Wednesday, 22 November, 2023
AI business technology news – November 2023
Artificial intelligence is evolving at such a rapid rate. We like to comprehensively review recent AI news and trends, aiming to provide clients with the knowledge and insights to extract maximum value from AI.
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- Semiconductor sales booming due to AI – 24/11/2023
- University AI spinout initiative started – 23/11/2023
- Anthropic has released Claude 2.1 – 22/11/2023
- AI chips help triple Nvidia’s revenue – 22/11/2023
- OpenAI board reformed – 22/11/2023
- AI agreement – 21/11/2023
- AI-powered factory – 21/11/2023
- FREE AI training – 20/11/2023
- OpenAI rollercoaster – 20/11/2023
- Pandora chooses AI platform – 20/11/2023
- Second wave of AI – 17/11/2023
- Amazon invests further in AI – 17/11/2023
Semiconductor sales booming due to AI – 24/11/2023
Q3 2023 semiconductor sales rose 8.4% to $139 billion, driven by AI demand. This is the second consecutive quarter of industry growth after five quarters of decline. Others semiconductor segments are growing alongside AI demand. Revenue increased significantly for data-intensive AI GPU makers NVIDIA and SK Hynix. Other sectors like wireless, automotive, and consumer grew. Memory recovered, rising from $19.3 billion to $24.5 billion. NVIDIA is now the second-largest semiconductor company by revenue, challenging Intel and Samsung.
MN Tech thoughts – It is anticipated that the semiconductor industry will become 1 trillion dollars by the end of the decade. If the global economy improves, we anticipate that this will be higher due to the increased adoption of ML/AI.
University AI spinout initiative started – 23/11/2023
The AI SuperConnector initiative is a six-month accelerator for early-stage AI researchers interested in commercialising their work. The programme is being led by Imperial College London and the universities of Leeds, York, and Liverpool, and its goal is to increase the marketability of AI technologies while also addressing issues in areas such as security, healthcare, climate change, robotics, and autonomous systems. The project intends to help all regions and address the under-representation of women in AI. Nearly £1.5 million from the Research England Development Fund and another £300,000 from other sources have been collected for the project. [University of Leeds]
MN Tech thoughts – University AI spinouts help commercialise cutting-edge research. These companies develop AI technology with real-world applications using academic expertise and resources. Academic researchers can commercialise their IP and contribute to AI through AI spinouts. These startups drive AI innovation and solve social issues by connecting academia and industry. The spinout approach also enables long-term AI technology development, especially in scientific research with protracted development cycles. Initiatives are excellent as the are helping springboard the latest AI research throughout the world.
Anthropic has released Claude 2.1 – 22/11/2023
Anthropic has released Claude 2.1, an updated large language model, amidst the turmoil at OpenAI. This strategic move positions Anthropic as a stable alternative to OpenAI and allows them to take advantage of the instability of their main rival. Claude 2.1 significantly improves accuracy, honesty, and capabilities, including a larger context window, reduced hallucination and false claims rates, and better summarization and comprehension of complex documents.
The release of Claude 2.1 is expected to escalate the AI arms race and establish Anthropic as a leader in the field, especially as competition from tech giants like Google and Microsoft intensifies. This timing is advantageous for Anthropic as it can offer customers a more reliable choice as organisations integrate natural language AI into their operations. [Venture Beat]
MN Tech thoughts – Making a strategic decision between choosing LLMs will become tricky. Your best bet is to work out what you need and compare LLMs for the best fit. It may require a flexible business model, so you widen your LLM options.
AI chips help triple Nvidia’s revenue – 22/11/2023
Nvidia’s revenue tripled in the third quarter due to the rise of generative artificial intelligence, with 206% growth year over year. However, the company anticipates a negative impact in the next quarter due to export restrictions affecting sales in China and other countries. Despite this, Nvidia expects strong growth in other regions. The company is working with clients in the Middle East and China to obtain U.S. government licences for high-performance product sales.
The GH200 GPU was announced with more memory than the current H100 and an additional Arm processor. Data center revenue reached $14.51 billion, up 279%, with half coming from cloud infrastructure providers like Amazon.
The gaming segment also contributed significantly, reaching $2.86 billion, up 81%. Nvidia’s guidance for the fiscal fourth quarter includes an expected revenue of $20 billion, implying nearly 231% growth. [CNBC]
MN Tech thoughts – These are impressive figures by NVIDIA. Nvidia’s growth in AI is attributed to its long-term investment in AI development. The company’s strong financial position and growing cash and equity hoard have also contributed to its successful growth. AI is fully dependent on hardware, and they are in a great position to capitalise on this. As more enterprises explore their own AI models, the demand for hardware and AI cloud provision will only increase. NVIDIA are in a great position to capitalise on this.
OpenAI board reformed – 22/11/2023
OpenAI has formed a transitional board of directors, including Bret Taylor, Larry Summers, and Adam D’Angelo, with the return of Sam Altman. The board is expected to have nine members, including Altman and a Microsoft executive. An economist and political veteran, Larry Summers has been appointed to leverage his connections with governments, businesses, and academia. Other departures include Ilya Sutskever, Tasha McCauley, and Helen Toner. Brockman, who resigned as OpenAI’s president, also returns following a tweet earlier today. [Tech crunch]
MN Tech thoughts – This is good news and hopefully puts this chaotic chapter to bed. It highlights that need for a unified strategy and clear communication in any enterprise.
AI agreement – 21/11/2023
Germany, France, and Italy have agreed on a joint approach to regulating artificial intelligence in the EU, advocating for binding voluntary commitments for both large and small providers. The EU is currently negotiating its stance on AI, debating whether to initially apply a code of conduct to major US AI providers. The proposed regulations could establish penalties for code of conduct violations. [Reuters]
MN Tech thoughts – AI regulation is coming; however, it looks like the EU regulations have been held up, hence this agreement by these key EU countries. This agreement is based on “mandatory self-regulation through codes of conduct” for foundation models of AI. Together, we underline that the AI Act regulates the “application of AI” and “not the technology as such”.
When implementing AI, it is good to consider these and other international agreements/laws to reduce any potentially costly changes.
AI-powered factory – 21/11/2023
Hyundai has launched a new AI-powered factory in Singapore, capable of producing cars within six hours of an order. The facility, currently producing the Hyundai Ioniq 5 and Ioniq 6, is a customer experience centre with a virtual reality suite, a bespoke car creation area, and a restaurant serving on-site produce. Hyundai plans to launch a full “mass personalisation” offensive in the coming years. [Autocar]
MN Tech thoughts – Mass personalisation is an incredibly exciting prospect for consumers and manufacturers. This means products are tailored to customer needs rather than carrying huge inventory. AI is revolutionising manufacturing by enabling mass personalisation, allowing manufacturers to offer unique products at affordable prices. This strategy encourages “just-in-time” manufacturing and reduces excess inventory, both supported by long-tail economics. This shift boosts customer loyalty and repeat business, resulting in increased revenue, a competitive advantage, improved cash flow, and reduced waste.
FREE AI training – 20/11/2023
Amazon has pledged to offer free AI skills training to 2 million people globally by 2025, including eight new courses, a Generative AI Scholarship for high school and university students, and a collaboration with Code.org. The initiative is part of Amazon’s broader cloud computing skills training investment. [Amazon]
MN Tech thoughts – It is anticipated that there will be a huge AI/Data Science skills shortage in the future. Initiatives like this will help help inform more and improve AI adoption speeds too.
OpenAI rollercoaster – 20/11/2023
Huge developments at Open AI, the world’s leading AI company. A timeline of events. [Tech crunch]
MN Tech thoughts – OpenAI is one the most influential AI companies in the world. This is super important, as it will greatly impact ChatGPT and wider AI development across the world.
Pandora chooses AI platform – 20/11/2023
Pandora has chosen o9 Solutions’ AI-powered Digital Brain platform to revolutionise its planning and merchandising processes, optimise its planning and merchandising operations, and handle multiple planning needs across manufacturing, supply chain, and retail on a single platform. [Pymnts]
MN Tech thoughts – Retail has become highly complex. AI-powered retail planning platforms offer cost reduction, omnichannel customer experience, marketing effectiveness, decision-making accuracy, inventory management optimisation, fraud detection, and personalised customer service, improving operational efficiency and demand forecasting. More companies will continue to explore these platforms
Second wave of AI – 17/11/2023
NVIDIA CEO Jensen Huang and Iliad Group Deputy CEO Aude Durand discussed the second wave of AI, its need for global adoption, and potential breakthroughs in digital biology, manufacturing, and robotics. They praised France’s AI leadership and emphasised the importance of computing infrastructure, data, open source, and open science in AI progress. [NVIDIA]
MN Tech thoughts – Artificial intelligence (AI) saw a significant increase between 2022 and 2023, with companies focusing on optimising applications for concrete results. This shift represents the maturation of AI and the need for businesses to invest in improving efficiency, accuracy, and adaptability. Jensen is correct in pointing out this distinction and how it may impact businesses for years to come.
Amazon invests further in AI – 17/11/2023
Amazon is cutting hundreds of jobs in its Alexa unit as it focuses more on artificial intelligence. [Fortune]
MN Tech thoughts – We will see many companies shift employment towards AI. However, there may be many who will use AI as an excuse.
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