Your weekly briefing on all things AI

This week, the news around Reddit & Google’s partnership inspired some thoughts on Big Data and it’s oil-like quality for the AI engines being built around the world. Some highlights to note this week:

• Reddit is selling their data to Google at a premium $60M/year.

• “Big Data” is projected to be a huge market, but most businesses hardly trust the data they have internally.

• OpenAI competitors in China raised $1B.

• Some useful content creation tools at the end.👍

📰 AI in the News

Reddit's Data: An Oilfield for AI

The value of data is becoming increasingly clear. Reddit, known for its diverse online communities, recently revealed they've secured over $203 million by licensing their data to AI companies. Google has also confirmed that they are recent customers with a $60 million annual training data deal. This significant revenue stream underscores the financial power of information in the digital age.

What makes Reddit's data so valuable? Unlike other platforms, Reddit's content is continuously ranked by users through upvotes and downvotes. This built-in filtering process creates high-quality training data for AI models, making it highly desired by developers. This trend extends beyond Reddit, with tech giants like Meta and X exploring ways to monetize their data as well. As the demand for superior training data grows, expect to see similar deals become even more prevalent. (Full Story) 

Big Data Market Projected to be $400B by 2030

AI, machine learning, and data analytics are driving up the Big Data market which was already projected to hit $400B in 2030 before so many of the new developments in 2024. As technology advances, it needs data to continue unlocking relevant and actionable insights. There are 5 components to useful data known as the 5 Vs.

Even on a smaller scale, good quality data has been increasingly shown to correlate with business success. A survey conducted towards the end of last year, by Alation, found that strong data leadership corresponded with businesses meeting or exceeding revenue goals. They also found that only 18% of respondents trusted their own discoverable data.

Exploring some of these insights can gear leaders towards understanding the gaps in their data operations, and capitalize on the value already hidden in their existing data.

More Stories

• Automating AI Data Curation: Datology Solves a Major Bottleneck (link)

• Groq Chip Crushes Rivals, Making AI Chatbots Lightning-Fast (link)

• China's Impressive AI Feats Rely on American LLMs (link)

• Former Salesforce CEO Leans Into AI-Agents for Customer Service (link)

• Microsoft, Nvidia, OpenAI, and Jeff Bezos are Investing in Figure's Humanoid Robots (link)

• 10Web Brings AI Website Building to Wordpress (link)

• Chrome Browser Making AI Widely Accessible, Starting in the US (link)

• Stable Diffusion 3: Photorealistic AI Images That Solve the Text Problem (link)

• Tyler Perry Puts $800M Studio on Hold After Seeing Sora in Action (link)

• Be Kind to Your Chatbot, Here’s Why It Might Work Better (link)

• Google Opens Up its AI Models: A Game Changer for Developers (link)

• Gemini’s Image Diversity Issue May Be Resolved In Coming Weeks (link)

📈 Venture Deals

• Chinese Start-up Moonshot AI Raises $1B Funding Round Led by Alibaba and VC Hongshan Amid Strong Demand (link)

• AI Computing Firm Lambda Raises $320M in Fresh Funding (link)

• Self-Driving Startup Recogni Nabs $102M to Design AI Chip (link)

• Bioptimus Raises $35M Seed Funding to Build Biology Foundation Models (link)

• Flower Labs, Federated Learning Pioneer, Valued at $100M in Venture Capital Funding Round (link)

• Inkitt Raises Another $37M for its AI Enhanced Self-publishing Platform (link)

• Israeli Deepfake Detection Startup Raises First $16M in Seed Funding (link)

• AZmed Raises €15M in Funding to Expand AI-Powered Radiology Software (link)

• Armilla AI Closes $4.5M Seed Funding Round to Safeguard Enterprises from Risks of AI (link)

• UnityAI Secures $4M in Seed Funding to Revolutionize Hospital Flow (link)

• Cambio Secures $3M in Seed Funding to Revolutionise Debt Negotiation with AI (link)

• Levr.ai Closes $1M Seed Round for AI-Powered Loan Platform for Small Businesses (link)

💡 Industry Impacts

🏥Healthcare

AI Assisting the Elderly: A recent study reports that digital assistive technologies (DATs) significantly improve life quality for dementia patients, aiding independence and social interaction. The conductors of this study highlighted AI’s potential as “an interface that is more intuitive and natural, without demanding a high degree of dexterity.” (link)

🏠Real Estate

Automation Speeding Up the Real Estate Market: In response to the slowing real estate market in Southern California, agents are increasingly adopting AI and automation for lead generation. Techniques such as "ringless voicemails" send pre-recorded messages to potential clients' voicemails, though this practice faces legal challenges by the FCC. Additionally, AI-powered digital assistants and auto-dialing software are being used to simulate human interaction and manage calls. (link)

⚖️ Legal

Department of Justice Hires an AI Guy: Jonathan Mayer has been appointed as the first Chief Science and Technology Advisor and Chief Artificial Intelligence (AI) Officer for the U.S. Department of Justice by Attorney General Merrick B. Garland. Mayer's role will involve advising the Department on complex technical issues, including cybersecurity and AI, and helping to develop its technology capabilities (link)

🛠️ Tool of the Week

Lumen5 has been out for awhile now, but I wanted to specifically highlight it’s ability to transform written content into video within minutes. Repurpose a blog post (or any written content) by pasting the url/text, and letting Lumen pull out headlines to animate and stock footage to bring your concept to life. This tool is perfect for lean content production teams that want to ride the video wave at an effective cost.

More Tools For Faster Content Creation

• Vidyo.ai is great at taking long-form video and pulling out the moments with highest virality potential.

• Repurpose.io is an easy to use platform for reformatting and publishing content to multiple social media sites.

• Tweethunter.io is a full suite for twitter marketing that helps write relevant tweets in minutes.