This Week's Top AI & Tech News and Trends

Hello AI Citizens,

This week in The AI Citizen:

• Dawn of the Silicon Valley Superbaby

• AI Boom or Bust? Wall Street Questions Big Tech's Billion-Dollar Bet

• Mini but Mighty: OpenAI Unleashes Cost-Effective GPT-4o Mini

• Meta's Llama 3.1: The Game-Changing AI Model Set to Surpass ChatGPT

• Google DeepMind Unveils AI Systems Capable of Solving Advanced Math Problems

• PsiQuantum Aims to Build Nation's Most Powerful Quantum Computer in Chicago

• SearchGPT: OpenAI's Bold Move to Challenge Google's Dominance

Also, check out this week’s top AI tools, AI 2071 episode, featured programs, and more!

Let's dive in!

This Week's Top AI & Tech News and Trends
(Through July 28, 2024)

Dawn of the Silicon Valley Superbaby

Venture capitalist Jack Abraham, concerned about passing on a BRCA-1 gene mutation linked to ovarian cancer, insisted on in vitro fertilization (IVF) for future children with his wife, Gabriella Massamillo. To ensure healthier offspring, they turned to Noor Siddiqui's genetic testing startup, Orchid, which boasts investors like Coinbase’s Brian Armstrong and 23andMe’s Anne Wojcicki. For $2,500 per embryo, Orchid screens for monogenic disorders and complex polygenic factors, providing comprehensive whole-genome embryo reports to prospective parents. Source: The Information

AI Boom or Bust? Wall Street Questions Big Tech's Billion-Dollar Bet

Despite massive investments in AI by Big Tech and venture capital firms, Wall Street analysts are increasingly skeptical about a potential financial bubble. Google, spending $12 billion quarterly on AI, faces questions about ROI, with Goldman Sachs and Barclays warning about unsustainable spending. Despite AI driving stock surges for companies like Nvidia, analysts point to limited revenue-generating successes such as OpenAI's ChatGPT. As smaller startups struggle, industry leaders argue that AI's transformative potential justifies the high costs, but caution against unrealistic short-term expectations. Source: The Washington Post

Mini but Mighty: OpenAI Unleashes Cost-Effective GPT-4o Mini

OpenAI has launched GPT-4o mini, a compact and affordable version of its multimodal flagship model. Despite its smaller size, it outperforms similar models from Google and Anthropic while offering lower API access costs. GPT-4o mini handles text and image inputs and will soon support video and audio. With a context window of 128,000 tokens and an output capacity of up to 16,400 tokens, it sets a new standard for efficiency and affordability. Priced at $0.15/$0.60 per million input/output tokens, it's significantly cheaper than GPT-4o and more cost-effective than GPT-3.5 Turbo. This release marks a trend toward smaller, more accessible AI models that maintain high performance and lower costs. Source: OpenAI

Meta's Llama 3.1: The Game-Changing AI Model Set to Surpass ChatGPT

Meta has released Llama 3.1, the largest and most advanced open-source AI model to date, claiming it outperforms rivals like GPT-4o and Anthropic’s Claude 3.5 Sonnet. CEO Mark Zuckerberg predicts Meta’s AI assistant will surpass ChatGPT in usage by year-end. Llama 3.1, with 405 billion parameters, is being integrated across Meta's platforms, including WhatsApp, Instagram, and Facebook, and features new capabilities like image generation and advanced query handling. Despite the high development costs, Meta is betting on open-source AI to drive future innovations, much like the Linux operating system. Source: The Verge

Google DeepMind Unveils AI Systems Capable of Solving Advanced Math Problems

AI models have traditionally excelled at generating text but faltered when it comes to solving complex math problems requiring logical reasoning. This limitation might be nearing its end. Google DeepMind has announced the training of two specialized AI systems designed to tackle advanced math problems through enhanced reasoning capabilities. Source: MIT Technology Review

Startup Aims to Build Nation's Most Powerful Quantum Computer in Chicago

PsiQuantum is taking a bold and unique approach to quantum computing. Utilizing 'silicon photonics' to manipulate individual light particles, the company aims to bypass incremental advancements and instead deliver a fully functional, fault-tolerant quantum computer. This ambitious project is expected to be operational by late 2027, significantly ahead of other industry projections. Source: Fast Company

SearchGPT: OpenAI's Bold Move to Challenge Google's Dominance

After months of speculation, OpenAI has unveiled SearchGPT, a prototype search engine poised to rival Google's stronghold on the search market. Leveraging generative AI, SearchGPT promises quicker, more conversational search results, integrating web data and information from partner publishers. Although still in early access, SearchGPT aims to correct AI's known reliability issues by using a retrieval augmented generation (RAG) approach to minimize inaccuracies. As OpenAI seeks new revenue streams to offset its high operational costs, SearchGPT could be a key player in competing against Google’s AI advancements. Source: Wired, Open AI

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