AI Weekly Digest - November 13 2023
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Generative AI market to hit $59bn by 2028
New forecasts suggest the global market for generative AI will grow from $6bn this year to $59bn in 2028. Omdia said the consumer market will witness the fastest growth, hitting around $11bn by 2028, with the media and entertainment sector next in line at $8bn. Eden Zoller, chief analyst at Omdia, said: “Generative AI is innovative and disruptive. Many businesses are experimenting with it, and some are getting good results. The technology has huge potential but also huge risks.”
PwC expects consolidation as AI matures
Meanwhile, PwC's Euan Cameron said that smaller suppliers are likely to disappear as the generative AI software market matures. Cameron, head of artificial intelligence in the UK for PwC, said: “The generative AI market probably won’t continue to sustain 400 different [AI] players and will see consolidation."
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ChatGPT passes 100m weekly active users
OpenAI CEO Sam Altman revealed that ChatGPT now has 100m weekly active users after launching in November 2022. Speaking at the group's first developer conference, Altman also said the Microsoft-backed AI company is launching custom versions of ChatGPT that can be tailored for specific applications, turning the chatbot interface into a digital platform. It is calling the customised AI apps "GPTs" and will launch a GPT Store later this month. Altman said: "Eventually, you'll just ask the computer for what you need, and it'll do all of these tasks for you. We really believe that gradual iterative deployment is the best way to address the safety challenges of AI. We think it's especially important to move carefully towards this future."
Nadella says OpenAI has 'built something magical'
Microsoft CEO Satya Nadella made a surprise appearance at the OpenAI conference, saying the company had “built something magical”. He added: "We commit ourselves deeply to making sure you all, as builders of these foundation models, have not only the best systems for training and inference, but the most compute so that you can keep pushing forward on the frontier." OpenAI CEO Sam Altman said: “I think we have the best partnership in tech and I’m excited to build [artificial general intelligence] together.”
xAI launches sassy chatbot Grok
Elon Musk’s artificial intelligence start-up xAI has released its first AI model. The bot, named Grok, has been made available to all X Premium+ subscribers. Musk, who is looking to take on rivals OpenAI, Google and Meta, said Grok "loves sarcasm" and will answer questions with "a little humour", adding: “It will also answer spicy questions that are rejected by most other AI systems." Musk said: "Grok has real-time access to info via the X platform, which is a massive advantage over other models."
AI regulatory land grab 'inevitable'
An unnamed politician who attended last week's AI safety summit said a US land grab is “inevitable”, despite the country signing the Bletchley Declaration on future regulation. The source told the FT: "AI is the next big thing, and no one is going to roll over and play dead and say you take over. China’s not going to let that happen, and certainly the US won’t.”
Meta blocks political advertisers from generative AI tools
Meta announced it is barring political campaigns and advertisers in other regulated industries from using its new generative AI advertising products. It comes amid concerns from politicians that access to the tools could see a surge in election misinformation. The Facebook owner said: "We believe this approach will allow us to better understand potential risks and build the right safeguards for the use of generative AI in ads that relate to potentially sensitive topics in regulated industries." Last month Nick Clegg, Meta's top policy executive, said the use of generative AI in political advertising was "clearly an area where we need to update our rules".