An update on AI industry

The AI industry is advancing rapidly with significant developments across several areas. Generative AI models like GPT-4 are becoming more sophisticated, enhancing capabilities in natural language processing, image creation, and code generation. There's also a heightened focus on AI ethics and regulation, with governments and organizations working to address issues such as bias, privacy, and accountability. In healthcare, AI's role is expanding with innovations in diagnostic tools, personalized treatment, and drug discovery. Additionally, AI-driven automation is transforming industries by improving efficiency and reducing costs. Key players are also exploring AI's potential in emerging fields like climate science and creative arts, signaling continued growth and diversification in applications.

Meta Launches Custom AI Bot Creation Platform in the US

Meta is advancing its AI initiative with the launch of its new AI Studio platform in the U.S. This platform will allow users to create personalized AI bots using Meta’s technology. Meta’s new AI character creation process offers inspiration to help you get started, or you can design your character from scratch. You can build a profile for your character using Meta’s templates or by crafting your own descriptions.

These bots are designed to handle common fan inquiries and story responses on behalf of creators, saving them time and effort. They can also offer advice in the creator’s style and provide links to other content. According to Meta, creators can tailor the AI's responses based on their Instagram content, personal details, and preferred topics to avoid.

Influencers Can Create AI Versions of Themselves on Instagram

Meta is bringing its AI Studio to the U.S., allowing creators and Instagram users to build their own AI characters.

With the tool, users with the creator account on Instagram can create a customized AI bot “as an extension of themselves” that answers commonly asked questions, including links to their clothing items show in posts and to past videos and facts about themselves. Creators can also customize the AI with topics to avoid. The responses to the user are labeled as being from creator AI.

Users with personal accounts can also create more specialized AI characters for tasks such as providing cooking tips, assisting with Instagram captions, and generating memes. These characters can be created either on Instagram or within Meta’s AI Studio and can be used across Instagram, Messenger, and WhatsApp.

Microsoft stock drops over 6% after AI disappointment

On Tuesday, Microsoft (MSFT) released its fiscal fourth-quarter earnings after the market closed, surpassing both earnings and revenue expectations, but falling short on cloud revenue projections. This resulted in a decline in the company's share price following the announcement.
For the quarter, Microsoft reported earnings per share (EPS) of $2.95 and revenue of $64.7 billion. Analysts had forecast EPS of $2.94 and revenue of $64.5 billion, according to Bloomberg data. In the same period last year, Microsoft had EPS of $2.69 and revenue of $56.2 billion.

Microsoft's disappointing AI performance led to a decline in shares of other AI-focused companies, such as Meta, which fell more than 3% in after-hours trading.

This development comes on the heels of Alphabet (GOOG, GOOGL), Google's parent company, announcing its earnings last week. Alphabet reported an increase in cloud revenue, partly driven by interest in AI products. However, Google did not provide specific figures on how AI has impacted its cloud business, prompting analysts like UBS’s Stephen Ju to suggest that the benefits from AI investments might not be realized until early 2025 at the soonest.

The antithesis of the Olympics: Using AI to write a fan letter

In a 1986 interview on Fresh Air, Maurice Sendak recounted a touching story to Terry Gross about a young boy who sent him a card and drawing. Sendak responded with a drawing of his own, and the boy’s mother later wrote back to explain that her son loved Sendak’s reply so much that he ate it. To Sendak, this was the highest compliment. "He saw it, he loved it, he ate it," he chuckled.

This personal correspondence contrasts sharply with a recent fan letter featured in an AI advertisement that’s been widely discussed during the Olympics. The ad, promoting Google’s Gemini AI assistant, features a father narrating how his daughter, an avid runner and fan of Olympic hurdler Sydney McLaughlin-Levrone, is about to send a fan letter. The father, though confident in his own writing, seeks the perfect words for the letter with the help of the AI to ensure it’s just right.

Apple releases first preview of iPhone AI

On Monday, Apple unveiled the initial version of Apple Intelligence, a suite of artificial intelligence features designed to enhance Siri, automatically generate emails and images, and organize notifications.

The new software, part of the iOS 18.1 developer beta, is also available in corresponding updates for iPad and Mac. Currently, it is accessible for developers to test.

Users will need to join a waitlist through Apple’s settings app after updating to access the service, which handles more complex requests by connecting with Apple’s servers.

Apple Intelligence represents a significant effort for Apple. Investors are optimistic that the deep integration of AI with Apple’s operating system will drive a substantial increase in upgrades over the coming years, particularly given that the system will be compatible only with the iPhone 15 Pro, iPhone 15 Pro Max, and newer models.

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Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice.