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- OpenAI may go bankrupt by 2024
OpenAI may go bankrupt by 2024
Adam Digital
August 14, 2023 • Estimated Reading Time: 6 minutes
Read time: 3 minutes.
🎉 Hey there, Super AI Tools Enthusiasts! 🎉
Hey there, awesome readers! Get ready to be blown away as you dive into the fascinating pages of this incredible chronicle, a true work of art that guarantees to keep you in the loop about the mind-blowing world of artificial intelligence.
❤️ Here's what's in store for you today:
📚 OpenAI may go bankrupt by 2024
💻 Elon Musk says Tesla cars now have a mind
🖼️ AI is filtering millions of qualified candidates out of the workforce
🖥️ AI is developing powerful antibodies beyond human imagination
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OpenAI's financial challenges: OpenAI is reportedly spending $700,000 per day to run its AI service, ChatGPT, and is struggling to generate enough revenue to break even. Despite attempts to monetize its AI models, the company is facing mounting losses.
Declining user base: OpenAI has seen a decline in its user base over the past few months. In July 2023, the user base dropped by 12%, indicating a potential loss of interest in ChatGPT. This decline in users may be attributed to the availability of open-source alternatives.
Microsoft's funding and future projections: OpenAI has received funding from Microsoft and other investors, which has helped keep the company afloat. However, the article suggests that OpenAI's projection of reaching $200 million in annual revenue in 2023 and aiming for $1 billion in 2024 may be ambitious given its current financial situation.
Elon Musk's claim: Elon Musk stated that Tesla cars may have "figured out some aspects of AGI" (artificial general intelligence) and believes that Tesla vehicles now have "a mind." He has previously emphasized the importance of self-driving technology for Tesla's value.
Tesla's self-driving progress: The article highlights the divided opinions within the Tesla community regarding the company's ability to deliver on its self-driving promises. While some believe Tesla could achieve its goals by the end of the year, others remain skeptical based on past missed timelines.
Tesla's approach to self-driving: Unlike other self-driving programs, Tesla relies heavily on camera-based vision and neural nets for its self-driving system. The company believes this approach is closer to how humans drive and could potentially be applied to other autonomous products.
AI screening in hiring: Many companies are using automated systems like Applicant Tracking Systems (ATS) to filter job applications due to the overwhelming number of candidates. However, this technology can unintentionally hide qualified candidates, leading to a potential loss of talent.
Discrimination and bias: AI-powered hiring tools can perpetuate discrimination, even when designed to be objective. They are trained on biased data produced by human recruiters, which can result in unfair treatment based on gender, race, or other characteristics.
Strategies for job seekers: Job seekers are finding ways to navigate AI screening, such as using tools like ChatGPT to analyze job postings and improve their applications. Additionally, they can study successful LinkedIn profiles in their desired field and replicate the skills and descriptions used.
LabGenius, a company based in South London, is using AI-powered technology to revolutionize the engineering of medical antibodies. Traditional antibody design is a slow and laborious process, requiring human protein designers to sift through millions of potential combinations of amino acids.
LabGenius has developed a machine-learning model that can explore this vast search space more quickly and effectively. The model selects over 700 initial options from a pool of 100,000 potential antibodies and then designs, builds, and tests them using automated robotic systems.
The data from these tests is fed back into the algorithm to refine the design of the next batch of antibodies. This automated approach has the potential to streamline the drug discovery process and lead to more effective antibody treatments with fewer side effects. LabGenius has already raised $28 million in funding and is partnering with pharmaceutical companies.
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