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AI to hit 40% of jobs and worsen inequality, IMF says

Also: Microsoft offers $20 consumer AI subscription to boost business

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AI KATANA
January 15, 2024

Hi!

Today's email newsletter delves into the multifaceted impact of AI across various sectors. The IMF warns that AI could affect 40% of jobs worldwide, potentially worsening inequality, especially in advanced economies. Meanwhile, OpenAI has set firm boundaries on the use of its AI tools in political activities to prevent misinformation and voter manipulation. In healthcare, Google's AI has shown promise in medical diagnostics, outperforming human doctors in accuracy and bedside manner. The Indian cinema landscape might be transformed by "Maharaja in Denims," the first feature-length film entirely created by AI, highlighting the industry's mixed feelings about this technology. In the business realm, Microsoft's new $20 consumer AI subscription, Copilot Pro, aims to democratize AI tools for individual users and small businesses. Additionally, Microsoft has broadened the availability of its AI assistant, Copilot, to all businesses, enhancing Office apps' productivity. Finally, in venture capital news, the South Korean Food Tech company Beyond Honeycomb has attracted significant investment with its innovative AI chef, marking a new era in culinary technology and automation.

Sliced:

  • 🧑‍💼 AI to hit 40% of jobs and worsen inequality, IMF says

  • ❎ OpenAI Bans Use of AI Tools for Campaigning, Voter Suppression

  • 🧑‍⚕️ Google AI has better bedside manner than human doctors — and makes better diagnoses

  • 🎥 Does AI-produced film ‘Maharaja in Denims’ mark a shift in Indian cinema?

  • 🆕 Microsoft offers $20 consumer AI subscription to boost business

The IMF reports that AI could impact 40% of jobs globally, potentially exacerbating inequality. This effect is expected to be more pronounced in advanced economies, with around 60% of jobs affected, though AI could enhance productivity for some workers. Conversely, in low-income countries, about 26% of jobs might be influenced. The IMF emphasizes the need for comprehensive social safety nets and retraining programs to make the transition to AI more inclusive and mitigate the widening inequality between nations. The report highlights the dual nature of AI in the job market: as both a tool for increased productivity and a potential risk for job displacement.

OpenAI has implemented strict policies regarding the use of its AI tools in political activities. The company, known for AI applications like ChatGPT and Dall-E, prohibits the use of these tools for political campaigning, lobbying, and creating AI chatbots that impersonate candidates or governmental entities. This move aims to prevent AI-generated misinformation and voter manipulation. Furthermore, OpenAI has banned tools that discourage voting and plans to encode images from Dall-E to trace their AI origin. These measures are part of a broader effort by AI companies to ensure responsible use of technology in the political sphere.

An AI system developed by Google, designed for medical interviews, has shown promising results in diagnosing medical conditions, particularly respiratory and cardiovascular issues. This AI, based on a large language model, demonstrated superior diagnostic accuracy compared to board-certified primary-care physicians in a study involving simulated patients. Additionally, the AI ranked higher in empathy and conversation quality, including aspects such as politeness and explaining conditions. Despite its experimental stage and the need for further testing and ethical considerations, this AI system offers potential in democratizing healthcare by augmenting the medical diagnosis process.

"Maharaja in Denims," an adaptation of Khushwant Singh's historical novel, represents a groundbreaking moment in Indian cinema as it is poised to be the world's first feature-length film created entirely by AI. This novel production approach, which involves no traditional sets, actors, or cameras, signals a potential major shift in India's film industry. While the Indian film sector remains cautiously optimistic about AI, recognizing its potential for reducing production costs, there's still skepticism about AI's ability to replace human creativity. This development in film-making technology reflects a broader trend of integrating AI into creative industries.

Microsoft has launched a $20 per month consumer AI subscription called Copilot Pro, targeting individual consumers and small businesses. This service enhances Microsoft's existing applications like Word and Excel with AI capabilities, including advanced text and data processing. Additionally, Microsoft has made its enterprise version more accessible by removing the minimum requirement of 300 users. This move aims to expand its customer base and compete with rivals like Google and OpenAI in the AI productivity and cloud software market.

🛠️ AI tools updates

CapCut, a Chinese video-editing application owned by ByteDance, has launched an AI-driven video-to-text converter specifically tailored for the fashion industry. This tool is designed to transcribe videos into text, enabling historians and enthusiasts to analyze the underlying stories, societal influences, and cultural implications within pivotal fashion eras. It enhances historical fashion narratives and storytelling, allowing creators to forge deeper connections with their audience. Additionally, CapCut's Image Upscaler improves the resolution and sharpness of historical fashion images, offering creators tools to generate ads and branded content for various platforms.

💵 Venture Capital updates

Beyond Honeycomb, a South Korean Food Tech company, has introduced an innovative AI chef that has garnered significant investor interest. This AI solution can replicate the cooking styles of professional chefs, ensuring consistent taste and texture. Equipped with advanced technology like spectral sensors, the AI chef analyzes and adjusts cooking in real-time, aiming for perfection in every dish. This groundbreaking technology has attracted a Series A investment of 7 billion won ($5.3 million) and represents a significant advancement in culinary technology and automation.

🫡 Meme of the day

⭐️ Generative AI image of the day