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How Venture Capital can use AI for growth 🚀
đź’° VC firms and LLMs, Google Chrome gets an AI upgrade, US Gov. and Big Tech partnership, and more!
Everyday AI
January 24, 2024
Outsmart The Future
Today in Everyday AI
6 minute read
🎙 Daily Podcast Episode: If you’re a VC wondering how you can keep up with companies adding AI, here’s how you can leverage LLMs to get ahead. Give it a listen.
🕵️‍♂️ Fresh Finds: An AI marketing strategy generator, Samsung’s AI watermarks easily removed, and the Doomsday Clock warns of AI threats. Read on for Fresh Finds.
đź—ž Byte Sized Daily AI News: Google Chrome gets an AI upgrade, SAP restructures jobs around AI, and NVIDIA brings supercomputers to corporations. For that and more, read on for Byte Sized News.
🚀 AI In 5: Looking to find a venture capital partner for your startup? We may have just found the perfect GPT to help. See it here
🧠Learn & Leveraging AI: Whether you’re a startup or a VC firm understanding how to leverage AI in your space is crucial to staying ahead. Here’s some tips to keep in mind. Keep reading for that!
↩️ Don’t miss out: Did you miss our last newsletter? We talked about the future of AI search, President Biden's deepfake, and gave an overview of Perplexity AI. Check it here!
How VC Firms Can Get Ahead with LLMs 🚀
The AI wave is in full effect and almost every business and startup is looking to add AI to its company.
So with companies raising money looking to add AI, how can venture capital firms make sense of it all?
By also using LLMs.
Roger Thornton, Co-Founder and Partner of Ballistic Ventures, joins us to discuss how VC firms can leverage LLMs to get ahead.
Join the conversation and ask Jordan and Roger questions on VCs and LLMs here.
Also on the pod today:
• Impact of AI on Business and Security 🛂
• Quality and Dependency on Data for AI 📊
• VCs struggle with AI 🤔
It’ll be worth your 31 minutes:
Listen on our site:
Click to listen
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Listen on:
Upcoming Everyday AI Livestreams
Thursday, January 24th at 7:30 am CST ⬇️
Here’s our favorite AI finds from across the web:
New AI Tool Spotlight – M1-Project is an AI marketing strategy generator, AdCreative.ai generates ad creatives, and Bliink helps promote healthier & more productive computer work.
Trending in AI – At the Davos Economic Forum, Sam Altman spoke on why AI needs to turn to nuclear power.
Big Tech - Samsung’s AI Galaxy phones will have watermarks for AI content, but apparently they’re easy to remove.
AI in Society – The Doomsday Clock is warning of existential threats due to AI.
Read This – This UK cybersecurity agency is worried that AI will make email scams look legit.
1. Google Chrome Gets an AI Upgrade 🧑‍💻️
Google Chrome is about to get a whole lot smarter with its latest infusion of AI technology. The upcoming release will introduce three new AI-powered features for Chrome on Mac and Windows: tab organization, custom themes, and a writing assistant that can help you with anything.
2. Big Tech and US Government Partner for AI Research 🤝
The National Science Foundation (NSF) has teamed up with major tech players like Amazon, IBM, Microsoft, and Nvidia to launch the National Artificial Intelligence Research Resource (NAIRR) pilot program. This powerhouse collaboration aims to create a national AI resource for researchers and educators, ensuring the US remains at the forefront of AI innovation. With federal agencies like DARPA and NASA also on board, this initiative will provide access to high-powered AI technologies.
3. SAP Invests in AI and Restructures Jobs đź’Ľ
German software giant SAP has announced plans to spend a whopping 2 billion euros on a program that will retrain employees in AI skills and replace voluntary redundancy programs. This move comes as SAP expects its cloud revenue to increase by 24%-27% by 2024. But that's not all – they're also restructuring 8,000 jobs to focus on AI-driven business areas.
4. Google Releases Lumiere: AI Video Generator 🎥
Google has just dropped Lumiere. This extraordinary new space-time diffusion model can transform your still images into stunningly realistic video clips up to five seconds long. Lumiere's "inpainting" feature can automatically fill in any unwanted parts of your videos, making unwanted elements vanish like magic.
5. Equinix and Nvidia Bring Supercomputers to Corporations 🦸
Equinix and Nvidia are teaming up to offer corporate clients the opportunity to own their own artificial intelligence computing systems, providing better data control and privacy. This partnership allows businesses to bypass renting Nvidia's powerful chips from cloud computing giants like Amazon and Microsoft. With concerns over privacy and security on the rise, many companies are eager to have their own AI systems.
6. Google Severs Ties with AI Data Firm Appen ✂️
Google’s parent company Alphabet has terminated its contract with Appen, an AI data firm that helped train Google’s chatbot Bard and provided AI products for tech giants like Microsoft, Apple, Meta, and Amazon. This decision will have a significant impact on at least two thousand subcontracted Alphabet workers, leading to concerns about job security and the future of AI training.
A GPT For VC Matchmaking
Can a GPT help your startup’s next funding round?
We found this GPT called VC Matchmaker and decided to test it out.
Is it actually useful? Let’s find out!
Check out today's AI in 5.
🦾How You Can Leverage:
If you’re working in Venture Capital, you might be sick of hearing about AI.
Now, everyone and their grandma is trying to sprinkle just enough AI into their product or service. Or, their startup looking to VCs for funding.
So, what’s a VC firm to do?
Leverage LLMs, of course.
Roger Thornton joined us today to talk just that, offering insights into how venture firms (and startups!) can better leverage large language models.
Roger is the Co-Founder of Ballistic Ventures, a VC firm that invests in cyber security companies.
Roger shared with us not only how VC firms can leverage LLMs to get ahead, but also how Generative AI is shaking up the venture capital scene.
(And a ton more.)
Here’s our biggest takeaways 👇
1 – LLMs can streamline vetting ✅️
If startups are using AI to pitch VCs left and right, why shouldn’t Venture firms be able to use LLMs to vet the companies?
When talking cybersecurity, Roger talked about how both sides (the good guys protecting from cyber attacks and the bad guys launching the attacks) benefit from AI.
The same can be said for the startup and VC relationship.
Roger said that LLMs, when used responsibly and with data confidentiality in mind, can help decision makers more quickly vet the swath of startups looking for funding.
Try this:
Wanna dig in a bit deeper on how startups and VCs can best use AI to their advantage? Here’s a great article looking at it from all angles.
Also, wanna know what’s gonna happen with all these AI startups? We’ve got hot takes. Even though it’s Wednesday.
2 – GenAI can help simplify 👍
Roger had our host Jordan chuckling on this one.
Why do we all automatically think of GenAI as a tool that helps us create more?
More words.
More stories.
More paragraphs.
More…. More?
Roger called this one out brilliantly — VCs should be using LLMs to focus on less and boil down all of the fluff to just the core concepts that matter.
In the end, being concise is sometimes more important than being … more.
Try this:
Here’s a great list of AI tools that can actually help you make your pitches, presentation and writing more concise.
3 – Better data = better outcomes 📊
Bad data, bad outcomes.
Good data, good outcomes.
Roger highlighted the importance of improving datasets when using large language models, especially if you’re looking to leverage it while vetting companies.
If you bring your own data into a LLM, make sure it’s accurate, precise, and that your LLM of choice is properly digesting it.
Try this:
Even ChatGPT is pretty good at crunching data if you use it correctly.
We take you through how to tag-team an LLM and crunch data like a 6-figure consultant.
⌚
Numbers to watch
1.52 Trillion
NVIDIA stock prices reach all time high (619 USD) as Market Cap reaches over $1.5 trillion.
Now This …
Here’s a hot take!
Vote to see live results
Startups will need AI to succeed |
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