Generative AI Is Expected to Fetch $4.4 Trillion Annually
Multiple research cases show the AI market is expected to reach trillions of dollars in the coming years.
According to McKinsey research, 63 Generative AI use cases across 16 corporate functions have the potential to create yearly economic benefits ranging from $2.6 trillion to $4.4 trillion.
A Report from PricewaterhouseCoopers states that artificial intelligence has the potential to contribute nearly $15.7 trillion to the global economy by 2030.
As a result of these positive expectations, investor interest has shifted significantly away from cryptocurrency and moved towards artificial intelligence technology.
McKinsey report highlights AI’s impact on industries like banking, high tech, and life sciences, specifically in customer operations, marketing, sales, software development, and R&D.
Generative AI applications such as ChatGPT, GitHub Copilot, Stable Diffusion, and others have captured the attention of not only top Venture capitalists and investors but also people around the world.
Generative AI technology is advancing rapidly. ChatGPT was succeeded by GPT-4 just four months later. Anthropic’s AI system, Claude, improved significantly, processing 100,000 tokens of text in a minute. Google introduced new generative AI features, including the Search Generative Experience and a new language model called PaLM 2, enhancing their Bard chatbot and other products.
CalypsoAI Secures $23M to Safeguard AI Models
As per the latest survey conducted by KPMG, it has been found that 90% of organizations acknowledge the risks associated with generative AI but lack clarity in terms of their management and mitigation strategies.
CalypsoAI aids AI models to protect against critical AI Security risks such as Data Loss Prevention, Data Quality Verification, Full Auditability, Malicious Code Detection, Jailbreak Prevention, etc.
Recently, the company announced a $23 million Series A-1 round headed by Paladin Capital Group and other investors, including some well-known angel investors like YouTube CEO Susan Wojcicki and her sister, 23andMe co-founder Anne Wojcicki. With this new round of funding, CalypsoAI has raised a total of $38.2 million since its founding.
CalypsoAI secures funding to enhance security solutions for the Large Language Model (LLM), acquire talent, and make strategic investments as demand grows.
Twitter Competitor Meta Threads Crosses 10M Sign-Ups in 7 Hours
Instagram launches “Threads,” a text-focused social networking app that allows users to share updates up to 500 characters long, including links, photos, and 5-minute videos, to compete with Twitter.
Meta CEO Mark Zuckerberg provided an update on his Threads account, indicating that within 7 hours, there were 10 million sign-ups.
Threads is available on iOS and Android in 100 countries but not in the EU due to concerns about local data privacy regulations.
Users can authenticate using their Instagram login, ensuring a smooth transfer of username and verification status. Threads profiles offer customization options for independent modifications.
Instagram’s new app will support ActivityPub, the same social networking protocol used by Mastodon and other federated applications.
I have been in the IT industry for more than 20 years. I have served Fortune 100 company in a senior role looking after projects related to US Banking, BFS, Mortgage, Insurance, and FMCG. Apart from IT, I like to read books, especially spirituality… read more