In this episode, the hosts discuss OpenAI Dall-E 3 release and the impressive developments of Tesla's Optimus Robot. They explore the applications and impact of AI models on management consultants' performance. They also discuss the potential impact of automation on jobs and the challenges and opportunities it presents.
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Quick takeaways
OpenAI Dall-E 3 allows users to prompt the text image model in a conversational format, eliminating the need for trial and error prompt engineering.
Using AI models like GPT-4 can significantly enhance the performance and speed of management consultants, leading to a boost in overall productivity and raising questions about the future of work.
Deep dives
Dolly 3 and Chat GPT: A New Approach to Prompting
OpenAI announced Dolly 3, the third iteration of their text to image model, which will be embedded directly into Chat GPT. This integration allows users to prompt the text image model in a conversational format, eliminating the need for trial and error prompt engineering. Users can engage with the model in a natural conversation, prompting it for specific images or even asking questions about the generated images. This new approach not only lowers the barriers to entry for users but also has the potential to create new and exciting entertainment formats that combine text and images.
The Productivity Boost with AI: Insights from the BCG Study
A recent study by Harvard Business School and Boston Consulting Group (BCG) found that using AI models like GPT-4 can significantly enhance the performance and speed of management consultants. The study reported a 40% increase in performance and a 25% increase in speed, resulting in an overall productivity boost of approximately 75%. These findings highlight the potential of AI augmentation to improve labor efficiency and effectiveness in various industries. However, the implications for the labor market and the distribution of benefits remain uncertain, raising questions about the future of work and the need to reevaluate existing economic models.
Tesla's Optimus Robot and the Market Potential of Humanoid Robots
Tesla's Optimus robot, which was unveiled a year and a half ago, showcased impressive progress in a recent video release. The robot demonstrated its ability to separate and manipulate different colored blocks, showcasing end-to-end visual learning. While the market potential for humanoid robots is challenging to quantify, there is speculation about the development of an app store-like ecosystem for skills that can be downloaded and paid for. This would allow consumers to customize and enhance the capabilities of their humanoid robots, potentially leading to increased productivity and new business opportunities. The impact on the labor market and the allocation of work hours raise important questions about economic models and the future of work.
If you know ARK, then you probably know about our long-term research projections, like estimating where we will be 5-10 years from now! But just because we are long-term investors, doesn’t mean we don’t have strong views and opinions on breaking news. In fact, we discuss and debate this every day. So now we’re sharing some of these internal discussions with you in our new video series, “The Brainstorm”, a co-production from ARK and Public.com. Tune in every week as we react to the latest in innovation. Here and there we’ll be joined by special guests, but ultimately this is our chance to join the conversation and share ARK’s quick takes on what’s going on in tech today.
This week, Associate Portfolio Manager Nick Grous Autonomous Technology and Robotics Director of Research Sam Korus are joined by Research Associate Andrew Kim. Together they discuss OpenAI’s Dall-E 3 release and the impressive developments of Tesla’s Optimus Robot.
Key Points From This Episode:
Intro
OpenAI Dall-E 3
Tesla Optimus
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