Meta Unleashes Llama 3: Advanced Multimodal Capabilities

Good Morning and Happy Friday!

On April 19, 1897, the first Boston Marathon was held, marking a milestone in sports history. Just as this event set the stage for long-distance running globally, today's innovations in AI are laying the groundwork for transformative changes across all sectors. Join us as we connect past achievements with future possibilities, illustrating how we continually push the boundaries of what's possible!

TRACK HIGHLIGHTS
Article Takeaways

• Meta Unleashes Llama 3
• Samsung's Transforms Speech Therapy
• 6 Day Work Week for Samsung Executives
• Google Reorganizes to Fast-Track AI
• Controversy Over Regulating AI

MARKET PITSTOP
A Quick Look at the Market

Stock Market: The S&P 500 fell about 0.2% to notch its fifth-straight session of declines, its longest losing streak of the year. The Dow Jones Industrial Average hovered just above the flat line, while the Nasdaq Composite slipped 0.5%, extending tech's recent slump.

Crypto: As of early Thursday, there are fewer than 230 blocks to mine before the next halving. About 99.9% of the required blocks are already mined.

LAP 1 Featured Story
Meta Unleashes Llama 3: Revolutionizing AI with Advanced Multimodal Capabilities

• Llama 3 aims to rival OpenAI and Google with advanced multi-modal, multilingual models.
• Initial smaller versions of Llama 3 tout top-tier open-source capabilities, soon on major platforms.
• A larger Llama 3 variant with 400+ billion parameters under development, pending safety assessments.
• Meta AI, powered by Llama 3, to enhance user interaction across Meta platforms.

Meta has recently introduced Llama 3, an updated version of its Llama AI model series, enhancing its functionality in the highly competitive AI landscape. Llama 3 addresses the escalating competition from both open source initiatives and proprietary models by offering advanced features that were previously exclusive to paid, closed-access services from rivals like OpenAI, Anthropic, and Google. This new version is designed to be multi-modal and multilingual, capable of processing and generating content across text, images, and video formats, which greatly expands its utility. Meta emphasizes improvements in the model's reasoning, coding capabilities, and its ability to handle larger context windows, which helps reduce errors and "hallucinations" during data processing.

Although the initial release includes two less capable, smaller versions of Llama 3, these are lauded as superior within their open-source class and will soon be accessible on major cloud platforms. Meanwhile, a more robust version with over 400 billion parameters is still in training, poised to match or surpass the best proprietary models available, pending outcomes from rigorous safety evaluations.

LAP 2
Samsung's New AI-Powered Watch App Transforms Speech Therapy with Haptic Guidance

• Samsung and Cheil Worldwide Spain launch IMPULSE, a haptic speech coach app for Galaxy Watch.
• IMPULSE uses rhythm therapy to improve speech fluency via haptic feedback.
• Available in multiple languages, the app helps users speak confidently in any situation.
• Tested with 200 patients globally, endorsed by speech therapy professionals.

Samsung, in collaboration with Cheil Worldwide Spain, has unveiled a groundbreaking AI application named IMPULSE, designed for the Samsung Galaxy Watch. This innovative app is engineered to aid individuals with speech impediments by incorporating rhythm therapy techniques directly into the wearable device, allowing silent, rhythmic haptic feedback to guide speech patterns. Utilizing advanced natural language processing algorithms, IMPULSE analyses speech and converts it into vibrations that assist users in maintaining fluency in real-world conversations. Initially available in English, Portuguese, and Spanish, the app promises to expand its linguistic capabilities, providing support and enhancing communication for users worldwide.

BRAIN TEASER
The more of this there is, the less you see. What is it?

WALLSTREET PITSTOP
Samsung Shakes Up Executive Schedule: Six-Day Workweek to Combat Financial Crunch

• Samsung introduces a six-day workweek for executives amid financial challenges.
• Policy follows disappointing results and increased economic pressures.
• Effort aims to boost competitiveness in high-bandwidth memory chip production.
• Executives across all Samsung affiliates required to work extra day.

In response to its recent financial downturn and escalating economic pressures, Samsung is implementing a six-day workweek for its executives across all affiliates, including Samsung Electronics, Samsung SDI, and Samsung SDS. This decision follows a year of particularly disappointing financial outcomes, compounded by rising borrowing costs, higher oil prices, and the rapid depreciation of the Korean currency. The Korea Economic Daily reports that this move is designed to instill a heightened sense of urgency among leadership to navigate through these turbulent times. While this policy has already been voluntarily adopted by executives in some divisions since the beginning of the year, it is now being formalized company-wide.

Lap 3
Google's Big Pivot: Reinventing the Tech Giant with AI at the Core

• Google initiates a major internal reshuffle, resulting in a new team called "Platforms and Devices" to streamline its product suite including Pixel, Android, Chrome and others.
• Accelerating AI integration across Google's offerings is the main objective behind this reorganization, led by Rick Osterloh.
• This revamp forms part of Google's broader strategy to pivot around AI, which is viewed by CEO Sundar Pichai as a transformative technology on par with fire.

Google CEO Sundar Pichai has announced substantial internal reorganizations, including the creation of a new team, "Platforms and Devices", to oversee all of Google's Pixel products, Android, Chrome, ChromeOS, Photos, and more. The team will be led by Rick Osterloh, who previously oversaw all of Google's hardware efforts. The reorganization is aimed at integrating AI across all of Google's products more efficiently. The company also plans to move much faster in AI developments, by simplifying the pipeline with one team focusing on AI research and another on AI products. This change is part of Google's bigger initiative to reinvent itself around AI, a technology which Pichai has said could be as important as fire.

FUN FACT STOP
Botanically speaking, bananas are berries, but strawberries aren’t!

LAP 4
The Controversy Over Regulating Artificial Intelligence

• Regulatory attempts to mitigate AI bias are meeting resistance from both civil rights groups and the tech industry.
• Proposed laws necessitate AI "impact assessments" from companies, sparking fears of trade secret exposure and lawsuit vulnerability.
• Legal proceedings under these propositions are confined to public legal representatives, causing disputes over individual legal rights.

Artificial intelligence is increasingly involved in decision-making processes in various sectors, but efforts to regulate potential bias in AI are facing opposition from various quarters. The proposed legislation requires companies to perform "impact assessments" for AI systems, potentially increasing accountability but also raising concerns about exposure to lawsuits and disclosure of proprietary information. Presently, legal actions under these proposed laws are restricted to state attorneys general and public attorneys, not private citizens, a point of contention. Despite these challenges, lawmakers argue these regulations are crucial for establishing safe and trustworthy AI systems.

FINAL LAP - FINANCE & THE STOCK MARKET
Persistent Financial Instability, Market Volatility, and International Cooperation

• Despite extensive regulatory efforts since the 2007-08 financial crisis, financial system instability and inadequate risk management persist, as seen in recent banking collapses and turbulent bond markets.

• US Treasuries fell, while the dollar rose, with a Federal Reserve rate cut expected in November.

• US stocks, particularly the S&P 500 and Nasdaq, experienced declines on Thursday, continuing April's market downturn.

• The US, Japan, and South Korea, in their first trilateral finance dialogue, agreed to closely consult on foreign exchange markets amid concerns over sharp currency declines and potential Japanese intervention.

BRAIN TEASER ANSWER

Darkness

THE RACE CONCLUDES
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