The recent explosion of generative AI has influenced nearly every aspect of business. Also, the technological revolution has gained the attention of the world giants, with eBay introducing new, generative AI-powered features.
Also, this month has brought new features in ChatGPT and StackOverflow, followed by some interesting research and attempts to tackle legal issues with generative AI using some innovative solutions.
eBay uses GenAI to boost customer experience
With the help of AI and computer vision technologies, eBay, the venerable veteran of global e-commerce, aims to deliver a more personalized and targeted shopping experience. The company finds its competitive advantage in nearly two decades of data collection – after all, the company was founded in 1995 as AuctonWeb.
The company has shared that Generative AI will be used to address the “cold start problem” – a situation when newly added items on the site lack the integrations that will drive traffic and bring shoppers’ attention to them.
More about the system and eBay’s plans to utilize the new tech to boost business can be found in Venture Beat’s text.
Anthropic unveils Claude 2, a model competing with ChatGPT
Anthropic, a company competitive with OpenAI and founded by their former researchers, has announced the publication of a new version of their LLM assistant named Claude. The model performs significantly better with the ability to generate responses of up to 4000 tokens, compared to the 512 of the previous version.
The model also has better coding, logic, and math capabilities than its predecessor. Also, the company has ensured that the model generates more harmless responses as a way to limit its usage in a harmful or political way.
More about the model can be found in this Forbes publication.
Shutterstock tackles the legal issues of using AI.
The matter of the legality and copyright of the data used to train generative models is shady ground, with some serious business repercussions arising from them. For example, Valve has recently decided to ban games that were created using AI due to copyright doubts.
To mitigate this risk, Shutterstock has launched the service of indemnification for the licensing and use of AI-generated images provided by the company. The service aims to ensure that there will be no claims from copyright owners on the company for using their images.
More about the service can be found in the company’s statement.
Custom instructions for ChatGPT
Writing a good (or sometimes an awesome) prompt for chatGPT is an art in itself. Companies are struggling to find individuals skilled in writing prompts as much as they struggle to use the full power of generative AI in their business.
Also, regular users of ChatGPT witness that the machine needs constant supervision to stick to instructions, sometimes requiring the user to repeat some parts of a prompt multiple times.
To avoid this, OpenAI has introduced custom instructions – basically the conditions and instructions the model needs to follow throughout the conversation and the ability to “remember” them. This makes delivering predictable and trustworthy results with ChatGPT a much easier task.
More about the new feature can be found on the OpenAI website.
More than 70% of companies are experimenting with generative AI, yet the majority are unwilling to spend money on it
With ChatGPT being a free (or freemium, considering the offer of ChatGPT Plus) service, it is unsurprising that the majority of companies are experimenting with the technology. Yet, despite the ongoing experimentation, only 18.2% are willing to spend money on these solutions. A number that is also using generative AI-based solutions on a daily basis.
According to the survey, organizations face challenges with limited GenAI talent pools or resources to adopt genAI (36.4%) or insufficient support from management and stakeholders (18.2%).
More about the report can be found on VentureBeat.
OverflowAI brings GenAI power to StackOverflow
StackOverflow is a service that can be described as a giant internet forum where less experienced developers can ask the community for help and the community delivers responses. The challenge was always to find the right answer or ensure that the problem has never been solved before.
To support users with browsing the content of the service, StackOverflow has come up with a genAI-powered assistant that searches the database for the best-fitting response. Also, the chatbot may be more kind and forgiving toward less experienced users.
More about the technology can be found in the StackOverflow blog.
UBS predicts a 61% CAGR for AI demand between 2022 and 2027
The investment bank highlights that the technology is clearly not a bubble, with clear use cases and great monetization potential. The bank predicts that the global AI demand will grow from $28 billion in 2022 to $300 billion in 2027.
According to the bank statement, companies are currently heavily investing in building infrastructure for the sake of AI solution development. This includes building training datasets and frameworks that will be further used in delivering these solutions.
More details can be found in this UBS press release.