Justin's AI NewsletterThe most interesting content, news, and insights in AI each week. -- |
Hi friends, It has been another exciting week on the startup journey. Currently, our company is working with around 40 companies through our beta program. Although we haven't publicly launched yet, things are getting exciting. There is no better feeling than creating a product that people start using every day. I’ll be releasing more information soon, but we believe we are on track to create one of the most powerful AI software products for businesses. Anyways, let's talk AI... 🏗️ AI & The Future of Small TeamsOne of the most exciting trends we're likely to see in the next few years is the rise of small teams, powered by AI, achieving incredible results. Take Midjourney, for example. They're a team of just 11 employees making over $250 million in annual recurring revenue with just 11 people. Simultaneously, IBM has plans to cut 30% of its workforce as AI boosts the efficiency of their remaining employees. AI will enable businesses to do more with fewer people. I think that over the next few years, we'll see huge companies built with fewer employees than ever before. At the same time, large companies will realize they don't need as many workers to get things done. But, does that mean everyone will lose their jobs, and there won't be any jobs left for people? I think the opposite is true. This will enable far more productivity, and create incredible new opportunities. While the teams will be smaller, they’ll be just as capable as major corporations when it comes to tackling big challenges. With AI, instead of a few giant companies employing most of the workforce, we’ll have many smaller teams focusing on solving problems in niche markets and industries. By embracing AI, these small teams will genuinely address tough issues, opening up a world of possibilities for everyone involved. 🥇 ChatGPT might be the first, but it won’t be the last.
Before the iPhone, there was the Blackberry. Before Facebook, there was MySpace. I think it’s important to remember that we’re in the first inning. ChatGPT opened the world’s eyes to what’s possible with AI and LLMs, but it won’t be the end all be all. Now, I’m not saying ChatGPT is going to fail. I am saying it’s too early to tell. ChatGPT is an incredibly powerful technology, but there’s still a lot more to come. It’s easy to forget—ChatGPT came out only ~5 months ago. Let’s see where things are in a year from now... 💡 This Week's RecommendationsOpenAI CEO in "historic" move calls for regulation before Congress: OpenAI CEO Sam Altman testified before the Senate Judiciary committee, calling for regulation of generative AI and expressing concerns about its potential misuse. Altman emphasized the importance of working with companies like OpenAI to develop rules and guardrails for AI, and called for a government agency to promulgate licensing rules for certain tiers of AI systems. One of the most interesting things: Altman has 0 equity in OpenAI. Watch that clip here. Zoom announces Anthropic partnership to bring Claude chatbot to Zoom products: Zoom has announced a partnership with Anthropic to use its Claude chatbot in Zoom. This is part of Zoom's strategy to incorporate more generative AI functionality into its products, following a similar partnership with OpenAI announced in March. The company is taking an open approach to AI, allowing it to plug in different models as the industry rapidly changes. It's interesting to see Zoom partnering with multiple AI model companies, a trend that we may see more of in the future from other major companies. (OpenAI isn’t the only AI company.) The "Three-Hills" Model for evaluating GPT startups: If you've been following my content for a while, you know that I'm the founder of an AI startup. We've been working on our product for the past several months in private beta and plan to launch later this year. The following framework can be helpful when considering which AI startups will survive the "AI hype bubble". We’re all racing for “Moat Mountain”. ChatGPT app for iOS: OpenAI has recently released their iPhone app, another effort to make AI more accessible and integrated into our everyday lives. With the app, you can now talk to ChatGPT instead of having to type out all your prompts! Thanks for tuning in, Justin |
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