Inside Microsoft’s billion-dollar investment in OpenAI and the unconventional “capped-profit” entity structure.
Microsoft’s $13 Billion Bet On OpenAI Carries Huge Potential Along With Plenty Of Uncertainty
Microsoft’s $1bn investment in OpenAI in 2019 has paid off, with the firm’s cumulative investment in OpenAI now reported to have swollen to $13bn and the start-up’s valuation hitting roughly $29bn. No private company is hotter than OpenAI, with generative AI technologies, focused on producing automated text, visual, and audio responses, attracting mega-valuations. Microsoft’s deal is unique, making the company not only a significant investor but also the exclusive provider of computing power for OpenAI’s research, products and programming interfaces for developers. However, the financial implications are anything but straightforward, given the unconventional “capped-profit” entity structure of OpenAI, which restricts first investors from making more than 100 times their money, with lower returns for later investors such as Microsoft.
Microsoft Bing Chatbot To Get Ads: A New Era Of Conversational Commerce
Microsoft is considering integrating ads within the chat experience of its AI-powered chatbot, Bing Chat. Ads will be displayed in a native format that blends seamlessly with the chatbot experience, providing businesses with a new way to reach their target audience and drive conversions. This development is likely to have significant implications for the future of conversational commerce as chatbots become more sophisticated and widespread, offering businesses a promising solution to stand out and reach their target audience while providing consumers with a personalized and relevant experience. The move represents a new era of conversational commerce and innovation in the conversational AI space.
Expedia CEO Looks to AI to ‘Rebalance’ Dependence on Google
Expedia CEO Peter Kern hopes that generative AI companies and emerging technologies will lead to reduced dependence on Google for travel advertising. Expedia has been actively investing in generative AI tech, including the debut of an OpenAI ChatGPT-powered chatbot on their mobile app. While emerging players have previously attempted to take down Google in the travel industry, disappointment has been common. However, the rapid emergence of generative AI could potentially be more far-reaching and platform-wrenching than previous efforts. Bing’s app now enables voice-based search powered by OpenAI, but it is still too early to dismiss Google’s efforts, as they have enormous tech resources to compete.
Google Search Quality Raters Shift Focus to Chatbot Response Rating
Google’s contract workers have been instructed to prioritize rating chatbot prompt responses over rating the quality of search results since January, according to Insider. This move suggests that Google is investing heavily in Bard and other AI initiatives. However, raters are struggling to verify the chatbot’s answers due to a lack of time and expertise on technical or complex topics. Google has always employed human raters to rate the quality of pages, websites, and search results, but this shift could potentially impact the quality of search results. Google also asked its employees to test Bard and provide feedback in February.
ChatGPT Retains Its Massive Lead In The World Of AI Chat As Stats Display 56% Growth
ChatGPT, the breakthrough AI tool by OpenAI, continues to dominate the search industry, surpassing Bing Search and DuckDuckGo with a growth of 56% since February. The AI tool attracts around 1.6 billion users globally, with a nearly one billion growth from February to March. Although it lags behind Bing, DuckDuckGo, and Google in America, ChatGPT is considered the main leader in terms of dominant AI chat services on offer worldwide. Bard chatbot has entered beta phase for Google, capturing the attention of nearly 31 million users who visit the Google website.
Interview With OpenAI’s Greg Brockman: GPT-4 Isn’t Perfect, But Neither Are You
OpenAI’s GPT-4 model has been released, and although it is improved from its predecessor GPT-3, it still has “hallucination” issues that lead to basic reasoning errors. However, GPT-4 is stronger in areas such as calculus and law, where it has gone from being poor to being quite good relative to humans. GPT-4 is also the first of OpenAI’s models to understand multimodal information and images, with impressive image recognition and description capabilities. There are still concerns over how GPT-4’s text-generation capabilities will be used, and OpenAI will proceed with caution as it assesses potential policy issues and ethical considerations around its release.
Is ChatGPT The Future Of Recruiting?
OpenAI’s ChatGPT, an artificial intelligence chatbot, is being used in recruitment to automate mundane tasks, allowing recruiters to focus on tasks that can’t be automated. A recent study from the University of Pennsylvania and OpenAI found that LLMs could impact up to 80% of the U.S. workforce’s tasks, with 15% of tasks being done “significantly faster” with LLMs. ChatGPT can also be used to screen candidates and train new hires, making the process more efficient. However, it’s important for recruiters to use ChatGPT as a tool and not a replacement for the recruitment process. Companies that invest in personalized recruitment will stand out from those that don’t.
Experts Issue Alarm As New Studies Prove ChatGPT And Google’s Bard Can Easily Led Astray
Experts are warning about the potential drawbacks of generative AI as recent studies reveal that chatbots like ChatGPT and Google’s Bard can be easily led astray and produce misinformation-filled data. NewsGuard conducted a test with Bard, requesting it to produce content surrounding nearly 100 fake details, and it produced around 78 fake narratives, including climate change theories and vaccine misinformation. Similarly, ChatGPT produced nearly 80 out of those 100 false narratives. While OpenAI and Google have acknowledged the margin of error in their products, experts are calling for action to be taken before it’s too late.