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  • 🆘 OpenAI on the verge of Bankruptcy in 2024?

🆘 OpenAI on the verge of Bankruptcy in 2024?

Discover the latest in AI: OpenAI’s Financial Challenges: A Risk of Bankruptcy by 2024, Pentagon Severely Delve into Generative AI's Potential. Join the AI revolution with AIFire!

Plus: Explore New AI Tools & Cheatsheets!

Read time: 5 minutes

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What are on FIREEE 🔥:

🎯 How Artificial Intelligence May Save Disney

🎉 Generative AI Set to Revolutionize Banking, Says BCG Report

🆘 Pentagon Launches Task Force to Delve into Generative AI's Potential

❤️ AI Revolutionizes Cardiovascular Care with Enhanced Imaging and Prediction

🪁 OpenAI Expands "Custom Instructions" for ChatGPT to All Users

🌀 OpenAI Go Bankrupt in 2024?

🛠️ 10 New AI Tools 🎁 4 Free AI Cheat Sheets 🎯 4 AI Jobs

Source: Disney

Disney is banking on AI to usher in a new era of entertainment, ensuring its theme parks and films remain both innovative and adaptable.

Key Takeaways:

  • Defining AI: AI means computers can do tasks like humans. Alan Turing envisioned this, suggesting AI can reinvigorate the Walt Disney Company.

  • Human & AI Symbiosis: While AI can help cut costs, it still requires human intervention. Engineers, technicians, and others make AI a reality for Disney.

  • Pillars of AI in Disney:

    • Innovation: Disney constantly seeks the next big thing, from theme park technologies to generative AI, ensuring they always stay ahead.

    • Sustainability: AI can make Disney's operations more eco-friendly and efficient. It's not about blindly following tech trends but about meaningful integration.

    • Adaptability: Disney has been adaptable for decades. AI is the next step in ensuring Disney thrives through global challenges.

  • AI in Different Sectors: AI's potential goes beyond theme parks, benefiting cinema too. It's a mistake to only envision dystopian futures; AI has much positive to offer.

  • Benefits Galore: AI can offer Disney various advantages, including time optimization, consistent food service quality, and legal perks.

  • AI and the Arts: AI can address some concerns in the entertainment sector, like the challenges actors face, ensuring a healthier work environment.

  • Generative AI's Role: AI can step in for more challenging aspects of performance, integrating the entertainment industry with machine learning's inevitable future.

Source: China Daily

Generative AI's rapid advancements could transform various aspects of banking, but with its growth, concerns around safe and responsible use, especially in data security, are emerging.

Key Takeaways:

  • Rising AI Role in Banking: Generative AI tools are projected to perform numerous basic and repetitive tasks, offering cost savings and better efficiency in banking operations.

  • Beyond Trials: While currently in its early stages, generative AI's application will span sales, operations, product creation, and investment consulting in the banking sector.

  • Need for Local Deployment: To promote large-scale commercial use, banks should optimize training, increase computing capabilities, and ensure the local fine-tuning of Large Language Models (LLMs).

  • China's AI Growth: Major Chinese tech giants, like Alibaba and Baidu, have unveiled their AI-powered LLMs, hinting at China's pivotal role in the next AI wave.

  • Security & Responsibility: Sun Wei from BCG stresses the need for a responsible AI system in banks, focusing on fairness, accountability, transparency, and security.

  • Regulatory Moves: China's central bank has recently laid out rules to fortify data security in the financial sector, and a new 24-point guideline on managing generative AI services is set to come into effect.

Source: Defense One

The Pentagon is stepping up its interest in generative AI with the introduction of Task Force Lima, aiming to understand the safe application of such technology and foresee potential threats from rival nations.

Key Takeaways:

  • Focus on Generative AI: Task Force Lima aims to explore and safely integrate generative AI technologies within the Defense Department.

  • Leadership: Led by Craig Martell, the Defense Department's chief digital officer, the team will discern beneficial use cases and those too risky, such as lethal weapons.

  • Data Balance Challenge: The task force seeks to understand if vast pre-trained data might lead to AI misinformation or "hallucinations."

  • Guiding Industry: The Pentagon's findings could shape how industries develop AI tools, emphasizing user-friendly and reliable models.

Source: Internet

AI is changing heart disease diagnosis and treatment. A new AI system uses many heart images to offer accurate treatments and early help. It focuses on detailed heart checks instead of usual signs.

Key Takeaways:

  • New Applications: AI helps in cardiovascular imaging and risk prediction, leading to pinpointed treatments and substantial cost savings.

  • In-depth Analysis: The AI system is built on 10 million heart images from 40,000 patients over 15 years, showcasing its comprehensive database.

  • Modern Techniques: It uses machine learning, deep learning, natural language processing, and CCTA analysis for personalized heart disease care.

  • Detailed Assessment: CCTA offers a vessel-by-vessel heart assessment, a drastic change from the old-school indirect markers.

  • Critical Shift: Over 50% of heart attack victims had no prior warning signs. This new AI method could be a game-changer in early detection.

Source: Nikos Pekiaridis/NurPhoto / Getty Images

OpenAI is giving every user, even those on the free plan, the power to tell ChatGPT exactly how they want it to chat back. It's a big leap from the feature's beta launch in July for premium subscribers.

Key Takeaways:

  • Time-saver: No need to repeat instructions with the chatbot, making interactions swift and smooth.

  • Custom responses: Imagine a teacher getting lesson plans without always mentioning they teach 3rd grade.

  • Available for all: Good news! Both free and Plus users on iOS and Android can now use this feature.

  • Chat history flexibility: Even if chat history is off, you can still use custom instructions.

Source: Internet

OpenAI, once the beacon of AI innovation, confronts major obstacles casting shadows over its future growth. As competition rises and user loyalty wavers, is OpenAI's golden age coming to an end? And here are some signals for us to believe it

Key Takeaways:

  • Trademark troubles: OpenAI's bid for the 'GPT' trademark hit a snag, causing some users to reconsider their choice.

  • ChatGPT's decline: A surprising 12% user dip in July, with many eyeing open-source alternatives like Meta’s LLaMA 2.

  • Profit puzzle: OpenAI's switch from non-profit and CEO Sam Altman's limited hold spark financial focus debates. The staggering $540 million loss since ChatGPT's birth adds to the concern.

  • Microsoft to the rescue: Their whopping $10 billion keeps OpenAI running, but 2023 and 2024's ambitious revenue aims might be too hopeful.

  • Daily dent: A jaw-dropping $700,000 is the daily cost for ChatGPT, with Microsoft and other backers currently footing the bill.

  • Musk moves in: Elon's xAI threatens OpenAI's reign with "TruthGPT" and GPU shortages amplify OpenAI's woes.

  • OpenAI's path ahead: More funds are needed urgently. Without a cash infusion, bankruptcy by 2024 might be the only option to get those NVIDIA GPUs and keep innovating.

  • Rocky road: OpenAI's tale? Plunging profits, user drops, legal hiccups, and slipping quality. The AI game isn't easy, even for the pioneers.

🛠️ 5 ChatGPT Prompts of the Day to Level Up Your Business

Many entrepreneurs have ideas for new businesses every single day. They never seem to stop thinking about ingenious solutions, inventions, and new products or services for their existing businesses. Train ChatGPT to sense-check each idea, so you can sort those incredible must-do ideas. These 5 prompts will turn your visions into victories!

  1. Figure out your unfair advantage

Case: If you’re going to start a new business, there should be a clear reason why. Why are you specifically best placed to begin this particular venture? Ideally you hit upon a concept that is multiplied by your unique intersection of skills, networks and interests. Once you get that, no one can compete with you. If there isn’t a clear reason for you to start a business, maybe it’s not the idea for you.

Prompt: I’m thinking of starting a business that [describe what this business does] and I want to understand my unique strengths in making it a success. I have experience in [describe your experience] and expertise in [describe your expertise]. I have access to people who [describe your network]. Can you give me the reasons why this will and won’t be a success based on my specific situation?

  1. Understand your perfect customer

Case: Trying to sell to everyone won’t get you anywhere good. Selling to one very specific person, however, resonating with their world and turning them into a raving fan, will bring you more of the same. But first you need to define them, make sure your idea actually solves their problems, and find out what action they are already taking. Get crystal clear on your perfect customer to unlock validation of your idea and see a clear plan to reaching them. Now ChatGPT knows about your business, prompt it for customer insights.

Prompt: Now you know what business I want to start, can you suggest who might be the one ideal customer for this business? Can you describe their demographics and explain what problems they might have, that my business might solve. Please rank these problems in order, starting with the most important thing to them. Next, tell me what products or services they are currently using to solve these problems.

  1. Assess demand for your idea

Case: So you have your idea and a feeling you could make it a success. Your customer profile is nailed on and you feel confident that they have problems that your idea solves better than what already exists. Next you need to check that your ideal customer exists, and frame your idea in a way that resonates. Make sure there are compelling reasons why that person would want to buy that product. Make sure there’s enough demand in the entire market, make sure you’re not joining a declining industry after the big gains have already been made.

Prompt: Can you give me 3 main reasons why someone would want to buy my product? Next, estimate how many people in [location, if applicable] could be in my target audience, and tell me the size of this market and its likely growth over the next five years. Please also include any adjacent markets I could explore.

  1. Collect feedback

Case: Everything so far has been theory, now is where you get some practice. Take these value propositions to your ideal customer and see if they like them. Hear their concerns, understand what excites them, and refine your offering from there. Use the intel to decide if this is a mountain you want to climb, and how profitable this route might be. Go beyond friends and family to find those who match your ideal customer profile and will give their honest opinion.

Prompt: Create a survey for my potential audience. Start by giving a description of my business and who it’s for, to set the scene. For the first question, create three compelling value propositions that address how my business solves a problem for them, and ask which value proposition most resonates. Next, ask how likely they would be to buy, and then ask what this new concept would need to do to win their business. Finally, give me options on how I collect this feedback from my target audience.

  1. Make your testing plan

Case: Survey responses will give you an idea of what people might want and how likely they would be to buy, but having something they can actually test out is the next step to validating your business idea. Ideally, you do this without incurring huge cost or hassle. Get ChatGPT’s opinion on what this could be, based on what it knows so far.

Prompt: How do I create a minimum viable product (MVP) or prototype, to test my business idea with real users and gather their insights? Include information such as how much this might cost and the steps to take to make it happen. Include what metrics I should look out for to know if my idea is worth pursuing.

📖 10 “Best” AI Tools for Business 

Related links:

4 HitPaw Photo Enhancer https://www.hitpaw.com/

6 Lovo.ai https://lovo.ai/

7 Images.ai https://images.ai/

📝 4 FREE AI Cheatsheets

  1. The Generative AI Application Landscape

  2. ChatGPT’s Prompts for the Interview Cheat Sheet

  3. Important parameter of current chatbots model

  4. Master Formulas and Macros with ChatGPT

    Get access to all Cheatsheets here

💼 AI Jobs

  • LinkedIn: ChatBOT and AI quality and insights lead (Link)

  • Google: Senior Software Engineer for AI/ML – Computer vision (Link)

  • Google: Technical Accountant AI (Link)

  • Uk.indeed: Research Assistant in Artificial Intelligence (Link)

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