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Meta announces Movie Gen for making movies

Including the latest AI news of the week

October 07, 2024

Hello, AI Enthusiasts!

Welcome to FavTutor’s AI Recap! We’ve gathered all the latest and important AI developments from the past week in one place, just for you.

In Today’s Newsletter: 😀 

  • Meta, challenging OpenAI, announces new AI model

  • AI Adoption is now Faster than Internet Adoption

  • Google’s NotebookLM now supports YouTube videos

  • Google unveiled its new 'AlphaChip' chip design method

  • Hugging Face reached one million free public AI models

  • OpenAI predicts its revenue will hit $100 billion in 2029

META
🔥 Meta, challenging OpenAI, announces new AI model

Facebook owner Meta announced on Friday it had built a new AI model called Movie Gen that can create realistic-seeming video and audio clips in response to user prompts, claiming it can rival tools from leading media generation startups like OpenAI and ElevenLabs.

Insights for you:

  • Movie Gen consists of four models: a 30B video generation model, a 13B audio model, a personalized video model, and a video editing model.

  • The system can generate HD videos up to 16 seconds long from text prompts, along with synchronized audio like sound effects and background music.

  • Movie Gen also features video editing via natural text prompts and the ability to upload a reference image to create personalized videos.

  • Meta claims the model outperforms rivals like Runway Gen3, Luma Labs, and OpenAI’s Sora in human video quality and consistency evaluations.

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AI Survey
📈 AI Adoption is now Faster than Internet Adoption

A new study: The Rapid Adoption of Generative AI, states that Generative AI has a 39.5% adoption rate after two years, compared with 20% for the internet after two years and 20% for PCs after three years. Some of the biggest use cases include writing, administration tasks, translation, summarization, searching for information and even coding.

Insights for you:

  • A new survey in the US shows that GenAI technology is getting adopted faster than how the internet was adopted in its transformation time.

  • According to the survey, 28% of employees use generative AI for work, while 32% of the people use it for outside work.

  • The biggest sectors where it is adopted are Management, Business and Education.

YouTube
🔼 Google’s NotebookLM now supports YouTube videos

Google now added support for YouTube videos in its NotebookLM Tool. You can now add public YouTube URLs and audio files to your notebook for an even deeper understanding of your sources. Note that the notes you upload to NotebookLM stay private.

Insights for you:

  • Users can now also add YouTube videos to their notebooks, to allow for in-depth exploration through inline citations linked directly to the video’s transcript.

  • NotebookLM is an AI tool that turns your notes, docs or research into AI-generated podcasts, powered by Gemini 1.5.

  • There is also a new sharing feature that allows users to generate public links for Audio Overviews.

Google
🖥️ Google unveiled its new 'AlphaChip' chip design method

Google’s Alphachip is a new AI system to design computer chips. It uses reinforcement learning to create a greater chip in hours. AlphaChip has generated superhuman chip layouts used in every generation of Google’s TPU since its publication in 2020. It enables the system to learn relationships between connected components.

Insights for you:

  • Google introduced a new chip design method that uses reinforcement learning.

  • AlphaChip views chip floorplanning like a game that places one circuit component at a time on a blank grid.

  • MediaTek has adapted the system for developing the Dimensity Flagship 5G used in Samsung smartphones.

HuggingFace
😇 Hugging Face reached one million free public AI models

Clement Delangue, co-founder of Hugging Face, announced on X that Hugging Face has now reached 1 million free public AI models on their platform. Hugging Face is an open-source hub that provides access to datasets, ML models and demo apps. This shows how AI research is increasing in today’s times.

Insights for you:

  • Hugging Face now has more than 1 million AI models publicly available on their platform.

  • He also highlighted the need for specialized models for various use cases.

  • Clement also said: “Today a new repository (model, dataset or space) is created every 10 seconds on HF.”

OpenAI
🤑 OpenAI predicts its revenue will hit $100 billion in 2029

According to the New York Times, OpenAI predicts its revenue will hit $100 billion in 2029, similar to the current annual sales of Target. This will be because they are actually planning to raise the price of ChatGPT, up to $44 by 2029. The company is also planning to raise the price by 10% by the end of this year.

Insights for you:

  • The internal docs at OpenAI are hoping to reach 100 billion sales before the end of the decade.

  • While the revenue will hit $3.7 billion in 2024, it will lose $5 billion in the bottom line.

  • Pressure is increasing inside OpenAI to cut down on its losses by increasing the price of its products.