Koo, Indian rival to Twitter, integrates ChatGPT

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March 14, 2023

Koo integrates ChatGPT — Image Credits: Koo

Koo, which is positioned as an Indian rival to Twitter, has now integrated ChatGPT in an effort to aid users in content creation. Mayank Bidawatka, a co-founder of the business, said that Koo intends to make it easier for users to create posts by integrating ChatGPT.

Koo’s co-founder added that users may now immediately access ChatGPT from within the app and utilize it for composing posts. Koo will be “the very first platform to integrate the technology with the ability to compose posts,” according to Bidawatka.

He explained, “This will motivate artists for their work. Users could query ChatGPT for the top stories in their area before adding their own commentary.”

Users of Koo have the option of using the voice command functionality of Koo or typing their commands into the ChatGPT application. Additionally, he stated that incorporating ChatGPT into the app can help raise the current 20% of platform users who actively create content.

Not all Koo users will have access to the service at once. The ChatGPT integration capability will initially be available to verified accounts before progressively being open to all users.

Grammarly announces AI writing assistant GrammarlyGo powered by ChatGPT

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Sahil Pawar

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March 14, 2023

Grammarly AI writing assistant GrammarlyGo — Image Credits: Grammarly

Grammerly recently disclosed that GrammarlyGo, a “contextually aware assistant powered by generative AI,” will be released soon. The new AI-powered assistant, similar to ChatGPT, will be able to write entirely from scratch or aid with editing already written material, whether you are working on a document or an email.

One of the most well-known writing tools, Grammarly may help you correct grammar, spelling, punctuation, and even plagiarism. It allows users to use language that is appropriate for the situation.

According to Grammarly, users may use generative AI to either type a prompt and generate new content or use it to modify existing work for tone, length, and clarity. It will be able to generate material from prompts like ChatGPT and even assist you in responding by swiftly comprehending the email context.

GrammarlyGo will provide a tailored experience by figuring out your writing style by allowing users to select their preferred voice and professional positions. The AI assistant can also assist users in creating text from pre-existing workflows, saving them time from having to make corrections and allowing them to concentrate on more important tasks.

GrammarlyGo will work with applications including Gmail, Google Documents, LinkedIn, Microsoft Word, and Medium and will be accessible on Grammarly for Windows and Mac, Grammarly for Chrome, and the Grammarly Editor. According to the business, all Grammarly Premium, Grammarly Business, Grammarly for Education, and Grammarly Free users will be able to use GrammarlyGo at some point in April.

AI startup Humane raises another $100 million

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Sahil Pawar

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March 14, 2023

AI startup Humane raises another $100 million — Image Credits: Humane

Imran Chaudhri and Bethany Bongiorno, co-founders of the AI startup Humane, have received an additional $100 million to develop what they refer to as an “integrated device and cloud services platform” for artificial intelligence.

Its most recent round of funding, a Series C, drew a long list of famous investors, including OpenAI’s CEO and co-founder Sam Altman, Kindred Ventures (which led the round), SK Networks, Tiger Global, LG Technology Ventures, Microsoft, Volvo Cars Tech Fund, and Qualcomm Ventures.

Marc Benioff, CEO of Salesforce, and other current and prior investors have contributed $230 million to Humane so far. The workforce has increased in line with this growth and presently employs 200 employees.

The Series C financing provided a chance to lure outstanding VCs and strategic partners who would like to participate in equity as the firm evolves, according to Chaudhri.

“At Humane, we’re creating a platform for devices and services that is unique; we’re expanding quickly and have been concentrating on innovation, research, and development,” he added.

Microsoft Grapples with Third Round of Layoffs

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Sahil Pawar

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March 13, 2023

A third round of layoffs at Microsoft has taken place and has affected workers in positions related to supply chain, artificial intelligence, and the internet of things (IoT). The third round is an aftermath of the 10,000 job reduction announced by Microsoft earlier this year.

According to reports, job losses occurred at different levels, functions, teams, and locations. Records show that the IT firm recently let go 689 workers in Washington state.

Microsoft notified Washington State that 617 employees had been laid off in February. The company informed California’s state government that 108 employees had been laid off in the same month.

In March, Microsoft informed Washington State that 878 employees were let go, bringing the total number of employees cut in the state to 2,184. According to a Microsoft employee, Microsoft has terminated Project Bonsai, an AI-powered automation project, and fired the staff.

The business will make changes that will result in the reduction of overall staff by 10,000 positions until the end of FY23 Q3, according to Microsoft CEO Satya Nadella’s announcement in January. Today, Microsoft employs more than 220,000 people, and about 5% of its staff was laid off.

Signature Bank Collapse Deals a Blow to the Crypto Industry

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Sahil Pawar

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March 13, 2023

Signature Bank collapse deals blow crypto industry — Image Credits: Signature Bank

Another significant blow for digital assets is the collapse of Signature Bank, a lender that had a number of cryptocurrency businesses among its clientele despite lately signaling a withdrawal from the market.

According to the US Treasury Department, the lender was shut down by New York state financial regulators on Sunday, and all depositors will have access to their money on Monday.

The closure comes shortly after Silicon Valley Bank and Silvergate Capital Corp. both failed. At one point or another, each bank was regarded as one of the US’s most crypto-friendly banking institutions.

Along with storing cryptocurrency companies’ assets, Signature and Silvergate also made it possible for clients like hedge funds and exchanges to send money quickly. These exchanges were essential for keeping the markets for digital assets liquid.

While starting to distance itself from cryptocurrency lately, Signature is still crucial to the sector. As of March 8, it had client deposits tied to cryptocurrencies worth $16.5 billion. The commercial crypto clients of Signature’s Signet payment network could make real-time payments in dollars at any time, seven days a week.

Meta Starts Work on Potential Twitter Rival

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Sahil Pawar

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March 13, 2023

Meta starts work on potential Twitter rival — Image Credits: Meta

It was announced on Friday that Meta, the company that owns Facebook, is developing a brand-new “text sharing” social media platform that could pose a threat to Twitter. Twitter has experienced layoffs, outages, and the exodus of advertisers because of a lack of content moderation after Musk‘s takeover in October.

In response to reports by Moneycontrol and Platformer, Meta said on Friday that it has already started working on the new platform. ‘We’re developing a separate, decentralized social network for sharing text updates,’ Meta said in a brief email statement.

“We think there is a need for a separate platform where creators and public personalities may communicate timely updates about their interests,” the statement continued. According to media sources,

Meta’s new app will employ technology to enable it to be compatible with the niche social network Mastodon and other platforms, enabling users to broadcast posts to individuals on other networks.

This would represent a clear departure from the way internet corporations typically operate, which keeps websites like Instagram or YouTube behind technological barriers and governed by business servers. According to Moneycontrol, Meta’s brand-new project is being evaluated with features like tappable links, user bios, verification badges, and shareable videos and pictures.

Silicon Valley Bank collapse leaves startups devastated

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Sahil Pawar

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March 13, 2023

Silicon Valley Bank collapse startups devastated — Image Credits: SVB

The shocking announcement that Silicon Valley Bank (SVB) would shut down on Friday rocked the financial community. Since the collapse of Washington Mutual more than ten years ago, the fall of the 16th largest lender in the United States is regarded as the biggest bank failure.

Almost 10,000 startups and small businesses with accounts at Silicon Valley Bank may not be able to pay their employees in the next 30 days, according to a petition sent to the US government on Sunday by Y Combinator. The collapse is expected to have an impact on about 1 lakh jobs.

One-third of the Y Combinator community businesses utilize Silicon Valley Bank as their sole bank account, according to the petition sent to US Secretary of the Treasury Janet Yellen. The petition stated that if the average small firm or startup employs 10 employees, over 100,000 jobs in the most dynamic sector of innovation in our economy would be immediately affected by furloughs, layoffs, or shutdowns.

The president and CEO of YCombinator, Garry Tan, stated earlier this week that startups might be forced to shut down or lay off employees as a result of the SVB upheaval. According to the CEO of Y Combinator, this can set startups and innovation back by almost ten years.

According to US Treasury Secretary Janet Yellen, the Biden administration will not save the closed bank but is working to assist the depositors worried about their money. Deposits up to $250,000 (about 2.04 crore) are insured by the Federal Deposit Insurance Corporation. However, most businesses and wealthy customers of the bank had accounts beyond that level.

The SVB shares experienced their largest loss since 1998 on March 9, falling 41%. Its stock fell after SVB said that it had sold all of the securities in its portfolio that were on the market for sale and revised its annual outlook to reflect a more significant fall in net interest income.

On March 10, a California regulator closed Silicon Valley Bank and named the Federal Deposit Insurance Corporation as the receiver. After falling 66% in premarket trading, the bank’s shares were halted.

Bahrain Institute of Banking and Finance announces campus in the metaverse

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Sahil Pawar

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March 11, 2023

Bahrain Institute of Banking Finance campus metaverse — Image Credits: BIBF

The opening of its campus in the metaverse was recently announced by the Bahrain Institute of Banking and Finance (BIBF). Students and professionals in the financial and business sectors can benefit from an extensive and immersive learning experience provided by this digital platform.

It will also act as a “holistic platform” for collaboration, idea generation, and innovation between students, professors, and alumni. The BIBF is the first educational institution in Bahrain to open its campus on the metaverse, entirely created and built by Bahraini experts.

The BIBF Metaverse will be launched in two stages, the first of which is already in place and focuses on setting up the BIBF infrastructure and some facilities, and the second of which launches the auditorium and classrooms where live sessions will be held.

The BIBF Metaverse is an online simulation of the BIBF building that enables users to communicate with one another in a virtual setting. Users can participate in interactive learning activities, including videos and tutorials, attend events, work together on projects, and attend events.

For students pursuing various degrees and certificates, the metaverse provides immersive learning environments, augmented reality capabilities, and digital media laboratories. Users can connect with colleagues and experts in the field, attend virtual conferences and events, and develop the skills necessary for success in the banking and finance sector with this networking and professional development platform.

GPT-4 arriving next week with video support

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Sahil Pawar

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March 10, 2023

GPT-4 arriving next week video support — Image Credits: ChatGPT

After much speculation, it appears that GPT-3’s replacement, the language model that drives the popular AI chatbot ChatGPT, will be available soon. The GPT-4 language model would be introduced the following week, according to Microsoft Germany CTO Andreas Braun.

According to Bruan, the new language model will introduce “multimodal models” to provide entirely new possibilities, such as videos. When GPT-4 is released, it may be utilized to enhance Microsoft’s Bing AI-based services and ChatGPT.

The GPT-4 filing should be confirmed by Microsoft’s global staff next week. Nonetheless, the corporation has booked a virtual talk with CEO Satya Nadella on the “Future of Work Rethinking Productivity with AI” for March 16.

On March 9 during an event focusing on “AI in focus,” Microsoft Germany CTO Braun disclosed the creation of GPT-4. Marianne Janik, the CEO of Microsoft Germany, spoke during the event about how AI is causing business disruption.

Clemens Sieber, a senior AI specialist, and Holger Kenn, a lead AI technologist for business development and emerging technologies, were also present and spoke about the application cases for GPT-4.

Starbucks introduces collectible NFTs in metaverse loyalty program

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Sahil Pawar

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March 10, 2023

A digital addition to the Starbucks Rewards loyalty programme is transitioning from a trial to a full launch. Starbucks Odyssey offers Starbucks Rewards members and employees in the United States the chance to earn and buy digital collectible NFT assets. It was first announced in September 2022 and released in beta form in December 2022.

Members of Starbucks Odyssey can participate in “journeys”—a collection of omnichannel activities—after logging in, including challenges and interactive games. Members will receive a digital collectible “journey stamp” as payment for completing journeys.

The journey stamp is an NFT (non-fungible tokens). The Starbucks Odyssey web app offers a built-in market area where Starbucks Rewards members can buy “limited-edition stamps” (NFTs). For Starbucks Odyssey members, the first set of 2,000 limited-edition stamps are now available.

The Starbucks Odyssey marketplace will offer stamps for purchase for $100 each. Also, Starbucks Odyssey programme participants will receive extra points that can be used to access the program’s premium benefits.

Each digital collectible stamp will have a point value dependent on how rare it is. Members of the marketplace can buy or sell the stamps, and ownership is verified on a blockchain. Starbucks Odyssey members will be able to access experiences that have never been made available before using bonus points from stamps, such as a virtual espresso martini-making class, one-of-a-kind products and artist collaborations, and invitations to exclusive events at Starbucks stores and coffee farms.