AI News v41 2023 - Pioneering AI Developments of the Week

Welcome to AIAW News, a special segment of the Artificial Intelligence After Work (AIAW) Podcast, where we bring you the latest and most impactful developments in the world of AI. This week, we explore innovations from industry giants, revealing how AI is reshaping our digital experiences.

Full Episode here: https://open.spotify.com/episode/5Q453WiXFzIOyddrkZqDYb?si=1bdad24375b24806

In a landscape where tech giants like Microsoft, Google, and Adobe grapple with monetizing AI due to its high operational costs and customer dissatisfaction with pricing, various strategies and pricing models are being explored to make AI products more affordable and profitable. Meanwhile, OpenAI is projected to achieve a revenue of $1.3 billion in 2023, primarily from ChatGPT subscriptions, marking a significant leap from $28 million in 2022, despite observing a slowing growth rate. The company is also exploring fundraising opportunities at a valuation of $80-$90 billion.

In the realm of e-commerce, Swedish fintech startup Klarna has launched an AI image recognition tool for shopping and other features like shoppable videos and a cashback rewards program, expanding its features to be more shopping-centric and utilizing AI to enhance user experiences. This comes amidst Klarna navigating through market challenges and a valuation drop, innovating in a domain where tech giants have established a strong presence.

OpenAI, navigating through chip scarcity and high operational costs, is exploring the development of its own AI chips. This exploration includes considering acquisitions and collaborations and could potentially place OpenAI alongside tech giants like Google and Amazon in controlling chip design crucial to operations. On a national scale, Norway is allocating one billion NOK to AI research over the next five years, focusing on researching the societal impacts of technological development, fostering knowledge about new digital technologies, and spurring innovation in various sectors.

Lastly, SMIC, China's top chip maker, has achieved a breakthrough in utilizing the 7-nm process for semiconductors, a significant development achieved in two years and faster than global leaders like TSMC and Samsung. This comes amidst US sanctions and global chip shortages and is crucial for China’s semiconductor self-sufficiency, with potential global market impacts.


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