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- 🖥️ Google's Jarvis Takes Over Computer?
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Plus: Grok can now "see"
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Google’s New AI, 'Jarvis,' aims to control your computer – but they’re late to the game. OpenAI has been developing this since February, Anthropic launched theirs last week, and Apple is working on AI that’ll manage apps on your iPhone. So, who will come out on top?
What are on FIRE 🔥
AI REPORT
💡 Future of Fintech 2024
ChatGPT's release split fintech companies into two groups: those founded before (who adapted to it) and those founded after 2020 (who built with it from the start).
Key takeaways:
AI-First Fintechs Make More Value: Fintechs started after 2020 create more value per dollar invested.
Two Main AI Uses: Tools that work for all industries (horizontal) and tools just for fintech (vertical)
Smart Automation: Certain fintech tasks, like insurance claims processing, are more suitable for automation than high-sensitivity tasks (e.g., underwriting).
Cutting Costs with AI: Older fintechs use AI to replace workers and save on labor costs. Klarna uses AI chatbots to handle tasks that used to need 700 people.
Why it matters: Microsoft's strategic partnership with OpenAI has positioned them strongly, though comAI is helping older companies cut costs while new AI-native startups bring innovative solutions. Personalized financial services and secure data-sharing are expanding. Fintechs creating valuable tools must stay resilient, especially as regulations increase.
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TODAY IN AI
AI HIGHLIGHTS
⚖️ UK man Hugh Nelson gets 18 years in Bolton Crown Court since he used AI from Daz 3D to create plus sell child abuse images
🌍 Meta develops AI search engine while its chatbot currently relies on Google and Microsoft Bing yet their web crawler already explores the internet.
🔮 Anthropic and Google race to create AI technology called 'Project Jarvis' that can directly interact with a user's computer or browser, expanding the boundaries of AI-human interaction.
🤖 Coinbase launches 'Based Agent' to let crypto users build AI agents in under 3 minutes, integrating with smart contracts for trades, swaps and staking.
🍎 Apple debuts AI features like improved writing, editing, and Siri on iPhone 16, iPad, and Mac, but analysts doubt short-term sales boost.
DAILY AI FUNDRAISING
AI startup Sierra, co-founded by Bret Taylor, raised $175M at a $4.5B valuation. Sierra’s AI bots handle customer tasks autonomously, aiming for fewer errors and adaptable brand personalities.
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AI QUICK HITS
👀 Grok now supports vision uploads on web & mobile (Link)
🏥 AI hospital transcription tool “invents” unheard phrases (Link)
📈 Perplexity serves 100M+ weekly queries (Link)
🎬 Disney to launch major AI initiative in VFX & post-production (Link)
📚 Meta releases NotebookLlama (open-source) to turn PDFs into podcasts (Link)
AI CHART
AI’s dominance in the venture market and broader tech conversations is reflected in this year’s Fintech 100 cohort.
Total Funding: The 100 winning companies have raised a combined $7.2 billion so far, with $2 billion raised just this year, showing strong interest in fintech.
Biggest Investments: Three companies—Bilt Rewards ($350M), Akur8 ($120M), and FundGuard ($100M)—received the largest investments this year.
Global Presence: 52 companies are based outside the U.S., across 23 countries on six continents, showing fintech’s worldwide reach.
Young Companies: Almost half of these companies are in early stages, showing a wave of new startups entering the fintech world.
Important Partnerships: Since last year, winners have formed over 850 partnerships with big names like Mastercard and State Street, highlighting strong business connections.
Top Investor: Plug and Play Ventures has backed the most companies in this list, supporting businesses in payments, wealth management, and payroll.
AI JOBS
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