OpenAI is One Step Closer to Human Intelligence: New Classification System Unveiled

Happy Friday, Team!

On July 12, 1962, the world witnessed a revolutionary leap in communication with the launch of Telstar, the first active communications satellite. Just as Telstar transformed global connectivity, our newsletter aims to keep you connected with the latest breakthroughs in artificial intelligence.

TRACK HIGHLIGHTS
Article Takeaways

• OpenAI on Level 2 of 5 to Attain Human Intelligence
• Arize AI Unveils Copilot: Revolutionizing AI Troubleshooting
• Tech Tumble: Inflation Eases, Investors Pivot to Small-Caps
• Tesla's Streak Ends, AI Hype Faces Reality Check
• AWS Enhances AI for Cloud Leadership.

MARKET PITSTOP
A Quick Look at the Market

Stock Market: S&P 500 retreats from record as investors sell high-flying Big Tech stocks. Read More

Crypto: Global investment bank JPMorgan has predicted a crypto market recovery beginning in August. Read More

LAP 1 Featured Story
OpenAI is One Step Closer to Human Intelligence: New Classification System Unveiled

• OpenAI introduces a five-level system to track AGI progress.
• Currently at Level 1, nearing Level 2 for doctorate-level problem-solving.
• Levels 3-5 include AI acting on behalf of users and organizational work.

OpenAI has introduced a five-level classification system to track its progress toward achieving artificial general intelligence (AGI), which refers to AI capable of outperforming humans. Currently, OpenAI places itself at Level 1, where AI can interact conversationally with people, and is nearing Level 2, where systems can solve problems at a doctorate level. Levels 3 through 5 describe progressively more advanced capabilities, culminating in AI systems performing the work of entire organizations.

The system, still in development, will be shared with investors and external parties for feedback. Executives Sam Altman and Mira Murati predict reaching AGI within the next decade, with Nvidia's Jensen Huang and Elon Musk projecting similar timelines. Read More

LAP 2
Arize AI Unveils Copilot: Revolutionizing AI Troubleshooting

• Arize AI debuts AI Copilot for troubleshooting AI systems.
• New workflows help identify and fix issues in deployed LLM apps.
• Arize platform enhances AI development and performance evaluation.

Arize AI introduced Arize Copilot, an industry-first AI assistant designed to help AI developers troubleshoot and debug large language models (LLMs). Debuted at the Arizeconference, the Copilot automates complex tasks, providing insights, prompt optimization, and AI search capabilities. New workflows in the Arize platform further aid engineers in identifying and addressing issues in deployed AI applications. These updates position Arize as a leading platform for both AI experimentation and production observability, enhancing overall AI development and performance evaluation. Read More

BRAIN TEASER
I have keys but open no locks. I have space but no room. You can enter, but you can’t go outside. What am I?

WALLSTREET PITSTOP
Tech Tumble: Inflation Eases, Investors Pivot to Small-Caps

• Soft inflation data led to a rotation out of tech and into small-cap stocks.
• Broadcom, Meta Platforms, and Intel stocks fell despite positive economic news.
• Broadcom received a significant price target increase from an analyst.

Despite favorable inflation news, tech stocks, including Broadcom, Meta Platforms, and Intel, experienced declines as investors rotated into small-cap stocks. The June Consumer Price Index showed softer-than-expected inflation, raising hopes for a "soft landing" and potential rate cuts. This positive economic outlook led investors to shift focus from the over-performing tech sector to undervalued small-cap stocks. Notably, Broadcom's stock dropped even after receiving a significant price target increase from an analyst. Read More

Lap 3
Tesla's Streak Ends, AI Hype Faces Reality Check

• Tesla's 11-day win streak ended after robotaxi unveiling delay.
• xAI ended $10 billion server deal talks with Oracle.
• AI adoption may not match corporate enthusiasm, says Goldman Sachs.

Tesla's stock turned negative after an 11-day winning streak due to a delay in the robotaxi unveiling. Additionally, Elon Musk's xAI ended its $10 billion server deal discussions with Oracle, raising questions about its competitive edge against AI giants like Alphabet and Microsoft. The "Magnificent Seven" tech companies had their worst day in a year, with most closing in the red. Despite the hype around AI in corporate discussions, Goldman Sachs reports that actual adoption of AI technologies remains limited as companies navigate integration challenges. Read More

FUN FACT STOP
There's a species of jellyfish known as Turritopsis dohrnii that is considered biologically immortal.

LAP 4
Amazon Web Services Boosts AI Offerings to Stay Ahead in Cloud Race

• AWS launches over 320 generative AI features in 2023.
• Bedrock customers can fine-tune AI models with their data.
• AWS App Studio enables AI-powered app creation via natural language.

Amazon Web Services (AWS) has announced significant updates to its AI products in a bid to outpace competitors and maintain its lead in the cloud market. AWS has launched over 320 generative AI features this year, more than twice that of other major cloud providers. Key updates include the ability for Bedrock customers to fine-tune large language models with their own data and a guardrail feature to detect AI "hallucinations." Additionally, AWS introduced AWS App Studio, a service that allows users to create enterprise-grade applications through natural language instructions. These innovations aim to make AWS's cloud services more attractive and maintain its market dominance. Read More

FINAL LAP - FINANCE & THE STOCK MARKET
Market Turmoil: CPI Falls, Delta Weakens, Buffett Indicator Alarms, Fed Rate Cut Hopes Rise

• Stock market today: Stocks fall from records as Tesla, Nvidia lead tech sell-off

• June CPI, Delta shares sink on weak guidance

• Finance Minister Suzuki mum on whether Japan intervened in currency market

• 'Warren Buffett Indicator' Sounds Alarm: Stock Market Levels Now Surpass Dot-Com Bubble, Great Financial Crisis

• Powell’s closer attention to cooling job market boosts hopes for Fed rate cuts

BRAIN TEASER ANSWER
A keyboard

THE RACE CONCLUDES
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