Microsoft and TikTok parent company ByteDance have collaborated on an AI project named KubeRay, designed to help organizations run and manage AI apps more efficiently and effectively.
The high-stakes battle between China and the US for AI supremacy has domestic lawmakers concerned over what this could mean for American prosperity, national security, and the economy. The collaboration comes as the world’s two largest economies pour resources into the race for dominance in the field.
At the Ray Summit in San Francisco, Microsoft principal software engineer Ali Kanso and ByteDance software engineer Jiaxin Shan discussed their progress with data scientists, machine learning experts, and other developers interested in building powerful open-source software called Ray.
Kanso and Shan explained the technical details behind KubeRay. They pitched the software as helpful in powering AI applications that run on multiple computers or distributed computing. According to his LinkedIn profile, Shan, who earlier worked as a software engineer at Amazon Web Services, is from the Seattle area, near Microsoft’s headquarters.
Microsoft has invested extensively in AI along with competitors like Amazon, Alphabet, Meta, and Apple. Like Google once did, Microsoft maintains an AI research lab in China, helping it tap into the academic talent of the country.
Meanwhile, as TikTok’s usage has drastically increased recently, ByteDance has been foraying into various AI open-source projects. In 2020, ByteDance debuted its software tool kit NeurST for AI-powered speech translation. And last year, the company debuted its open-source enterprise software CloudWeGo.
Meta announced an update for non-fungible tokens (NFTs) on Monday, 29 August 2022, allowing users to post their NFTs across both Facebook and Instagram from one digital wallet linked to both social handles. One can use digital wallets to post digital collectibles minted in Ethereum, Polygon, and Flow, such as Rainbow, MetaMush, Coinbase wallet, Dapper wallet, and Trust wallet.
In a blog explaining NFTs, Meta said, ‘Creators today are using NFTs to take control of their work, their relationship with their communities, and how they can monetize.’ Furthermore, the company thinks NFTs will be an essential part of how people buy, use, and share virtual objects & experiences.
Meta seems determined to make the metaverse a thing by doubling down Facebook and Instagram to allow NFTs. The NFT post looks like normal posts but has the badge “digital collectible” at the left side corner and will feature a shimmer effect displaying public information like a description.
The experiments with NFTs have been in action since May, and Meta has done a significant job on NFTs by gradually stepping up till now. From the beginning of 2022, in March, Mark Zukerberg stated NFTs were coming soon to Instagram, in May, Instagram started testing NFTs, and in June, more people were included in testing, and Zukerberg said NFTs would soon come to Facebook too. Then in July, Meta launched NFT support on Instagram across 100 countries, and now in August, it announced a new update allowing users to post NFTs on both Facebook and Instagram.
Meta has extended their support by showcasing different digital collectibles and working on custom animations for NFT posts & digital collectible collections. In addition, earlier this year, Zukerberg mentioned that Meta plans to work on displaying NFTs on Instagram stories and make them Spark AR compatible.
Tesla Inc. has asked a safety advocacy group to take down videos of its electric vehicles (EVs) running over child dummies when its driver assistant system was engaged, calling them misleading and defamatory.
The Dawn Project group has launched a nationwide TV campaign warning of the alleged potential dangers of Tesla’s Full Self-Driving (FSD) software, adding to regulatory and public scrutiny of the technology. A video posted by the group shows a Tesla vehicle with FSD software running over child-sized mannequins and asks Congress to shut it down.
Tesla said that the Dawn Project and its founder have been undermining Tesla’s commercial interests and spreading defamatory information. The Dawn Project disclosed the letter on Thursday. Tesla threatened legal action, saying the tests in the videos misrepresent the capabilities of Tesla’s technology and are likely fraudulent.
The US safety regulator has investigated Tesla’s Autopilot system following a series of crashes. The company said its FSD Beta, a test version of its new automated driving technology used by a limited number of consumers, does recognize pedestrians, including children. When appropriately utilized, the system reacts to prevent or mitigate a collision.
The Dawn Project was founded by Dan O’Dowd, a critic of Tesla’s FSD system and a software entrepreneur in California who had run for the US Senate. The Dawn Project said its tests are entirely legitimate and not deceptive and called Tesla’s marketing propaganda.
Sanas, a Palo Alto-based startup, has introduced to the world an AI intending to make foreign call center employees sound accent-neutral and white.
Sanas is a startup that provides “accent translation” for call center employees, a task that is usually outsourced to cheaper foreign markets like the Philippines and India. Sanas, which three Stanford graduates founded, offers real-time accent translation services to make it easy for call center employees to be understood by people. It has already bagged over $30 million in venture capital funding.
The software removes the accent and replaces the voice with something robotic akin to a standard American English accent. Sanas believes this will enab call center employees to regain their voice’s power, according to its website.
However, customer racism is likely to increase if workers are further dehumanized when an app is placed between worker and customer, especially since the app will no doubt make errors, said employees.
Sanas’ president Sarim stressed that workers would have a choice about whether or not to use the AI’s accent translation. However, those familiar with the exploitation within the foreign call center industry believe that the workers won’t have much choice if the tech proves successful.
Coinswitch, one of the largest crypto exchanges in India, became the latest entrant to the list of beleaguered entities being probed by the agencies and tax officials like the Enforcement Directorate this week. There is no end to the troubles of cryptocurrency exchanges operating in India as they continue to face the scrutinyof central government agencies and tax investigators.
Ashish Singhal, CEO of Coinswitch, took to Twitter for the first time to allay the fears of investors and the crypto community after the searches at Coinswitch Kuber pertaining to its money laundering inestigation into the instant micro loan app scam this week.
Coinswitch has more than 18 million registered users and is valued at $1.9 billion. It is backed by Tiger Global, Andreessen Horowitz, and Coinbase Ventures. Coinswitch is the third exchange after Flipvolt and WazirX (the Indian arm of crypto exchange Vauld) to be probed by the central agency, which is investigating at least 10 cryptocurrency exchanges for laundering more than Rs 1,000 crore.
The money has been recognized as proceeds of crime of the firms accused under investigation in the instant loan app case and almost all of them have a link to China.
The probe has discovered instances of the accused firms approaching the exchanges to purchase crypto coins for more than Rs. 100 crore and crypto coins being transferred to international wallets. Further, these exchanges did not carry any enhanced due diligence and even failed to present suspicious transaction reports (STRs).
On further probe in the money laundering probe, the Enforcement Directorate allegedly recovered over Rs 800 crore proceeds of crime against 365 fintechs and their non-banking financial companies (NBFCs) partners.
Elon Musk has announced that Tesla’s electric vehicles (EVs) will use Starlink’s new cellular broadcasting satellites to connect with T-Mobile users in the United States.
Musk took to Twitter after T-Mobile and Starlink announced the partnership. He also clarified that this would work even with Tesla’s EVs with the AT&T LTE network. This will potentially be used for other operators as well.
Musk revealed that the connection would provide satellite to cellular coverage from Starlink that will provide a 2-4 Mbps link shared by everyone in the satellite coverage area.
This means the speeds would not be fast enough for streaming 4k content or enjoying some of the premium features of the Tesla EVs, like live streaming video from the car’s cameras. Experts say this implementation could work similarly to MVNO like Google Fi, which works via many other carriers.
Tesla always has come with connectivity packages, but its sales have grown, and Musk has scaled back the packages. Teslas purchased before June of 2018 had a premium connectivity package at no additional cost. But the latest cars bought after July 20, 2022, come only with the standard connectivity package along with navigation and in-car maps at best.
The reason could be that as AT&T has shut down its 3G network, and old cars that do not have an LTE modem could be required to do a $200 upgrade to stay connected. This would apply to cars that were sold before 2015.
BITS Pilani has announced the launch of a new master’s degree program, MTech in artificial intelligence and machine learning, designed to equip working professionals with theoretical and practical knowledge of cutting-edge ML and AI methods such as reinforcement learning and deep learning.
The Work Integrated Learning Programmes (WILP) department announced the launch of a four-semester program concluding with a doctorate that will provide participants with a wide variety of skills helpful in advancing their careers as AI and ML scientists.
Using tools and technologies such as OpenCV for computer vision, Tensorflow for Deep Learning, NLTK for natural language processing, and Python libraries, the course will examine the practical applications of AI in fields like computer vision, natural language processing (NLP), robotics, and cyber security.
Professor Anita Ramachandran is the head of BITS Pilani’s WILP’s computer science and information system group. She emphasized the importance of the course by saying that its electives and subjects are meant to aid in the comprehensive development of skills and knowledge. It is also meant to familiarise ML engineers with algorithms like supervised, unsupervised, and reinforcement learning, along with application areas like natural language processing (NLP), computer vision (CV), robotics (robotics), and cyber security.
This course also includes weekend online lectures taught by BITS Pilani professors. The course application deadline is September 12, 2022. As noted by Professor Ramachandran, this curriculum will also aid engineers in comprehending the moral dilemmas inherent in using AI and ML. In 2020, the worldwide artificial intelligence industry was estimated to be worth USD 65.48 billion and that figure is expected to rise to USD 1581.7 billion by 2030.
To offer more value to its retail investors and make it more affordable, Tesla has split its stock for the second time in the span of two years. The 3:1 stock split means each stockholder of record on August 17, 2022, will receive two more shares of common stock for each previously held share. This kicked in after closing the trade on August 24.
This stock split was approved by the Tesla board of directors and the shareholders during the company’s 2022 Annual Meeting on August 4. The Giga factory in Shanghai crossed a milestone recently as the millionth car rolled out from the factory on August 14 and took Tesla’s total number of cars to over 3 million.
In 2020, the company decided to split its stock on a 5:1 basis and breached the $1 trillion in market capitalization in 2021. However, the counter’s market capitalization currently stands north of $300 billion.
This stock split is not unique to Tesla. It follows a trend of high-value stocks splitting to diversify the investor base and offer more value to retail investors. Several other entities, like Google’s parent firm Alphabet and Amazon, recently went through a share split.
The share price dipped below the $300 level in early US trade on Thursday morning as the share split kicked in. For retail investors, the share split does not affect the stock’s fundamentals. Based on analysts’ offerings, the 12-month price target is around the $314 level.
Incidentally, Tesla shares debuted at $17 in 2010 and rose to more than $1,200 after the stock split in 2020. However, the stock has fallen over 16 percent in the last year as concerns about the US rate hike and geopolitical tension continue to worry investors.
US EV giant Tesla has launched a new cloud-based ‘Profiles’ feature, making it easier for drivers to switch between multiple versions of the company’s EVs frequently. The feature is being added to the Tesla vehicles with the latest over-the-air software update and will memorize vehicle settings. These will then be synchronized when the profile owner gets behind the wheel of another Tesla.
The technology is being introduced, bearing in mind the households that own multiple Tesla vehicles, businesses with multiple Tesla models on their fleets, and anyone renting one of the company’s EVs. For example, last year, rental company Hertz announced the purchase of 100,000 Teslas, starting with the Model 3, and later expanding the fleet to include the model Y SUV.
The Tesla profiles feature can synchronize various features such as mirrors, seat and steering wheel adjustments, autopilot, driving and climate control preferences, navigation, media, and data-sharing settings.
Other updates to Tesla vehicles along with the cloud-profile feature include the ability to choose the position of the blind-spot camera display, uninstall video games to free space on the EV’s hard drive, and disable Sentry Mode noises, among others, as reported by Electrek. The rear passenger climate controls can also be set to automatic.
On the other hand, Tesla drivers who have signed up for the company’s FSD (Full Self-Driving) Beta program are looking forward to getting access to their own software updates. The rollout for FSD beta 10.69 will involve many code changes, but Tesla has confirmed it will be available to everyone by the end of 2022. The carmaker is also increasing the price of the FSD package from $12,000 to $15,000 for any car purchased after September 5.
Instagram is a popular social media platform that doubles up as an effective marketing space for brands and businesses. Video advertising on Instagram has helped many small businesses and brands to grow and amplify their visibility. Instagram creates opportunities for businesses to reach out to their target audience and fulfill their marketing goals.
Instagram has over 1 billion active monthly accounts. It is a visual platform that attracts and engages the audience with aesthetic photos and well-curated videos. With new tools and in-built features, Instagram allows users to advertise their business through short and long-form video content. Most brands are flocking toward using Instagram video marketing to create higher engagement with customers.
Instagram Marketing and its Benefit for the Businesses
Videos are becoming increasingly popular as they visually represent a business. The Instagram algorithm is one of the promising reasons for businesses to adopt video marketing. The latest algorithm of Instagram supports video content more than a static image. Here are a few reasons to opt for video marketing on Instagram.
Increase brand awareness and visibility
Engagement on Instagram is on the higher side and is a determining factor for enhancing brand discovery. Instagram’s built-in tools help create videos and reels to attract viewers’ attention. The short-form reels relay information and educates or entertain the viewers with the content. Videos are visually appealing, which makes their views and visibility higher. Here are some videos on Instagram that make a brand more discoverable.
Videos show a glimpse of a product or new service while keeping the mystery element intact.
DIY videos or reels that concise the message or information in a few seconds
Tell an emotion-evoking story about the brand, real people, or sourcing
Record behind the scene like packaging, production, and how packages are shipped
Entertaining videos that are fun and make the audience happy
As per the Algorithm of Instagram, videos are optimized for higher reach. An effective way to leverage and improve brand awareness is to post videos with a catchy and creative thumbnail, use relevant hashtags, and add trending music.
Ease of creating videos for Instagram
There are various formats of video for uploading on Instagram. Each category of video has its relevance. With the in-built tools, it has become easy to trim and edit the video using the app. Online video editors have templates for creating Instagram-centric videos. The Instagram story makerallows you to choose from thousands of in-built templates and customize the video. Here are versatile forms of videos for uploading on Instagram.
Reels are short-form, vertical videos of up to 60 seconds. It is one of the most trending forms of video on Instagram, allowing brands to use their creativity and give the audience a visual experience.
Instagram ad videos are perfect for a highly targeted audience. It helps in promoting a business or brand at an affordable cost. Brands use story ads, reels ads, and in-feed post ads to maximize their reach.
Long videos are perfect for answering Q&A, product demos, or simply explaining a particular service or product. It is beneficial for spreading awareness and educating people about a brand.
Instagram stories create a sense of urgency as the stories disappear after 24 hours. It is perfect for showing behind-the-scenes, real-time work, etc., about a business.
Instagram Live is another form of video content that helps connect with the audience in real time. Instagram Live is a raw and authentic way of communicating with the audience. It is an excellent platform for organizing online events, live launches, and organize Q&A.
Create better customer engagement via videos
Instagram was primarily used as a static photo-sharing app, but gradually, it has grown with time to become a marketplace. Videos on Instagram are known to create better customer engagement, and a brand’s aesthetic videos on Instagram influence the buying decision for a brand. People constantly scroll through the Instagram feed, making it a solid platform for discovering businesses. Instagram as a platform is great for showcasing the brand through creative and informative video content.
The use of intriguing video content combined with an interesting caption helps grab people’s attention. Tagging people or brands on the Instagram video and resharing the video helps in reaching new prospective customers. Geotagging in the video is another way to multiply the reach of the business.
Make a stronger purchase decision
Most purchase decisions from online brands are fueled by online reviews and how well the product or service is presented. Video presentation provides a window to showcase the product or service interestingly and interactively. Instagram video ads allow brands to target potential buyers through their feeds. Customers prefer watching videos rather than reading content to make a purchase decision. Videos help in breaking down and explaining the features of a new product.
A powerful feature of the Instagram video is embedding a CTA (call-to-action). It is a powerful feature that redirects the customers to the land page or online shopping site. The CTAs are easy to add at the bottom of the video ads, redirecting the customers to shop for the product. As CTA redirects the customers, users spend more time browsing products and services, creating a sales funnel.
Increase the rate of conversion
Instagram videos are an excellent way of lead conversion, increase sales, and hence overall revenue stream for the business. Instagram video marketing is a subtle way of converting leads instead of making hard sales. Brands create fun and educational videos that generate people’s interest in the brand. Brand collaboration with an Instagram influencer is an excellent marketing strategy for increasing conversion rates.
Brands collaborate with influencers and create branded videos that help in increasing brand awareness and amplifying the reach. As influencers create videos and tag the brands, it reaches millions of people, increasing overall sales.
Create Targeted Advertising
Instagram allows video ads, a great way to advertise the brand to the target audience. Sponsored or targeted ads with interesting, creative content reach the right demographics, improving the overall sale. It is an affordable way to continue reaching the target buyers or prospective customers. The ads are perfect for customizing the demographics like age group, location, gender, etc.
Partner and Team up with Instagram Influencers
Influencer marketing is a new form of marketing that helps people grow their reach and improve their branding. Influencers are those who have thousands to millions of followers on social media. Instagram influencers work on either barter or paid marketing campaigns for promoting a particular brand. Influencers tag and promote the brand and market it in front of a large audience. It is indeed one of the fastest ways for brands to increase visibility. Work on video campaigns with influencers or ask for a shoutout in exchange for sending them free products to grow your brand.
Tips for Video Marketing Using Instagram
There are millions of videos uploaded on Instagram every single day. However, the following tips and tricks are required to increase the videos’ engagement rate. Creating a robust marketing strategy for Instagram videos is pivotal for connecting with the audience better. The changes in the Algorithm undoubtedly support video content and make it a valuable platform for brands. Here are some tips for creating impeccable video content for Instagram.
Vertical short-form content like reels is trending these days. So, create entertaining reels with trending music. Follow the latest trends for creating viral videos.
Upload Instagram videos to explain in depth a product or service. People scroll through Instagram, an excellent way to educate customers about a particular brand or product.
One of the efficient ways to make a video go viral is to use relevant hashtags with the videos. This makes the videos discoverable and helps make videos go viral.
A good way to redirect people to an online website or shopping site to increase sales is by adding CTA to the videos. A call-to-action button is a powerful way to turn the viewers into potential customers.
As a brand, always keep posting relevant Instagram stories. It helps create better engagement and reminds people of new products, services, or existing things. It acts as an incredible tool for interacting with the audience.
Preferably use an attractive thumbnail or image picture for the reels to grab the people’s attention.
Final Words
Instagram is one of the popular social media platforms with a higher engagement rate, billions of active users, and a great place for brands to connect with their target audience. Instagram marketing through videos has substantially grown small businesses into big ones. Many brands started their marketing and promotion on Instagram and became big household names. Videos are visually appealing, convey a story, influence purchase decisions, and drive organic traffic to the brand website.
Instagram videos in all forms, like reels, Instagram videos, Live videos, Stories, etc., are backed and supported by the latest Algorithm of Instagram. It is a great platform for creating and sharing innovative, entertaining, engaging, and informative content. The blog summarizes tips and benefits of adopting video marketing via Instagram.
