Generative AI News - Busting Generative AI Myths, Big Funding Rounds, Job Displacement, and Some Higher Ed AI Sanity Emerges
Top generative AI industry news from the week of July 6, 2023
The Generative AI News (GAIN) rundown this week was recorded on July 6, 2023. Some special segments include:
Mythical generative AI capabilities. From theory of mind to general AI to emergent abilities, generative AI claims keep getting proven wrong.
The generative AI funding fountain continues to be strong, but we discuss whether some companies are struggling to grow into their high valuations.
We also give you a new list of generative AI winners and losers of the week.
Many thanks to my guests and co-hosts this week Tobias Dengel and Patrick Wright of WillowTree. They brought an interesting perspective on AI capabilities, education, and funding.
Generative AI News
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Links related to the top stories are included below for anyone that wants to dig deeper into a topic.
Top Story of the Week
Generative AI Funding Fountain
Generative AI in the World
German News Publisher CEO Confirms Generative AI will Replace Jobs
24 Top UK Universities Draft New AI Principles - Commit to Generative AI Education
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ChatGPT Web Traffic Drops. Is Generative AI's Hype Cycle Ready to Plunge?
SimilarWeb reported a 9.7% drop in worldwide traffic to ChatGPT and a 5.7% decline in unique visitors in June 2023. This is SimilarWeb’s first reported month-over-month decrease for ChatGPT website since its launch in November 2022. Traffic declined even more in the U.S., where it fell 10.3%.
Generative AI to Reach $1.3 Trillion in Annual Revenue - Let's Break That Down
Bloomberg Intelligence forecasts rapid growth for generative AI, rising from about $40 billion in 2022 to $1.3 trillion in 2032. During that period, generative AI will climb from less than 1% of total IT spending to 12%. The growth forecast predicts a 42% compound annual growth rate (CAGR). According to the report: