📈 How are companies using AI?

➜ Apple Finally Launched Its AI. A lot of new AI features are coming to iPhone and Mac.

• ChatGPT is coming to Siri and other Apple apps;
• You can ask Apple Intelligence about files on your devices or create AI images of people you’re messaging with.

As expected, for all these AI features, you need an upgrade – only the iPhone 15 Pro and 15 Pro Max, along with iPads and Macs with M1 or newer chips will be able to run them.

The Verge

➜ ABN Amro Turns to AI for Trade Finance Automation. The Dutch bank is automating some manual processes, specifically around letters of credit and documentary collections, which usually involve manual tasks based on images of paper documents such as bills of lading and invoices. This is one of the first uses of LLMs for trade finance.

Finextra

➜ AI Boom Makes Nvidia Pass $3 Trillion Market Cap. After Apple, and Microsoft, Nvidia has become the third US company to surpass this threshold. One word for this level of valuation: crazy. 

CNBC

➜ AI Consolidation In Enterprise AI Tooling. Two enterprise AI pioneers are merging: Sirion Labs, a specialist in contracts, has bought Eigen Technologies, a company that focuses on parsing and extracting insights and data from documents in insurance, finance, and law. Media says it’s a part of the bigger trend—enterprises are looking for one-stop-shop AI vendors.

TechCrunch

➜ AI Marketplace with Data to Train LLMs. Interesting niche: a London-based Human Native AI is building a marketplace where AI developers could get data to train their LLMs while compensating the right holders. “During a gold rush, sell shovels.”

HumanNative AI

💡 What are the nerds up to?

➜ Biggest AI Flop. The Humane AI Pin promised a sort of a Star Trek communicator. It has raised over $200 million from prominent figures, including Sam Altman or Marc Benioff. The device has launched, got awful reviews, and founders are already looking to sell the company just one month after the launch. Dead on arrival?

NYTimes

➜ Anti-AI Social Platform Grows on the Back of Meta’s New AI Policy. Every week big tech is losing, some startup is celebrating. This week belongs to Cara, an artist-run social platform that has grown from 40k to 650k users within the last week. Why? Instagram is using public posts and stories to train Meta’s new generative AI. Artists are not happy.

Mashable

➜ Google Researchers Show Data on AI Adoption. Some facts: 

• AI now assists in over 8% of code review comment resolutions at Google;
• Google's AI-assisted code completion has an acceptance rate of 37% among engineers;
• LLM-based inline code completion is the most popular application of AI applied to software development;
• AI-assisted code is as long (the same amount of characters in the code) as the code manually typed by developers.

Google Research

➜ GenAI Is Not Going To Replace Engineering Teams. “It’s easy to generate code, but not so easy to generate good code,” says Charity Majors, co-founder and CTO of honeycomb.io. Having said that, Majors, an ex-engineering manager at Facebook provides areas where generative AI consistently shines, eg. ChatGPT generating example code using unfamiliar APIs instead of reading the API docs.

StackOverflow

➜.101 AI for Devs: How to run and test AI models? What are the steps to implement and run them on personal or server machines? Our AI & R&D leaders at Netguru will cover the very fundamentals—if you’re an engineer who wants or needs to gain a better understanding of AI and its practical applications, sign up.

Netguru event on LinkedIn

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