Podcast Summary
AI's Impact on Wearables and Investing: Two AI wearables were launched, a competition for large language models was initiated, and JPMorgan Chase introduced an AI investment tool using OpenAI's GPT 4 model, potentially revolutionizing thematic investing.
AI is making its way into new and innovative technologies, such as wearables and investment tools. Two high-profile AI wearables have recently been released, but their effectiveness and widespread adoption remain to be seen. In the world of AI news, a new competition offering a $100,000 prize pool has been initiated to evaluate large language models and advance their capabilities. JPMorgan Chase has also introduced a new investment tool, Index GPT, which utilizes OpenAI's GPT 4 model to generate thematic investment baskets by scanning news articles for relevant keywords. This tool could potentially revolutionize thematic investing and outperform traditional methods. Additionally, there are rumors that OpenAI is developing a new search engine to compete with Google. These developments showcase the growing influence and applications of AI in various industries. Stay informed about the latest AI news by subscribing to the Everyday AI newsletter at everydayai.com.
OpenAI planning to launch search engine to compete with Google: OpenAI, led by CEO Sam Altman, is reportedly developing a search engine to challenge Google. Motivated by the growing use of chatbots and Microsoft's investment, they aim to integrate large language models for improved search results.
OpenAI, the AI research lab, is reportedly planning to launch a search engine to compete with Google, according to rumors. This comes as Google is scheduled to hold its annual developer conference on May 14th, and OpenAI may be motivated to enter the search market due to the growing use of chatbots like ChatGPT as search engines. OpenAI's CEO, Sam Altman, has expressed interest in cracking the code on integrating large language models into search. Microsoft's investment in OpenAI was also influenced by its concerns about Google's advanced AI capabilities, particularly in areas like email autocomplete. In the realm of wearable tech, there are several new AI devices emerging, including the humane AI pin, Rabbit r one, and Meta AI Ray Bans. These devices offer unique features and functionalities, but their prices remain to be seen. Overall, the intersection of AI and search engines, as well as the rise of AI wearables, are key areas to watch in the rapidly evolving tech landscape.
Wearable devices with computer vision and companion apps for daily convenience and productivity: Wearables like Humane AI pin, Rabbit r one, and Meta Ray Bans offer computer vision and companion apps for daily convenience and productivity, allowing users to interact with things, speak to them as a smart assistant, and record/transcribe conversations.
There are various wearable devices available in the market, each offering unique features and functionalities. The most popular ones include the Humane AI pin, Rabbit r one, and Meta Ray Bans, which all have the capability of computer vision. On the other hand, devices like the Limitless pendant and others don't have a camera but can transcribe conversations and act as a second brain. These devices have companion apps that record and transcribe conversations all day, providing the convenience and accuracy of a large language model wherever you go. The first three devices can also perform actions on your behalf, while some pendant-type devices have this capability as well. Essentially, these wearables can see and interact with things, you can speak to them like a smart assistant, and some can record and transcribe your conversations. These devices provide a running collection of your day that you can talk to, making your life more convenient and productive.
AI Wearables: Excitement and Caution: Opinions on AI wearables vary, with some eager to adopt computer vision-enabled devices and others preferring to wait for improved versions. Ultimately, the decision depends on individual needs and the specific problem each device aims to solve.
While there is excitement within the AI and technology community about AI-powered devices, opinions vary greatly regarding adoption, especially when it comes to wearables. Some, like Tara, are eagerly awaiting new technology like glasses or goggles, while others, like Harold, prefer to wait for second versions with improved features. Jordan shares his skepticism towards the Apple Vision Pro, citing battery life concerns and the product's lack of a clear problem to solve. The discussion also highlights that these new wearables can be categorized based on their computer vision capabilities. Those with computer vision, such as Humane Pins, Rabbit Glasses, and Meta Ray-Bans, offer more potential benefits due to their ability to process visual information. However, those without computer vision, like pendants, still provide voice recognition and large language model connections. Ultimately, the decision to invest in these new AI wearables depends on individual needs and the specific problem each device aims to solve.
Doubts and Criticism Surround New Smart Devices: The market for new smart devices like Humane AI Pin and Meta Ray Bans faces skepticism due to privacy concerns and limited functionality improvements over existing technology.
The current market of smart devices and wearables, including smart glasses and AI assistants, is facing skepticism and mixed reviews. The speaker expresses doubts about the necessity of investing in an additional device like the Humane AI Pin or the Meta Ray Bans, as most functionalities can already be accessed through a smartphone. The speaker also mentions privacy concerns with the Ray Bans, as they have noticeable cameras. The public reception to these new devices has been largely negative, with early reviews criticizing them as half-baked products that don't offer significant improvements over existing technology. The speaker concludes that these devices are still searching for a clear problem to solve.
Market saturation and confusion from similar AI products: Despite the hype and investment, it's crucial to evaluate the uniqueness and depth of an AI product before investing or adopting it, as the market is saturated with similar offerings leading to confusion and disappointment.
The hype around AI and large language models, such as ChatGPT, has led to a significant influx of investment and market saturation, resulting in numerous companies offering similar products with little differentiation. This was evident around the launch of ChatGPT around early 2023, where even with a decent pitch deck or a working product, companies could raise millions of dollars due to the lack of VC knowledge in the field. Many of these companies were essentially "wrapper" businesses, using established technology like OpenAI's API and adding custom UI/UX and pre-programmed prompts. The market was flooded with such businesses, leading to confusion and disappointment for consumers. The early reviews of AI gadgets and wearables often described them as underwhelming, despite the substantial investment and hype. It's essential to consider the depth and uniqueness of a company's offering before investing or adopting their AI product.
Are new AI wearables truly innovative?: While new AI wearables may offer exciting features, it's crucial to evaluate if they provide unique value and solve significant problems that existing technology cannot.
While there is excitement around new AI wearables and their potential capabilities, it's important to question if they are truly solving unique problems that existing technology cannot. The hype around these devices often comes from name recognition and marketing tactics, rather than groundbreaking innovation. Many of the functions offered by these wearables, such as computer vision, large language models, and even transcribing conversations, are already possible with current devices and technology. The key is to identify specific problems that these wearables can solve more effectively than existing technology. As history has shown, technology advances that provide unique value and solve significant problems are the ones that endure.
Creating new AI hardware vs optimizing existing devices: Focus on optimizing existing devices like smartphones and smartwatches instead of creating new AI hardware to avoid potential challenges and high competition.
The hype around AI and generative language models is leading many to overlook the challenges and limitations of creating new hardware devices. The combination of a renowned hardware designer, Johnny Ivy, and AI expert, Sam Altman, is reportedly raising a billion dollars to create an AI hardware company, potentially posing a significant threat to smaller competitors. However, it's important to remember that the focus should be on optimizing existing devices, such as smartphones and smartwatches, rather than creating new ones. The history of technology shows us that innovative products, like Google Glass, can be ahead of their time and face challenges in gaining mass adoption. Instead of chasing after the latest shiny object, it's crucial to consider the unique value and problems that new technologies aim to solve.
Is the hype around new AI-powered devices and wearables premature?: Despite the excitement around new AI technologies, smartphones and cars may still be significant parts of our lives and their replacements are not yet proven feasible. Excessive investment in these new technologies should be approached with caution.
While there is excitement around new AI-powered devices and wearables, it was argued during this discussion that we may not actually need them at this time. The speakers suggested that smartphones, which have been a crucial technological development, are still a significant part of our lives and may not be easily replaced. The same argument was made about cars and their potential replacements, such as robo taxis and drones. The speakers emphasized that while there are issues with current technologies, the feasibility and logic of their replacements are not yet proven. Furthermore, the speakers criticized the excessive investment in these new technologies by venture capitalists and private equity firms, arguing that the money would be better spent elsewhere. The discussion concluded with a call for caution and a reminder that not every new technology is a game-changer.
