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AI Shakes Things Up: Today's Top Stories - 31/07/2023 The AI-o-sphere is popping with exciting news, folks! Buckle up as we dive into the "wows" and "hows" of this week's biggest headlines. From AI notetaking to AI-generated ads, the revolution is here, and we're all invited.🕺 Google Cloud & Persistent’s AI Ensemble: Six weeks to a smarter future? 🌐 Transforming businesses in just six weeks? Sounds ambitious, right? Well, Google Cloud and Persistent Systems beg to differ. Their AI partnership aims to fast-track AI integration using the Vertex AI platform, promising cost optimization and sparking innovation in the process. Who's the winner here? The businesses, evidently. The employee who spent hours manually optimizing processes, however, might need to upgrade their skill set. Google Ads' AI-Generated Ads: A marketing magic wand? 📈 Generative AI is Google Ads' new secret sauce. By simply providing prompts, marketers can now have ads auto-generated for them. But what's the catch? An impressive 18% increase in conversions, if we believe the likes of Myntra, Samsung, and HDFC. All hail the almighty AI, making marketers' lives easier one ad at a time. Thoughtworks’ AI Product Accelerator: A quick leap to competitive advantage? 💡 Thoughtworks is promising an AI makeover in just five weeks. A clear roadmap to AI use cases, strategy creation, and responsible deployment are what's on offer. Fancy tech aside, it's a bid to stay one step ahead in the business game. Let's hope the acceleration doesn't turn into a roller coaster ride for some! Fireflies.ai’s Private Storage: A safety vault for your data? 🗃️ Fireflies.ai is making a splash again with its Private Storage, allowing businesses to control where their sensitive data lands. This is great news for those fretting about regulatory compliance. But, spare a thought for the data detectives who may have just lost a treasure trove of clues. Amazon Web Services (AWS) and Accel’s ML Elevate: A golden ticket for AI startups? 💼 A generous $200K in AWS credits, hands-on AI model training, and a chance to pitch to investors! ML Elevate 2023 sounds like a golden opportunity for AI startups to get their dreams off the ground. In the words of our wise man, "Start with why." So, why are we here? To keep you updated on all things AI. And why should you follow us? Because we have a knack for making complex news simple, interesting, and sometimes even funny. Visit us at www.mindmachines.xyz and let’s stay connected. After all, AI is only as good as the humans behind it! 😄 #AI #GoogleCloud #Persistent #Thoughtworks #FirefliesAI #GoogleAds #MLelevate #AWS #Accel #AIStartups

"AI is bringing a return to the technical founder" - YC I just watched this video and found it interesting. Basically it's the YC partners talking about their recent strong interest in AI... which is something they made a public call for recently: https://lnkd.in/g8xr4hNC But their point is that in recent years... there have been less and less technical founders b/c of the advent of no code tools, etc. And so it was less important to be technical. But now with AI most of the founders are technical again. And so YC feels like they are "getting back to their roots". But will be interesting if this plays out in the SEA ecosystem too... ie. the return of the "technical founder". https://lnkd.in/ghe9juM2

💼 Portfolio of Experiments -- A Framework for AI Builders Running experiments is an integral part of life for early stage AI founders! I've been thinking about a useful framework that can be used to navigate this part of the journey. A good analogy here is that of a financial manager running a power-law-adhering portfolio. Most will fail in this portfolio. Some will be okay. And a small number of them will pay out big time. Here's how AI founders can think about it as they build their portfolio: 1️⃣ DEFINE YOUR SUPER SPECIFIC CUSTOMER: You're solving a specific problem for a specific person. Who's that person? Learn everything there is to know about that person. 2️⃣ NARROW DOWN THE PRODUCT SCOPE: Don't over-engineer things. Start with smaller AI models that already work. Make sure they don't require too much data and compute power. 3️⃣ MINIMIZE INITIAL INVESTMENT: Run experiments that don't require millions of dollars and months of work. Find ways to access low-cost (or free) AI compute power. You need to prove/disprove your AI hypotheses by spending the least amount of resources possible. 4️⃣ BUILD YOUR DATA ADVANTAGE: Understand the data you have access to. Is it unique to you? Can anyone access it with some time and effort? And no, your Fortune 500 pilot customer telling you that you're the ONLY startup they will give the data to doesn't count. 5️⃣ USE EXISTING AI TOOLS: Don't reinvent the wheel on anything. Capitalize on available tools, datasets, APIs, and pre-trained models. These tools will accelerate your AI experimentation timeline. 6️⃣ GET ACCESS TO TALENT: Having access to AI talent is a critical component here. You need to find ways to get great AI people to work on your product. 7️⃣ EMBRACE UNCERTAINTY: There are no certainties in the world of AI. Only probabilities! Building a product that a specific group of people love is like catching lightning in a bottle. Most AI experiments will fail and that's okay. Be prepared to iterate, refine, and validate your hypotheses continuously. Efficient and effective AI experimentation is a great way to accelerate your path to product-market fit. #ai #startups #artificialintelligence #venturecapital #experimentation

🔈 Calling all founders & the startup community! Tired of the same old tools? Unleash groundbreaking potential with Google AI. Gemini Advanced transforms learning, idea generation, and execution. Let's build the future together – powered by AI. Subscribe to Google One AI Premium. #GoogleAI #Gemini #startups #welovefounders #innovation

An excerpt from our latest investor update newsletter going out tomorrow morning talking about how we are thinking about building a #GenerativeAI product. Let me know what you think! -- Startups are extremely resource-constrained businesses and get severe diminishing returns on re-engineering open-source generative AI systems. If Google can't keep up with open source, what hope do most startups have? The next iteration of general-purpose models perform better for most use cases than what almost all startups can build or finetune with existing models. This will probably continue until at least the next iteration of models are released in 2024, but potentially beyond then if Anthropic is to be believed. It's a lot more efficient to focus limited resources on improving what you feed into the model for one-shot learning, how you link models together, and how the end product is delivered to the user. Doubly so if you're currently pre-launch as we are at Coso. For many use cases, the next iteration of Gen AI will drastically improve your product-market fit, and focusing on product delivery now is an exponent of this. What this means for us: ➡️ On the input side, we are increasing the sources of data for Coso - blogs, product pages, news articles, the number of social pages we're tracking, etc. Just this week we've started tracking over 1,000 new Instagram pages daily. ➡️ On the output side, we'll have our scheduling dashboard live this month - this is how we deliver our USP in a way that maximizes its utility to our customers. I would love to hear your thoughts on this philosophy, how it's playing out in your business and those you've invested in, and if there are gaps in our logic or interesting edge cases?

Embracing AI's Path: Navigating Early Challenges to Unlock Future Potential Recently, at a founders' meetup, I found myself debating the promise of AI. I’m a believer because I build and work with it daily. At times during the debate the person I was chatting with reminded me of an earlier version of myself. In 1998 I shorted eBay on its IPO. I didn’t use the platform much, and I didn’t really understand the power of online reviews (which was very new at the time) and I thought : “This thing is going to be fraught with problems and it will crumble under its own weight.” It was small potatoes, but I lost 33% in one day, closed my short, and have been thinking about my hubris ever since. If I was long the stock that day, and held, I would be up 120x and my $12k would be worth $1.44 million today. Entrepreneurs regularly grapple with initial skepticism. Such instances shouldn't discourage but rather serve as reminders. Every groundbreaking journey in technology begins with learning from early setbacks. These moments are crucial for growth and fostering meaningful conversations. As we explore AI's idiosyncrasies and occasional glitches, it's essential to avoid underestimating its potential evolution. History is littered with examples where initial doubts eventually make way for groundbreaking developments. Remaining in the camp of skeptics can be costly in terms of both money and time – a situation best avoided. Segue to an interesting point: GitHub’s Co-pilot reportedly enhances programmer efficiency by up to 50%. A CTO I encountered recently claimed his productivity soared fivefold thanks to Co-pilot. While this may sound fantastical, even if his experience is an overestimation by 75%, Co-pilot still offers a significant efficiency boost. His advice? The key lies in a well-commented codebase. Acting on this insight, this morning, I instructed our tech development team to enhance our code comments substantially. These enriched comments will act as strategic prompts, enabling our team to leverage Co-pilot more effectively. It's not just about using advanced tools; it's about preparing our environment to make the most of these innovations.

Midjourney is a special place in the world of AI creativity. It was started by David Holz, who wanted to create a lab to explore new ways of thinking. The goal was to use advanced AI technology to help people be more creative. Midjourney is famous for its Discord bot, which you can use with the "/imagine" command. This bot turns simple descriptions into amazing artworks. They launched a test version on July 12, 2022, and have been making the image creation better with regular updates. Here's some interesting information about Midjourney: 1. More than 250,000 people use Midjourney on Discord, and by August 2023, they had created one million images! This makes Midjourney the most successful AI image creator in the world. 2. Midjourney's official Discord server has over 13.6 million members. This means a lot of people like and follow Midjourney in the AI art community. 3. Midjourney is a popular place. In June 2023, the website got 48.5 million according to Semrush. This shows that a lot of people are interested in exploring and creating AI-generated art on Midjourney. Founded in Feb 2022 ; now becomes a $10B company. Roughly added $15M value everyday. Iconic❤️ __ Follow Arin Verma Source: In comments #india #startup #ai #business Subscribe to my newsletter 'BusinessBuzz.' Link is in comments.

In this week's Computerspeak newsletter, I look at the turbulence hitting the AI startup landscape—and dig into the reasons why the companies that survive in 2025 may ultimately look very different than the ones earning all the hype on social media today: https://lnkd.in/ey8fuECu