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JPMorgan’s AI cuts human work by 90%, AI Showdown - Ultimate guide for AI Assistants in 2024 and early adopters of AI are outpacing their competitors
Sorin Ciornei
March 11, 2024
Welcome, AI enthusiasts
JPMorgan’s AI cuts human work by 90%, AI Showdown - Ultimate guide for AI Assistants in 2024 and early adopters of AI are outpacing their competitors
In today’s newsletter:
JPMorgan says its AI Cash Flow software cut human work by almost 90%
The ultimate guide for AI Assistants in 2024 - AI Showdown: Microsoft Copilot vs. Google Gemini vs. ChatGPT 3.5 vs. Mistral vs. Claude 3
Experts alarmed over AI in military as Gaza turns into "testing ground"
Businesses that are replacing human workers with AI are already dramatically out-performing those that don't
Chinese researchers hope to create real AI scientists
Anthropic Prompt Library
NEWS OF THE DAY
What: JPMorgan launched a free Cash Flow Intelligence AI tool last year for
its corporate customers, and now the bank says the tool has helped some of them cut human-oriented manual work by close to 90%, according to a Bloomberg report.
Key points:
💼 JPMorgan aimed to generate $1.5 billion in business value with AI in 2023.
🔄 Their AI cash flow tool reduced human work by nearly 90%.
📊 The tool is described as an "intuitive AI interface" that analyzes and categorizes cash flows.
💰 JPMorgan may start charging for the service based on its success.
🏦 Other major banks like Bank of America and RBC also offer similar AI tools for cash flow forecasting.
🤖 CEO Jamie Dimon predicts AI may lead to a shorter workweek in the future.
Noteworthy: This is in line with what we have been seeing in the past months in regards to layoffs and workplace displacements. We wrote an article about how knowledge workers are under threat. This week we will deep dive into the layoffs numbers and what this means for professionals in the next years.
EDITORIAL
What: AI Showdown: Microsoft Copilot vs. Google Gemini vs. ChatGPT 3.5 vs. Mistral vs. Claude 3
Key points:
💬 The comparison includes Microsoft Copilot, Google Gemini, ChatGPT 3.5, Mistral, and Claude 3.
🧪 Test scenarios cover content writing, coding in Python, riddles, math questions, and creative writing.
📝 Copilot and Gemini lead in content formatting, while Claude 3 Sonnet provides a rhetorical marketing pitch.
🖥️ ChatGPT 3.5 wins in coding accuracy, outperforming Mistral and Claude 3 Opus.
🤔 All AI assistants answer riddles correctly to varying degrees of comprehension.
Noteworthy: Claude 3 shows it’s very much the same as ChatGPT 4. While it took Anthropic 12 months to catch up, they managed to do it. Claude 3 is available for US/UK customers, but you can use it in the workbench as we did in our comparison.
LATEST NEWS
As the U.S. Department of Defense and military contractors are focusing on implementing artificial intelligence into their technologies, the single greatest concern lies in the incorporation of AI into weapon systems, enabling them to operate autonomously and administer lethal force devoid of human intervention, a Public Citizen report warned last week.
“Just in front of our eyes, we’re seeing companies that are growing 20% to 30%, can now be cash flow break even almost immediately, or within 12 months, by applying generative AI to sales and marketing, R&D, recruiting and other areas of the business,” Thakker said. “And so, we’re seeing this innovation fully impact productivity in the tech sector.”
A company generating $100 million in revenue, which was previously spending $50 million on sales and marketing, can now spend $30 million, he said.
The scientists wrote in a recent paper that they had found ways to train machines with ‘prior knowledge’ such as the laws of physics or mathematical logic
Even cutting edge models such as OpenAI’s text-to-video model Sora are currently unable to ‘accurately model the physics of many basic interactions’
The creators of Claude AI, provide a free to use prompt library that can be used with any other AI like ChatGPT or Copilot.
MIDJOURNEY PICK OF THE DAY
photography of a museum impressionist art exhibition
Check out our guides on how to generate the best Midjourney pictures, from fashion, nature, street art or illustration.