💼 44% of labor force affected by AI in next 3 years
PLUS: Increase The Accuracy Of Your ChatGPT Results By Adding Emotion
Martin Crowley & Arturo Ferreira
October 03, 2023
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Today:
44% of the labor force affected by AI in the next 3 years
Read Time: 4 minutes
Our Report: Morgan Stanley analyst Brian Nowak forecasts that 44% of the labor force will be affected by AI in the near term, with the economic ripple effect speculated to be around 4.1T dollars.
🔑 Key Points:
The projection underscores a major leap from the current impact of AI—which stands at 2.1T dollars, affecting 25% of labor— thereby indicating a significant uptick in AI integration across sectors.
Generative AI has been highlighted as a pivotal factor in broadening the spectrum of automation, with the reducing input costs fueling growth across many industries.
Software companies are poised to capture 5% of the estimated $4.1T influx—which would translate to a total addressable market of 205B dollars over the next three years.
Furthermore, here at AITR, we’ve also noticed a trend toward Enterprise use cases which would mean, if the forecast is accurate, there’d be a $150B in demand for AI companies offering Enterprise products.
🤨 Why you should care: Whether we like it or not, AI will affect the labor force in the immediate term. It’s up to us to educate and prepare ourselves best for the oncoming technological shift—not just to survive but to thrive in this changing environment.
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✅ Add Emotion
💡Tip: A recent paper by Microsoft found that if you add emotional stimuli—such as “this is important for my career”—you get more accurate/detailed results:
🎨 Artist Highlight: Heather Cooper
copy & paste ⬇️
“Stars in spiral arcs, Code written in universe, Night’s silent sonnet.”
In an exclusive interview with Bloomberg, Sequoia Capital steward Roloef Botha declared they aren’t looking to invest in AI foundation models; instead staying true to their core strategy of supporting early-stage companies interacting with these models rather than those developing them.
Notably, despite their long-time investment in OpenAI, the high costs of building large language models have deterred them from investing further in such ventures.
Visa plans to invest $100M in generative AI companies through its investment arm, Visa Ventures, to advance commerce and payment solutions.
Visa has a long-standing interest in AI and claims to be a “Pioneer of AI use in payments since 1993”. The head of the investment arm, David Rolf, furthered this statement by saying that “AI has the potential to be one of the most transformative technologies of our time”.
Spotify is reportedly developing AI-generated playlists based on user prompts, as indicated by code references found in the app.
Although Spotify has officially announced AI-driven features like an AI-powered DJ and AI-translated podcasts, they refused to comment on the aforementioned prompt-generated playlist feature.
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🗞️ The research paper on emotion to increase ChatGPT’s accuracy
⛓️ Rewind reveals ‘Pendant’—record every interaction, always
🏡 Updates on Google’s Smart Home capabilities
🇨🇳 China to focus on smart driving cars
🇯🇵 Japan developing $3M robot
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Until next time, Martin & Arturo.
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