December 13, 2023
Google Elevates AI Game while Europe Approaches Artificial Intelligence Act
The Silicon Valley giant responsible for developing much of today’s machine learning technology is leveling up its AI game. Google has launched Gemini, a generative AI large language model that will be integrated into nearly all of the company’s products. The technology powers Google’s chatbot, Bard, a direct competitor to OpenAI’s ChatGPT. So far, performance has fallen short of ChatGPT, though an upgrade is due next year.
A global race to advance AI technology is being tempered by forthcoming regulatory pressure. Europe is on the precipice of enacting the Artificial Intelligence Act—sweeping AI regulations that will be voted on by the European Parliament early next year. Building on the recently implemented Digital Services Act, the legislation provides protections for citizens from E.U. countries and significantly penalizes companies who violate rules.
X’s Mistakes Open Opportunities for Meta’s Threads
From free speech to anxious advertisers, social media platforms are confronting seemingly endless controversies. X owner Elon Musk shocked audiences by vulgarly admonishing potential advertisers at a public forum. The platform formerly known as Twitter has significantly struggled to recover lost revenue from departed advertisers.
Meta’s Threads is seizing on X’s missteps. Recent data show the social media newcomer gaining ground by passing X in new app downloads. Threads has focused on improving user experience with new features like tagging and optimized search functionality. Both X and Meta are actively implementing AI features into platforms.
Job Cuts Continue as Changing Productivity Keeps Economy Afloat
The news industry has shed nearly 3,000 jobs in 2023, more cuts than the previous two years combined. This year also saw more than 20,000 jobs lost across the entire media sector. Digital media companies were particularly hit hard, from the closure of Buzzfeed to mass layoffs across the industry. Following steep staff cuts, Spotify’s CFO Paul Vogel is leaving the company. Seattle-based online retailer Zulily is closing down amid declines in revenue and job cuts.
Despite record tech and media layoffs, economic productivity is keeping pace in part due to emerging AI technology that’s supplanted human labor. Changing productivity is altering the business world with increasing companies considering shorter work weeks. Growing numbers of employers are relying less on college degrees and evaluating skills-based metrics for recruitment.
Sequence Summaries: AI Update, Social Snapshot, and Productivity Picture
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