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Plus: Midjourney is the next AI Photoshop?
Read time: 5 minutes
Take a glimpse into a world where autonomous AI agents can handle everything from A to Z, using AI-generated data to train evaluator models, assess, and improve the accuracy of other AI models. No humans are required.
What are on FIRE 🔥
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AI MODEL
🚀 H2O.ai's Tiny Models Outsmarting Tech Giants
H2O.ai's new AI models have outperformed tech giants in key tasks despite their smaller size, proving that efficient models can rival larger ones.
Key takeaways:
The H2OVL Mississippi-0.8B model surpassed larger competitors in OCRBench Text Recognition, despite its modest size of 800 million parameters.
The H2OVL Mississippi-2B model ranked highly in vision-language benchmarks, proving effective in various document AI tasks.
CEO Sri Ambati stressed that these models offer high performance and efficiency at a fraction of the cost.
Available on Hugging Face, the models are free for businesses to adapt to their specific needs, offering flexible and efficient solutions.
Analysts believe H2O.ai’s approach to AI development, focusing on small models, could disrupt the dominance of tech giants in the AI space.
Why it matters: By focusing on small, efficient models, H2O.ai is making AI more available to businesses that might have found larger models too expensive or complicated, helping more people access advanced AI technology.
PRESENTED BY CONVERGENCE AI
Proxy, the AI Agent for Everyday Life
Imagine if you had a digital clone to do your tasks for you. Well, meet Proxy…
Last week, Convergence, the London based AI start-up revealed Proxy to the world, the first general AI Agent.
Users are asking things like “Book my trip to Paris and find a restaurant suitable for an interview” or “Order a grocery delivery for me with a custom weekly meal plan”.
You can train it how you choose, so all Proxy’s are different, and personalised to how you teach it. The more you teach it, the more it learns about your personal work flows and begins to automate them.
TODAY IN AI
AI HIGHLIGHTS
🎯 Microsoft will launch AI agents in Copilot Studio next month alongside 10 new autonomous agents for Dynamics 365 platform, targeting sales, customer service and supply chain functions.
🚀 Former OpenAI CTO Mira Murati launches new AI startup, seeking over $100M in venture funding for proprietary AI models development.
🎨 Midjourney CEO David Holz announces web tool launch next week that lets users edit any online images using their AI technology.
💰 Perplexity AI seeks $500M funding round to reach $8B valuation while currently generating $50M annual revenue.
🔬 UCLA researchers developed SLIViT AI model under Dr. Halperin that analyzes 3D medical images faster than human experts.
🗣️ Apple's Siri lags 30% behind ChatGPT in speed and 25% in accuracy as an internal report reveals a two year AI deficit.
🤖 Meta FAIR launches Self-Taught Evaluator AI that assesses and improves the accuracy of other models without human input using autonomous learning.
DAILY AI FUNDRAISING
Oriole Networks raised $22 million to reduce AI data centers' energy consumption using advanced photonics. Their tech trains AI models up to 100 times faster with less power, solving speed, latency, and sustainability issues.
AI SOURCES FROM AI FIRE
NEW EMPOWERED AI TOOLS
🛠️ Finaura empowers your digital assets with limitless possibilities
📌 AI Desk is AI-powered customer service for your website
✔️ BrowserCopilot AI is your AI companion across the web
▶️ MyLensAI transforms any webpage or YouTube video into a quick, visual summary.
👾 SagaLabs AI is AI-powered translation tool and platform tailored for writing
AI QUICK HITS
📜 AI detectors wrongly flag human essays with false positive rates were 4% (Link)
🎙️ New Chrome extension catches AI-generated voices (Link)
📚 Penguin Random House says ‘no’ to AI training on its books (Link)
🍏 Apple’s new iPad Mini showcases secret AI edge (Link)
🔗 xAI, Elon Musk’s AI startup, launches an API (Link)
AI CHART
Source: Visual Capitalist
AI venture capital is in the spotlight as the sector navigates through ups and downs. Over the last decade, AI startups have attracted more than $650 billion globally, driving both innovation and investor interest. But the landscape has shifted, and the game is changing.
The problem:
AI investment saw explosive growth between 2013 and 2021, with average deal values peaking at $15M in 2021. But things started to cool off, and now in 2023, the average deal value has fallen to $11.4M, with exit values dropping to $48M.
Investors are taking note, and they’re being more selective about where their money goes. Instead of chasing every AI startup, venture capital firms are focusing on quality over quantity.
Meanwhile, the first half of 2024 has focused on AI, contributing to over 60% of growth in U.S. venture backed valuations. The real question now: Will firms adapt to the volatility or be left behind in the rush for AI gold?
AI JOBS
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The AI Fire Team
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