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- 🤖 Microsoft's Copilot, Amazon AI, and ARK Innovations AI analysis
🤖 Microsoft's Copilot, Amazon AI, and ARK Innovations AI analysis
3/18/23
Neon Pulse Team
March 18, 2023
Good morning and welcome to the latest edition of neonpulse!
Here's what we have for you today:
Microsoft unveils 365 Copilot
ARK Innovations A.I. predictions
Amazon sellers adopt A.I. tools
Microsoft 365 Copilot
Following on the heels of Google’s “A.I. everywhere” announcement, Microsoft has unveiled its 365 Copilot plan highlighting how the company plans to integrate A.I. across its productivity suite.
Product highlights from the press event:
Copilot in Word will write, edit, and summarize documents, suggesting tones including “professional,” “casual,” “thankful” and “passionate,” which is an interesting option
Copilot in Excel will help unlock insights, identify trends, and create data visualizations in “a fraction of the time”
Copilot in Outlook will help compose emails and manage your inbox
Copilot in Teams will provide real-time summaries and will create a list of action items from a meeting
Outlook Copilot in action
“Today marks the next major step in the evolution of how we interact with computing, which will fundamentally change the way we work and unlock a new wave of productivity growth,” said Microsoft CEO Satya Nadella, making Copilot sound like it may be the first Microsoft product that you’re actually excited to use.
Copilot is currently available to a limited group of testers with no firm date as to when the tools will be available to the general public, but you can check out a quick video highlighting the new features on YouTube here.
ARK’s A.I. Predictions
ARK Investments recently released its Big Ideas 2023 report in which it highlighted the rapid advancement’s in AI technology.
The main theme of the report was the significant productivity improvements that workers have achieved using AI along with the the rapid decline in the cost to provide A.I. services, which together ARK predicts will result in the mass adoption of the new technology.
Cost To Train GPT-3 Level Performance
The primary cost of running A.I. is the training cost, both of the hardware and the software, and in order to make A.I. ubiquitous, it’s essential to get this cost as low as possible.
A.I. training costs are currently declining an annual rate of 70%, with the cost to train a large language model to a “ChatGPT level of performance” collapsing from $4.6 million in 2020 to $450,000 in 2022.
ARK is projecting that the cost to train an AI model to a ChatGPT level of performance will drop to $30 by the year 2030, placing the technology within the budget of a majority of the worlds population.
In regards to the productivity boosting effects of A.I., studies have shown that software engineers are able to complete a coding task in less than half the time by working with the current version of the A.I. coding assistant GitHub Copilot.
Based upon the current rate of advancement, ARK is forecasting that A.I. will increase the productivity of software engineers by more than 10-fold by the year 2030.
AI is creating significant efficiencies in the design world as well, with AI models like Stable Diffusion capable of producing digital artwork at a negligible cost of $0.08 per image, in comparison to $150 with a human graphic designer.
One area that I believe ARK forecasting may be overly optimistic is the assumption that AI productivity gains would be captured by the workforce, which would then allow people to work less hours each day and enjoy additional leisure time.
If history is any indicator of how the AI revolution will unfold, our prediction is that companies will capture the majority of the value of the new technology, leveraging A.I. to maximize individual worker productivity and reducing headcount in order to boost profitability.
After all, it was only weeks ago that CNET fired 50% of their writing staff while maintaining output by adopting A.I. tools like ChatGPT.
You can check out ARK’s full Big Ideas report here.
Amazon Sellers Adopt A.I.
As more and more businesses begin selling products on Amazon, individual sellers need to work harder than ever in order to remain competitive on the platform.
One of the primary ways that sellers are able to maximize their sales on Amazon is by improving their “Amazon SEO,” a process that makes their products appear at the top of search results for a particular keyword.
Because customers rarely go beyond the first page of search results, the difference in sales between a product ranked at the top of the first page versus one that is pushed to the second page can often be hundreds or even thousands of sales per month.
And while optimizing the “Amazon SEO” of a product has traditionally been a time intensive process, a new A.I. tool called CopyMonkey makes the process of creating keyword-rich listings instant and effortless.
AI Generated Product Descriptions
By analyzing search data and consumer behavior patterns on Amazon, the tool is able to identify the most relevant keywords and search phrases for a particular product, allowing sellers to create optimized listings that boost their product ranking, maximizing the product’s visibility to potential customers and increasing sales as a result.
You can check out a demo of how the tool works on the company’s website here.
And now your moment of zen
That’s all for today folks!
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