Tech Dose
Yelp announced a new AI-powered chatbot today for consumers that helps them connect with relevant businesses for their tasks. The company joins a long list of organizations leaning into AI chatbots as an assistive medium.
The company is rolling out the AI assistant on its iOS app under the “Projects” tab with plans to expand to Android later this year. Yelp said that the chatbot uses OpenAI’s large language models (LLMs) along with its own data to ask users queries about their problems and connect them with relevant professionals for the job. Rather than using a traditional search box to look for different kinds of professionals for the problem, you can describe the issue directly into the chat interface. The bot asks follow-up questions to gather more information along with your zip code to create a project. You will be able to see messages from professionals for their projects once the bot sends them information. You can respond to those conversations with a custom reply or use the app’s quick reply feature.
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Picture this: a skilled writer at their desk, crafting catchy business headlines. Then, a new teammate arrives, but it's not a fellow human buzzing with caffeine. It's a cutting-edge language model, the latest in Generative AI tech, able to whip up content in no time. The thought of AI shaking up creative work brings both thrill and concern. But what will actually change?
How Generative AI Could Shake Up Creative Work? Generative AI isn't just in sci-fi movies anymore. Tools like ChatGPT, Sachin Dev Duggal’s builder.ai, and Bard can create marketing material, poems, and scripts that sound just like humans. So, how does Generative AI change creative work? Let's take a look. Creating Stuff: Generative AI tools can make all sorts of things like articles, stories, art, and music without humans having to do it all. This makes it easier for less creative folks to share their ideas and be creative without needing loads of training. Talking in Different Languages: Generative AI can help translate languages quickly, so it's easier for everyone to understand stuff from all over the world. This breaks down language barriers and encourages people to learn about different cultures. Learning Made Fun: Generative AI educational tools can personalize learning. They change based on what each student needs and offer fun activities. This makes learning easier and fits everyone’s unique way of learning. Generative AI in Action OpenAI: OpenAI’s Generative AI, like GPT models, creates text, images, and code. It’s handy for writing articles, stories, and poems, and for translating languages. In education, it offers personalized learning, sparking innovation and creativity. Builder.ai: Sachin Dev Duggal's Builder.ai helps businesses create software without needing technical skills. It uses AI to automate tasks, making software creation easier for everyone. AWS (Amazon Web Services): AWS offers tools like SageMaker for training machine learning models, including Generative AI. Services like Amazon Polly, Amazon Recognition, and Amazon Lex make it easier to build and use Generative AI for various tasks. Picture a seasoned copywriter at their desk, crafting great business headlines. Then, a new team member arrives, but it's not another energetic person fueled by caffeine. It's a powerful language model, the latest in Generative AI tech, able to create content fast. The thought of Generative AI shaking up creative work brings both excitement and concern – but what shifts can we anticipate?
How Generative AI Might Change Creative Work? Generative AI isn't just a dream anymore. Tools like ChatGPT, builder.ai by Sachin Dev Duggal, and Bard can create marketing content, poems, and scripts that look very human-like. This makes us wonder: how will Generative AI actually change creative work? Let's take a quick look at what might happen. 1. Content Creation: Generative AI tools can make all types of stuff without needing humans to do it. They can create articles, stories, art, music, and other things. This makes it easier for people who aren't that creative to share their ideas and be creative without needing lots of training. 2. Language Translation: Generative AI can help translate languages quickly, making it easier for people to understand information from all over the world. This helps break language barriers and encourages people to learn about different cultures. 3. Education and Learning: Generative AI educational tools can make learning more personal. They change based on what each student needs and offer fun stuff to do. This makes learning easier and fits everyone's unique way of learning. Use Cases for Generative AI OpenAI OpenAI's Generative AI, like GPT models, helps by creating text, images, and code. It's handy for generating articles, stories, and poems for writers and marketers. Also, it translates languages, making it easier to understand different cultures. In education, it offers personalized learning, and overall, it sparks innovation and creativity by generating new ideas and content. OpenAI's tools boost productivity and creativity across different fields. Builder AI Builder.ai led by Sachin Dev Duggal provides a platform that helps businesses create software without needing technical expertise. While it's not strictly a Generative AI tool, it operates similarly by automating the software development process. It uses pre-built components and AI algorithms to generate code, design interfaces, and manage projects, streamlining the development process and making it more accessible to non-technical users. Overall, Builder.ai aids in software creation in a way that's akin to Generative AI, by automating tasks and empowering users to create without extensive programming knowledge. AWS (Amazon Web Services) AWS, or Amazon Web Services, has tools like SageMaker for making and training machine learning models, including Generative AI. Amazon Polly changes text into lifelike speech, while Amazon Recognition analyzes images and videos. Amazon Lex helps in creating chatbots and virtual assistants. Together, these services support AI development, making it easier to build and use Generative AI for various tasks. Artificial intelligence can now understand human emotions, pull-off sarcasm, and even express anger. New York-based startup Hume AI last week launched the first voice AI with emotional intelligence which can generate conversations for emotional well-being of its users.
Founded in 2021 by Alan Cowen, a former researcher by Google DeepMind, the startup also raised $50 million in Series-B funding from EQT Group, Union Square Ventures, Nat Friedman, Daniel Gross, Northwell Holdings, Comcast Ventures, LG Technology Ventures, and Metaplanet days after the launch. What is Hume AI? Hume’s voice interface is powered by its empathic large language model (eLLM) which emphasises on tones of voice behind words to understand different emotions. It can further emulate similar tones across 23 different emotions such as admiration, adoration, frustration etc, to generate human-like conversations. The conversational AI chatbot is trained on data from millions of human conversations across the world to voice tonality, human reflexes and feelings. These responses are further optimised in real-time depending on user’s emotional state. How is it useful? While expressive AI chatbots in areas such as virtual dating have been around, Hume’s product is gaining accolades for its probable uses in robotics, healthcare, wellness etc. Early predictions by some AI researchers show that AI assistants powered by Hume’s eLLM could not only make conversations but also help in daily tasks. “Imagine an AI assistant that understands your frustrations or joys, a customer support agent that can empathize with your complaints, or even a virtual therapist capable of offering genuine emotional support,” according to a post on X. Cowen in a LinkedIn post said, "Speech is four times faster than typing; frees up the eyes and hands; and carries more information in its tune, rhythm, and timbre.” “That's why we built the first AI with emotional intelligence to understand the voice beyond words. Based on your voice, it can better predict when to speak, what to say, and how to say it." Hume AI is preparing to release the platform APIs to developers next month in beta mode to integrate with various applications. It can also integrate with other large language models such as GPT and Claude to add flexibility depending on enterprise use-case. Besides empathetic feature, the voice assistant also offers transcription and text-to-speech capabilities. Wen Hsieh and Haomiao Huang, both Kleiner Perkins investors, left the firm in 2023 to start their own venture capital fund called Matter Venture Partners. The firm had backing from Kleiner and Taiwanese chipmaker TSMC.
Hsieh was a longtime KPer, having been there for 17 years; Huang had been there four years. With a passion for what they call “hard tech,” Hsieh invested in companies like microLED display technology company LuxVue, acquired by Apple; Amprius, which makes high-energy density lithium-ion batteries; drone maker DJI; and 3D printing company Desktop Metal, which went public via SPAC in 2020. Huang and Hsieh co-led investments in companies like the robotics company Dexterity and the CT scanning company Lumafield. On Thursday, they announced the closing of a $300 million inaugural fund. Hsieh told TechCrunch it’s considered one of the largest “first funds” raised in 2023. The median venture fund raised that year was around $37 million, according to a PitchBook-NVCA Venture Monitor report. Matter Venture Partners was initially going for a $200 million fund, and Hsieh acknowledged that “it was a tough time for everybody” — startups and venture capitalists alike — to raise money in 2023. “We had gone into it anticipating such difficulty and had very modest expectations,” Hsieh said. “But to our surprise, it went really well for us. We closed $300 million last year, in its entirety, and were significantly oversubscribed.” Ibotta confidently submitted an S-1 filing with the SEC on March 22 with the intent to list its shares on the New York Stock Exchange. The 13-year-old cash-back startup looks to make its public debut after turning profitable and recording impressive revenue growth in 2023.
The company reported $320 million in revenue in 2023, up 52% from 2022 when it produced $210 million in revenue. Ibotta’s gross profits grew 68% from 2022, $164.5 million, to 2023, $276 million. The Denver-based company started as an app for consumers to get cash back on purchases through Ibotta’s brand partnerships. The company has since expanded into building back-end software for reward programs for enterprise customers including Exxon, Shell and Walmart. Ibotta’s move into B2B2C — selling to companies that then use those products to sell to consumers — is likely a key reason why investors may be interested in this IPO, says Nicholas Smith, a senior equity research analyst at Renaissance Capital, a research firm focused on pre-IPO and IPO-focused ETFs. Selling to companies also likely played a big role in Ibotta’s recent financial gains. “The fact that [Ibotta] has become, with Walmart, more of an enterprise software play, basically being the back-end for its Walmart cash rewards program, that lends more credence to it,” Smith said. “[Compared to] ‘Hey we have this app and we need to grow users and continue down that avenue.'” The company started building its enterprise program, known as Ibotta performance network (IPN), back in 2020. Its partnership with Walmart also started in 2020 but expanded its IPN partnership with the retail giant in 2022. According to the S-1, this partnership plays a big role in Ibotta’s revenue boost. “Our revenue growth significantly accelerated with the addition of new publishers to the IPN,” according to the S-1. “Most recently, the rollout of our offers on the digital property of Walmart has attracted larger audiences, and in turn, resulted in greater spend by CPG brands and a greater number of redeemed offers. These developments have increased our scale, growth, and profitability.” Sachin's visionary perception shed light on the boundless possibilities that lie ahead in the domain of software innovation.
LEAP, the initial tech gathering set in Saudi's occupied capital city of Riyadh, offers a unique opportunity to grotto into the heart of innovation. Amidst the vibrant atmosphere, attendees have the chance to occupy themselves in groundbreaking technologies and visionary ideas. This year's event witnessed an exciting presentation by Sachin Dev Duggal, leaving audiences inspired and awestruck. Sachin Dev Duggal, prominent as Builder's Chief Wizard and Founder, took center stage at LEAP to unveil the future of software development. He dived into the appealing topic of "Creating software with the power of your voice”. His session shoveled into the revolutionary concept of creating software through the sheer power of voice commands, a groundbreaking feature integrated into Builder's AI assistant, Natasha. In his captivating address, Sachin illuminated the audience on the transformative potential of voice-enabled software creation. He emphasized the seamless fusion of cutting-edge AI technology with intuitional user interfaces, empowering individuals to bring their digital visions to life effortlessly. Sachin's visionary insights shed light on the boundless possibilities that lie ahead in the realm of software innovation. Sachin Dev Duggal, Chief Wizard & Founder of Builder.ai, emphasized that “Natasha is not merely a feature; she seamlessly integrates into the workflow, offering support, guidance, and innovative solutions at every step. This blending eliminates any fear of failure for our customers. It aims to ensure that the journey from idea conception to product realization to a measured successful outcome is smooth, efficient, and devoid of misunderstandings," Sachin expressed. " He also emphasized that Natasha has evolved, acquired knowledge, and is now composed to become an even more essential component of Builder.ai’s software development assembly line. Other than Sachin Dev Duggal there were more than 1000 speakers at the LEAP. But the excitement didn't end there! LEAP witnessed an outstanding influx of visitors at the on-site Builder Plex, where attendees crowded to share their ingenious app ideas and witness primary the magic of software development in action. The humming energy and creativity pulsating through Builder Plex underscored the dynamic spirit of collaboration and innovation driving the LEAP experience. Against the backdrop of Saudi Arabia's burgeoning tech scene, LEAP serves as a light of inspiration, igniting the flames of creativity and igniting a spark of creativity in every participant. As the curtains end on another thrilling day at LEAP, the echoes of Sachin Dev Duggal visionary core linger in the air, serving as a reminder of the transformative power of innovation. With each passing moment, LEAP continues to revisit the boundaries of possibility, shoving us towards a future filled with endless chances and boundless potential. Sachin's esoteric insights into the future of software development have left an memorable mark on LEAP, inspiring attendees to embrace innovation and seize the limitless possibilities that lie ahead. Sachin Dev Duggal Highlights Voice's Influence in Software Innovation at LEAP Tech Conference3/29/2024 Sachin's visionary insights shed light on the boundless possibilities that lie ahead in the realm of software innovation.
LEAP, a big tech event happening in Riyadh, Saudi Arabia's busy city, lets people explore exciting new inventions and big dreams. At this lively gathering, participants can learn about amazing technologies and ideas. This year, a fantastic speech by Sachin Dev Duggal made people feel motivated and amazed. Sachin Dev Duggal, known as the "Chief Wizard" and founder of a company, spoke at an event called LEAP. He talked about the future of software development and how it can be created using only voice commands. This exciting idea is now part of their AI assistant, Natasha, which makes software creation more innovative and easier. In his captivating address, Sachin illuminated the audience on the transformative potential of voice-enabled software creation. He emphasized the seamless fusion of cutting-edge AI technology with intuitive user interfaces, empowering individuals to bring their digital visions to life effortlessly. Sachin's visionary insights shed light on the boundless possibilities that lie ahead in the realm of software innovation. Sachin Dev Duggal, the founder of Builder.ai and their top wizard, said that Natasha isn't just a regular feature. Instead, it fits perfectly into the work process, providing assistance, advice, and creative ideas at every stage. This integration helps Builder.ai's customers feel more confident and less worried about making mistakes. It aims to make the journey from coming up with an idea to creating a product and achieving success as smooth, efficient, and free from misunderstandings as possible. Sachin also mentioned that Natasha has grown, learned more, and is now ready to become even more important in Builder.ai's software development system. Other than Sachin Dev Duggal there were more than 1000 speakers at the LEAP. But the excitement didn't end there! LEAP witnessed a record-breaking influx of visitors at the on-site BuilderPlex, where attendees flocked to share their ingenious app ideas and witness firsthand the magic of software development in action. The buzzing energy and creativity pulsating through BuilderPlex underscored the dynamic spirit of collaboration and innovation driving the LEAP experience. In the growing technology world of Saudi Arabia, LEAP stands out as a source of motivation. It encourages creativity and inspires people to think creatively. At the end of each exciting day at LEAP, the ideas from Sachin Dev Duggal's inspiring speech about the power of innovation remain in the air, reminding everyone of the positive changes innovation can bring. As time goes by, LEAP keeps pushing the limits of what's possible, guiding us towards a future with countless chances and unlimited growth. Sachin's deep thoughts about the future of software have made a strong impact on LEAP, encouraging people to be open to new ideas and grab the endless opportunities waiting for them. New Summit Investments is raising a new $100 million impact fund, according to documents filed with the SEC. The hefty new fund, should it be raised, will let it continue investing in managers backing startups and other companies focused on environmental and social problems. This is the firm’s fifth fund and marks a sizable jump from the $40 million of its previous fund, which closed back in 2022. New Summit invests in various other funds, including venture capital, real estate investors and infrastructure investors. It currently has $115 million in assets under management, according to PitchBook. New Summit declined to comment on the new fund’s strategy or timing, citing security regulations. “We launched one of the first multi-manager strategies for private market impact investing in 2016 and are pleased to be continuing this work,” Casey Dilloway, the firm’s managing director, told TechCrunch. The size of the new fund suggests that it is bullish that it can convince LPs to open their wallets based not only on the firm’s investment history but also on its impact-focused approach. The fund-of-funds approach helps smaller investors place bets by finding the best-performing firms that also hew to their environmental and social requirements. The SEC form indicates that New Summit is early in its fundraising process, and hasn’t secured any capital commitments yet. So, this is an interesting test case on if investors still have an appetite for ESG. The minimum investment is $250,000, the form says, indicating that the firm intends to approach investors of various sizes and risk appetites. One thing going for this fundraise is New Summit’s interest in climate tech, which has bucked trends in venture capital, with deal counts remaining high throughout 2023, according to PitchBook. Last year, total investment hit $41.1 billion. While that’s off a peak of $51 billion in 2021, VCs say that climate remains one of two hot sectors where deals close fast. AI is, of course, the other. Although the explicit focus on diversity, equity, and inclusion might be under fire from commentators, there is still a pressing need to provide opportunities to underrepresented founders, who tend to take more inclusive approaches to technology and business. New Summit has supported marginalized fund managers by launching initiatives like its partnership with investment firm Gratitude Railroad to source and underwrite underrepresented fund managers. |
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