As xAI announced a massive $6 Billion fundraising round at a whopping $24 Billion valuation, Elon Musk has spoken publicly about the need for massive amounts of data to train models that are echoed in his comments from a month ago “The two sources of unlimited data are synthetic data and real-world video,” and that “Tesla has a pretty big advantage in real-world video.”
McKinsey and Company, in a June 2023 report, says that Generative AI is posed to unleash the next wave of productivity and estimates that generative AI could add the equivalent of $2.6 trillion to $4.4 trillion annually across the 63 use cases. Moreover, industry pundits pretty much agree that Generative AI will impact each and every vertical significantly. CXOs now know that Generative AI not only increases productivity and operational efficiency but is necessary for sustained competitive advantage. They have initiated projects with utmost urgency, allocated significant budgets and tasked talented people to make Generative AI a part of the company ethos. This is possibly the biggest, fastest and most widely applicable tectonic shift the world has seen.
iNDICA NEWS BUREAU- Deloitte has launched its Global Generative AI Market Incubator to promote innovation in generative AI and serve businesses in India and across the globe. With the generative AI boom leading to its soaring global demand, it is a significant step towards nurturing tech innovation and talent in India and enabling enterprises to […]
