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TOGETHER WITH INNOVATING WITH AI
Welcome to AI Tool Report!
Wednesday’s top story: Google has confirmed that it uses AI to generate over a quarter of its code.
💼 Want to transform your business into an AI-first organization? Join the AI Consultancy Project and learn how to build a business as an AI consultant.
🌤️ This Morning on AI Tool Report
👩💻 AI makes 25% of Google’s code
💼 How to become an AI Consultant
🍟 Inside OpenAI’s in-house AI chip plans
🤩 How to 3X your outreach reply rate
🖼️ How to write an ad campaign using ChatGPT
⬆️ Musks xAI $16B jump (in 5 months)
🚫 US blocks China AI investors
Read Time: 5 minutes
FACT OF THE DAY
🤔 Although 52% of telecommunications organizations utilize chatbots (Gartner), according to Accenture, just 7% of the population trust chatbots with sensitive/conflict-driven issues, a huge difference from the 49% that trust human advisors.
STOCK MARKETS
🍟 OpenAI is collaborating with AMD to utilize its new MI300X chips through Microsoft’s Azure, with AMD predicting $4.5B in AI chip sales for 2024 following the release of this new chip in Q4 of 2023. Despite the collaboration, AMD is down 7% in after-hours trading, erasing the gains. Learn more.
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CODING
👩💻 AI makes 25% of Google’s code
Our Report: During its third-quarter earnings meeting, Google revealed that over 25% of its new code is generated by AI.
🔑 Key Points:
While Google CEO, Sundar Pichai, confirmed that “more than a quarter of all code is generated by AI,” he also emphasized that human engineers still review and approve all machine-created code.
This move accelerates coding practices because it lets AI handle the routine, everyday code while allowing Google developers to work faster, giving them time to focus on the bigger, more complex tasks.
According to Pichai, this AI coding assistance is part of a broader strategy within Google to streamline operations, improve efficiency, accelerate innovation, and maximize returns across all its divisions.
🤔 Why you should care: During the same earnings meeting, Google reported $88.3B in revenue for the quarter, with Google Search (which includes AI overviews) making $76.5B (up by 13% YoY) and Google Cloud (which provides AI infrastructure for other companies) making $11.4B (up by 35% YoY), and with a projected $12B quarterly spend allocated to AI data centers, Google is clearly committing to further AI expansion.
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TOGETHER WITH INNOVATING WITH AI
💼 Want to become an AI Consultant?
The AI consulting market is about to grow 8X – from $6.9B to $54.7B, by 2032.
But how does an AI enthusiast become an AI consultant?
How well you answer that question makes the difference between just “having AI ideas” and being handsomely compensated for your contribution to an organization’s AI transformation.
Thankfully, you don’t have to go it alone – our friends at Innovating with AI have welcomed 300 new students into The AI Consultancy Project, their new program that trains you to build a business as an AI consultant.
Some of the highlights current students are excited about:
The tools and frameworks to find clients and deliver top-notch services
A 6-month plan to build a 6-figure AI consulting business
Students getting their first AI client in as little as 3 days
And as a reader of AI Tool Report, you get early entry to the next enrollment cycle.
TRENDING TOOLS
Meco is a distraction-free space for reading and discovering newsletters, separate from the inbox ⭐⭐⭐⭐ / 5 (Trustpilot)
Reqops turns designs into software with AI-powered communication
Custom Craft Bot is an AI-powered content automation tool
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AI HARDWARE
🍟 Inside OpenAI’s in-house AI chip plans
Our Report: Following rumors, back in June that OpenAI was in talks with several AI chip designers about designing and developing its own AI chip, sources say that OpenAI has chosen to work with AI chip manufacturers—Broadcom and TSMC—to develop its new, custom-designed AI chips, made to handle its large AI workloads.
🔑 Key Points:
Although discussions are still in their early stages, OpenAI has been planning this custom chip for about a year and has built a 20-strong chip development team, which includes several lead ex-Google engineers.
OpenAI wants to develop a chip to run its AI platforms and respond to user requests (called inference), which investors expect the demand for will grow, as tech companies start using AI models for more complex tasks.
Sources say the in-house AI chip will not start production until 2026, so OpenAI is using AMD chips, alongside NVIDIA’s, as it tries to reduce reliance on NIVIDA after chip shortages, delays, and high costs.
🤔 Why you should care: OpenAI was also reportedly planning to set up a network of chip factories, but these plans have been put on ice, while it prioritizes developing its own chip, in-house, although it will have stiff competition from its rivals—especially Google, Microsoft, and Amazon—as they are already well on the road to developing their custom chips, so may need to raise even more record-breaking funding to compete.
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TOGETHER WITH LEMLIST
3X your reply rate with lemlist’s AI-powered outreach
Tired of low engagement on your outreach campaigns?
lemlist helps you create ultra-targeted, AI-powered, multichannel campaigns so you can:
Stand out with hyper-personalized messages that make your outreach impossible to ignore.
Generate personalized sequences that capture attention and get responses.
Our AI leverages insights from over 400M emails sent by 37k+ lemlist users and outreach experts, making it almost impossible to miss.
PROMPT ENGINEERING
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Wednesday’s Prompt: How to write a ‘Picture-Promise-Prove-Push' ad campaign using ChatGPT
Type this prompt into ChatGPT:
Results: After typing this prompt, you will get an advertising campaign outline that uses the ‘Picture-Promise-Prove-Push' copy framework to encourage your ideal target market to respond.
P.S. Use the Prompt Engineer GPT by AI Tool report to 10x your prompts.
ACTIONABLE INSIGHTS
It’s not too late! Join the AI Reports AI Skill Sprint on Skool and master 6 crucial AI skills in just 6 weeks…
Course 4 (Wednesday 30th October): LinkedIn Content for Individual Brands and Businesses
✅ What You'll Learn: Course 4 is with LinkedIn content expert and Founder of Cognified, Charlie Hills, who will discuss how to use AI to plan and create LinkedIn content and engagement strategies, write and post engaging content, analyze and repurpose old content, and more…
🫱🏻🫲🏻 Connect with Charlie here
BREAKING NEWS
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FUNDING
⬆️ Musks xAI $16B jump (in 5 months)
After raising $6B earlier this year, Elon Musk’s start-up, xAI, is entering into another funding round—which has valued the company at $40B—as it tries to keep up with the likes of OpenAI (valued at $157B).
This new funding round marks a $16B increase in value for xAI, which it’s managed to achieve in just 5 months after previously being valued at $24B during its $6B funding round in July.
xAI’s last funding round was backed by top industry investors such as a16z and Sequoia Capital, as Musk continues his mission to develop safe, robust, advanced AGI (Artificial General Intelligence).
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POLITICS
🚫 US blocks China AI investors
The US is finalizing rules to stop US citizens from investing in the development of AI hardware and infrastructure in China, to prevent China from accessing the USA’s cutting-edge expertise and equipment.
The rules will take effect from January 2nd and will stop specific transactions in semiconductors, microelectronics, and AI, and impose mandatory reporting requirements for transactions that aren’t banned.
These rules are “targeted and concrete measures to ensure that US investors are not exploited to advance the development of key technologies by those who may use them to threaten our national security.”
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Until next time, Martin & Liam.
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