😱 Adobe Photoshop introduced Generative Fill. "AI Pact" formed due to slow regulation. Nvidia is now the most valuable chip company.
GM, and happy Thursday! Welcome back to another AIcyclopedia newsletter.
Here’s what we’ve got for ya today:
Adobe Photoshop gets an AI facelift: Generative Fill
Google and EU commission develop “AI Pact” due to slow regulation
Nvidia is now the most valuable chip company
Bill gates predicts the winner of AI
AI News: The Headliners 🏁
1/ Adobe Photoshop gets an AI facelift: Generative Fill
[The News] Called Generative Fill, Adobe Photoshop recently released a new AI tool that allows its users to alter images by either adding or removing objects with a simple descriptive text prompt.
[The AI] You’ve got to see it to believe it (1-minute):
Looking forward… As of now, Generative Fill is only available for beta testing. You can download the desktop beta app to try it out for yourself.
According to Adobe, we can expect to see it released in full in “the second half of 2023.”
2/ Google and EU commission develop “AI Pact” due to slow regulation
[The News] It was announced during a meeting between Google CEO Sundar Pichai and EU industry chief Thierry Breton that Google and the European Commission plan to form an "AI Pact" ahead of AI regulation.
Why?
Breton said in a statement: "Sundar and I agreed that we cannot afford to wait until AI regulation actually becomes applicable and to work together with all AI developers to already develop an AI pact on a voluntary basis ahead of the legal deadline.”
Simply put, government regulation of AI is too slow.
[Why this matters] The development of AI is moving at a pace that far exceeds the pace of government regulation and decision-making.
With the EU and US tech leaders working together to begin establishing industry rules, this can give the government leaders a minimum guideline on how to shape future AI laws.
Looking forward… Breton is pushing EU countries and lawmakers to make final decisions on the proposed AI rules before the end of 2023.
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AI News: The Shorts 🩳
3/ Nvidia is now the most valuable chip company
[The News] After an amazing first quarter for Nvidia, the chip company forecasts 2nd quarter revenue more than 50% above Wall Street estimates.
According to Reuters, Nvidia’s stock rose 28% after the bell to trade at $391.50, its highest stock price ever. Now, Nvidia is the world’s most valuable chipmaker and Wall Street’s fifth-most valuable company.
[Why this matters] Nvidia CEO Jensen Huang said in a statement that the company is “significantly increasing our supply to meet surging demand” for their AI chips.
In short, demand is up, AI is not slowing down, and the race to the top is continuing at full speed.
FYI… Thanks to Nvidia, shares of other AI corporations also jumped, adding about $100 billion in stock market value.
4/ Bill gates predicts the winner of AI
[The News] Bill Gates recently spoke during a Goldman Sachs and SV Angel event in San Francisco on the topic of AI and who he predicts will win the race.
Here are the key points to note:
Gates believes the company that creates a personal digital assistant that can perform certain tasks for them will come out on top.
His words: “Whoever wins the personal agent, that’s the big thing, because you will never go to a search site again, you will never go to a productivity site, and you’ll never go to Amazon again.”
Who will win? Gates says there will be a 50-50 chance that either a startup or a tech giant will take the gold.
His words: “I’d be disappointed if Microsoft didn’t come in there. But I’m impressed with a couple of startups, including Inflection.”
Looking forward… Gates is simply making predictions right now. But if he is right, Google Search, Amazon, or any search platform for that matter, could be in trouble.
How the AI gold rush will influence the giants in the long run is unknown, but based on what we know, both Google and Amazon are doing everything they can to adapt to it.
Your AI news break 🥳
AI News Tid Bits…
👉🏻 The legendary rapper Ice Cube describes AI as “demonic”. His take: “The artists are getting lost in auto-tunes, and now that you have an AI computer, I think people don’t want a computerized rapper no more. They want to hear your voice. I don’t know any rappers by their voice no more.”
👉🏻 Buzzfeed launches Botatouille, a personalized AI-powered recipe generator. Features include a recipe generator and a personal chef chatbot.
👉🏻 Sam’s Club is turning to AI to compete against Costco. From sign-up to the AI help assistant, the goal is to help both associates work smarter to better help customers.
Top 3 AI tools for… icon creation:
Octoicons: Simply enter a prompt and let our AI-powered icon generator create one-of-a-kind and visually appealing icons for you. Ideal for designers, web developers, and anybody in need of high-quality graphics.
Appicons AI: In just a few minutes, you can create a mobile app icon for the Android and iOS platforms. There is no need for image editing software or technical knowledge.
Iconify AI: Use AI to quickly create a high-quality icon for your app. The days of spending a fortune and a lot of time on app icon design are over.
That’s it for today!
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See you Sunday 👋🏻
