📬 01 - What to Watch on AI for investors in 2023, Microsoft is in talks with OpenAI to invest more
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What to Watch on AI for investors in 2023
According to the latest report by Tortoise Intelligence, worldwide investment in AI companies has increased by 115% since 2020, marking the largest year-on-year growth in AI investment for at least two decades. Total AI investment reached $77.5 billion in 2021, a substantial increase from the previous record set last year of $36 billion.
So, It is important to know what to watch on AI in 2023, ten investors share the AI trends they think are worth watching.
Copilot for everything. AI is already streamlining illustration, writing, and coding. It may soon become an assistant for all knowledge workers. In the future, we may have versions of GitHub’s “Copilot” feature for lawyers, financial analysts, architects, and beyond.
Generative AI and life sciences. AI is revolutionizing the biotech industry and specifically in the area of life sciences, unlocking breakthroughs in protein structure prediction and drug molecule design. Companies using AI to develop new drugs faster and at lower cost are being heavily invested in.
Tracking value accrual. As AI startups often rely on publicly available models like GPT-3 or Codex, some question their defensibility. The fundamental question centers around value accrual. Will applications that leverage GPT-3 successfully capture value? Or will it accrue to the infrastructural layer?
Beyond words and images. GPT-3 and DALLE-2 have attracted deserved attention for their ability to automate text and image creation. The most impactful uses of AI may come from the life sciences, though. AI can be used to design better pharmaceuticals or run more efficient clinical trials.
Improving interfaces. Interactions with AI typically take the form of a basic text box in which a user enters a “prompt.” While simple to use, greater control may be needed to unlock the technology’s power. The challenge will be to enable this potential without introducing needless complexity. Applications will need smooth, creative interfaces to thrive.
Addressing the labor shortage. Skilled laborers are in short supply as society’s need increases. For example, while demand for skilled welders increases by 4% per year, supply declines by 7%. AI-powered robots may be part of the solution, automating welding, construction, and other manual tasks. Learn more
Microsoft is in talks with OpenAI to invest more
According to Bloomberg's report, Microsoft (MSFT) is in talks to invest up to $10 billion in ChatGPT developer OpenAI. The investment, which would also include other venture firms, would value OpenAI at $29 billion. Tech Giant has previously invested $1 billion in 2019 and has been working on adding ChatGPT to its search engine “Bing”.
ChatGPT has been a crazy topic on the internet since launching at the end of November, gathering its first million users in less than a week. Its imitation of human conversation sparked speculation about its potential to supplant professional writers and even threaten Google’s core search business.
Corner of Hot News
Sequoia Doubles Down On Seed Investing To Hunt For The Unicorns Unique To Downturns - Forbes
Microsoft is opening its Azure OpenAI service to all businesses - Azure
Healthcare staffing startup ShiftKey raises $300M - Mobihealthnews
Germany's BioNTech buys British AI startup InstaDeep - Reuters
Mad Street Den raises $30M in Series C as it establishes itself as a leader ushering in AI transformation for Large Enterprises - Cision
Peppy secures a $45M Series B to expand its B2B2C health services platform to the US - Mobihealthnews
AI platform Ferrum Health scooped up $6 million - Finmes
Twenty7tec buys Meet Parker - Finextra
PopID and Toshiba team on face payments - Finextra
Must or Should, We Do Recommend
📜Forecast: Biotech Will Get Up Close And Personal In 2023 With More Funding To The ‘Omics’ - Crunchbase
📚Algorithms to Live By: An exploration of how computer algorithms can be applied to our everyday lives to solve common decision-making problems and illuminate the workings of the human mind.
And that’s a wrap for now!
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