By AI Guy ⏳ 5 min read

Hey y’all! This is AI Guy. The daily newsletter that sends you 1-2 interesting stories about AI straight to your inbox.

In Today’s edition:

♾ Mark Zuckerberg: AI will be built into all of Meta’s products

🇬🇧 Open AI vs Deepmind: The Battle over London

👩‍💼 CFOs more worried than tech executives about AI

📈 Stock picks in the ‘Age of AI’

🔧 The only AI tool for creatives you will ever need

💡 Bonus Tip

👨‍🎨 AI art I thought was cool

Mark Zuckerberg: AI will be built into all of Meta’s products ♾

In an internal company meeting, Mark Zuckerberg revealed Meta's exciting new investment in AI to take their products to the next level. Zuckerberg said he would integrate AI into "every single one" of Meta's products.

Meta is introducing chatbots built into Facebook Messenger and Whatsapp that can chat with different personas. Meta will also allow users to type prompts into Instagram to automatically edit a user’s posts.

It seems like Meta has been getting some flak from investors who thought they were too focused on building the metaverse and slacking in the AI department. Meta hasn't released a single user-facing generative AI product yet - in other words - they’ve been slacking.

But finally, they’re joining the party.

OpenAI to open its first international office in London 🇬🇧

OpenAI, the Microsoft-backed AI giant, is ready for a London showdown with DeepMind by setting up its first international office across the pond. This will place the two firms head to head in AI innovation both inside and outside the US.

This new branch will become a hub of research, engineering, and collaboration. With over 1,300 AI firms and loads of venture funding, it's the place to be for all things artificial intelligence.

OpenAI will be able to access more foreign talent by being based in the UK because of the High Potential Visa program. The program allows anyone to move to the UK without sponsorship if they graduate from a world top 50 university.

Tech companies like OpenAI are also playing a strategic game of chess by moving to the UK because they are able to lobby for light-touch AI regulation outside the boundaries of the EU.

OpenAI's CEO, Sam Altman, has even suggested that OpenAI may completely exit the EU if unable to comply with the new AI Act, in which case the UK would be their only European base of operations.

CFOs are more worried than tech executives about AI jobs losses 🙅‍♀️

Will artificial intelligence be a job creator or a job destroyer?

According to a SurveyMonkey Workforce Survey, only about a quarter of workers have concerns about AI making their jobs obsolete. However, there is a big split among the top-dog decision-makers.

Finance executives seem to lean towards AI being a job destroyer, with 41% of CFOs believing so, while an equal percentage thinks it's too soon to tell. Tech execs disagree with that categorization. In a CNBC Technology Executive Council survey, nearly half of senior tech officials in the US (47%) said they believe AI will create more jobs than it destroys.

CFOs are also slow to invest in AI. While 32% say their investments in AI are accelerating, 18% are planning no new AI investments. However, tech executives are all about AI, with almost half of them prioritizing AI spending over the next year.

Stock picks in the 'Age of AI'👨‍💻

AI stocks have boomed since the release of Chat-GPT and the hype around generative AI. Jefferies Equity Research went so far as to call this ‘the age of AI’ in a recent report.

AI stocks led the stock market in the first half of the year, with chipmaker Nvidia reaching a $1 trillion market capitalization in May. Currently Nvidia stock is up 196% since Jan 1st.

Intel and Microsoft have also skyrocketed this year, with gains of 25% and 39%, respectively.

Jefferies also highlighted companies that will indirectly benefit from AI innovation. Oil producer Chevron will utilize AI to “optimize exploration, designs, production and recovery rates” according to the report.

Here is a summary of Jefferies' picks right now.

Jefferies Picks:

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Thanks for reading! Stay AI-some!

See ya Monday,

AI Guy

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