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OpenAI Unveils Game-Changing Upgrades for ChatGPT

This week, OpenAI unveiled a substantial enhancement to ChatGPT, enabling their GPT-3.5 and GPT-4 AI models to analyse images and respond to them within text conversations.

OpenAI also disclosed that their ChatGPT mobile app will soon incorporate speech synthesis capabilities, facilitating fully verbal interactions with the AI assistant when combined with its existing speech recognition features. OpenAI intends to roll out these features to their Plus and Enterprise subscribers within the next two weeks. 

The new image recognition capability in ChatGPT allows users to upload one or more images during a conversation, utilising either the GPT-3.5 or GPT-4 models. OpenAI claims that this feature has diverse practical applications, from assisting users in deciding what to cook by analysing pictures of their fridge and pantry contents to helping troubleshoot issues with malfunctioning grills. Users can also employ their device’s touch screen to highlight specific areas of the image for ChatGPT’s attention.

OpenAI has provided a promotional video on their website, illustrating a hypothetical interaction with ChatGPT. In this scenario, a user seeks guidance on adjusting a bicycle seat and provides photos, an instruction manual and an image of their toolbox. ChatGPT responds by offering step-by-step instructions on how to complete the task. It’s crucial to mention that this feature has not undergone independent real-world testing for its effectiveness.

Regarding the technical aspects, OpenAI has not divulged specific details about the inner workings of GPT-4 or its multimodal variant, GPT-4V. However, based on existing AI research, including that of OpenAI’s partner, Microsoft, multimodal AI models generally transform both text and images into a shared encoding space. This allows them to process various types of data using the same neural network. OpenAI may employ techniques such as CLIP to align image and text representations in the same latent space, enabling ChatGPT to make contextual inferences across text and images, although this remains speculative.

In terms of audio capabilities, ChatGPT’s new voice synthesis feature reportedly enables spoken interactions with the AI. OpenAI describes it as a “new text-to-speech model.” Once this feature is introduced, users can enable voice conversations in the app’s settings and choose from five synthetic voices with names like “Juniper,” “Sky,” “Cove,” “Ember” and “Breeze.” These voices have been crafted in collaboration with professional voice actors. OpenAI’s Whisper, an open-source speech recognition system, will continue to handle the transcription of user speech input.

OpenAI acknowledges several limitations in the expanded features of ChatGPT, including the potential for visual misidentifications and imperfect recognition of non-English languages. The company has conducted risk assessments and sought input from alpha testers, advising users to exercise caution, especially in high-stakes or specialized contexts.

In light of privacy concerns, OpenAI has implemented technical measures to restrict ChatGPT’s ability to analyze and make direct statements about individuals, recognizing that ChatGPT is not always accurate and that privacy should be respected.

While OpenAI promotes these new features as granting ChatGPT the ability to “see, hear, and speak,” there is ongoing debate about the anthropomorphism and potential exaggeration in the language used. Notably, some AI researchers caution against anthropomorphizing AI models.

Although ChatGPT and its associated AI models are unequivocally not human, these updates have the potential to significantly expand OpenAI’s computer assistant capabilities. However, their actual performance and effectiveness will need to be assessed. OpenAI plans to introduce these features gradually, allowing for ongoing improvements and risk mitigation while preparing for more advanced systems in the future. 

Early Bird Tickets Now on Sale for the 2023 AI Awards.

The fifth annual AI Awards takes place on Tuesday November 21st at the Gibson Hotel. This is an exciting opportunity to connect and network with over 200 AI and Data professionals across the island of Ireland and hear from some of the most exciting AI applications across industry and academia spanning 12 award categories.

Don’t miss the opportunity to get your discounted Early Bird tickets now! Head over to aiawards.ie/tickets or Eventbrite and enter the discount code EarlyBird_AIA to get your ticket for just €100. Limited tickets available; Original Price €239. 

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AI Startups in 2023: A Comprehensive Overview

2023 marked another significant milestone in the evolution of Artificial Intelligence. With exponential growth in AI, Startups, established companies and government organizations are all harnessing their potential to address complex challenges and drive innovation. 

In this article, we will provide a comprehensive overview of the current state of AI, highlighting its growth, impact, trends and spotlighting noteworthy startups leading the way.

Global AI Landscape

Number of AI Companies in 2023

As of July 2023, there are an estimated 57,933 AI companies operating worldwide. The United States leads the pack with approximately 14,700 companies, followed closely by China and the European Union.

Geographical Distribution

While Silicon Valley remains a prominent hub for AI innovation, other cities like Beijing, London, Berlin and Toronto are emerging as significant players in the global AI landscape, fostering a diverse ecosystem of AI-driven startups.

Business Adoption of AI

How AI Affects Businesses

Business leaders are displaying growing confidence in AI technologies. A survey reveals that 43% of executives planned to increase investments in AI and automation tools in 2023, with 31% considering AI crucial to their overall business strategy.

ROI and Productivity

Investments in AI technologies are yielding positive returns on investment, with businesses reporting an average increase in productivity of up to 20%. This demonstrates the tangible benefits AI brings to various industries.

Industry-Specific Growth

Healthcare

AI is reshaping the healthcare sector by assisting in diagnostics, drug discovery and patient care, ultimately making treatments more effective and affordable. The potential for AI to revolutionise healthcare is immense.

Transportation

Automotive companies are directing their efforts toward self-driving technologies, predictive maintenance and route optimisation to enhance the transportation sector. AI-driven solutions promise to redefine the way we move people and goods.

AI Technology Trends

What’s Hot in AI Right Now?

  1. Generative AI: Tech giants like Google and Microsoft are harnessing generative AI for intelligent threat detection, pushing the boundaries of cybersecurity.
  2. Reinforcement Learning: Emerging as a potent tool for optimising various industrial operations, reinforcement learning is driving efficiencies across industries.
  3. NLP (Natural Language Processing): Chatbots and automated customer service are becoming increasingly sophisticated, offering seamless interactions and support.
Is AI Worth Learning in 2023?

The demand for AI specialists continues to soar, accounting for an average of 18% of all positions across businesses. Learning AI technologies can significantly enhance one’s career prospects, positioning individuals to capitalize on the growing demand for AI expertise.

AI Impact in the Next 5 Years

By 2028, AI is predicted to transform education by providing personalised learning experiences, revolutionising industries like manufacturing through automation and influencing public policy decisions. The transformative potential of AI knows no bounds.

Top 15 Promising AI Startups

Here’s a glimpse of some of the most promising AI startups in 2023, offering innovative solutions across various sectors:

OpenAI: Advancing general-purpose AI models.

Frame AI: Providing AI-driven customer engagement solutions.

Jasper: Revolutionising content creation through automation.

Moveworks: Leveraging AI for IT operations.

Tome: Optimising logistics and supply chain management with AI.

Synthesia: Transforming video creation with AI.

Uizard: Empowering rapid prototyping through AI.

Accubits: Innovating in blockchain and AI solutions.

Soundful: Harnessing AI for audio analytics.

GoodVision: Enhancing surveillance systems with AI.

Writesonic: Enabling AI-powered copywriting.

Atomic AI: Delivering AI-driven marketing analytics.

MindsDB: Transforming database management with AI.

Shield AI: Offering AI solutions for security applications.

Eightfold: Revolutionising talent management with AI

Irish Startups and the AI Awards 2023

The AI Awards are currently underway, celebrating the application of AI on the island of Ireland. Stay tuned as we announce the finalists, with the awards presentation scheduled for November 21, 2023, at the Gibson Hotel. 

Did you know?

AI Ireland offers tailored presentations catering to your industry’s needs, providing invaluable insights into the transformative power of AI technologies. Stay ahead of the curve and equip your organisation with the knowledge it needs to confidently embrace the future.

Book an AI Presentation Today

Don’t miss the opportunity to enlighten your team and stakeholders. Book a presentation today and explore how innovation is positively impacting your industry. Our speakers are seasoned professionals with substantial experience in various AI applications, ready to provide actionable insights.

AI Unleashed: Now Available for Preorder

If you’re an executive interested in how AI can benefit your organization, our upcoming publication “AI Unleased” is an essential read. It distills complex topics into digestible insights, equipping you with the tools to make informed decisions about adopting AI in your business. Contact us to pre-order your copy today to secure your advantage.

Stay informed, stay ahead, and let AI Ireland be your guide in the ever-evolving landscape of Artificial Intelligence.

Early Bird Tickets Now on Sale for the 2023 AI Awards.

The fifth annual AI Awards takes place on Tuesday November 21st at the Gibson Hotel. This is an exciting opportunity to connect and network with over 200 AI and Data professionals across the island of Ireland and hear from some of the most exciting AI applications across industry and academia spanning 12 award categories.

Don’t miss the opportunity to get your discounted Early Bird tickets now! Head over to aiawards.ie/tickets or Eventbrite and enter the discount code EarlyBird_AIA to get your ticket for just €100. Limited tickets available; Original Price €239. 

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Professional services

E112 Aditya Mohan, Senior Scientific Officer at the National Standards Authority of Ireland

Welcome to episode E112 of the AI Ireland podcast, the show that explores the applications and research of Data Science, Machine Learning and Artificial Intelligence on the island of Ireland.

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News

How AI is Revolutionising the Medtech Industry

The integration of Artificial Intelligence into the MedTech industry is revolutionising healthcare in unprecedented ways. From diagnostics to treatment plans, AI algorithms are enabling medical professionals to make more accurate and timely decisions. Here’s a closer look at how AI is making waves in various medical fields.

How is AI used in MedTech?

Companies like Paige and Pictor Labs are using Generative AI to enhance the quality of pathology slides, thereby improving the accuracy of diagnostics. These advancements are not just limited to diagnostics but extend to the overall quality of MedTech products and services.

What is the use of AI in the biomedical field?

AI is making significant contributions to biomedical science. For instance, it’s being used to improve movement-related issues stemming from birth defects, injuries or neurological and cardiovascular diseases. AI algorithms are also capable of predicting behaviour and nerve responses to stimuli.

What is the role of AI in the medical industry?

AI is assisting clinicians in taking a more comprehensive approach to disease management. It helps in better coordinating care plans and enables patients to manage and comply with their long-term treatment programs more effectively. AI is particularly useful in identifying individuals who may be at risk of an adverse episode due to chronic illness.

What are the advances in AI in medicine?

AI systems are accelerating drug discovery for neglected diseases, combating antibiotic resistance, and even contributing to the development of novel malaria vaccines. These applications are shedding light on genetic variations and gauging the impact of viruses like rotavirus on gastroenteritis.

What is the role of AI in medical imaging?

Researchers at Tulane University have found that AI can accurately detect and diagnose colorectal cancer by analysing tissue scans, sometimes outperforming pathologists. This promotes early intervention and could be a game-changer in medical imaging.

What are examples of AI in biomedical research?

NIBIB-funded researchers are using AI for early diagnosis of Alzheimer’s disease through the analysis of brain networks. Other applications include predicting blood glucose levels using wearable sensors and enhanced image analysis for improved colorectal cancer screening.

What is an example of AI in biomedical engineering?

AI-powered imaging analysis can detect early signs of diseases such as cancer, Alzheimer’s, and heart disease. This enables earlier intervention and has the potential to save lives.

What is an example of AI in medical imaging?

In radiology, AI applications provide estimates of the likelihood of complications based on imaging. For example, an AI system can conclude that a breast lesion has a 10% chance of being malignant, aiding in more accurate diagnoses.

In conclusion, by leveraging AI, the MedTech industry is not only improving the quality of healthcare but also making it more accessible. As AI continues to evolve, its applications in healthcare are expected to expand, offering both opportunities and challenges.

AI Talks

If you’re interested in learning more about how AI is transforming various industries, consider working with AI Ireland. We offer presentations tailored to your industry’s unique challenges and opportunities. To book a presentation, click here.

Also, don’t miss the chance to deepen your understanding of AI’s impact on business. Pre-order the book “AI Unleashed: Nativgating the AI revolution as a Business Executive” now to gain invaluable insights into leveraging AI for your organization.

Early Bird Tickets Now on Sale for the 2023 AI Awards.

The fifth annual AI Awards takes place on Tuesday November 21st at the Gibson Hotel. This is an exciting opportunity to connect and network with over 200 AI and Data professionals across the island of Ireland and hear from some of the most exciting AI applications across industry and academia spanning 12 award categories.

Don’t miss the opportunity to get your discounted Early Bird tickets now! Head over to aiawards.ie/tickets or Eventbrite and enter the discount code EarlyBird_AIA to get your ticket for just €100. Limited tickets available; Original Price €239. 

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AI in Finance: Transforming the Industry One Algorithm at a Time

The finance industry is undergoing a seismic shift, thanks to Artificial Intelligence. From automating mundane tasks to predicting market trends, AI is a critical tool reshaping the way that financial institutions operate. This article delves into real-life applications, challenges and the future of AI in finance, featuring case studies from leading companies in the sector.

How is AI used in the finance industry?

AI in finance serves multiple purposes, from personalising services and products to managing risk and fraud. For instance, JPMorgan Chase uses AI to analyse legal documents through its COiN program, automating operations and reducing costs.

What is the role of AI in the financial market?

AI algorithms, like those used by Goldman Sachs in its Marcus platform, can process vast amounts of data quickly and accurately. This enables financial institutions to manage risk better and create opportunities by analysing market trends and patterns.

What is an example of AI in finance?

Wealthfront, a robo-advisor, uses AI algorithms to manage investment portfolios. It combines classic portfolio theory and AI to offer personalised investment options based on clients’ financial positions.

How AI is changing the world of finance?

AI applications, such as the American Express fraud detection system, can analyse both financial and non-financial data more accurately and at a far greater speed than humans, enabling transparency and compliance.

Why AI is the future of finance?

AI-driven automation, like that seen in Credit Karma, can significantly reduce operational costs, making financial institutions more competitive and profitable.

Why AI is the future of financial services?

AI can provide faster and more accurate customer support 24/7. Bank of America’s chatbot, Erica, is an example of how AI is revolutionising customer service in the finance industry.

How AI will impact the accounting and finance industry?

AI is also transforming accounting departments. American Express’ Business Line of Credit (formerly Kabbage) uses machine learning to automate the underwriting process for small business loans, allowing professionals to focus on more strategic initiatives.

Will AI replace the finance industry?

AI will transform roles but it will not entirely replace human analysts. Robinhood employs AI to offer personalised trading advice, showcasing the unique strengths of both AI and human financial analysts.

How AI is transforming the banking sector?

Banks like Square are investing heavily in AI and predictive analytics to make better decisions and provide customised services. AI tools are used for risk assessment and payment processing routes.

What are the concerns about AI in finance?

Risks such as embedded bias and privacy concerns are inherent in AI technology. For example, Adyen uses machine learning to optimise payment processing but faces challenges related to data privacy.

What are the problems with AI in finance?

Biases in AI models can arise due to various factors. ZestAI employs machine learning algorithms to analyse non-traditional credit data, but it also has to be cautious about algorithmic fairness and biases.

How AI is expected to change the future of finance?

In the near future, AI will enable better stock and cryptocurrency trading. Companies will improve trading as algorithms are more likely to identify complex trading signals rarely noticed by humans.

What are the benefits of AI in finance?

AI offers several key benefits, including improved operations, reduced costs, enhanced fraud detection, automated regulatory compliance, reduced risk and faster decision-making.

Conclusion

AI in finance is about learning patterns, data and developments. In conclusion, AI significantly contributes to the finance industry and will continue to keep financial services updated and ready to face the market.

 

Take the Next Step with AI Ireland

If you’re interested in exploring how AI can revolutionise your industry, consider booking a speaker and presentation from AI Ireland. For a deep dive into AI applications across sectors, pre-order our upcoming book, “AI for Executives.”

Early Bird Tickets Now on Sale for the 2023 AI Awards.

The fifth annual AI Awards takes place on Tuesday November 21st at the Gibson Hotel. This is an exciting opportunity to connect and network with over 200 AI and Data professionals across the island of Ireland and hear from some of the most exciting AI applications across industry and academia spanning 12 award categories.

Don’t miss the opportunity to get your discounted Early Bird tickets now! Head over to aiawards.ie/tickets or Eventbrite and enter the discount code EarlyBird_AIA to get your ticket for just €100. Limited tickets available; Original Price €239. 

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How AI is Transforming the Retail Sector

Artificial Intelligence is revolutionising the retail industry in unprecedented ways. According to the World Economic Forum, AI can significantly boost retail operations, enhance customer satisfaction and optimise business processes. Moreover, AI services in the retail sector are predicted to increase from $5 billion to above $31 billion by 2028. This article aims to provide a comprehensive overview of the transformative role of AI in retail, including its benefits, challenges and future prospects.

The Multifaceted Benefits of AI in Retail

Automation and Efficiency

AI algorithms automate repetitive tasks, thereby increasing operational efficiency. For instance, AI can manage inventory levels, predict stock-outs and even automate the reordering process.

Case Study: Nike’s AI-Powered App

Nike has developed an app that provides hyper-accurate shoe-fitting recommendations by scanning your foot using a smartphone camera.

Enhancing the Customer Experience

AI-powered chatbots and virtual assistants are becoming increasingly common in online retail platforms. These tools can handle a range of customer service tasks, from answering frequently asked questions to providing personalised product recommendations.

Case Study: eBay ShopBot

eBay’s ShopBot serves as a personal shopping assistant, helping customers navigate through eBay’s extensive array of over a billion listings to discover the most attractive deals.

Loss Prevention and Security

AI can play a crucial role in loss prevention by using advanced algorithms to analyse patterns and flag unusual activities, such as potential shoplifting or fraudulent transactions. This proactive approach can significantly reduce losses and improve store security.

Sustainability and Supply Chain Optimization

AI can analyse vast amounts of data to optimize supply chain operations. It can predict demand for products, identify the most efficient routes for transportation, and even foresee potential disruptions due to weather or other external factors.

Challenges in Implementing AI in Retail

Impact on Employment

There are concerns about the impact of AI on jobs in the retail sector. One report for the UK civil service found that “significant net employment reductions are projected in wholesale and retail, finance and public administration areas in the short to medium term”. However, AI is more likely to change the role of cashiers rather than eliminate it. By automating tasks like inventory tracking, AI can free cashiers to focus on more complex tasks requiring human interaction.

Data Security

With the increasing use of AI, the security of customer data has become a paramount concern. Retailers must invest in robust security measures to protect the vast amounts of data processed by AI algorithms. Failure to do so can result in data breaches, which can severely damage a brand’s reputation.

ROI and Skills Gap

The initial investment in AI technology can be high, but there’s a noticeable skill gap in the workforce when it comes to implementing and managing AI systems. Retailers must weigh the potential returns against the investment and training costs. Moreover, they need to upskill their workforce to effectively leverage AI’s capabilities.

The Future of AI in Retail

AI Trends in 2023

AI in retail is expected to grow significantly in the coming years. For instance, AI-powered chatbots are becoming increasingly sophisticated, providing instant customer support and improving overall customer satisfaction.

Generative AI in Retail

Generative AI is emerging as a powerful tool for creating highly realistic images of products for online stores, social media and other marketing materials.

Case Study: eBay and Generative AI

eBay is one of the biggest examples of using Generative AI in retail. The company uses Generative AI to create realistic product images, enhancing the online shopping experience and boosting sales.

 

In conclusion, AI is set to play a transformative role in the retail industry. Its ability to enhance the customer experience, streamline operations and improve efficiency makes it a game-changer for the sector. Despite the challenges, the future of AI in retail looks bright, with significant growth expected in the coming years.

Take the Next Step

If you’re interested in understanding how AI can be applied to your industry, consider booking a presentation from AI Ireland. Gain insights tailored to your specific needs and challenges. 

Additionally, for a comprehensive guide on leveraging AI in the business landscape, pre-order our book “AI for Executives.

Early Bird Tickets Now on Sale for the 2023 AI Awards.

The fifth annual AI Awards takes place on Tuesday November 21st at the Gibson Hotel. This is an exciting opportunity to connect and network with over 200 AI and Data professionals across the island of Ireland and hear from some of the most exciting AI applications across industry and academia spanning 12 award categories.

Don’t miss the opportunity to get your discounted Early Bird tickets now! Head over to aiawards.ie/tickets or Eventbrite and enter the discount code EarlyBird_AIA to get your ticket for just €100. Limited tickets available; Original Price €239.