Nvidia Cashes In On AI

Plus: ChatGPT Gets a Memory Upgrade

Author

Sam Siam
February 28, 2024

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Nvidia has reached a groundbreaking $2 trillion market capitalization, becoming the third U.S. company to achieve this milestone and leading the AI chip industry by outperforming giants like Amazon and Alphabet. This remarkable achievement highlights Nvidia's transition from a GPU manufacturer to an AI revolution leader, thanks to its cutting-edge H100 and H200 series chips. These chips, essential for AI and machine learning applications across various sectors, have propelled Nvidia to unparalleled market dominance.

Klarna, the Swedish fintech giant, has implemented an AI assistant, powered by OpenAI, that performs the work of 700 full-time customer service agents. In just one month, the chatbot managed 2.3 million customer service interactions in 35 languages, showcasing significant efficiency improvements, including a 25% reduction in repeat inquiries. Despite the AI's success, Klarna's move raises concerns about the future of its customer service workforce, with plans to reduce staff from 3,000 to 2,300. CEO Sebastian Siemiatkowski emphasizes the need for societal reflection on the impact of AI adoption on employment, urging a proactive discussion on the matter.

Google has recently unveiled Gemma, a pioneering collection of open-source AI models, as a complement to its proprietary Gemini suite. Gemma is introduced in two variations, 2B and 7B, showcasing impressive performance metrics that outpace many of its rivals in critical benchmarks. While Gemma might not boast the full capabilities of Gemini, it excels in efficiency and functionality, smoothly operating on standard laptops. Additionally, Gemma is widely accessible through platforms like HuggingFace, Kaggle, and Google Cloud's Vertex AI, broadening its reach and usability.

OpenAI has recently introduced a 'Memory' feature to ChatGPT, enhancing the chatbot's capacity for personalization by enabling it to retain and reference user-shared details across conversations. This update, currently available to a select group of users, aims to pave the way for more nuanced, lifelike interactions with the AI. The Memory function automatically activates but offers users the flexibility to opt out or manage what the AI remembers via settings. Despite the potential for improved user experience, the feature raises privacy concerns, prompting OpenAI to allow users to exclude their data from future model training while keeping Memory active.

WEB3

According to Glassnode, Bitcoin's "realized capitalization" has surged to $467.2 billion, nearing its April 2022 peak and indicating that the average Bitcoin investor has more than doubled their investment. This metric, which measures the total value of Bitcoin based on the last movement price of each coin, reveals that the true capital invested in BTC has reached new highs. With Bitcoin's market value to realized value (MVRV) ratio at 2.14, investors are seeing unrealized profits of 114%. Despite Bitcoin trading close to its all-time highs, analysts from Glassnode and IntoTheBlock suggest there's still significant growth potential ahead, with the MVRV ratio historically signaling a top when closer to 4.

Michael Saylor, Executive Chairman of Microstrategy, firmly positions bitcoin as the premier asset class, outpacing traditional investments like gold and real estate due to its technical superiority. In a Bloomberg interview, Saylor highlighted the transformative impact of spot bitcoin ETFs in attracting institutional capital to the cryptocurrency market, with demand often outstripping supply from miners. He asserts bitcoin's role as an exit strategy, emphasizing there's no rationale for trading the leading asset for lesser ones.

Ethereum is gearing up for the Dencun network update, scheduled for March 13, 2024, marking a significant leap towards Ethereum 2.0. This update, emphasizing scalability and efficiency, introduces data blobs and proto-danksharding to alleviate network bottlenecks. With this enhancement, Ethereum aims to process over 100,000 transactions per second, propelling the network into a new era of performance. The Dencun upgrade, following the monumental shift to Proof-of-Stake in 2022's Merge, positions Ethereum to outpace competitors and benefit layer-2 solutions like Optimism and Arbitrum.

ERC-404, an experimental Ethereum standard, has introduced a groundbreaking concept allowing for the fractional ownership of NFTs, propelling its first token, Pandora (PANDORA), to a meteoric rise of 12,000% in a single week. This innovative standard merges the functionalities of ERC-20 and ERC-721, enabling developers to create fractionalized NFT collections that can be traded openly. Pandora's success, with a limited supply of 8,000 tokens achieving $76 million in trading volume, has spurred a flurry of ERC-404 tokens across various blockchains, including Arbitrum and Solana.

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MARKETING

LinkedIn has introduced several AI-powered enhancements to its Recruiter HR platform, aimed at simplifying and optimizing the recruitment process. New features include AI-assisted conversational prompts for project creation, AI-generated recommendations for job titles and skills, and improved tracking of recruitment stages. These updates are designed to help recruiters target the right candidates more efficiently, even without deep technical knowledge of specific roles. Additionally, LinkedIn's "flexible pipeline statuses" offer recruiters a clearer view of candidate progress. The integration of AI into LinkedIn Recruiter reflects the platform's commitment to leveraging technology to enhance human-led recruitment efforts, part of a broader trend of AI adoption in professional networking and recruitment services.

Google has announced significant updates to its Search Partner Network (SPN), granting advertisers enhanced control and insight over their ad placements. Effective from March 4, these changes, including impression-level placement reporting and the application of exclusion settings across the network, YouTube, and display ads, respond to a controversial Adalytics report.

Neil Patel shares his take on using AI for online content. While AI can speed up the brainstorming and writing process, it turns out that articles crafted by humans are ranked better when it comes to attracting readers and climbing search rankings. Neil's experiments with Ubersuggest show that human-written articles pull in much more traffic over time compared to their AI counterparts. He points out that AI tends to recycle what's already out there, which might not resonate with readers looking for fresh insights. Despite the speed and convenience of AI, Neil suggests that the best use of AI in content creation might actually be in the groundwork of research, rather than the writing itself.

Natalia Zhukova, in the "Digital Horizons" Trends Report for 2024, explores pivotal innovations transforming digital marketing. AI's integration is enhancing personalization and efficiency, with a notable spike in AI tool traffic and its impactful role in content creation and data analysis. The Internet of Things (IoT) is reshaping consumer interactions, offering marketers novel engagement avenues, while advancements in AR and VR are merging digital and physical shopping experiences, promising increased conversions.

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