📈 How are companies using AI?
➜ Fraud Surfaces as the #1 Use Case for AI in Finance. Banking co-operative Swift is working on AI pilots to tackle cross-border payments fraud. So far, 10 global banks have joined the initiative to analyze anonymously-shared data to sniff out potential fraud. The group includes BNY Mellon, Deutsche Bank, DNB, HSBC, Intesa Sanpaolo, and Standard Bank.
Finextra
➜ Sony Wants AI to Cut Film Costs. Despite potential conflicts with Hollywood creatives, Sony’s CEO Tony Vinciquerra aims to leverage AI to streamline film production and cut costs. Popcorn anyone?
IndieWire
➜ PwC Has Just Become OpenAI’s Biggest Customer. OpenAI signed 100,000 PwC workers to ChatGPT’s enterprise tier as the management consulting company becomes OpenAI’s first resale partner.
WSJ
➜ AI in Manufacturing. Swiss startup, EthonAI, has just raised $16.5 million. The startup promises it can train AI models for specific use cases, e.g., helping manufacturers find surface defects in products. Judging from recent VC fund rounds, AI in manufacturing seems to be less hyped and more tangible.
TechCrunch
➜ Another AI Addon on Amazon TV. AI may not know if life is like a box of chocolates, but it can recognize the source of the quote. Amazon is rolling out an AI-powered search feature to Fire TV that will enable Alexa to answer open-ended questions about TV shows and movies, e.g., users could ask Alexa to find psychological thrillers with surprise endings.
TechCrunch
➜ GPT-4 Prices Dropped ~90% in 6 Months. From $60 down to less than $8 per million tokens. It’s the new version, GPT-4o, and the batch option that made the difference. The pace is crazy; see the chart for more details.