Latest In Web3, AI & Emerging Tech

Hello, and welcome to the latest edition of my weekly newsletter, where I bring you updates on the latest happenings in the world of Web3, AI, and Emerging Technologies.?

There are just so many things happening all at the same time in this industry and it’s often a job in itself to keep up to date with the latest, so it’s my pleasure to digest it all for you and share with you some of my favourites or most essential developments in the space.

So, without further ado, let's dive into this week's news!

OpenAI Launches GPT-4 API, Plans API Access Expansion

OpenAI has announced the release of its text-generating model, GPT-4, making it available through its API. Existing API developers will have access to GPT-4, with access for new developers expected by the end of the month. The company intends to increase availability limits based on computing availability.

GPT-4 boasts improved capabilities compared to its predecessor, GPT-3.5. It can generate text, including code, and accepts both image and text inputs. It performs at a "human level" on various professional and academic benchmarks. OpenAI trained GPT-4 using publicly available and licensed data.

While GPT-4 offers enhanced image understanding capabilities, this feature is currently being tested with a single partner. OpenAI has not specified when it will be available to the wider customer base.

OpenAI acknowledges that GPT-4, like other generative AI models, is not flawless. It may produce factual inaccuracies and reasoning errors. Additionally, it lacks the ability to learn from experience and faces challenges with complex problems such as generating code with security vulnerabilities.

In the future, OpenAI plans to enable developers to fine-tune GPT-4 and GPT-3.5 Turbo, allowing customisation with their own data. This capability is expected to be introduced later this year.

OpenAI has also announced the general availability of its DALL-E 2 image-generating model and Whisper speech-to-text model through their respective APIs. Older models, including GPT-3 and its derivatives, will be deprecated starting January 4, 2024, with new "base GPT-3" models replacing them. OpenAI will provide support to users transitioning to the new models.

The competitive landscape in generative AI has intensified, with Anthropic expanding the context window of its text-generating model, Claude. OpenAI's GPT-4 had previously held the crown for context window size.

These developments mark OpenAI's efforts to optimize compute capacity and meet the growing demand for its generative models.

EU Proposes Regulatory Sandbox and Global Governance for the Metaverse

The European Commission has outlined its leaked strategy for the metaverse, emphasising the need for global governance and regulatory sandboxes to foster innovation and ensure openness and security. The draft document highlights the unprecedented opportunities offered by virtual worlds in various societal areas such as healthcare, education, and culture. It calls for international engagement on key topics like technological standards, identity management, and censorship to shape the future internet as an open and secure space aligned with EU values and rules.

To address aspects beyond the scope of existing Internet governance institutions, the Commission aims to establish a technical multi-stakeholder governance process. The document mentions exploring the potential of decentralised autonomous organizations (DAOs) and identifying legal barriers hindering their adoption. Regulatory sandboxes will be promoted for testing short-term projects under a lighter regulatory framework.

The paper also raises concerns about dominant "gatekeeper" companies impeding competition and the risk of counterfeit goods undermining brands. The Commission aims to protect privacy and fundamental rights while preserving EU values in the metaverse.

The leaked document, which will be officially published next week, reflects the Commission's commitment to shaping the metaverse's future and ensuring its alignment with European principles.

Instagram's Threads Experiences Rapid User Growth

Instagram's Threads has achieved a significant milestone, surpassing 100 million users in a remarkably short period of time. Unlike ChatGPT, which took two months to reach the same milestone, Threads achieved this feat within a week of its launch. The platform has witnessed over 95 million posts and 190 million likes shared by users. Mark Zuckerberg attributes growth to organic means. While Threads is still in its early stages, its ability to retain users remains to be seen. Read more .

SpaceX Extends Lifetime of Reusable Falcon 9 Boosters, Pushing the Boundaries of Reusability

Boosters now aiming for double the number of flights as originally planned

SpaceX is once again rewriting the rules of rocket reusability with its Falcon 9 boosters. The company recently announced its goal to fly the boosters up to 20 times, doubling its original target. This ambitious endeavour comes on the heels of a significant milestone, as a Falcon 9 booster completed its record-breaking 16th flight, surpassing any other SpaceX launch vehicle.

To achieve this extended lifespan, SpaceX conducted thorough inspections and refurbishments on the booster, including a meticulous "recertification" process. This process aimed to demonstrate that the booster could perform flawlessly for at least five more launches after completing its 15th mission and landing in December.

The recent launch of a Falcon 9 rocket carrying a batch of Starlink Internet satellites marked the booster's successful initiation of its extended life. This achievement sets the stage for a new era of rocket reusability and paves the way for future missions to capitalize on the tremendous cost-saving benefits.

SpaceX's ultimate goal is to establish a fleet of Falcon 9 boosters that can be flown multiple times without compromising safety or performance. By significantly extending the lifespan of each booster, SpaceX aims to revolutionize the space industry by making space travel more accessible and affordable.

The Falcon 9 rocket used in the historic 16th flight, identified as B1058 in SpaceX's inventory, made its debut during the momentous Crew Dragon Demo-2 mission in May 2020. This mission marked the first crewed launch from U.S. soil in nearly a decade and reestablished America's capability to send astronauts to the International Space Station.

The Falcon 9's continued success has solidified its reputation as SpaceX's workhorse, with over 801 spacecraft and payloads launched to date, as well as two astronauts. SpaceX's dedication to rocket reusability has resulted in numerous successful landings, reaching a record-breaking 206 overall.

This extended lifetime for Falcon 9 boosters is made possible by the company's Block 5 design, introduced in 2018. Originally intended for ten flights, the boosters have consistently demonstrated their durability and performance, leading SpaceX to raise the bar to 15 flights and now aiming for 20. The boosters undergo rigorous testing, including vibration tests to ensure their fatigue life exceeds the demands of multiple launches.

With an impressive fleet of flight-proven boosters and several new-build rockets in the pipeline, SpaceX is well-positioned to continue its mission of revolutionizing space travel. By reusing first-stage boosters and payload fairings, SpaceX not only reduces launch costs but also achieves a higher flight rate, showcasing the company's commitment to efficiency and sustainability.

As SpaceX pushes the boundaries of rocket reusability, it aims to fulfil its ambitious goal of flying 100 missions in 2023, setting a new record for the most flights in a year by any launch provider. With each successful flight, SpaceX takes one step closer to realizing its vision of making space travel more accessible, reliable, and cost-effective.