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AI is really a big deal for the future of work

Also: Will ArtPrize allow AI-created art?

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AI KATANA
September 19, 2023

Hi!

Welcome to your daily update on the world of AI. The undeniable impact of AI on professional work has been confirmed in a recent study, with ChatGPT-4 showing substantial benefits in consultant performance. Grand Rapids art community debates the role of AI in art creation, and notably, AI-generated art won't find a place in ArtPrize this year. An intriguing study from China showcases AI's superior ability in urban design, suggesting a bright future for AI in urban planning. The gaming industry is gearing up for a significant transformation, with generative AI at the forefront. Morgan Stanley has embraced generative AI, launching an assistant tool for financial advisors. In venture capital news, Ant Group shifts its focus from crypto to AI, and a South Korean AI chip startup has gained a notable valuation.

Sliced:

  • 👩🏻‍💻 AI is really a big deal for the future of work

  • 🖼️ Will ArtPrize allow AI-created art?

  • 🌆 AI Can Already Design Better Cities Than Humans, Study Shows

  • 🕹️ How Will Generative AI Change the Video Game Industry?

The recent study conducted by a team of social scientists in collaboration with the Boston Consulting Group has demonstrated the substantial impact of AI, particularly GPT-4, on the future of professional work. In an expansive experiment involving consultants from BCG, those who utilized ChatGPT-4 significantly outperformed their counterparts who did not. Consultants using AI managed to complete 12.2% more tasks, did them 25.1% faster, and achieved 40% higher quality. However, it's essential to recognize the "Jagged Frontier" concept of AI capabilities – areas where AI excels and areas where it doesn't. A significant observation from the study was the two effective approaches to harnessing AI: the Centaur method, which clearly demarcates human and AI tasks, and the Cyborg approach, which involves closely intertwining human and AI efforts. The study concludes that AI's impact on the work environment is undeniable and emphasizes the need for strategic and ethical integration of AI into our work processes.

The Grand Rapids art community is divided over the use of AI in creating art. While some artists view AI as just another tool, others believe it infringes on the originality of artists. Platforms like Microsoft Bing's image creator allow users to generate images with AI, operating on responsible AI principles to prevent misuse. Despite the increasing use of AI tools in art, ArtPrize, a major art competition in Grand Rapids, has decided not to allow AI-created art this year. They emphasize that their competition celebrates human-made art. However, there are opinions within the community that suggest discussing the inclusion of AI art in future competitions.

A study from Tsinghua University in China reveals that AI can produce more efficient urban designs than human planners in a significantly shorter time. The researchers, led by automation scientist Yu Zheng, created an AI system that outperformed human designs by about 50% in terms of access to services, green spaces, and traffic levels. Although the model currently works best for smaller urban areas, its capabilities could be extended to larger ones. The AI's computations were notably faster, completing tasks in seconds that would take humans nearly two hours. The team envisions the AI assisting, rather than replacing, human planners. This collaborative approach resulted in improved access to services and parks. In a blind survey, urban designers sometimes favored AI-generated designs over human ones, underscoring the potential of AI in future urban planning.

Generative AI is poised to significantly impact the video game industry over the next 5 to 10 years, with many executives expecting it to manage over half of the game development process. While it's currently used mainly in preproduction stages, such as concept development, its potential applications are vast, spanning story generation, creation of non-playable characters, in-game asset development, community management, and enabling user-generated content. However, the industry faces challenges such as rights and ownership complexities, a rapidly changing vendor landscape, technology integration issues, and concerns about the preservation of human creativity. To capitalize on generative AI's potential, gaming companies need to strategically consider whether to build, buy, or partner, ensure player experience remains paramount, and recognize that successful integration of AI goes beyond mere technological adaptation.

🛠️ AI tools updates

Morgan Stanley has launched a generative AI tool developed in collaboration with OpenAI's GPT-4 technology, making it the first major Wall Street firm to do so. Named the AI @ Morgan Stanley Assistant, the tool provides financial advisors rapid access to a database comprising around 100,000 research reports and documents. The tool is designed to optimize efficiency, allowing advisors to focus more on client interaction. To use it, advisors are required to phrase their questions in complete sentences, akin to speaking with a human assistant, instead of relying on keyword searches. Morgan Stanley sees this advancement as just the beginning, with more generative AI solutions in the pipeline. The bank's embrace of AI exemplifies the disruptive potential of the technology across various industries.

💵 Venture Capital updates

Chinese fintech powerhouse, Ant Group, has chosen to exit the cryptocurrency market, selling its $100 million stake in A&T Capital, a firm linked to various crypto entities. This comes as A&T faced challenges, notably the resignation of founding partner Yu Jun during a probe into his professional conduct. The decision aligns with diminishing venture capital enthusiasm for crypto, as June saw a 23% dip in VC funding for the sector. Concurrently, Ant Group is redirecting its energies to artificial intelligence, launching a finance-centric AI model recently. The group, affiliated with Alibaba and backed by Jack Ma, is navigating a challenging regulatory landscape in China, evident from a hefty fine imposed last July for regulatory infringements.

South Korean AI chip startup, Panmnesia, has secured a valuation of $81.4 million after raising a seed round. The firm specializes in developing intellectual property for Compute Express Link (CXL) technology, which optimizes big data center operations by pooling AI accelerator chips, processors, and memory, addressing the memory bottleneck challenge in AI data processing. Panmnesia's CEO, Myoungsoo Jung, highlighted the lack of a standard interface for AI accelerators in data centers and suggested that their technology might appeal to chip design software giants like Synopsys and Cadence Design Systems. With a $12.5 million investment led by Daekyo Investment and participation from various other investors, this move aligns with the South Korean government's ambition to boost the national AI chip industry.

🫡 Meme of the day

⭐️ Generative AI image of the day