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The pace is picking up in the AI industry with countries including South Korea, the United States and Canada all pushing for a lead in the AI race. And the stock market is reflecting the hype around ChatGPT. We've got lots to cover this week! Let's get to the good stuff.
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In today's issue:
💡 MOST INNOVATIVE PRODUCT: Galileo
📰 AI NEWS: AI stocks soaring on ChatGPT hype | The AI music industry is about to explode | South Korea, US and Canada pushing to lead the AI race
💰WHO GOT FUNDING THIS WEEK: Rezolve.ai, Entropik, Wisor AI, Regie.ai, QUASH.ai, Kognitos, MDI Health, ShareID, BluWave-ai, Curacel, EthonAI, LevrAI, PTTRNS.ai, Ludimos
🤯 COOLEST THING: Genius by Diagram
🧠 LEARN SOMETHING NEW:How to use ChatGPT for SEO and Google Analytics
📖 FURTHER STUDY: Additional industry links and resources
💡MOST INNOVATIVE PRODUCT
Something that so many people wished existed is finally here.
Introducing Galileo: a tool that creates UI designs from a simple text description 🤯
Trained on thousands of outstanding designs, Galileo AI turns natural language prompts into high-fidelity designs that are editable in Figma.
AI stocks soaring on ChatGPT hype | The AI music industry is about to explode | South Korea, US and Canada pushing to lead the AI race
AI stocks are soaring on ChatGPT hype
The frenzy surrounding ChatGPT has created a market surge for AI stocks, with some up over 400% year to date.
Read more on AI stocks in the Further Study section below.
The AI music industry is about to explode
Billionaire Kuok Meng Ru, CEO of Caldecott Music Group, believes AI-generated instrumentals are one component to “empowering and democratizing” the music industry, and that they're "one of the beauties of the new trends in music."
His company created BandLab, an AI music production app that doubles as a social network for creators, and was valued at $315 million in 2021.
Separately adding to the same sentiment, David Guetta says the future of music is in AI. He thinks musicians will use AI as a tool to create new sounds in the future, because "every new music style comes from a new technology."
South Korea aims to join AI race as Rebellions.ai launches new chip
South Korean startup Rebellions.ai is racing to win big government contracts with its new AI chip called ATOM, created specifically for computer vision and chatbot AI applications. Due to its AI-focused design, the chip consumes only about 20% of the power of an Nvidia A100 chip on those tasks, Reuters reported.
The South Korean government is looking gain a solid foothold in the AI industry. It plans to invest more than $800 million over the next five years in an effort to lift the market share of Korean AI chips in domestic data centers from essentially zero to 80% by 2030.
US government announces National AI Research Resource
The United States wants to stay ahead of China in AI — and democratize access to AI research and development resources that were previously only accessible to large technology companies and universities. Read the full 104-page paper here.
Canada also wants a piece of the pie
Canada's François-Philippe Champagne announced a contribution of $40 million to Scale AI's 'record-breaking' financing round of $117 million. Champagne said he wants Canada to be at the forefront of the AI transition that revolutionizes how the world does business.
Who got funding this week
Ludimos raised an undisclosed amount to maximize cricket coaching using AI.
Further reading on funding for AI startups
🤯 Coolest Thing
Genius by Diagram
We previously covered Magician by Diagram — A Figma tool for everything from copywriting to generating unique icons from text.
Now, brought to you by the same studio:
Genius — an intuitive application that co-designs alongside you to autocomplete your work.
What else we found this week
Create AI-generated software backends with Autobackend.
Text-driven 3D texturing! Check it out.
You can easily scrape data from webpages with extractGPT.
Restaurants are now using AI images for menu photos.
A stunning AI image by fofrAI had people guessing the prompt.
🧠 LEARN SOMETHING NEW:
How to use ChatGPT for SEO and Google Analytics
Some large websites such as Buzzfeed are already starting to use AI-generated texts as part of their content strategy. While this application of AI writing tools is a grey area for now, ChatGPT has proven to be an exceptional help with SEO and Google Search Console.
ChatGPT can do most of the heavy lifting for these things and more:
Keyword research & analysis
Content strategy development
Understanding search intent
Generating SEO titles
Composing analytics reports
Setting up custom pixel conversions
Here are two great guides to learn everything you need to know 👇
Further Study 📖
AI Investing is everywhere this week 📈
Forbes | How To Get Out Of A Recession (Hint: Try AI Investing) — read article
Business Insider | Best AI Stocks to Buy: 74 Picks From Top Fund Managers — read article
Markets Insider | ChatGPT is overhyped and the craze for AI stocks is set to fizzle — read article
Financial Times | Artificial intelligence stocks soar on ChatGPT hype — read article
CNBC | AI stocks to play the ChatGPT driven artificial intelligence craze — read article
Bloomberg | AI Stocks: FOMO or Market Craze — read article
Barron's | AI Stocks Are Soaring. It's a Feeding Frenzy That Won't End Well — read article
10 impressive generative AI startups to watch out for in Europe in 2023 — read article
Wave of AI-based marketing startups arrives as Microsoft, Google rush AI-based products to market — read article
Benchmark Expected to Join Generative AI Rush With Deal for Startup LangChain — read article
AI Holds The Key To World’s Biggest Problems — read article
Regret being hostile online? AI tool guides users away from vitriol — read article
Funding awarded to AI project that predicts and prevents falls in aged care — read article
Tech Jobs: Here Are Dozens Of Artificial Intelligence Startups Hiring Now — read article
It's been a busy week, but one thing is clear — the AI revolution is upon us. What are your predictions for the generative AI landscape in 2023?
Until next week,
Nathan Lands & Michele du Toit