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March News Roundup: AI and Machine Learning – Trend or Evolution?
Welcome to our monthly column, and today we’re going to share with you the news from March. Artificial intelligence and machine learning make a significant impact on the tech industry but stand the question this is a trend or an evolution of AI. To get the answer, read our article.
A brief preview:
- Bart is back with a new answer to counteract ChatGPT;
- Nvidia, Microsoft, and Canva introduce AI in their platforms;
- New Android 14 updates and functionality;
- A point-of-sale (POS) system is a helpful tool for businesses;
- How Regulation technology (reg-tech) prevents bank collapses.
Let’s dive into detail.
Bard Came Back with the New Answer to ChatGPT
Giving an incorrect response to a question, Bard failed his first beta test. But, after a second attempt, a chatbot is ready to use with many new functions and upgrades. When you join the conversation Bard greets you with a polite and somewhat sweet introduction. Bart’s AI chatbot launched with a more user-friendly interface and many new features were added to Bart.
Unlike ChatGPT, Bart stood out because it can communicate, responds to questions more quickly, has a special button that allows you to google the information provided by the bot, edit previously set questions and there are other functions. Among the negative features is that Bart does not cite sources and probably does not check the text it sends, and the text may repeat sentences.
While Google’s first release of Bard had some difficulties, the product ultimately met or exceeded expectations. The chatbot is personable and conversational, giving the impression of a helpful virtual assistant. Google Bard is already a lot of fun to use, and it has the potential to radically alter the search experience.
Nvidia, Microsoft, and Canva Introduce AI in Their Platforms
With the success of AI chatbots like ChatGPT and Bart, many small and big businesses are looking to integrate chatbots into their platforms. And this trend continues to develop and improve.
- Nvidia has released AI cloud services targeted at businesses, to facilitate the creation and training of AI models with confidential info. Together, Nvidia and Adobe will build next-generation AI models to ” improve creative processes,” with an eye on new approaches to advertising and media production. It follows hot on the heels of Adobe releasing Firefly, an artificial intelligence art generator that can compete with the likes of Midjourney and Stable Diffusion. In the meanwhile, Shutterstock announced an industry-first partnership to provide 3D text modeling to its site, with Nvidia Picasso serving as the training and generation platform. The business plans to release the generative AI in both its graphic design software, Creative Flow, and its professional 3D asset portal, TurboSquid. No release date has been announced, but Shutterstock says the models will be unveiled “in the coming months.”
- Microsoft integrated AI into Bing’s search engine named Copilot. Copilot is driven by the same prompt-based AI that powers ChatGPT, which means that Microsoft 365 may compose complete emails and reports based on as little as a single phrase of written command. Using the Responsible AI Standard and decades of study, Microsoft has developed Microsoft 365 Copilot with a focus on business data protection and privacy. Copilot does not use user content or individual requests to train its massive language models. Microsoft 365 Copilot will provide scalable AI for businesses. Microsoft’s recent announcement of Dynamics 365 Copilot as the first AI Copilot in CRM and ERP heralded the arrival of cutting-edge AI across all business functions. Now, you can use Copilot with Microsoft Word, Excel, PowerPoint, Outlook, Teams, Microsoft Viva, Power Platform, and other productivity tools. Pricing and license details will be announced shortly.
- Canva has also announced the rollout of new AI capabilities throughout the site to streamline design processes for brand-conscious marketers and creative teams. At the company’s Canva Create event, the new Assistant was added allowing users to easily navigate the app more, make design suggestions, and have rapid access to tools like the artificial intelligence writer Magic Write. Even more, improvements have been made to the business’s Visual Suite, which is aimed at the workplace, so that “creative teams may not only work quicker, but also smarter,” as the company puts it.
New Android 14 Updates and Functionality
Google launched the second Android 14 developer preview on March 8, marking another major step towards the Android 14 final release later this year. Using our Android 14 installation instructions, Pixel users may install this preview on their devices immediately, however, people with devices from other manufacturers will have to wait a few months for the beta releases. But, these early previews also offer us a solid indication of what additions and adjustments to anticipate.
Let’s examine what’s new in Android 14 and the most important Android 14 features that are now worth learning.
- Satellite communication for emergencies when there is no mobile service.
- Scaling font, the users can scale sizes up to 200%.
- Notification flashes provide an opportunity for people who are deaf. You can turn this feature on or off in the settings.
- Language enhancements with the Grammatical Inflection compatibility for gendered languages like French and German.
- Another language-related change allows developers to “customize the language list by area, execute A/B tests, and deliver updated languages if your app supports server-side translation pushes.”
- Geographical preferences give opportunities to use Euro-style measures, calendars, and other systems.
- Modifications to increase battery life.
Android 14 hasn’t been officially released yet, so that’s all we know for now.
A Point-of-Sale (POS) System is a Helpful Tool for Businesses
An integrated point-of-sale (POS) system is renowned for its various benefits for enhancing company operations in any industry, whether online or offline. Additionally, the need for POS systems is increasing daily, and the software industry is predicted to increase from $17.66 billion to $30.86 billion by 2025, according to research.
An integrated point-of-sale system is a platform that shares sales information with other business programs. A sales ledger and a cash register were the only components of older POS systems. But today this system is automated and will help to quickly perform any process.
POS integration influences every area of your company, from taking different payment methods and remembering consumer purchase preferences to handling inventory and receipts. When an integrated POS system simplifies your operations and eliminates administrative work, your staff can concentrate on providing outstanding customer service. In addition to streamlining the checkout experience, an integrated POS system may provide you with vital information about your customers’ purchasing trends and behaviors. This information may be used in a shop or cafe, but it can also be shared with internal UX analysts, brand marketers, and price teams to assist boost the profitability of marketing efforts.
How Regulation Technology (Reg-Tech) Prevents Bank Collapses
Many businesses are worried about the possible crisis and also about the mass layoffs at large IT companies. According to layoffs. fyi, around 156,242 people were terminated, making the situation very tense. It is uncertain what will occur next, but increasing interest rates and panic provide a highly uncertain picture for the next days and weeks. One entrepreneur believes that crisis can be bypassed thanks to one of the methods – the use of regulation technology or reg-tech.
What is this technology, and how will it benefit society? Reg-tech was an innovation that arose out of the last crisis in 2008. This time, it could be the technological answer to improving financial reporting and risk management that could potentially prevent the next crisis.
The point is that the financial regulatory system relies excessively on the judgment and competence of banking regulators. Financial reporting remains unchanged despite digitization. It is built on a system where central banks monitor and regulate the global financial sector based on information released by banking companies.
Reg-tech might allow the financial sector to migrate to a regulator-led pull-based system, where information is pulled at source, analyzed, and modeled in real-time with future trends predicted continually, providing constant industry oversight. Utilizing the reg-tech might get direct access to banks and do much of this research without alerting markets or causing panic.
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