AI Insights Newsletter – 3rd June 2024

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Welcome back everyone to another AI Insights newsletter by NotCentralised. We explore the interesting things we’ve been finding on the world of AI this past week and synthesise it for the things we think you should care about.

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

NC Show – Episode 4 

In this new episode of The NC Show, we talk to Mark Dwyer from Paiid, who have partnered with us to push SIKE into the financial services space. He just came back from a Visa Conference in the USA and had some great insights for AI in finance.

Canva Create

Canva Create is over and had some great new features driven by AI that were showcased. A great rundown of that is here on X by @CodeByPoonam – link.

Real Life AI Build Club

A real life Hacker Hostel (for those who know the hit show Silicon Valley) is here for AI as Annie Liao of the Build Club launches an actual spot for builders to … well build. See more on LinkedIn.

As well as the full article in The Australian here.

 

Controlling the chaos in AI

Here’s an interesting video from Machine Learning Street Talk which dives into the concept of control theory when it comes to LLMs. Given they are proabilistic models, understanding how they work and what sort of controls we can have on them is very important.

In this talk, what they found was that even if a system is designed to give the next likely token (like most LLMs are), it can be made to give the most unlikely if prompted in a certain way. They talk about the certain degree of control that you give to the outside world to the potential outputs from the system so there is a need to be wary of this and they also discuss how it is better to make changes at the prompt level and increase robustness at the software layer.

This is similar to the reduction of randomness that we’ve spoken about in previous blogs and podcasts (video discussion below).

AI Shaping the Future

Great video from Forbes here on how AI will shape our future

AI Skepticism

But to counter that, and important to note, is this piece covering AI scepticism. The video critically examines Silicon Valley’s culture of hype and speculative investment, highlighting how tech trends like big data and AI are often overhyped to maintain high valuations and investor interest. It argues that many tech companies prioritise showmanship over real innovation, resulting in unprofitable businesses propped up by continuous capital injections. The video suggests that AI is the latest in a series of overhyped trends, following the same pattern as previous technologies that failed to deliver on their grand promises.

Critiques are important but equally so, it’s important to have some perspective too and we have the following thoughts on the critiques of AI

  • Incremental Progress: While initial promises may seem overhyped, many technologies, including AI and big data, have led to substantial incremental progress and practical applications across various industries.
  • Innovation Ecosystem: The culture of speculative investment and hype fosters a dynamic innovation ecosystem, driving rapid advancements and encouraging ambitious projects that can lead to significant breakthroughs.
  • Long-Term Benefits: Even if not immediately profitable, sustained investment in tech trends lays the groundwork for future innovations and industries, contributing to long-term economic growth and societal benefits.


You can watch the full video here

Concerns at OpenAI

Interesting breakdown of a talk by Helen Toner who was on the OpenAI board and was part of the group initially ousting Sam Altman. Some insights here into the inner working from her point of view

Matt Wolfe breaks it down too and seeing those who know AI concerned as they are is certainly worth understanding given the reliance many have on OpenAI.

SIKE Example: Federal Budget Papers

Finally, a reminder to those who might not have seen it, but you can see more about how SIKE works in this example diving into the recent Federal Budget papers.

GAN Progress

Very interesting paper here that takes the copying of human facial expressions to AI avatars to another level (even covering off on wrinkles and more details than before). See the research here.

Deep Fake Tracker

We’ll need to be aware of the AI fakes out there that are increasing, and Wired has been keeping track of this sort of thing (like this deep fake of Donald Trump with black voters). See more here.

Netflix of AI

Taking it further, the team at Fable Studio (who brought us fake South Park episodes made with AI) have come up with the capability for everyday people to prompt and watch their own TV shows – check out this video from Theoretically Media.

Also, our friends at Transhuman Coin have been partnering with Fable to bring this stuff to life – check out this recent video they shared.

The future is coming at us fast, that’s for sure!

 

Also, if you missed it, below is a video showcasing the different ways in which SIKE can help us understand the Federal Budget. From ad-hoc queries, to AI agents with set parts to look for and even synthesising stories with your very own political economist. Check it out below.

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.

Nick
Bishop

Nick spearheads product strategy and institutional business development, leveraging a rich background spanning 23 years in capital markets and financial services across the UK, the US, and APAC.

In 2020, Nick transitioned into startups, bringing extensive experience in asset management and corporate advisory from roles including Director, Head of Australian Fixed Income at Abrdn and Managing Director, Head of Corporate Credit at Gresham Partners. His expertise extends to client management across the government and private sectors.

With a First Class degree in Law and Criminology and Chartered Financial Analyst experience since 2002, Nick is known for his energetic and creative approach, quickly appraising business models and identifying market opportunities.

Beyond his role at NotCentralised, Nick actively contributes to multiple startups and SMEs, holding various Board and advisory positions and applying his institutional expertise to early-stage ventures. Nick is fascinated by emerging technologies with significant societal impact and loves to immerse himself in nature.

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.