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🤖 New A.I Tool Threatens Trillion-Dollar Business

🤖 New A.I Tool Threatens Trillion-Dollar Business

Profit Snack
June 19, 2023

Synthetic Mind here with everything you need to know about A.I all in one place. We’re like the J to your PBJ. Without us, you’re just Plain Boring.

It’s Monday. Let’s start the week off right:

🚨 New A.I Tool Threatens Trillion-Dollar Business
📝 New Report Shows How A.I Will Affect The Economy
🐟 Today’s Bytes: Top 7 A.I Tools To 10x Your Productivity
👏 Review Of The Day

Read Time: 4 minutes 32 seconds

🚨New A.I Tool Threatens Trillion-Dollar Business

A.I chips are the fuel of the A.I boom - every A.I model needs chips to run.

To give you an idea, ChatGPT used 10,000 of them when training.

As of now NVIDIA is the biggest A.I chip producer with over 80% of the market share.

But lately there’s been a crisis…

With all of the new A.I tech NVIDIA hasn’t been able to keep up with the demand.

Now there’s a new kid on the block one that threatens to take down NVIDIA’s A.I chip monopoly as its shares have DOUBLED in the last year

AMD announced its new ‘Super’ A.I chip

After the announcement, AMD shares hit an ultimate high.

‘Super’ A.I is a great way of explaining it. The chip will be bigger than NVIDIA’s which means:

Companies won’t need as many chips to run their models.
The chip can handle bigger and more complex models. You know what they say…the bigger the A.I, the bigger the chip.
Offers more memory storage.

This is GREAT news - The more competition there is in A.I, the better the prices, and the better the products.

We’re also expecting AMD to have a much lower cost than NVIDA’s top A.I chip ($30,000) as AMD’s chips have always been lower cost than NVIDIA’s.

But I will say, AMD is facing an uphill battle against NVIDIA - NVIDIA is now a trillion-dollar business and AMD did not mention any buyers lined up.

Especially since Alphabet and Amazon STILL struggle to compete against NVIDIA with their A.I chip rental programs.

But hey, everyone loves an underdog

** Stick around for tomorrow - we’re talking about a group of Ex-Google employees that just raised $113 Million for their ChatGPT competitor!!

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📝 New Report Shows How A.I Will Affect The Economy

We found a new A.I report with some cool insights into the future of A.I.

You can read the full report HERE, but we’ll give you a quick summary with some key points and a few other details most missed.

The big highlight of the report is that Generative A.I (A.I that creates content like videos, images, texts, etc) will add up to $4.4 TRILLION to the global economy…. Every year.

That means A.I will rack in:

$1.3 Trillion MORE than the UK’s entire GDP in 2021.
2.7x more than Alphabet’s (Google) market cap
550 BILLION Chick-Fil-A sandwiches

Pretty impressive.

Here are 3 other takeaways most missed (but are still super cool):

By 2060, half of the global workforce will be automated. On top of that, 60% - 70% of an average employee’s day will be automated. The result? Global productivity will skyrocket and we’ll see a boom in tons of industries.
The 3 industries that will see the most success with A.I automation are pharmacies, banks, and CPG. That’s because they are the most data-focused and follow strict processes. AKA easier to automate.
A.I automation will grow the fastest in countries with developed economies. Developed economies have higher wages - high enough that it cost companies MORE money to pay employees than to pay for A.I. Whereas in undeveloped economies wages are low enough that switching to A.I will cost more money and time than it’s worth.