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10 Must-Know AI Trends Altering Global Tech Landscape in 2024

Today: TikTok's $4.99 Offer | AI Trends 2024 | Pixel 8 & Watch 2

Hello Tech Enthusiasts!

Welcome to the update for Tuesday, October 3. Today, we've got some scintillating stories lined up:

  • The controversy over the Google-Apple AI Fix

  • What's behind TikTok's $4.99 Offer?

  • Musk-Hilton Livestream: A game-changer?

  • Decoding the TopAI Trends of 2024

  • A deep dive into the Pixel 8 & Watch 2 launch

  • and more

Dive in, stay informed, and let's navigate the tech world together. Read on!

Tech Companies

Microsoft CEO Satya Nadella has testified in the ongoing Google vs. U.S. Department of Justice antitrust trial, stating Apple's agreement with Google has rendered competition in the search engine market virtually impossible. With Google being the default search engine on Apple devices, Google has reinforced its ~90% market share monopoly. Despite trying to leverage AI technology to compete, Microsoft's Bing struggles against Google's distribution advantage. Nadella's statement occurs amid rumors that Apple is considering developing its own search engine.

Why does this matter?

Microsoft's CEO, Satya Nadella, voiced his concerns on how Google's prevalent search engine dominance, bolstered by exclusive deals like the one agreed with Apple, stifles competition and growth in the search engine market. It is obviously in Nadellas best interest to stop Googles competitive position.

K.L - Business Edge

TikTok is experimenting with an ad-free monthly subscription service, currently priced at $4.99 in the US during its testing phase.

Why does this matter?

TikTok's move to test an ad-free subscription model could significantly alter the platform's revenue dynamics, potentially creating new opportunities for monetization and improved user experience.

K.L - Business Edge

Elon Musk's X, plans a livestream shopping event with Paris Hilton, part of the firm's shift towards a creator-centric commerce model. X's earlier e-commerce ventures included mobile storefronts and a Walmart-partnered livestream shopping test.

AI Corner

Generative AI became a prominent tech trend in 2023, attracting main tech giants like Google, Microsoft, and Meta. With improvements in models, generative AI applications are expected to become bigger and more powerful in 2024. It's predicted to be utilized not just in designing physical products and services, but also in the creation of video and audio content. Furthermore, its applications are expected to surface in many fields, including potential meddling in leadership elections with misinformation, and advancements in education by aiding teachers and lecturers in generating notes and reports. AI engineers are also on a quest to develop "generalized" AI capable of accomplishing various tasks.

What can we learn from this?

The rapid advancements in Generative AI in 2024 will significantly reshape various aspects of our daily lives, including deepening AI involvement in politics, automation in design and video production, and AI-augmented services in diverse sectors such as education and applications. Such transformations would provide lucrative potential, demanding strategic readiness. However, it also stresses the importance of developing effective regulatory perspectives and understanding the societal implications induced by these ground-breaking technologies.

K.L - Business Edge

OpenAI is upgrading GPT-4 with image recognition capabilities but is also warning users about potential safety risks. The upgrade, dubbed GPT-4V, has safeguards to limit exposure of private data or misinterpretation of images. Notably, the AI model may fail to identify certain elements in images or could generate misinformation. OpenAI aims to use GPT-4V to respond to user queries about submitted images. The company is also integrating voice input support for its ChatGPT Plus users on iOS and Android.

Humata AI, an AI platform that summarizes and answers questions about data-intensive documents, has secured $3.5 million in funding. The platform, hailed as a tool to aid in prompt decision-making, has quickly attracted millions of users since its February launch.

OpenAI's recent update to ChatGPT Plus has been criticized for its limited and ineffective web browsing feature, Browse with Bing. Reviews favor the existing WebPilot plugin, citing its superior performance and reliability.

Extra

Remember to check our ChatGPT plugin directory. We now have +830 plugins listed.

K.L - Business Edge

Markets & Money

Mega-cap tech stocks are trading at their largest relative discount in six years, says Goldman Sachs. Despite a downturn, analysts predict these stocks could outperform the broader market for years as earnings set to spur momentum. Companies like Apple, Microsoft, Amazon, Google, Nvidia, Tesla, and Meta are expected to see an 11% sales growth in Q3, compared to an estimated 1% for the S&P 500 aggregate. Furthermore, superior sales growth, promising earnings seasons, and a moderation in the US Treasury market could drive these stocks' rebound.

Key takeaways

Mega-cap tech stocks, dubbed the 'Magnificent Seven', are slated to outperform the market per Goldman Sachs, appealing to tech investors seeking high growth. The potential resurgence following substantial valuation drops may bring lucrative opportunities, especially considering positive earnings and sales growth predictions through to 2025. The anticipated moderation of the US Treasury Market could further solidify tech investment choices. However, concerns about sustained inflation and fading AI hype may influence market dynamics.

K.L - Business Edge

Apps & Gadgets

Google's upcoming event on October 4th is set to unveil the Pixel 8 and updated Pixel Watch 2. Enhanced features, and new colors for Pixel Buds Pro, and Android 14 release are the highlights.

The next-generation Apple Pencil may feature interchangeable magnetic tips with diverse shapes for user needs. Additionally, a significant update is expected for iPad Pro in 2024, including an OLED display.

Apple is expecting to introduce micro-LED display technology in its Apple Watch as early as late 2025, with potential for a major redesign next year.

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