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AI adoption has doubled in the last 5 years + OpenAI projects $1 billion in revenue by 2024

This is a 3 Minutes read

Welcome to AI with Vibes, Dishing out good vibes like AI scaring everyone lol!

Lets get into it!

Highlights of today's Newsletter

Top 3 AI News: AI adoption has doubled in the last five years + OpenAI projects $1 billion in revenue by 2024

Coolest AI Tool of the day: Merlin

An AI Made this: AI mortal Kombat

Did you know??? : Google claimed to have created AI capable of designing computer chips much faster than humans.

Top 3 AI News

Business adoption of AI has doubled in the last five years ā€“ McKinsey

The annual survey on the state of AI from McKinsey's QuantumBlack artificial intelligence division shows business adoption of the technology has doubled in the last five years. Half of the survey's respondents said their business has adopted AI in at least one business area. That's up from 20% of respondents in 2017.

McKinsey also found that AI is being embedded into a wider range of business capabilities. The average user of AI in business is now using the technology in 3.8 applications, compared to 1.9 in 2018.

The use of AI in business covers a spectrum of applications, including process automation, digital twins, and facial recognition.

ChatGPT owner OpenAI projects $1 billion in revenue by 2024

In OpenAI's recent pitch to investors, they expect to make $200 million in revenue next year and $1 billion by 2024. Currently, OpenAI charges developers licensing its technology about a penny or a little more to generate 20,000 words of text, and about 2 cents to create an image from a written prompt, according to its website.

So if the target is to make a billion by 2024, OpenAI will have to generate 100,000,000,000 words, obviously they charge 2 cents per image so it might be a little less works but still a massive number either ways.

With the moves OpenAI are making it looks like they are looking at developing a platform for other AI products to be built upon over building the usage infrastructure too, going the B2B route uhn? Noiceee!

This then brings us back to samā€™s old tweet where he said ā€œwe will have to monetize it somehow at some point; the compute costs are eye-wateringā€

New and Improved Embedding Model for OpenAI

This one is EXTREMELY technical, I know the promise of this newsletter is to not get too technical but bare with us, weā€™ll try to make this at bare minimum understandable for anyone!

In caveman terms, the new and improved embedding model is keyword search on AI-created steroids!

The new model, text-embedding-ada-002 (donā€™t get thrown off by the computer generated name lol), replaces five separate models for text search, text similarity, and code search, and outperforms our previous most capable model, Davinci, at most tasks, while being priced 99.8% lower.

For the sake of this issue weā€™ll call text-embedding-ada-002, Ada.

Ada is better than the old embedding models when it comes to searching through text, searching through code and checking for sentence similarities, and still gets comparable performance on text classification (not better but at least around the same level as the old one)

Ada now has Longer context. The context length of the new model is increased by a factor of four, from 2048 to 8192, making it more convenient to work with long documents.

Basically can hold the context of a document or conversation longer than the old model.

Ada has a Smaller embedding size, this is a good thing size doesnā€™t matter here.

Ada is Cheaper, I mean 99.8% cheaper!

Overall, the new embedding model is a much more powerful tool for natural language processing and code tasks.

Hope I did a good job breaking it down šŸ™‚

Coolest AI Tool of the day

Our AI tool of the day is Drumroll please: Merlin

Use ChatGPT ANYWHERE on the internet!

Merlin brings you knowledge of the entire internet at your tips for free. It gives you the power of OpenAIā€™s ChatGPT on all your favorite sites, for example, google searches, Gmail, Google sheets, and everywhere else you search or write online.

What Demo Video Here:

An AI Made this

made what??? what did an AI make?? this section of the newsletter is dedicated to showing off really cool things an AI did. So for example a video made entirely by AI or an image or even just an AI answering a question very very well.

I turned various characters into Mortal Kombat characters using Midjourney AI

Link to the post:

There are 20 images in the Reddit post but weā€™ll drop 3 samples for you šŸ˜„

Did you Know???

Did you know you are a chad for reading this newsletter and you should subscribe if you havenā€™t yet šŸ™‚, so there you have it that is the end of this section, over to the next

Obviously just kidding, but fr fr you should subscribe šŸ˜„, now what is the Did you know for the day???

Did you know that Google claimed to have created AI capable of designing computer chips much faster than humans? The AI takes less than 6 hours to design the chips, whereas human counterparts take months. This is why people are concerned about AI taking over human jobs.

So there you have it! The AI With Vibes newsletter. Hope you enjoyed it, any form of feedback is valuable!

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