Is AI Overhyped?

☕️ Greetings! It's Monday, October 9th. Welcome back to my daily dive into the AI landscape.

♨️ Charlie Munger, vice chairman of Berkshire Hathaway, remains skeptical about the surging interest in Artificial Intelligence (AI) on Wall Street, despite its longstanding existence since the 1950s. He acknowledges AI's importance but criticizes the overhype surrounding it. Munger's skepticism extends to cryptocurrencies, criticizing them harshly and labeling them as poor investments, reflecting a shared sentiment with Warren Buffet and JPMorgan's Jamie Dimon. Amidst the 'Crypto Winter' of 2022, Munger's disdain for crypto assets and cautious stance on AI presents a contrarian perspective to the prevailing tech optimism.

Reference: (AI is getting ‘more hype than it deserves,’ Warren Buffett’s right-hand man Charlie Munger says)

🗞️ Today’s Highlights:

• LATEST NEWS & TRENDS — Generative AI won’t give you insights unless you use these 3 techniques.

• INDUSTRY | FUNCTION — AI In Music Industry: Key Takeaways From Innovation Waves Webinar.

• RESOURCES — Fifteen mostly free Generative AI courses in October 2023.

• WORK — 20 Job Roles That Could Be Transformed (Or Created) By Generative AI.

• AI TOOLS — Talk with Joy whenever you want; she will listen and help you change your negative and anxious thoughts.

🗞️ LATEST NEWS & TRENDS

1️⃣ AI's got some tricks up its sleeve, but don't expect it to spill the tea on consumer insights just yet. While it can churn out obvious observations like a pro, finding those golden "aha moments" remains a human specialty. Why? An insight is more than data points; it's a fresh perspective that brings things together in a novel way. Experts weigh in, saying AI still has homework to do in judgment and evaluation. If you're up for a treasure hunt for real insights, contradictory culture norms, overlooked data corners, and persistent "why" questions are your best tools. 

Reference: (Generative AI won’t give you insights unless you use these 3 techniques)

2️⃣ In a nutshell, a Harris Poll survey reveals a generational and gender divide in trusting AI. While men and younger folks (Gen Z, millennials) are generally more AI-optimistic, women and older gens (Gen X, Boomers) are skeptical. Trust in AI has actually dipped across the board since last year, especially concerning its use in government and healthcare. Privacy and job loss are key worries, along with AI's potential for misuse. The survey suggests that work on AI assurance and regulation is essential to regain public trust.

Reference: (With AI, there’s a trust gap based on gender, age)

3️⃣ The healthcare industry in the U.S. is a $4T beast bogged down by labor-intensive, costly admin processes. Generative AI is stepping up to streamline these issues, particularly in back-office tasks and staff workflows. Traditional obstacles like slim margins and slow-moving giants have made this sector hard for newcomers. But, genAI offers immediate value and an innovative edge. From medical scribing and patient engagement to complex back-office chores like coding and billing, AI is a game-changer. Startups are taking note, and a battle for disruption is brewing.

Reference: (Bringing Generative AI to Healthcare)

4️⃣ Researchers at Toyota Research Institute have leveled up car design with AI. Their new technique integrates hard engineering facts right into the generative AI design process. No more juggling between what looks cool and what's actually possible. Now designers can feed in their initial sketches and crucial metrics like aerodynamic drag, getting a more refined design in fewer iterations. It's like having your cake, customizing it, and eating it too—without worrying about the engineering "calories."

Reference: (Toyota Researchers Steer Generative AI to Aid Engineering)

5️⃣ Gen AI is a big deal in the boardroom! A recent Gartner poll shows that 55% of organizations have bumped up their investments in this game-changer. Executives are pretty jazzed about the upside, with 78% believing the rewards beat the risks. It's not just for tech nerds either; this AI magic is spreading across business areas from software development to customer service. The old 'wait and see' strategy? That’s yesterday’s news. Companies are aiming for more than just cost cuts; they're looking at big wins like growth and customer experience.

Reference/Source: Gartner (Gartner Poll Finds 55% of Organizations are in Piloting or Production Mode with Generative AI)

🗞️ INDUSTRY | FUNCTION

Generative AI is shaking up the music industry, offering new avenues for both artists and listeners. This tech is not just for curating personalized playlists anymore—it's sparking creativity, helping musicians automate tedious processes, and potentially decentralizing the market. From generating multilingual podcasts to tackling copyright issues, genAI is becoming a game-changer. Startups are hopping on this wave, while experts predict a more personalized, audience-focused future for the industry. It's a thrilling time for both creators and consumers in the musical landscape.

Reference: (AI In Music Industry: Key Takeaways From Innovation Waves Webinar)

🗞️ RESOURCES

Fifteen mostly free Generative AI courses in October 2023:

1) Learn Basics About AI

2) Microsoft Azure AI Fundamentals: Get Started with AI

3) Midjourney and ChatGPT: Unleash AI for Unique Image Generation

4) Midjourney Guide: How to Generate AI Art in Seconds

5) Prompt Engineering+: Master Speaking To AI

6) SEO Fundamentals: Post AI and ChatGPT World

7) Ultimate Guide to ChatGPT: AI for Everyday Life

8) Unleash your Creativity with Stable Diffusion AI

9) ChatGPT SEO Mastery: How to Rank with AI SEO Content

10) ChatGPT: The Personalised Blogger App

11) Create Faceless YouTube Videos Using Free AI Tools Only

12) Generative AI: ChatGPT and 25 Game-Changing AI Applications

13) Google BARD and ChatGPT AI for Increased Productivity

14) Introduction to Artificial Intelligence

15) Kickstart Artificial Intelligence

🗞️ WORK

The debut of ChatGPT has sparked transformative waves across various sectors such as media, tech, and education. As professionals begin to intertwine generative AI within their daily tasks, a ripple effect is anticipated across numerous job roles. Here's a glimpse into the evolving landscape:

1. Content Curator: Shaping and fine-tuning AI-generated content for tailored audience engagement.

2. Chief Marketing Officer: Harnessing AI for expedited content creation and personalized marketing ventures.

3. Security Analyst: Utilizing AI’s pattern discernment for a shift from reactive to proactive security measures.

4. VP of Engineering: Navigating the AI learning curve to amplify engineering output.

5. Video Game Artist: Leveraging generative AI as a tool for next-gen creative expressions.

6. AI Compliance Officer: Steering the helm of responsible AI usage.

7. AI Ethicist: Addressing the intertwined realms of AI, ethics, and regulatory compliance.

8. Data Governance Specialist: Ensuring precise model-data access to foster enterprise trust in generative AI.

9. Marketer; Market Researcher: Employing AI for swift draft creations and market analysis.

10. Prompt Engineer: Mastering the art of optimizing AI outputs through nuanced requests.

11. Software Developer: Accelerating coding endeavors and blurring the coder-non-coder divide with AI assistance.

12. HR Professional: Shifting focus towards nuanced human-centric tasks with AI handling document management.

13. Customer Support Agent: Allocating routine queries to AI, paving the way for enhanced empathy-driven interactions.

14. Data Scientist: Channeling AI for mundane tasks, thus freeing up time for inventive data explorations.

15. AI Storyteller: Melding creativity with AI expertise to craft compelling narratives.

16. CIO: Orchestrating generative AI projects to ensure seamless enterprise integration.

17. Communicator: Enhancing clarity in global communications with AI-aided writing refinement.

18. Cloud Practitioner: Automating basic coding tasks and optimizing cloud infrastructure through generative AI.

19. Sales Rep: Employing AI to glean actionable insights from customer interactions for informed sales strategies.

20. Urban Planner: Utilizing AI to envision data-driven, resilient urban ecosystems.

These role evolutions highlight the potential and multifaceted impact of generative AI in the professional sphere.

Resource: (20 Job Roles That Could Be Transformed (Or Created) By Generative AI)

🗞️ AI TOOLS

🧰 MindWell AI: Talk with Joy whenever you want; she will listen and help you change your negative and anxious thoughts

🧰 PodPulse AI: Podcast notes and takeaways for super curious minds.

🧰 EggHeads AI: Empower your teams with easy and engaging, AI-powered chat-based learning. Foster continuous learning and meaningful change, all without new apps.

🧰 BaseBoard AI: Create stunning visualizations from your data with ease

🧰 LLMStack AI: Open-source platform to build AI apps, chatbots, and agents with your data

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.

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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].}