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- 📈 AI Boosts Performance of Below-Average Workers by 43%: Study
📈 AI Boosts Performance of Below-Average Workers by 43%: Study
Today: Unity Revises Pricing | X Adds Paid Subscriptions to Curb Bots | Below-Average Workers See 43% Boost with AI
Kristoffer Lindström
September 19, 2023
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Greetings!
It’s Tuesday, September 19. As the tech world keeps spinning, we're here to keep you in the loop. From major shifts in AI's impact on workforce performance to bold moves from industry leaders like Elon Musk and Unity, there's no shortage of headlines that could shape your next strategic decision. So grab your coffee, and dive into today's top headlines:
Unity Revises Pricing After Founder's Admission
Musk Adds Paid Subscriptions to Curb Bots
Below-Average Workers See 43% Boost with AI
Ex-Neeva CEO: AI Search Disruption Window Closing
Softbank Considers OpenAI Investment
Instacart Targets $9.9B in Upcoming IPO
Tesla Extends Charging to Non-Tesla EVs
and more…
READ TIME: 6.5 MINUTES
Spotlight**
First Disruption to Smartphones in 15 Years🤳
Tech Startup With Traction: Turn your phone from a cost to an income source. Intriguing idea, isn't it? This is why, we have our eyes on the launch of Mode Mobile’s Pre-IPO Offering. It’s the latest in a series of impressive raises among smartphone innovators, likely spurred by Apple’s recent $3+ trillion valuation.
Mode saw 150x revenue growth from 2019 to 2022, a leap that has made them one of America’s fastest growing companies. Mode is on a mission to disrupt the entire industry with their "EarnPhone," a budget smartphone that’s helped consumers earn and save $150M+ for activities like listening to music, playing games, and ... even charging their devices?!
Over 11,000 investors already acquired shares — and with only days remaining prior to their bonus tier closing, allocations are limited.
*Disclosure: Please read the offering circular at invest.modemobile.com. This is a paid advertisement for Mode Mobile’s Regulation CF Offering.
**Sponsored
Tech Companies
Unity founder admits to mistakes with price increase and plans to reverse policy after backlash from game developers. Over 400 companies have joined the boycott of Unity Ads and its IronSource division.
💡 Why does this matter?
This marks a significant shift in Unity's business model, directly impacting game developers. The company's responsiveness to criticism suggests opportunities for developers to influence future pricing decisions and models.
Panos Panay, former Surface chief at Microsoft, is reportedly joining Amazon to oversee its hardware products, including Alexa and Echo speakers. He will be taking over from Dave Limp, Amazon's outgoing hardware boss. Panay's departure from Microsoft comes just before Thursday's company event. Amazon has been expanding its hardware offerings, including robots and home surveillance drones, and is in the process of acquiring iRobot for $1.7 billion.
Oracle and Microsoft have partnered to launch Oracle Database@Azure, a service that integrates Oracle database services on Oracle Cloud Infrastructure within Microsoft Azure datacenters. The move allows customers to manage cloud-based operations with increased flexibility and efficiency.
💡 Why does this matter?
This partnership between Oracle and Microsoft could revolutionize the cloud computing industry, offering customers unparalleled flexibility and efficiency.
Elon Musk is reportedly planning to introduce a paid subscription to use X to combat bots. The goal is to deter their use by making it more cumbersome and expensive. Musk did not disclose the exact cost or features of the subscription plan. X currently has 550 million monthly users, generating 100-200 million posts per day. Musk also addressed concerns about hate speech on X and stated his intention to rid the platform of inauthentic accounts.
💡 Why does this matter?
Elon Musk's plan to add a subscription fee to combat bots on X could significantly alter the platform's user dynamics. The proposed payment will likely be in the low single digits. But will lead to a significant drop-off in X usage.
If the long-term idea is to build X into an “everything” app, it’s a weird strategic move.
White hat hackers discovered a vulnerability in Microsoft's AI research division that exposed 38TB of private data. The vulnerability stemmed from a shared access signature token on GitHub, which Microsoft invalidated. No customer data was exposed.
Startup Scene
Writer, a San Francisco startup, has raised $100 million in Series B funding to expand its AI platform for enterprises. The funding round was led by ICONIQ Growth and included participation from Accenture and Vanguard. Writer's AI models, named Palmyra, offer a range of features and are trained on enterprise-friendly data sources. The company aims to stand out with its auditable and industry-specific models.
Dragos, a software company focused on securing control systems for industrial equipment, has raised $74 million in a Series D round led by WestCap. The funding brings Dragos' total raised to $440 million, maintaining a post-money valuation of $1.7 billion for the second year.
AI Corner
According to a study by Boston Consulting Group, consultants ranked below average benefit the most from using AI. The study involved 758 consultants and found that below-average performers using AI saw a 43% improvement in performance, while above-average performers saw only a 17% improvement. The study also highlighted the risks of over-reliance on AI, as consultants performed up to 20% worse when presented with tasks beyond the AI's capabilities.
💡 Why does this matter?
The study reveals AI's potential as a performance leveler, particularly benefiting those with below-average skills. This could reshape the productivity dynamics within tech companies, potentially creating opportunities for staff development and more effective team performance.
Former Neeva CEO, Sridhar Ramaswamy, believes the window for AI chatbots to disrupt Google's consumer search dominance is closing. Ramaswamy also discusses Neeva's move into the enterprise search space through the Snowflake acquisition. He highlights the unpredictability of AI success and the competition in the knowledge discovery space.
💡 Why does this matter?
This shift from consumer to enterprise AI search by Neeva's ex-CEO suggests a growing appeal of the enterprise search space. Tech entrepreneurs and investors could see new opportunities in creating value in this sector, as AI advancements continue to redefine data accessibility.
Markets & Money
Softbank is considering investing in OpenAI, the maker of ChatGPT. Softbank's boss, Masayoshi Son, has expressed enthusiasm for the chatbot and uses it daily. Softbank's Vision Fund is looking to invest in AI despite previous losses.
Instacart raises IPO pricing range ahead of Nasdaq debut, with shares expected to be priced between $28 to $30. The company could raise up to $660 million, giving it a valuation of $9.9 billion. Instacart reported a net income of $242 million in the six months ending June 30.
Apps & Gadgets
iOS 17 introduces several hidden improvements, including automatic cleanup of verification codes, swipe-to-reply in messages, Siri usage during phone calls, linking of notes, auto-suggestions in Reminders, app shortcuts in Spotlight, a straightness level in the camera viewfinder, quick access and lock of private browsing, new shortcuts for cropping images, and animated Now Playing screens in Music.
Microsoft Paint now supports layers and transparency, allowing users to create more complex digital art. The new features are available with Paint version 11.2308.18.0 or higher. Users can add, remove, and manage layers on the canvas, stack shapes and text, and open and save transparent PNG files. The addition of background removal capabilities and support for background blur in the Windows 11 Paint application were also announced.
Tesla has launched a mobile app integration for its Wall Connector chargers, allowing non-Tesla EV owners to control and schedule charging.
Quick Links
X allegedly shadowbanned The New York Times, reducing tweet access. Surprisingly, the Times, a major X advertiser, experienced decreased engagement while other news sites saw an increase. Elon Musk, who dislikes the Times, expressed joy in removing their verified badge on X. This problem appears exclusive to X, not other platforms. Musk has faced prior accusations of using X to restrict speech.
Square CEO Alyssa Henry is leaving on October 2, and Jack Dorsey will temporarily take over. Henry has worked at Square for over nine years. Dorsey, the CEO of Block, will also become "Square Head." The reason for Henry's departure is unknown. Her leadership transformed Square into a software-led technology company.
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