_{Welcome back for the Latest AI Drops!}

Today’s Drops:

• The Rise of Small Language Models

• Study on the state of AI in 2023

• Hottest New AI Startup! - Off/Script

• More AI Headlines

• Trending GitHub Projects

• Latest AI Tools

Read Time: 3.5 minutes

The Rise of Small Language Models-Microsoft’s releases Ocra 2

Smaller language models (SLMs), like Microsoft's Orca 2, are rising as effective alternatives to large language models (LLMs) such as ChatGPT.

Chatgpt costs way over $700,000+ per day, running on 285,000 CPU Core, 10,000 GPUs, and network connectivity of 400GBs per second per GPU server, creating a giant carbon footprint and raising concerns about the feasibility of further scaling.

On the other hand, SLMs use less memory, have lower operating costs, and can run on a broader range of devices. They also allow for greater data privacy, as users can maintain control over their datasets without relying on large organizations. 

Last week, Microsoft released Orca 2, the latest iteration of their small language model. Orca 2 challenges the conventional scale of LLMs by proving that smaller models can also harness advanced reasoning skills similar to their larger counterparts. Despite having only 7 to 13 billion parameters—a fraction of the tens or hundreds of billions typically found in LLMs—Orca 2 demonstrates an impressive ability to tackle complex tasks with a proficiency that rivals or exceeds that of models five to ten times its size. 

This suggests that the future of AI development could include a greater emphasis on smaller, more efficient language models that still deliver the powerful reasoning capabilities of their larger counterparts. Furthermore, the open-source community's contributions enhance SLMs, making them increasingly powerful and accessible. 

McKinsey's "The state of AI in 2023"

This section delves into the insights from McKinsey's "The state of AI in 2023," spotlighting the meteoric rise of generative AI as a game-changer in various industries.

Key Insights:

• Rapid Adoption: One-third of survey participants report that their organizations regularly use generative AI tools across at least one business function.

• C-Suite Engagement: Nearly a quarter of C-suite executives use generative AI tools for work, indicating a top-down interest in AI technologies.

• Strategic Importance: Generative AI has made it to the boardroom, with over one-quarter of companies discussing gen AI at the board level.

• Investment Uptick: 40% of respondents indicate their organizations will increase AI investments due to generative AI advancements.

• Focus Departments: The most common business functions using generative AI include marketing, sales, and product/service development.

• Risk Management: Less than half of the organizations address risks associated with generative AI, with inaccuracy being the most significant concern.

• Talent Shift: Demand for data and machine learning engineers is up, while the need for AI-related software engineers has declined. Prompt engineering roles are on the rise.

• Workforce Transformation: AI is reshaping workforce roles, emphasizing reskilling rather than job reduction.

The online survey was in the field April 11 to 21, 2023, and garnered responses from 1,684 participants representing the full range of regions, industries, company sizes, functional specialties, and tenures. 

Hottest AI Startup!-Off/Script

Off/Script is a new app co-founded by Jonathan Brun and Justine Massicotte, designed to democratize product creation by leveraging AI. The platform allows individuals to create and share product designs with the potential for monetization. The app facilitates the design of various products, including fashion, accessories, and electronics. Users' designs are voted on, and those with at least 100 votes may be produced, with Off/Script overseeing funding, manufacturing, and distribution. 

The app incorporates Stable Diffusion and ControlNet AI to enable the creation of detailed product mock-ups, making design accessible to all skill levels. Creators profit from sales, receiving 20% of the revenue and a $500 initial payment, and they can also opt to sell their items independently.

With 30 beta products already on sale, Off/Script aims to be a high-paying platform for creators. It has raised $7 million in funding and is taking steps to ensure the originality of designs while supporting local manufacturing. The controversy around AI-generated art is acknowledged, but Off/Script views AI as a tool for genuine creativity. The app is exclusive to the App Store for now.

Source

More Exciting AI News

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• Ten Women AI Leaders That OpenAI Should Consider For Their Board. Link

• AI can figure out sewing patterns from a single photo of clothing. Link

• What startup founders need to know about AI heading into 2024. Link

Welcome to the innovative world of GitHub projects!

Whisper by Openai is a general-purpose speech recognition model. It is trained on a large dataset of diverse audio and is also a multitasking model that can perform multilingual speech recognition, speech translation, and language identification.

GaussianEditor provides controllable, diverse, and interactive high-resolution 3D editing, needing only 2-7 minutes. Check out the video here 

Latest AI Tools

 Walles.ai is a browser personal AI assistant that empowers you to work smarter and learn faster on the web. It provides answers to your questions, summarize any web contents, enhances your writing, and extracts valuable insights from PDFs in seconds.

DrLambda-Social create slides, social posts, and videos from your sources, including documents, notion pages, youtube videos, and webpages.

OpenRep is AI-powered all-in-one SEO and social media content generator and scheduler.

Yep.so is a free, no-code landing page builder powered by AI.

Ada is an AI, Large Language Model (LLM) that writes immersive stories, with magical triumphs, illustrated with the facial features of the child. For the first time kids can be main characters in their favourite stories!