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PLUS: Anthropic is raising again, the AI browser, and near future of AI

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Daily Digest #255

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PICKS

  1. LinkedIn is adding AI everywhere - New AI features to help users with job hunting, marketing, and sales. LinkedIn's Global Talent Trends report shows surging demand for AI skills. 🍿Our Summary (also below)

  2. Anthropic is in talks to raise $2B just days after Amazon's investment. Google, which acquired a roughly 10% stake in Anthropic in 2022, is also expected to participate in this new funding round. 🍿Our Summary (also below)

  3. The shape of the shadow of the near future of AI. LLMs are evolving beyond mere text-based interactions. Integrating vision and voice capabilities, not just brains, is making them more versatile and impactful. 🍿Our Summary (also below)

  4. Max, an AI feature within the Arc browser adds various productivity and navigational features. For context: the Arc browser is themed around customizing the browser to your needs. (I use it every day instead of Chrome or Safari etc) 🍿Our Summary

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TOP TOOLS
NEWS
QUICK BITES

Anthropic is in discussions with investors to raise at least $2 billion more in funding. This comes right after Amazon invested $1.25 billion in Anthropic last week.

What is going on here?

Anthropic is in talks to raise a massive new round of funding at a sky-high valuation.

What does this mean?

Many thought Amazon's huge investment would sour Anthropic's relationship with Google. Anthropic has indicated to potential investors that Google, which acquired a roughly 10% stake in Anthropic in 2022, is expected to participate in this new funding round.

With the new capital infusion, Anthropic is targeting a valuation between $20 billion to $30 billion. Based on their projected $200 million in annualized revenue by end of 2023, this would equate to revenue multiple upto 150x. For comparison, OpenAI is reportedly seeking an $80-90 billion valuation at a lower 80x multiple on $1 billion in annualized revenue.

Why should I care?

The strategic foundations of these funding rounds are weird, to say the least. Private investors are eager to join unusual corporate structures of non-profits and safety committees on top of these AI startups. Rival cloud providers like Amazon and Google are investing together. The revenue multiples are way higher than in public tech markets. The common thread? Everyone is betting big on AI.

QUICK BITES

Ethan Mollick discusses how Large Language Models (LLMs) like ChatGPT and the much-anticipated Google Gemini are evolving beyond mere text-based interactions. These models integrate vision and voice capabilities, not just brains, making them more versatile and impactful.

What is going on here?

We're at a pivotal point in AI's evolution where these models are not only becoming increasingly intelligent but also increasingly capable in tasks involving vision and voice.

What does this mean?

We’re going beyond chatbots. These multi-modal AIs have the potential to not just assist but also collaborate in a way that amplifies the human working with them. For example, they can improve remote work by better interpreting emotional cues during video calls or fine-tune online educational platforms according to individual learning paces.

The changes these AIs could bring aren't restricted to one area. They have applications across sectors like healthcare, education, and transportation. The phrase "jack of all trades, master of none" might soon be obsolete. The future LLMs could be both—jacks of all trades and masters at them.

Why should I care?

AI’s new multi-modal capabilities mean they can fit into niches we haven't even considered yet. These AIs are now able do many of your tasks that need data analysis, creativity, or problem-solving, while being really good at them. If you are in these jobs, you need to evolve with AI. Keeping the job aspect aside, the ethical implications are also huge. While Google and OpenAI have placed some ethical guardrails, loopholes exist.

QUICK BITES

LinkedIn is rolling out new AI features to help users with job hunting, marketing, and sales, tapping into Microsoft and OpenAI's tech. The announcement coincides with LinkedIn's Global Talent Trends report showing surging demand for AI skills.

What is going on here?

LinkedIn is launching AI-powered tools for recruiting, learning, marketing and sales.

What does this mean?

The new Recruiter 2024 tool uses AI to generate better job candidate searches. AI will enhance marketing campaigns within LinkedIn under the name Accelerate. Salespeople also get access to AI-assisted searching and account research.

The LinkedIn Learning Coach is designed to give course recommendations with personalised tips. Initially focused on soft skills, LinkedIn plans to expand this functionality to other courses over time.

Why should I care?

While AI has assisted LinkedIn behind the scenes for years, these public-facing tools can directly help you do your job better and faster. Recruiter AI may surface candidates you'd have missed, the learning coach could supplement your knowledge, marketing Accelerate could automate repetitive tasks, and sales search could find more prospects.

LinkedIn has used AI for years to suggest connections, analyze trends and provide insights. But now AI has become mainstream, thanks to tools like ChatGPT. So LinkedIn is tapping OpenAI and Microsoft AI, since Microsoft owns both LinkedIn and a stake in OpenAI.

Ben’s Bites Insights

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