😺 HUGE new ChatGPT update

Welcome, humans.

Kudos to all of y’all who are putting in the extra work to stay ahead of AI. We know it’s not easy. Excited to continue growing and learning with you, ya smartie-pants!

Here’s what’s going on in AI today:

• Businesses can now train ChatGPT on their data.
• Meta released a powerful speech-to-speech model for 100 languages.
• Microsoft’s AI design tool is available in Edge.
• Anyone can now use ElevenLabs’ voice models!

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Businesses Can Now Train ChatGPT On Their Data.

OpenAI is letting users upload their data to ChatGPT-3.5 so it can execute use cases specifically tailored to your business.

In other words, fine-tuning.

Fine-tuning is when you customize an AI with instructions specific to you, such as marketing material, writing samples, or code formatting. Think of it as setting your preferences on a dating app…

Fine-tuning ChatGPT-3.5 trains it to perform a task in a very particular way, like writing or coding in your brand's distinct style. (Heads up: Fine-tuning ChatGPT-4 is arriving this fall).

Here’s our take: Great prompt engineering is still good enough for handling most tasks.

You’ll want to fine-tune ChatGPT when you require an output that's so specific, it can't be simply described in a prompt.

For example, in customer support, you'll need to fine-tune ChatGPT with:

• Hundreds of real support examples.
• Product documentation.
• Thousands of FAQs.

If this sounds like you, here’s OpenAI’s full fine-tuning guide. But two things to keep in mind:

1. It’s expensive — 8x more expensive than just using ChatGPT-3.5 (the base model).
2. Data privacy — Although OpenAI says it won’t misuse your business’ data, some users are dubious.

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AI Will Change Investing, But Not Yet.

Made in Midjourney

This is one of those questions that everyone thinks, but no one says out loud: how can AI make us better investors?

The answer: no one knows, (except Jim Simons, who's been beating the market for decades through algorithmic trading).

A recent FT article sheds some light on this, revealing that wealth management firms are interested in AI, but are having trouble using and affording it. Mini-recession vibes, am I right?!

Looking forward, though, we could see the finance industry use AI to significantly speed up processes like:

• Identifying companies to invest in.
• Analyzing compliance, research, and reports.
• Tailoring portfolios to align with client preferences.

Claude is our go-to for most research-related things. Plus, check out this awesome tool called "SEC Insights” that lets you chat with 10-Ks and 10-Qs from some of your fav companies.

P.S. Give us a shout if you're in finance, and tell us how/if your company is embracing AI!

Around the Horn.

• Meta unleashed an AI model called “SeamlessM4T” that can turn speech from one language into speech in 100 languages.
• ElevenLabs, the powerful AI voice generator, is now available for all users in over 30 languages.
• Microsoft’s AI design tool is available for Edge users in the US.
• VMware and Nvidia are teaming up to help enterprises fine-tune AI models.
• Google co-founder Sergey Brin: “I’ve never experienced a time in technology and computer science as revolutionary as [AI].”

Wednesday Wirings.

1. HuggingFace, an open-source AI platform, is raising ~$200 million at a $4 billion valuation.
2. Helm, a builder of AI software for autonomous driving, raised $55 million.
3. Prins AI, which creates AI digital personas, raised $22 million.
4. Sizzle AI, a chatbot that helps students with homework, raised $7.5 million.
5. Marqo, a vector search engine, raised $5.2 million.

We curated the top 27 tools you need for work in our “Top Tools For Business”!

A Cat's Commentary.

That's all we have for today. Check out our website for more resources.

See you cool cats on Twitter if you're there: @nonmayorpete & @noahedelman02.