📈 How are companies using AI?

➜ Target Launches GenAI-Powered Store Companion: Target is set to launch Store Companion, an app that uses generative AI technology to help employees find all the answers they might need much quicker. The chatbot can also offer on-the-job learning resources for new or seasonal employees. This move is expected to improve employee productivity and efficiency, while also delivering a better guest experience across Target’s nearly 2,000 stores. 

Target

➜ AI to Impact Over Half of Banking Jobs: More than half of all banking jobs could be impacted by the rise of AI in the coming years. AI is about to lead significant changes in the banking industry, with many jobs being automated or outsourced to AI-powered systems.
Citi Research

➜ Apple Shelves Meta's AI Models Over Privacy Concerns: Apple has recently shelved plans to integrate Meta's AI models into its products due to privacy concerns. They are concerned about the potential for user data to be compromised if it integrated Meta's technology into its products. Wouldn’t be a good move, PR-wise.

TechCrunch

➜ No More Drive-Thru AI? McDonald’s is ending its two-year test of drive-thru automated order taking (AOT) done in collaboration with IBM. The company plans to remove the technology from the more than 100 restaurants that have been using it. AI didn’t deliver? The Chicago-based fast-food giant claims drive-thru AI IS the future, suggesting that it’s a matter of finding a new partner. Ouch!

Restaurant Business

➜ Record Labels Concerned Over Music-Making AI: Sony Music and Universal Music Group are calling for greater regulation and oversight of music-making AI due to concerns over intellectual property rights and the impact on songwriters and musicians. Warner Music Group has already taken legal action against music-making AI companies, while Sony is calling for industry-wide standards. 

Morning Brew

💡 What are the nerds up to?

➜ Safety First: New Endeavor From ChatGPT Maker: OpenAI’s co-founder and former chief scientist Ilya Sutskever is starting a new artificial intelligence company. The business, announced on X as Safe Superintelligence, is supposed to create a safer AI environment. “Our singular focus means no distraction by management overhead or product cycles, and our business model means safety, security, and progress are all insulated from short-term commercial pressures" – promises Sutskever.  

Reuters

➜ New AI Project Aims to Mimic the Human Neocortex: Numenta CEO Jeff Hawkins believes that the key to creating more advanced AI lies in understanding how the brain works. Numenta is about to create AI systems inspired by the neocortex that are better at recognizing patterns and predicting outcomes than traditional algorithms.
IEEE Spectrum

➜ Lex Fridman Interviews Perplexity CEO on Future of AI and Web Search: Lex Fridman interviewed Aravind Srinivas on topics including the history and future of AI, web search, and business advice. They focused on the advancements in AI over the years and the potential impact on society. Worth a watch! 

X

➜ OpenAI CTO Suggests Some Creative Jobs May Not Be Necessary: “Some creative jobs maybe will go away, but maybe they shouldn’t have been there in the first place,” pointed out OpenAI's Chief Technology Officer, Mira Murati during a recent talk at Dartmouth's School of Engineering. However, Dartmouth trustee Jeffrey Blackburn, argued that creative jobs will always require a human touch.

The Verge

➜ Bing and Google's AI use OpenAI's GPT-3 Chatbots for Personalized Customer Service: Tech giants are using OpenAI's GPT-3 chatbots to improve customer service experiences. Bing and Google's conversational AI chatbots are now equipped with the GPT-3, enabling them to understand the complexity of human language and provide more personalized responses.

Dartmouth Engineering

Thanks for reading!

I share these stories because I believe it's important for all of us to keep up with AI. To support my mission, share this newsletter on LinkedIn.