NFT Tech, GPT DAO Unite, Composite AI Market Forecast and more

Pivot 5: 5 stories. 5 minutes a day. 5 days a week.

1. NFT Tech, GPT DAO Unite

NFT Technologies Inc., an innovative company utilizing AI to create immersive, interactive digital experiences, has announced a strategic alliance with GPT DAO, a leading decentralized autonomous organization.

The partnership seeks to revolutionize the way intellectual property is made accessible to emerging AI models, ensuring solid data protection and owners' rights. The collaboration will facilitate secure data sharing, creating a mutually beneficial environment for AI models and data owners. Balancing data accessibility and protection has been a significant challenge; however, this partnership is poised to address this issue. This strategic collaboration is expected to provide Generative AI developers and researchers with access to high-quality data while guaranteeing data integrity and owners' rights. As a result, the partnership is expected to pave the way for more accurate, efficient, and ethical outcomes in the AI landscape.

Further details regarding the collaboration will be disclosed in the coming weeks.

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2. Composite AI Market Forecast

The global composite AI market, segmented into hardware, software, and services, is projected to grow significantly till 2028.

Software, a key element of composite AI, combines various AI technologies to develop advanced applications. Techniques such as conditioned monitoring, pattern recognition, data mining, and machine learning are being adopted in this industry, with data mining and machine learning expected to gain prominence. BFSI is the largest adopter of composite AI for applications like fraud detection, risk assessment, customer service, and compliance reporting. The Asia Pacific region, with countries like China, Japan, South Korea, and India leading in AI R&D, is predicted to witness the highest growth rate. The study covers key industry players such as IBM, SAS Institute, Microsoft, Google, AWS, Salesforce, among others.

A deeper analysis of this market including drivers, restraints, opportunities, and challenges is provided in the report.

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3. OpenAI Calls for Korea's Leadership

OpenAI's CEO, Sam Altman, during a meeting with South Korean President Yoon Suk Yeol, encouraged South Korea to take the lead in creating international AI standards and producing necessary technology chips.

Altman has been discussing AI's potentials and risks with lawmakers and national leaders across Europe, Israel, Jordan, Qatar, UAE, India, and South Korea. He suggested that South Korea concentrate on chip production and reduce corporate regulations to encourage AI projects, in addition to setting global standards. Rapid AI development has prompted global lawmakers to consider safety regulations. South Korea, with its new AI regulations awaiting parliamentary approval, is considered less restrictive compared to the EU.

The country, having developed its own AI foundation models, seeks to address niche markets via local tech companies like Naver, Kakao, and LG, with LG AI Research focusing on specialized technology for vertical AI.

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4. Gensyn AI Secures $43M Funding

Gensyn AI, a UK-based company, has raised $43 million in a Series A funding round led by a16z crypto.

Co-founded in 2020 by Ben Fielding and Harry Grieve, the company's mission is to develop a decentralized machine learning compute protocol. The goal is to connect all hardware capable of machine learning training work, making it available for use by engineers, researchers, and academics. One significant problem the team has addressed is ensuring that the computational tasks performed on a device have been completed accurately. Operating as a layer one proof-of-stake blockchain based on the Substrate protocol, Gensyn AI is set to offer unlimited scale and low-cost verification overhead. Other participants in the fundraising round include CoinFund, Canonical Crypto, Protocol Labs, and Eden Block.

The funding will be used to expand the team and cover production costs, including a test network launch.

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5. AI Adoption Accelerating Rapidly

Advancements in AI, including large language models (LLMs) like GPT-4 and ASR platforms like ASAPP, have accelerated, creating diverse industry opportunities.

Rapid improvements have resulted in a call for a moratorium on AI system training, but the potential benefits predict an increase in AI adoption. AI technologies will integrate into everyday company operations, reshaping the market share, product availability, and company positioning. AI and human intelligence can complement each other, providing significant business benefits. AI will influence areas from revenue forecasting to error detection. McKinsey's reports show AI adoption more than doubled between 2017 and 2022, with 70% of companies exploring generative AI. AI leaders extract value from AI, leading to better business outcomes including productivity, decision-making, customer experience, innovative product development, and enhanced employee experiences.

Thus, companies are becoming more confident in predicting their AI ROI.

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