2045 AI prediction

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Today we will discuss -

• 🥳EU takes major step towards AI regulation

• 🤵AI could replace 50% of today’s jobs by 2045

• 🚀Google unveils AI-powered advertiser features

All this and more - Let's dive in!

🍳What’s cooking in the newsroom

EU Parliament approves world's first ‘The Artificial Intelligence Act’

☕News - The European Parliament passed the EU AI Act, a new law that aims to protect users from the harmful potential of artificial intelligence.

The lawmakers made this move in response to concerns that artificial intelligence could be used for harmful purposes, such as surveillance, discrimination, and misinformation. These concerns are based on recent advances in AI, which have made it possible to create powerful new tools that could be used to manipulate people and interfere with democratic processes.

📝Some key points about the EU AI Act

• 🤓The EU AI Act will take a risk-based approach to regulation, meaning that the level of restrictions placed on an AI application will depend on how dangerous it is deemed to be.

• 😨The Act would ban specific AI applications that are considered to be "unacceptable," such as systems that use analytics to predict criminal behavior. It would also introduce new limits on "high-risk" AI applications, such as tools that could sway voters to influence elections or recommendation algorithms that suggest what content people see on social media.

• 🤒Under new European Union rules, companies will need to label AI-generated content and list the sources of data used to train the AI. This will help prevent the spread of misinformation and protect the rights of publishers.

The bill needs to be negotiated by the European Council, which is made up of the leaders of EU countries. Lawmakers hope to reach an agreement by the end of the year.

AI automation could take over half of work activities by 2045: McKinsey

📻News - McKinsey & Company predicts that generative AI could automate half of all work activities by 2045. The report, released on June 14, found that generative AI will likely have the biggest impact on customer service, marketing and sales, software engineering, and research and development roles.

Automation adoption is likely to be faster in developed economies because labor is expensive there. Businesses in these economies will see benefits such as lower costs and increased productivity.

👨‍💻What’s more? The generative AI market is projected to add between $2.6 and $4.4 trillion to the global economy annually by 2030, with a total market value of up to $15.7 trillion.

Generative AI has the potential to deliver an additional $200 to $340 billion in value to the banking sector each year if all potential use cases are implemented.

As per the report, Businesses and governments can invest in education and training to help workers develop the skills they need for the jobs of the future. This includes providing training on new technologies, such as generative AI, as well as training on soft skills, such as problem-solving and creativity.

Google adds new AI features for advertisers to improve their ad campaigns

♨️News - Google announced two new AI-powered features for advertisers on Wednesday. The features, called Demand Gen and Video Max, are designed to help advertisers automate their ad campaigns and improve their results.

Demand Gen will allow advertisers to automate the placement of their photo and video ads across multiple Google products, such as Gmail, YouTube, and Shorts. When you select the “Demand Gen” campaign type, Google’s AI will automatically place your ad in the most effective locations based on the user’s interests, demographics, and location.

Video Max would help advertisers find the best ad placements for their video ads. Video Max uses machine learning to analyze billions of data points to determine the most relevant and engaging ad placements for each video ad. This can help advertisers maximize the number of views their video ads receive and improve their ROI.

According to Vidhya Srinivasan, Google vice president and general manager of advertising, early tests have shown that brands using the new tool received an average of 40% more video views than those who did not use the tool.

🥵What else is happening?

• UK watchdog warns generative AI developers to address privacy risks before bringing products to market

• Synthesia secures $90M for AI that generates custom avatars

• Live 95.5 radio station introduces AI DJ to its midday show

• Google launches virtual try-on tool for clothes on real-life fashion models

• OpenAI reportedly warned Microsoft about Bing’s bizarre AI responses

😲Some unusual AI use cases

• AI-powered pets - AI is being used to create new types of pets, such as robotic pets and virtual pets. For example, robotic pets can be programmed to interact with users in a way that is similar to real pets. Virtual pets can be played with on a computer or mobile device.

• AI-based therapies - AI systems can be trained to recognize and respond to human emotions. They can analyze facial expressions, tone of voice, and other physiological cues to understand emotional states and provide appropriate responses. This technology has potential applications in mental health support, customer service, and personalized therapy.

• AI for dream analysis - AI can analyze brain activity patterns during sleep and attempt to interpret dreams. By training on a vast database of dream reports and associated brain data, AI algorithms can generate insights into the symbolism, meaning, and emotions behind our dreams.

💣 Discover mind-blowing AI tools

1. AIPRM - Provides users with an easy and efficient way to optimize their website and boost its ranking on search engines

2. Make - Boost productivity and unlock unlimited possibilities

3. StarryAI - Allows users to create incredible works of art with the help of Artificial Intelligence

4. StableStudio - An open-source text-to-image consumer app by Stability AI

5. Simplified - Modern design and collaboration platform for graphic designers, copywriters, video makers

6. Dream - Create high-quality artwork in seconds

7. GenCraft - Transforms a few words into personalized and stunning art photos

8. Fliki - Helps content creators transform the text into videos with realistic voices

9. Pinecone - Provides developers with a fully managed, easily scalable solution for building high-performance vector search applications

10. Durable - AI-powered website generator

🌟Mythbuster

Common myth - More data means better AI

Fact - The idea that more data automatically means better AI is a myth. While more data can help improve the performance of AI models, it is not the only factor that matters. The quality of the data is also important, as is the way in which the data is used to train the model.