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In today’s AI summary rundown:

1. President Joe Biden Signs Law Imposing Conditional Ban on TikTok in the US: President Joe Biden has signed a new law that bans TikTok in the United States unless its parent company, ByteDance, sells the app to a U.S. company within a year. This decision has bipartisan support, and ByteDance has up to nine months to complete the sale, with a possible three-month extension if things progress smoothly.

2. Cognition Labs Raises $175 Million, Reaching $2 Billion Valuation in Recent Funding: Cognition Labs, a young AI startup based in San Francisco, has raised $175 million in a funding round led by Founders Fund, giving it a valuation of $2 billion. The company, only six months old, has developed an AI-powered coding assistant named Devin. The new funds are expected to support further development and enhancements of its product.

3. Jack Dorsey’s Block Announces Development of Advanced Bitcoin Mining System: Block, a payment company founded by Jack Dorsey and formerly known as Square, announced the development of a new Bitcoin mining system. The company completed its advanced three-nanometer mining chip and is now working on the full design with a top semiconductor manufacturer. This step marks Block’s deeper involvement in the competitive cryptocurrency mining industry.

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Insight: Phi-3 - Compact Power in AI's New Economy Model

Imagine AI models as vehicles: while the likes of GPT-4 and Llama 3 are akin to high-powered, expensive monster trucks, Microsoft's new Phi-3 models are more like the compact, budget-friendly cars that get you where you need to go without breaking the bank. Here's a brief guide to understanding Phi-3:

• Phi-3 is available in three sizes: Mini (3.8 billion parameters), Small (7 billion parameters), and Medium (14 billion parameters).

• Notably, the Mini 3.8b model outperforms Meta's larger 7b Llama 3 in several crucial benchmarks, marking a significant achievement for its size.

• One of the standout features of the Mini model is its compactness, allowing some early adopters to even run it on their smartphones.

Smaller AI models generally mean lower costs. For those looking for effective AI capabilities without the need for high-end features, Phi-3 offers an attractive option, especially for users and businesses watching their budgets.

AI Training: Effortlessly Streamline Your Team's Documentation with Guidde's Free AI-Powered Browser Extension

Are you tired of repeatedly explaining tasks to your team? Let AI take the reins!

Introducing Guidde, a tool powered by GPT that simplifies complex instructions into clear, AI-crafted documentation in no time.

• Transform dull documentation into engaging visual tutorials.

• Craft video documentation up to 11 times quicker and save hours.

• Easily share or embed your guides anywhere your team can access them.

Just hit the capture button on our browser extension, and watch as it automatically creates detailed video guides with visuals, voice narration, and action prompts.

And the best part? Our extension is completely free. Give it a try here!

Quirky AI Tools

1. Hi Talk 🌍🗣️: Master up to 28 languages with your personal AI tutor, Hi Talk! Whether you're a beginner or brushing up on your skills, this tool adapts to your learning pace, making language mastery fun and accessible. 📚✨ Dive into interactive lessons anytime, anywhere, and watch your fluency soar!

2. Fireflies AI 📝🔍: Transform how you handle meetings with Fireflies AI! This powerful tool transcribes, summarizes, and enables you to search through your meeting notes and voice conversations with ease. 🎙️💡 Stay on top of every discussion and never miss a crucial detail again with Fireflies AI at your side!

3. Osum 🚀📈: Unleash the power of deep market research instantly with Osum! Just enter any product or business, and get comprehensive insights in seconds. 📊🛒 Try Osum now for a supercharged market analysis!

4. Brevian 🧠🛠️: Create your own custom AI agents effortlessly with Brevian! No coding is needed—just define your needs, and let Brevian’s intuitive platform do the rest. 🖥️🚀 Delegate tasks, streamline operations, and boost your productivity with AI agents tailored to your business demands.

5. Fotor 📸✨: Elevate your photos with Fotor, the ultimate AI-powered photo editor! Increase resolution, sharpen images, and remove backgrounds with precision. 🖼️🔧 Whether enhancing old photos or perfecting new shots, Fotor makes professional editing simple and effective. Transform your visuals and bring your creative vision to life!
   

Trending AI Startups

1. FlowFinitee 🚀📱: Break free from unproductive habits with FlowFinitee, your new Silicon Valley sidekick! This innovative freemium app enhances self-awareness and optimizes your time management. 🕒💡 Dive into a clear view of your daily work patterns, safeguard your focus, and shield your well-being from distractions and time-wasters. Embrace a healthier work-life balance and unleash your full potential with FlowFinitee!

2. Sorcero 🧠🤖: Elevate your expertise with Sorcero’s Language Intelligence platform! Merging cutting-edge AI language models with specialized ontologies, Sorcero delivers exceptionally accurate tools for the life sciences and STEM fields. 🧬📊 Boost productivity by up to 1,000% in managing technical content. From Medical Affairs to Clinical Development, unlock new capabilities in handling medical guidelines, literature monitoring, and insightful analytics. Transform how knowledge experts work with Sorcero!

3. Azmed 🏥🖼️: Revolutionize radiology with Azmed! This advanced AI tool automates fracture detection in X-rays, freeing up doctors to focus on critical care. 🦴🚑 With a staggering 92% of traumatology X-rays showing no fractures, Azmed’s deep learning technology integrates seamlessly into existing workflows, enhancing efficiency without altering daily routines. Save time and improve productivity in medical diagnostics with Azmed – where technology meets healthcare.

4. August Robotics 🤖🔧: Spearhead the specialized robotics revolution with August Robotics! This visionary company is crafting a suite of robots designed to transform labor-intensive tasks across the B2B landscape. 🏭👷‍♂️ Experience the synergy of human-robot collaboration that enhances workflows, boosts efficiency, and ensures safety. August Robotics is not just building robots; they’re forging a future where technology empowers businesses and workers alike.

These startups are at the forefront of AI innovation, offering a range of services and technologies that are shaping the future of various industries.

AI-Generated Image of the Day

Prompt: A Flower, fantasy art style. It has a flat composition with huge lines, with a strong contrast between light and shadow. The painting has a surrealism style with a unique color scheme, high saturation, and bright colors that create a dreamy atmosphere.

Tip: the more specific the better

Question of the Day

Today’s Meme 

That’s a Wrap 

That’s it for today’s news in the world of AI!

If you have anything interesting to share, please reach out to us by sending us a DM on Twitter: @dthareja or email me at [email protected]

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Until next time!

Dhiraj

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