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Mark Zuckerberg reveals Meta AI chatbot, his answer to ChatGPT

The new AI assistant, Meta AI will be initially available from Sept. 27 for a limited group of U.S.-based users.
Meta CEO Mark Zuckerberg…

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The new AI assistant, Meta AI will be initially available from Sept. 27 for a limited group of U.S.-based users.

Meta CEO Mark Zuckerberg has unveiled his firm's new AI-powered assistant  — Meta AI —  his answer to OpenAI’s ChatGPT, which will integrate with Instagram, Facebook, WhatsApp and eventually, its mixed reality devices.

Speaking at the Meta Connect event on Sept. 27, Zuckerberg explained that Meta AI is powered by the company’s large language model Llama 2, and has been built in partnership with Microsoft Bing to allow users access to real-time information from the internet.

“Meta AI is your basic assistant that you can talk to like a person.”

In addition to answering questions, and talking with users, the newly unveiled bot can generate images, leveraging a new image generation tool called Emu that Meta trained on 1.1 billion pieces of data, including photos and captions shared by users on Facebook and Instagram.

Zuckerberg unveiled the new Meta AI chatbot at the Connect Event. Source: Meta

Noting Meta AI’s main point of difference from competitor ChatGPT, Zuckerberg said that instead of creating a one-size-fits-all chatbot, Meta’s overarching strategy was to create different AI products for different use cases.

As an example, he showed how Meta AI would be slightly different in each of the company’s social media apps, providing an example of how it could be added to group chats on Facebook Messenger to assist with organizing travel plans.

Meta AI answering a user’s question about cocktails. Source: Meta

Zuckerberg said that Meta’s chatbots aren’t just intended to transmit helpful information. They are also designed to be conversational and entertaining.

Showing off its entertainment-focused AI products, Meta also announced a collection of chatbots based on approximately 30 celebrities, including Paris Hilton, Snoop Dogg and former NFL player Tom Brady.

Snoop Dogg as an interactive Dungeons & Dragons dungeon master chatbot. Source: Meta

According to Meta, the new AI assistant will be available from Sept. 27 for a limited group of United States-based users on Facebook Messenger, Instagram, and WhatsApp.

Meta AI will also be available for users of the company’s new smart glasses scheduled for release on Oct. 17 for U.S. users, as well as its new Quest 3 VR device.

Related: Elon Musk, Mark Zuckerberg and Sam Altman talk AI regs in Washington

The same day as Meta's Connect event, OpenAI announced its chatbot ChatGPT will no longer be limited to data before 2021. 

The updates are available immediately for Plus and Enterprise users using the GPT-4 model, according to a Sept. 27 post on X.

Before this update, ChatGPT suffered from an ever-widening gap in its knowledge base. Due to the nature of how AI models such as generative pre-trained transformers (GPT) are trained, ChatGPT’s knowledge base previously ended in 2021. Presumably the year it was finalized for production.

AI Eye: Real uses for AI in crypto, Google’s GPT-4 rival, AI edge for bad employees

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Crypto advocate Tom Emmer drops out of the running for Speaker of the House

Tom Emmer, the Republican Party’s most recent nominee for the open position of Speaker of the House, has removed himself from the running. Republicans…

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October 24, 2023

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Tom Emmer, the Republican Party’s most recent nominee for the open position of Speaker of the House, has removed himself from the running. Republicans in Congress nominated Emmer for Speaker of the House on Oct. 24. However, roughly four hours after the fact, Emmer reportedly dropped out of the running, as have two nominees before him. Emmer, currently serving as the majority whip, faced a challenging path to secure the position, as he would have had to seek it without the support of former U.S. President Donald Trump, who still enjoys immense popularity among far right-wing conservatives. The House Speaker’s seat has been vacant for three weeks following the removal of Kevin McCarthy earlier this month. During this period, two candidates, Steve Scalise and Jim Jordan, have fallen short in their attempts to secure the position. One of the lawmakers who ran for the position, Jack Bergman, posted on X (formerly Twitter):
“The House needs to elect a Speaker – and Republicans need to get to work. We have no time to waste. As I said before the vote, I’ll support our Speaker Designate on the House floor. We shouldn’t leave until we are confident we have 217 votes.”
Emmer is a prominent advocate for the cryptocurrency industry within Congress. Over the past years, he has championed various crypto-related bills, including a bill that prohibits the issuance of central bank digital currencies (CBDCs), and another that restructures the Securities and Exchange Commission’s (SEC) funding mechanisms. The post Crypto advocate Tom Emmer drops out of the running for Speaker of the House appeared first on CryptoSlate.

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Vodafone, Sumitomo team up with Chainlink to explore trade documents network

Vodafone’s Digital Asset Broker platform and Sumitomo have been working together since May on this proof-of-concept.
Vodafone Digital…

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October 24, 2023

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Vodafone’s Digital Asset Broker platform and Sumitomo have been working together since May on this proof-of-concept.

Vodafone Digital Asset Broker (DAB) has joined the Chainlink network as a node operator after completing a proof-of-concept with Japanese trading and investment company Sumitomo for exchanging trade documents across platforms. The companies hope to improve document transfer and processing of financial transactions in the $32-trillion global trade ecosystem, Vodafone said.

The proof-of-concept used oracle network Chainlink’s Cross-Chain Interoperability Protocol (CCIP). DAB “provide[d] security and interoperability across IoT devices at the edge of a network.” The proof-of-concept showed the potential of Vodafone Internet-of-Things devices and blockchains to provide data for use in contracts and AI applications. Potentially, a single interface could be created to transfer data and tokens, the company said:

“For example, a vessel detecting a cargo fire could autonomously relay data to smart contracts via DAB’s platform and CCIP, potentially triggering a marine cargo insurance process.”

Trade documents are a particular challenge because they may exist on paper or on digital platforms with low interoperability and need to change hands repeatedly.

Related: SWIFT partners with Chainlink for cross-chain crypto transfer project

International telecommunications company Vodafone launched DAB in February 2022 and first used it with Mastercard in a trial in the United Kingdom of an app to help electric vehicle drivers find and pay for the best charging options.

Vodafone teamed up with Sumitomo in May. The companies formed a new entity, in which Vodafone held 80%. Vodafone transferred DAB, as well as intellectual property, contracts, technology and software, into the new business. The two companies also invested jointly in Safaricom Ethiopia.

Vodafone DAB partnered with enterprise blockchain Aventus in August intending to improve the supply chain in aviation.

CCIP launched on Ethereum’s Arbitrum One layer-2 in September to increase scaling. It also worked with Australia and New Zealand Banking Group (ANZ) to test an Australian dollar stablecoin the same month.

Magazine: Introducing the Trivergence: Transformation driven by blockchain, AI and the IoT

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Bitcoin & The Dollar Soar, Squeeze Saves Stocks As Yield Curve Re-Inverts

Bitcoin & The Dollar Soar, Squeeze Saves Stocks As Yield Curve Re-Inverts

PMI beats caught the headlines but most missed the big tumbles…

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Bitcoin & The Dollar Soar, Squeeze Saves Stocks As Yield Curve Re-Inverts

PMI beats caught the headlines but most missed the big tumbles in the regional Fed surveys which is starting to drag 'soft' survey data lower...

Source: Bloomberg

But, crypto was the story du jour with Bitcoin soaring over $2500 to top $35,000 for the first time since May 2022...

Source: Bloomberg

We discussed catalysts for the move in detail here, but note on the day, BTC did come back a little after tagging $35,000...

Source: Bloomberg

Ethereum also rallied early on but gave a lot of its gains back, as ETH relative to BTC plunged back near Jun 2022 spike lows...

Source: Bloomberg

Stocks were stronger overnight - because WW3 hadn't started - then ramped on better than expected PMIs (see here for that malarkey) but that stalled into the European close sending stocks all the way to unchanged and to the lows of the day. From there they bounced with Nasdaq leading the charge ahead of tonight's GOOGL, MSFT earnings...

The S&P broke back below its 200DMA, but found support...

Thanks in large part to a giant short squeeze at the open...

VIX was clubbed a baby seal once again, back down to almost an 18 handle from above 23 at Monday's open....

As Nomura's Charlie McElligott notes: "The Vol selling in Equities Options space has continued at an unrelenting pace these past 2 sessions, as funds look to exploit the recently “rich” VRP off the back of 1) the shock FCI tightening risking a “cycle-turn,” 2) geopol stress “fat tails” and 3) the legacy VIX Dealer “short upside convexity” problem which has made Index iVol so suddenly “squeezy,” evidenced by recent “extreme VIX Beta to SPX” and Vol of Vol."

Bonds were mixed on the day with the long-end outperforming (30Y -5bps, 2Y +5bps), which leaves the 2Y yield alone higher on the week...

Source: Bloomberg

The 30Y yield closed back below 5.00%...

Source: Bloomberg

Which, obviously, flattened the yield curve dramatically with 2s30s now inverted again...

Source: Bloomberg

The dollar bounced hard off its pre-CPI lows, erasing all of yesterday's tumble...

Source: Bloomberg

Gold was basically flat on the day (in USD) but not in JPY where it reached a new record high...

Source: Bloomberg

Oil was pummeled ahead of tonight's API data, because WW3 never erupted?

As Bloomberg's Eddie Spence notes, gold’s explosive rally since Hamas’s attack on Israel has moved in tandem with oil prices, a sign some traders are hedging against stagflation.

The 15-day correlation between spot bullion and Brent crude is now at the highest in over a year. The relationship between the two commodities typically strengthens when oil begins to spike.

Finally, are stocks starting to catch down to central bank balance sheet realities?

Source: Bloomberg

...or will The Fed (et al.) pivot to QE before that gaping spread compresses from above?

Tyler Durden Tue, 10/24/2023 - 16:00

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