AI Insights Newsletter – 15th July 2024

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Welcome back everyone to another AI Insights newsletter by NotCentralised. It was another great week in the AI space with our co-founder on stage for an AI panel and another great podcast talking about AI with Chris from Digital Village. We also dived into AI critiques from the Goldman Sachs analysis (seeing it as more balanced than reported) as well as other reports.

If you’re interested in talking with us about how to get the best out of AI for your work then feel free to get in touch with us either on this contact form or email

It was another great week in the AI space with our co-founder on stage for an AI panel and another great podcast talking about AI with Chris from Digital Village. We also dived into AI critiques from the Goldman Sachs analysis (seeing it as more balanced than reported) as well as other reports.

AI Panel at Fishburners

Our Co-founder Mark was on stage on Thursday chatting all things AI at an event with Fishburners and sponsored by Dell. We heard about the hurdles but also opportunities for startups using AI tools. See LinkedIn post here.

Episode 3 of the Digital Nexus Podcast

Mark was also talking about AI in the news for the Digital Nexus podcast, part of our collaboration with Digital Village. We talked about a variety of topics ranging from the biggest issues business are tackling in AI right now (like inaccuracies), AI plagiarism and security concerns as well as doing something that AI tools can do quite well, analyse the style and tone of the podcast content we’ve created so far.

Watch that episode below

More to the negativity of the Goldman Sachs report 

Also last week, Mark wrote about a bit of the AI negativity coming out in the mainstream media with reports like Goldman Sachs (“Gen AI Too Much Spend Too Little Benefit”) coming out recently. Interestingly, it’s actually a balanced report with both positive and negative views shared equally, despite what the media makes it out to be. In addition to talking about the above, Mark responds to the critiques in his Founders’ Journey blog here (Episode 79).

Aussie startup Artificial Analysis gets a mention by AI celebrities

Great to see local AI ratings engine, Artificial Analysis getting some love by none other than Andrew Ng and Lex Fridman. See this X post from Andrew Ng here.

Delving into AI language

Ever wonder why AI seems to like to say the word “delve”? Blame RLHF and the data it’s trained on. Check out this PubMed chart on use of the word “delve”. See the full X post here

No AI for Nintendo… for now

Nintendo says no to generative AI in their gaming endeavours. Worried about copyright issues they’ve seen with this type of AI is the reason for holding off. More on that here

Further commentary on hallucinations

The barrier of hallucinations (or inaccuracies) is something that holds back corporate adoption of AI and it’s highlighted well in this post from Sam Burrett of Minter Ellison. Mark comments on this topic given we have established ways to reduce inaccuracies. See the LinkedIn post here.

And here’s the McKinsey State of AI report for 2024 that is being referred to in the article. This is similar to the server they did last year where they also highlighted that businesses were mainly worried about privacy and hallucinations when it comes to the use of generative AI. It’s these key reasons that let us to creating SIKE in the way that we have. 

The Startup Podcast on AI

Also, great to see The Startup Podcast cover AI in this episode of their podcast. From the Perplexity scraping websites and ignoring the robots.txt conventions to

 

The slow burn of AI’s impact

Generative AI is taking time to make an impact in big corporations, to our lack of suprise at that. Change takes time but at least the seeds are being sewn. See the LinkedIn post from Ethan Mollick here

The chart in the post comes from the McKinsey repor we mentioned earlier.

Insurer TAL partners with Microsoft

More organisations are getting into the AI space with TAL (the life insurer) signing up to partner with Microsoft to deploy CoPilot and other services to their staff. More on the Microsoft blog.

Canva’s take on AI

If you’ve used PowerPoint and been frustrated at its limitations or used Adobe and been frustrated by its complexity, you may have invariably found comfort in Canva, a homegrown Aussie app that’s beloved across the globe. They think about AI as a feature in their already featue rich product and getting clients from A to B more efficiently. Read more about that here. More in this Verge article.

Get in touch

Stay tuned for more insights from us next week and if you’re interested in SIKE (our privacy focused AI tool), then you can check out more on what it’s about here.

If you’re interested in learning more, reach out to Arturo Rodriguez or 📈 Mark Monfort here and get in touch with us here or on email at we@notcentralised.com.

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Mark
Monfort

Mark drives innovation with his deep understanding of AI, blockchain, and data technologies. His experience spans over 15 years of contributions to finance, technology, and operational strategy across Australia, Europe, and North America.

In 2021, he transitioned from Head of Data and Technology at a leading Australian accounting firm to startups. Prior to this, he worked in equity and macroeconomic research in the capital markets space.

Mark brings a passion for data and insights to NotCentralised. His understanding of AI and blockchain technology is central to the development of workplace productivity and financial system modernisation products, including SIKE and Layer-C. Mark’s dynamic and solutions-focused methods enable the navigation of complex technological landscapes and new market potentials.

Mark holds an Executive Master’s and a Bachelor of Commerce. He led the creation of the Australian DeFi Association and serves on the advisory board for the Data Science and AI Association of Australia. His commitment to such communities demonstrates his enthusiasm for emerging technologies and vision of positive change through technology adoption.

Arturo
Rodriguez

Arturo leads product development and software engineering, applying over two decades of experience in technology, capital markets, and data science. With his years of programming expertise, Arturo smoothly transitioned into blockchain, AI, and machine learning.

Arturo has built and sold technology startups across Europe, following quant derivatives roles in global investment banks. His prior experience includes data projects for the NHS in the UK, Strategic Technology Advisor at Land Insight, and Senior Advisor to OpenInsight, where he built predictive models for vessel usage in commodity markets.

A mathematics and statistics graduate from Stockholm University, Arturo’s early grounding in logic problems and data manipulation techniques is evident in his practical applications. His work building equity derivative pricing models for Merrill Lynch and Royal Bank of Scotland showcased Arturo’s highly specialised skillset.

Arturo relocated from London to Australia in 2020. Beyond NotCentralised, his passion for technology and industry involvement extends to the Australian DeFi Association, which he co-founded, and regular contributions to the Data Science and AI Association.