Goldman Sachs questions AI's financial gains amid high costs and Nvidia's monopoly

AI has a lot of fans in business. But does it actually make money?

Goldman Sachs released a report titled 'Gen AI: Too Much Spend, Too Little Benefit?' which challenges the financial benefits of AI, citing high technology costs and Nvidia's processor price monopoly as hindrances to profitability. Despite this, PriceWaterhouseCoopers forecasts AI could contribute up to $15.7 trillion to the global economy by 2030.

Wokelo AI

GenAI accelerates knowledge transfer and productivity in organizations

Three Ways Generative AI Can Accelerate Knowledge Transfer Across An Organization

GenAI technologies are shown to enhance knowledge transfer and productivity across organizations by processing unstructured data, turning it into actionable insights for new employees. This can help bridge the skills gap and improve decision-making capabilities, as highlighted by a Harris poll by CareerBuilder, which indicates that companies lacking structured onboarding can experience reduced productivity and increased inefficiencies.

Mila Institute Uses AI to Visualize Climate Change Impact

Happy AI Appreciation Day! (Yes, That’s A Thing.)

The Mila Institute is employing generative AI to create visual representations of the potential effects of climate change at any given address worldwide, providing a powerful tool for understanding and addressing environmental challenges.

Apple Enhances Accessibility with AI-Generated Podcast Transcriptions

Apple has started automatically generating transcriptions for podcasts, improving accessibility for individuals with hearing impairments and cognitive disabilities, showcasing the practical applications of AI in enhancing user experience.

AI and Robotics Revolutionize Farming Efficiency

Farms are leveraging AI and robotics to significantly reduce herbicide usage by up to 90% and decrease water consumption by over 40%, demonstrating the transformative impact of AI on agricultural sustainability.

Forrester's Q2 AI Pulse Survey Highlights Positive Impact of AI

Forrester's Q2 AI Pulse Survey for 2024 indicates that AI adoption has led to significant improvements for businesses, with 42% reporting better customer experience, 40% noting increased employee productivity, and 34% experiencing revenue growth.

Iwill Therapy Utilizes Microsoft for Localized AI Therapy

Iwill Therapy in India has partnered with Microsoft to offer AI-based cognitive behavioral therapy through chatbots, providing mental health support in local languages, thus broadening access to mental health services.

Cedars-Sinai Launches AI-Powered Chatbot for Immersive Therapy

Cedars-Sinai has introduced the eXtended-Reality Artificially Intelligent Ally chatbot, designed to provide conversational therapy in virtual reality environments, marking a significant step in the integration of AI in mental health care.

OpenAI Faces Whistleblower Allegations Over Restrictive Policies

OpenAI Whistleblowers: Employees Can't Talk to Regulators

Whistleblowers have alleged that OpenAI prevented employees from communicating with regulators about AI risks, potentially violating federal law. This comes amid concerns over restrictive employment agreements. Despite claims, OpenAI maintains that its whistleblower policy safeguards employees' rights to disclose protected information. The controversy has led to the resignation of AI researcher Jan Leike and policy researcher Gretchen Krueger, who expressed worries about the company's focus on product development over safety. Ilya Sutskever, a co-founder and former chief scientist of OpenAI, has since established Safe Superintelligence, a new AI company with a focus on safety and devoid of commercial interests.

China Surges Ahead in Generative AI Patents

OpenAI cuts off access to users in China, Hong Kong and Macau

China has taken the lead in the global race for generative AI patents, with over 38,200 patents filed in the past decade, significantly outpacing the United States. This highlights China's commitment to AI innovation and development.

Wokelo AI is a secure Generative AI platform for accelerated business research, providing customized in-depth analyses for market intelligence and investment research. It reimagines the future of work by unlocking human-like syntheses at scale, leveraging state-of-the-art LLM models and proprietary technology to uncover rich insights.

Wokelo is a secure Gen-AI platform for accelerated business research. It helps create customized in-depth analysis for market intelligence and investment research. 

Wokelo is reimagining the future of work by unlocking human-like syntheses at scale. It utilizes state-of-the-art LLM models and proprietary technology to uncover rich insights. Wokelo is being leveraged by Private Equity, Investment Banks, Corporate Strategy and Venture capital professionals.

Register for early access at our website.

The VC Tech Stack (via Synaptic)

CRM & Dealflow: 
• Edda
• Attio
• Affinity.co
• Copper
• Salesforce

Sourcing & Screening: 
• Synaptic
• Harmonic
• Sourcescrub
• Grata
• PitchBook
• Wokelo AI
• Deckmatch

Portfolio Management: 
• Synaptic
• Standard Metrics
• VESTBERRY

Fund Admin & Reporting: 
• AngelList
• Carta 
• Tactyc
• TotemVC
• Juniper Square
• The Citco Group Limited
• #iLEVEL S&P Global

Job Boards & Product Portals: 
• Consider
• Getro
• GetProven
• Builtfirst

Network & Community Management: 
• Bridge your network
• #PinchedIO
• MeltingSpot

Excited to share some interesting companies I've come across in the AI space!💡

I’ve been looking into ways to simplify building complex Excel models. Curious if you used any of these AI Excel Assistants during your PE or IB days?  

📌 Formula Bot 
📌 Ajelix AI
📌 Lumelixr AI

If you’re in the midst of job hunting, check out Jobscan:

📌 Jobscan - simply provide a link to the job description and your resume/cover letter.  It'll then tell you what Applicant Tracking Systems (ATS) a company is using, missing keywords, formatting to change, and other ways to improve your resume. Founded by James Hu in 2014.

Thinking of building your internal AI model? Explore:

📌 Obviously AI - a no-code AI tool that allows you to build and deploy predictive models in minutes. I recently talked to a company that was able to build a custom model to analyze their customers, churn numbers, average close time, and customer accounts. An intriguing category where you can leverage AI internally for insightful data analysis. Founded by Nirman Dave in 2020.

And now, my absolute favorite tool:

📌 Wokelo AI - Wokelo provides investment research, intelligence on public and private companies, deep insights across various industries, and more.  I’ve been using Wokelo, and it’s like having a person AI analyst capable of collecting company data, aggregating information, and crafting detailed reports. Founded by Siddhant Masson and Saswat Nanda.

🎯P.S.: Opportunities in AI - Attached a screenshot from our LP Deck highlighting opportunities for early-stage and pre-seed investors in LLM and AI.  Thank you, Yohei Nakajima and Jessica Jackley.

Thrilled to share Wokelo AI was featured in Benzinga by Renato Leonard Capelj 

Our founders Siddhant Masson and Saswat Nanda highlight our focus on reducing grunt work and engaging more in critical thinking and problem-solving in due diligence and investment research

We are excited to delve deeper into Gen-AI powered SaaS solutions, transforming the future of work. 

Read the entire article here - https://lnkd.in/dE5sui8y

📣 Check out our recent fundraise annoucement! 🚀🚀

AI:WOKELO

Wokelo AI

Analysis Not Available