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Plus: State of the Corporate Law Department
Read time: 5 minutes
Good Morning!
Start your day with a great opportunity: a new AI side hustle where you can sell your content to tech firms to train their AI models. It's a win-win after recent plagiarism issues.
What are on FIRE 🔥
AI REPORT
🧑⚖️ 2024 State of the Corporate Law Department
Source: Thomson Reuters 2024
The 2024 Corporate Law Department report outlines how legal teams can use data and AI to reshape their business role.
Key Takeaways:
31% of C-suite leaders prioritize quality of advice, compared to 16% of legal professionals.
Using AI can improve legal work speed, addressing both quality and efficiency.
42% of GCs believe AI will transform the legal profession.
Quantifying preventative work helps legal teams compete with other departments' metrics.
Legal departments should highlight regulatory successes to demonstrate value.
Why it matters: Corporate law departments are shifting from cost centers to strategic leaders. GCs need to align with executives, set metrics, compare with other departments, and innovate using AI and new technologies. This approach helps optimize resources and supports the company's goals, transforming the legal team from a "No" department to a "How" department.
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TODAY IN AI
AI HIGHLIGHTS
🚀 Cohere introduces Prompt Tuner, a tool to optimize prompts for generative AI models. It improves prompts in 94% of use cases, boosting efficiency in enterprise LLM workflows.
📰 Perplexity AI launches 'Publishers Program' to share ad revenue with media outlets after plagiarism claims. Fortune, Time, and others join.
What do you think about Perplexity AI's Publishers Program? |
🧠 Amazon's new AI chips outperform NVIDIA's by 40-50%. AWS, with 20% of Amazon's revenue, aims to cut costs.
🔮 Meta's Zuckerberg and NVIDIA's Huang share AI vision at SIGGRAPH 2024. Both CEOs emphasize open-source AI's importance, with Llama 3.1 as a turning point.
🧮 GPT-4o Long Output allows 64,000 input for 64,000 output tokens. Original GPT-4o: 124,000 input, 4,000 output. Users choose between longer inputs or outputs within 128,000 total token limit.
📬 OpenAI are rolling out Advanced Voice Mode to ChatGPT Plus users, offering natural conversations, interruption capability, and emotional responses.
🖼️ Midjourney V6.1 is live! It enhances prompt understanding, texture detail, complex images, anatomy, and author or style recognition, with fewer imperfections.
DAILY AI FUNDRAISING
Credo AI, a leader in AI governance software, raised $21M, bringing its total funding to $41.3M. Led by CrimsoNox Capital, the funds will boost product innovation and expand strategic efforts.
AI SOURCES FROM AI FIRE
AI is important for strengthening your skills and saving time for more efficiency, but a lack of training is common in companies that are not tech experts. However, it’s not hard to ‘DIY’ with AI Fire's diverse posts on many topics and fields. You can ask us directly if you encounter any issues. We are here to help.
Thank hig***@icloud.com for the insights, and we hope that AI Fire Academy will empower your work with AI.
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AI QUICK HITS
🤖 Elon Musk predicts 10 billion humanoid robots reshaping civilization (Read More)
✨ Your new AI friend is nearly here (Read More)
💓 AI bots handle chat for OnlyFans stars (Read More)
😱 The horror of Google’s "Dear Sydney" AI ad (Read More)
❓ Google AI chatbot refuses to answer questions about Trump (Read More)
🎨 Canva buys Leonardo.ai to enhance AI features (Read More)
AI CHART
Samsung Electronics Q2 profit surged over 15-fold due to rising chip prices
The company's operating profit reached 669 billion won ($524 million) compared to 14.1 billion won the previous year.
This significant increase was driven by a rebound in memory chip prices, with expectations of continued strong demand due to artificial intelligence technology.
Additionally, Samsung plans to invest in advanced chip manufacturing to maintain its market leadership.
AI TUTORIAL
Create Your Own Custom AI With AI Studio
Meta is launching AI Studio in the US, a place where people can create, share, and find AI. Powered by Llama 3.1, AI Studio lets anyone make and discover AI characters. Creators can use it to build AI versions of themselves to connect with more fans.
1. Visit the Website or Open Instagram:
Go to ai.meta.com/ai-studio.
Alternatively, open Instagram and start a new message.
2. Access AI Chats: On Instagram, tap on “AI chats” to begin.
3. Customize Your AI Character: You can customize your AI character’s name, personality, tone, avatar, and tagline.
AI JOBS
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LAST WORD 👋
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The AI Fire Team
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