📈 How are companies using AI?

➜ Google Launches AI-Powered Virtual Dress Try-Ons. Just in time for New York Fashion Week, Google now lets shoppers virtually try on dresses using AI. Partnering with Simkhai, the feature allows users to see outfits on models of various sizes. Much needed as, according to Google, 42% of online shoppers “don’t feel represented by images of models.” Available only in the US. 

Retail Dive

➜ Chatbot Ads: We Saw It Coming. Amazon’s shopping-focused chatbot, Rufus, will soon display sponsored ads based on user conversations and search queries. This move mirrors Microsoft's similar ad experiments with its AI-driven Copilot. The ads aim to improve product discovery while helping Amazon offset AI development costs. 

TechCrunch

➜ JPMorgan Chase Bets Big On AI Tools. JPMorgan is deploying its LLM Suite to 140,000 employees, aiming to boost operational efficiencies and prevent fraud. The bank projects up to $2 billion in AI-driven benefits over the next few years, according to President & COO Daniel Pinto. Pinto estimates JPMorgan’s AI use cases could deliver up to $2 billion in value. “A lot of that is related to prevention of fraud,” – he adds. Massive.

CIO Dive

➜ Mastercard Acquires Threat Intelligence Firm for $2.65B. Mastercard is buying Recorded Future to enhance its fraud prevention and cybersecurity capabilities. The AI-powered threat intelligence company serves 1,900 clients across 75 countries. Mastercard plans to use this acquisition to boost real-time decision-making and prevent cyberattacks in the payments ecosystem. 

Finextra

➜ Hyper-Personalization in Proptech. Newzip, a real estate-as-a-service platform, partnered with Netguru to develop an AI-driven PoC that hyper-localized content for users. The project boosted user engagement by 60% and increased conversions by 10%. The AI system refined agent and home buyer matchmaking processes, and streamlined communications for lenders, delivering hyper-personalized insights for 10k+ users nationwide. 

Netguru

➜ One Step Closer to More Responsible AI. The US, UK, and EU have signed the Framework Convention on Artificial Intelligence, a legally enforceable treaty ensuring AI aligns with human rights and transparency. While monitoring enforces compliance, the treaty could influence AI regulations globally. Other signatories include Israel and Norway. 

The Verge

➜ Oprah’s AI Special with Sam Altman and Bill Gates. Oprah hosted an AI-focused special featuring Sam Altman, Bill Gates, and others. Discussions ranged from Altman’s optimism about AI regulation to Bill Gates’ hopeful outlook on AI in education and healthcare. FBI Director Christopher Wray warned about AI’s role in deepfakes and online threats. TechCrunch put together key highlights. 

TechCrunch

💡 What are the nerds up to?

➜ Better Reasoning with ‘Strawberry’ From OpenAI. OpenAI released o1 – the first in a planned series of “reasoning” models that are trained to answer more complex questions, faster than us. An expensive game for developers, at $15 per 1 million input tokens and $60 per 1 million output tokens (GPT-4o costs $5 per 1 million input tokens and $15 per 1 million output tokens), o1 should hallucinate less and, in the near future, perform “similarly to PhD students on challenging benchmark tasks in physics, chemistry and biology.” 

The Verge 

➜ Integrating OpenAI’s o1 With GitHub Copilot. If you’re wondering how the new model adds value, you’ll find all the answers in a blog from Mario Rodriguez. “o1-preview’s reasoning capability allows a deeper understanding of the code’s constraints and edge cases, which helps produce a more efficient and higher quality result,” – in short, ‘Strawberry’ does REALLY well at demos.   

GitHub

➜ Choice Overload Can Be Stressful. Stress no more – a new, free tool is here to help you navigate AI models with ease. They have indexed more than 1000 prominent models to make your choice much faster. Just prompt the app, et voilà!

Elementera Model Navigator 

➜ Just How Innovative Can You Get. According to a new year-long study from Stanford, LLM-generated research ideas are more novel than ideas by expert humans. Are we ready to entrust innovation to LLMs? Not just yet. The same research concludes the ideas generated by AI are “slightly weaker on feasibility.” For now.

Reddit

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