THE DAY
ChatGPT keeping it a little too real 😅 (via Reddit)
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