The Business Of AI
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Musk building AI supercomputer 😲 | AI to replace 50% of jobs by 2027

Musk building AI supercomputer 😲 | AI to replace 50% of jobs by 2027

The Latest AI News

Adam Smith
May 31, 2024

Coming up this week:

- xAI: Building AI Supercomputer
- Google: New AI Chromebook
- Klarna: Cuts Staff For AI

And much more… Learn how these unfolding narratives are shaping The Business of AI.

FEATURED STORY 🔥

Elon Building AI Supercomputer 😲

Elon Musk's AI company, xAI, has acquired 10,000 NVIDIA H100 AI chips.

This substantial investment aims to build a supercomputer, enhancing xAI's AI development and training capabilities. The $6 billion funding round, supported by investors like Andreessen Horowitz and Tiger Global, underscores xAI's ambition to compete with leading AI firms.

The demand for advanced AI hardware has significantly boosted NVIDIA's stock, showcasing the strategic importance of these chips in the AI industry's growth

TRENDING STORIES 🔥

Google Unveils New Chromebook Plus Features

Google introduced new AI enhancements for Chromebook Plus, including a writing assistant, wallpaper generator, and direct access to the Gemini chatbot. New models from HP, Acer, and Asus were also launched, alongside perks like a 12-month Google One AI Premium plan for new buyers.

Klarna has reduced its marketing expenses by utilizing AI, saving $10 million annually. The firm now relies on AI for tasks like translation and copywriting, significantly lowering external agency costs and enhancing marketing operations during major shopping events.

University of Washington researchers have developed AI headphones that allow users to focus on and hear a specific speaker's voice by simply looking at them. This technology works even in noisy settings and continues to track the speaker's voice as the user moves around.

MJ Prompt: Boho Nursery Animal with style of Loïc Jouannigot, A cute, happy whale swimming in the shining blue ocean during the summer, boho style, minimalism, simple strokes, hand drawn style, children's illustration, seabirds and sailboat in the background under the sun, white background, flat design, simple lines, vector graphics, space on top of head, cute style, pastel tones, beige color scheme.

EYE OPENING NEWS 🧠

PwC Becomes Largest OpenAI Customer

PricewaterhouseCoopers (PwC) has partnered with OpenAI to deploy ChatGPT Enterprise to over 100,000 employees in the U.S. and U.K. This move, part of a $1 billion AI investment, makes PwC the first reseller of OpenAI’s enterprise product, enhancing its consulting services with advanced AI capabilities.

Meta Considers Paid AI Assistant Launch

Meta is exploring a premium version of its AI assistant, Meta AI, currently free on its social platforms. While details remain undisclosed, the potential paid service could leverage Meta's strengths in virtual and augmented reality, potentially reshaping the AI assistant market dominated by firms like Google and Microsoft.

Jan Leike Joins Anthropic After OpenAI Exit

Jan Leike, a former OpenAI researcher, resigned due to safety concerns and has now joined Anthropic. At Anthropic, he will focus on enhancing AI oversight and alignment. This move aligns with Anthropic's mission to prioritize ethical AI development, contrasting with OpenAI's commercial focus.

AI Predicted to Replace 50% of Jobs by 2027

Kai-Fu Lee, CEO of Sinovation Ventures, forecasts that AI will replace half of human jobs within a decade, impacting white-collar roles more rapidly than blue-collar. He urges the development of human-centric skills like empathy and teamwork to remain relevant in the future AI-dominated landscape.

LLMs Outperform Analysts in Financial Predictions

A study found that large language models (LLMs) like GPT-4 can analyze financial statements and predict earnings more accurately than human analysts. Using standardized and anonymous financial data, GPT-4 achieved higher accuracy in forecasting future earnings, showcasing the potential of AI in financial analysis and decision-making.

5 Tools to Boost Your Productivity

- Generate personalized visually stunning stories in just one minute. Dorosi
- Generate videos from simple text in one minute. Moonvalley
- Craft social media posts and art, in just seconds with AI. Questgen
- Generate high-quality, engaging content 10x faster. Vidiofy
- Chat, generate, and design without limits using Generative AI. Venturus AI

Want your tool featured here? Hit reply and tell us a little about it 😍

FUNDRAISING 🤑

Praktika Raises $35.5M for AI Language Learning

Praktika, an AI-driven language learning app, secured $35.5 million in Series A funding. The company, valued at $550 million, offers personalized AI tutors to enhance natural language acquisition. To date, Praktika has raised $38 million, serving over 1.2 million users globally.

Atropos Health Secures $33M in Series B Funding

Atropos Health raised $33 million to expand its healthcare technology, which provides real-world evidence for clinical decisions. Founded in 2019, the company enhances evidence-based healthcare through its Geneva OS and AI-driven ChatRWD, aiming to improve patient outcomes.

xAI Secures $6 Billion in Series B Funding

xAI, led by Elon Musk, raised $6 billion in its Series B round, backed by top investors like Sequoia Capital. The AI company, launched in 2023, focuses on enhancing healthcare through advanced AI technologies and has introduced Grok, a conversational AI model.

Rows Nets €8M for AI Spreadsheet Expansion

Rows, a cloud-based spreadsheet platform, has raised €8 million led by Indico Capital Partners. This funding will enhance AI features and expand its market presence in the US, UK, and Europe. Rows is revolutionizing data workflows with its innovative AI integrations.

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