Duolingo’s stock price surged over 8% on Wednesday fueled by optimistic price target revisions from leading analysts. This positive outlook is attributed to the company’s strategic use of generative AI and large language models. Additionally, a moderate level of short interest combined with a low float creates a potential for a short squeeze, adding to the stock’s volatility.
Spotify’s AI Playlist feature, which uses generative AI to create personalized playlists based on text prompts, is now available to Spotify Premium subscribers in the US, Canada, Ireland, and New Zealand. Previously in beta for users in Australia and the UK, the feature allows users to either choose from suggested playlist ideas or type in their own prompts to generate a playlist of 30 songs.
Despite facing macroeconomic headwinds and intense competition, Adobe’s (ADBE) focus on generative AI (GenAI) presents a potential catalyst for recovery. Its Firefly family of creative GenAI models is driving significant growth, attracting a vast customer base and bolstering future projections. However, uncertainties in the economy and intense competition in the AI software space present challenges for the stock.
GE Aerospace has unveiled its new AI platform, ‘AI Wingmate,’ to empower its workforce with generative AI capabilities, aiming to boost productivity and innovation. This move highlights the company’s commitment to AI integration, further solidifying its position as a leader in the field.
India is at the forefront of Generative AI (GenAI) adoption, with 81% of organizations embracing this technology, according to a new report by Elastic. This surge in GenAI adoption is fueling investment in AI initiatives and pushing IT service providers to integrate GenAI into their core development processes. The report highlights how AI is revolutionizing engineering workflows, accelerating project timelines, and prompting organizations to prioritize AI upskilling programs.
Generative AI, once a technological marvel, faces a looming crisis: skyrocketing energy costs and diminishing returns. However, the industry is adapting, with smaller, specialized models, innovative chips, and a shift in focus from brute force to ingenious solutions. This could lead to a diverse AI landscape with multiple players, challenging the dominance of established giants. The competition is fierce, and governments must rethink their strategies, prioritizing talent and innovation over mere capital and computing power.
A new study reveals the significant environmental impact of generative AI, highlighting the water and electricity demands of ChatGPT, even for basic tasks. The research shows how the location of data centers and cooling methods influence resource consumption, with some areas requiring significantly more water than others. The study also emphasizes the massive energy requirements of AI, with ChatGPT’s electricity consumption comparable to powering thousands of homes.
Amazon has launched a new AI-powered personal assistant named ‘Project Amelia’ in beta for U.S. sellers. This innovative tool aims to simplify selling on Amazon by providing personalized advice, insights, and even taking action on sellers’ behalf.
Energy giant Schlumberger and tech leader NVIDIA have joined forces to develop cutting-edge generative AI solutions for the energy industry. This partnership aims to leverage AI to optimize operations, boost efficiency, and reduce carbon emissions, potentially revolutionizing the sector.
Alibaba has launched over 100 new open-source AI models, named Qwen 2.5, designed for various applications. The company also upgraded its flagship model, Qwen-Max, and introduced a text-to-video generation tool, similar to OpenAI’s Sora. Alibaba’s move is part of its aggressive expansion into the AI space, aiming to rival Microsoft and Amazon.
