• Tuesday • June 25, 2024

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    Cash-strapped Stability AI raises $80 mln with new CEO and board

    Stability AI Said on Tuesday it Has Raised Funds and Appointed Industry Veteran Prem Akkaraju as its Top Boss

    New CEO Akkaraju, former chief of visual effects company Weta Digital, has also invested in the company, which makes an artificial intelligence image-generation tool that rivals those made by Google and OpenAI.

    Stability AI, which has also released AI models to generate audio and video using text prompts, named former Facebook President Sean Parker as executive board chairman of its board. Greycroft cofounder Dana Settle, General Partner of Coatue Management Colin Bryant and Akkaraju were also added to Stability AI’s board.

    The firm has raised about $80 million in funding, according to a person familiar with the matter, from a group of investors including Coatue Management, Lightspeed Venture Partners and former Google CEO Eric Schmidt.

  • Monday • June 24, 2024

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    Industry News Source

    Amazon developing AI chatbot that would compete with ChatGPT and others

    The Chatbot Service, Code-Named “Metis,” Would be Accessed via Web Browser and Powered by a New Foundational Model

    The move would add Amazon to a growing list of tech giants and startups offering new AI assistants, including Microsoft, Google, and Amazon-backed Anthropic, among several others. Amazon declined to comment in response to an inquiry from GeekWire.

    Reuters and CNBC both reported recently about Amazon’s plans to roll out a new version of its Alexa voice assistant, called “Remarkable Alexa,” including a paid tier. Business Insider reported that Metis and Remarkable Alexa use some of the same infrastructure. Analysts with Bank of America said Monday that the paid tier could generate $600 million in additional sales for Amazon, based on a 10% adoption rate of exiting Alexa active users.

  • Monday • June 24, 2024

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    Industry News Source

    Netflix Extends Microsoft Partnership To Support CTV Ads, Campaigns

    The Change Gives Advertisers the Ability to Reach Netflix Viewers Through the Microsoft Advertising Network

    The streaming company has made its inventory available to advertisers running CTV campaigns in the United States, as well as Canada, Brazil, Mexico, United Kingdom, France, Germany, Italy, Spain, and Australia.

    Netflix had approximately 269.6 million paid subscribers worldwide as of the first quarter of 2024, up from about nine million in the previous quarter, according to Statista data published in May.

    Advertisers must accept the Netflix inventory policy in their ad group settings by editing an existing campaign or when setting up a new CTV campaign in Microsoft Advertising.

  • Friday • June 21, 2024

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    Industry News Source

    Anthropic’s Claude 3.5 Sonnet beats GPT-4o in most benchmarks

    The Model Demonstrates Enhanced Capabilities in Understanding Nuance, Humor, and Complex Instructions

    Claude 3.5 Sonnet is now accessible for free on Claude.ai and the Claude iOS app, with higher rate limits for Claude Pro and Team plan subscribers. It’s also available through the Anthropic API, Amazon Bedrock, and Google Cloud’s Vertex AI. The model is priced at $3 per million input tokens and $15 per million output tokens, featuring a 200K token context window.

    Anthropic claims that Claude 3.5 Sonnet “sets new industry benchmarks for graduate-level reasoning (GPQA), undergraduate-level knowledge (MMLU), and coding proficiency (HumanEval).” The model demonstrates enhanced capabilities in understanding nuance, humour, and complex instructions, while excelling at producing high-quality content with a natural tone.

    Operating at twice the speed of Claude 3 Opus, Claude 3.5 Sonnet is well-suited for complex tasks such as context-sensitive customer support and multi-step workflow orchestration. In an internal agentic coding evaluation, it solved 64% of problems, significantly outperforming Claude 3 Opus at 38%.

  • Thursday • June 20, 2024

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    Daydream rakes in $50M seed funding to build an AI-powered search engine suited for e-commerce

    Daydream Focuses on Providing Personalized Shopping Results by Using Generative AI

    The company plans to offer up the platform in beta to consumers in the U.S. this fall, and will concentrate on the fashion vertical for the time being. It has already onboarded more than 2,000 brands, including Net-A-Porter, Altuzarra, Jimmy Choo, Doen, Alo Yoga and La DoubleJ.

    Daydream essentially lets one search for products using natural language and image recognition — think queries like “I’m going to a wedding in Costa Rica in the summer, and I need some suggestions of what to wear.” You can even upload an image of a piece of clothing and provide an additional filter with conversational language, such as “I want this in blue.”

    Forerunner Ventures and Index Ventures co-led the round, which also saw participation from Google Ventures and True Ventures. The startup did not disclose its valuation.

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  • Wednesday • June 19, 2024

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    The Verge

    Snapchat AI turns prompts into new lens

    Snapchat’s Upcoming On-Device AI Model Could Transform Your Background — and Your Clothing — in Real Time

    Snapchat offered an early look at its upcoming on-device AI model capable of transforming a user’s surroundings with augmented reality (AR). The new model will eventually let creators turn a text prompt into a custom lens — potentially opening the door for some wild looks to try on and send to friends.

    You can see how this might look in the GIF below, which shows a person’s clothing and background transforming in real-time based on the prompt “50s sci-fi film.” Users will start seeing lenses using this new model in the coming months, while creators can start making lenses with the model by the end of this year, according to TechCrunch.