Generative AI Performance vs. Human Performance

☕️ Greetings tech aficionados! It's Monday, August 28th. Welcome back to our daily exploration of the AI landscape. Together, we'll navigate the latest updates, trends, and insights steering the AI and the business world. Exciting times ahead—let's dive in!

🗞️ Today’s Highlights:

• LATEST NEWS & TRENDS — What’s the future of Generative AI? An early view in 15 charts

• INDUSTRY | FUNCTION — How Generative AI Will Reshape Manufacturing

• RESOURCES — What Is ChatGPT Doing … and Why Does It Work?

• WORK — In Reversal Because of A.I., Office Jobs Are Now More at Risk

• AI TOOLS — Repurpose audio into engaging content with a single click. Laxis AI Meeting Assistant empowers revenue teams by automatically capturing and extracting key insights from every customer interaction with minimal effort.

• CHARTS — Which Countries are Most Interested in Generative AI?

🤖 By the decade's end, general AI is expected to reach median human performance in numerous technical skills, outpacing prior expert projections by up to 40 years. By 2040, it's predicted to surpass the performance of the top 25% of humans in these same tasks.

Source: McKinsey & Company

🗞️ LATEST NEWS & TRENDS

1️⃣ Generative AI is dramatically impacting industries and the job market, with the potential to add $4.4 trillion to the global economy. It has a significant influence on knowledge work, marketing, and sales, although its full potential is yet to be realized. The technology also promises efficiency gains in software development and enhanced worker satisfaction. However, challenges such as skill gaps and ethical concerns still loom large.

Reference/Source: McKinsey & Company (What’s the future of Generative AI? An early view in 15 charts)

2️⃣ AI’s Impact on Manufacturing

Amazon has long championed AI and ML, aiding over 100,000 customers, including manufacturers now exploring generative AI. According to IDC, the next 18 months will see generative AI majorly influencing manufacturing, product design, and supply chains. Using tools like Autodesk's Fusion 360, businesses expedite product creation, cutting time-to-market. Generative AI can optimize manufacturing, with data being foundational. For instance, Georgia Pacific uses AI to enhance paper production quality. Supply chain optimization, too, is achievable with generative AI, offering solutions amidst uncertainties. Overall, Amazon's cloud technology foresees vast possibilities for generative AI in manufacturing.

Reference: (How Generative AI Will Reshape Manufacturing)

3️⃣ A study by Regenstrief Institute and Indiana University indicates that natural language processing (NLP) can effectively identify social risk factors in electronic medical records, which are often unstandardized. This innovation allows healthcare providers to consider the broader life circumstances affecting patient health, leading to more tailored and potentially cost-effective care. The NLP system displayed strong performance in a different geographical setting, emphasizing its adaptability. Dr. Chris Harle, who led the study, emphasizes the role of social determinants in healthcare and the potential for a more holistic approach through technology.

Reference: (Natural language processing to extract social risk factors influencing health)

4️⃣ An AI system that generates and explains code in English. Similar to GitHub Copilot and Amazon CodeWhisperer, Code Llama assists in coding and debugging in various languages such as Python, Java, and C++. Meta emphasizes the benefits of open-sourcing code models for innovation and safety. However, concerns arise as AI coding tools can create security vulnerabilities or infringe on intellectual property. Despite potential issues, Meta encourages developers to utilize Code Llama across sectors, with some conditions.

Reference: (Meta releases Code Llama, a code-generating AI model)

5️⃣ Humans quickly adapt to technological advances. From industrial revolutions to AI, we've embraced change. The pace of tech adoption is fastening: smartphones reached 25% penetration in just five years. ChatGPT, an AI chatbot, amassed 1 million users in five days, setting records. By January 2023, it had 100 million active users. AI integration has shifted digital interaction; its rapid rise prompts the question: What's next in AI? As companies innovate with next-gen AI, three criteria ensure success: technological feasibility, economic viability, and societal values. Future AI tech includes multimodal systems, AI legal aid, humanoid robots, and research assistance.

Reference: (Rapid adoption of generative AI begs the question: What will be the next innovation in AI to capture our imagination)

🗞️ INDUSTRY | FUNCTION

Experience the transformative power of Generative AI in sales for 2023. This guide unpacks how Generative AI, underpinned by deep learning and neural networks, generates novel content mimicking human creativity. It illuminates its application in sales, from customizing pitches to predicting consumer behavior. The guide navigates through AI's broader impact on sales, implementation steps, challenges, and future trends, ultimately signaling that Generative AI is a game-changer in the sales landscape.

Reference: (Generative AI in Sales: The Comprehensive Guide for 2023)

AI and Manufacturing

AI boosts smart manufacturing by interpreting vast data from IoT devices and sensors. For years, IoT and automation have driven smart manufacturing. Now, AI adds value. The smart manufacturing market may reach $241 billion by 2028. Digital twins, reflecting real-world counterparts, will greatly influence this growth. AI's applications range from quality control, like Audi's weld checks, to enhancing robotic operations. Moreover, AI can optimize supply chains and inventories, ensuring timely production and cost efficiency. AI's integration reshapes modern manufacturing, emphasizing predictive maintenance and efficient decision-making.

Reference: (You Can’t Spell Smart Manufacturing Without AI)

🗞️ RESOURCES

State of GPT: Microsoft Build: Highlights from 2023

Source: (Microsoft)

ChatGPT Internals

ChatGPT impresses with its ability to generate human-like text, thanks to its neural net architecture. Though its underlying processes are simple, the results are strikingly coherent and contextually responsive. While it’s not a brain replica, ChatGPT's operations offer insights into human language and cognition. It hints that the architecture of human thought might be more rule-based than previously considered, potentially redefining our understanding of human language and cognition.

Reference: (What Is ChatGPT Doing … and Why Does It Work?)

🗞️ WORK

Previously, automation primarily impacted less-educated workers in manufacturing. However, advancements in AI, particularly large language models are targeting jobs requiring cognitive skills and higher education, especially office roles. While these AI tools can assist in various tasks across multiple occupations, they currently supplement rather than replace human workers. However, some jobs, like mathematicians, face significant automation exposure. The technology can boost worker productivity, especially for junior employees, and might potentially reduce income inequality. Still, tasks requiring human touch, empathy, and nuanced understanding remain challenging for AI.

Reference: (In Reversal Because of A.I., Office Jobs Are Now More at Risk)

Top 10 Natural Language Processing Startups

1. OpenAI

2. Fractal Analytics

3. Gong.io

4. Verbit

5. SoundHound

6. Cohere

7. Grammarly

8. Hugging Face

9. Algolia

10. TaskUs

🗞️ AI TOOLS

🔧 Rainbow AI - Precise precipitation and rain forecasting.

🔧 GuestLab - Hours of guest research delivered in seconds. GuestLab instantly generates well-crafted intros, interesting topics, and insightful questions from your guest's LinkedIn profiles.

🔧 Homation - Easy way to create a smart home with a constructor. Homation will ask you 15 to 30 questions. Based on your answers, Homation will provide recommendations and a list of necessary devices for your Smart Home.

🔧 Laxis - Repurpose audio into engaging content with a single click. Laxis AI Meeting Assistant empowers revenue teams by automatically capturing and extracting key insights from every customer interaction with minimal effort.

🔧 AI office - Starter kit for building your own version of AI town.

Disclaimer: 1) The tool descriptions are from the company behind each tool/app. 2) Please read the site details thoroughly before using and/or acquiring any of the tools listed above. We have not tested these tools and we will not be liable for anything.

🗞️ CHARTS

 👀 Which Countries are Most Interested in Generative AI?

Source: ElectronicsHub

👀 In the ongoing competition between AI and humans, AI has made notable strides, surpassing human capabilities in various tasks such as handwriting and speech recognition, among others. This has been quantified using datasets like MNIST, Switchboard, and GLUE, which provide benchmarks to compare against human performance. Rapid advancements in computational power, data availability, and algorithms have propelled AI's growth. However, the technology still grapples with real-world applications despite exceeding benchmarks, and future challenges may lie in data scarcity for model training.

Reference/Source: Visual Capitalist (AI vs. Humans: Which Performs Certain Skills Better?)

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_{I'm not a newsletter expert so you might find my approach a tad different. In my daily dives into the world of AI, I handpick the latest gems, initially to support the AI projects that I’m working on. Realizing that these snippets might resonate with others, I thought, "Why not share this with my community and fellow AI enthusiasts?" I truly want this newsletter to be valuable to you so if there's anything on your mind—praises, critiques, or just a hello—please drop me a note. You can hit reply or shoot me a message directly at my email address: [email protected].}