Open AI secures $6.6 billion in new funding

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Here's your curated dose of the most significant events in the AI ecosystem this week:

1. Open AI launches Canvas

2. Google integrates ads into AI Overviews

3. Google makes Gemini Nano available for developers

4. Open AI raises $6.6 billion in funding

OpenAI just launched a new feature called Canvas, designed to make working with ChatGPT even smoother, especially for writing and coding projects. Think of it as a separate workspace where you can keep your project open while chatting with ChatGPT on the side. This means no more losing track of conversations or edits while you work. Canvas also comes with some really handy shortcuts. If you are writing, it can suggest edits, tweak the length, adjust tone, or give your work a final polish by checking grammar and clarity. For coding, it can review your code, fix bugs, and even add comments for you. It is all about making your workflow faster and more seamless. For now, this feature is only available in beta for ChatGPT Plus and Team users, but it will be rolling out to more users soon.

Google has taken a big step by integrating ads into its AI-powered search feature, AI Overviews. This update, revealed at Google Marketing Live, allows businesses to show relevant ads alongside AI-generated summaries for certain search queries. Currently available to mobile users in the US, this move helps users find products and services more easily without needing additional searches. Google ensures transparency by labeling these ads as “Sponsored,” and businesses can better connect with shoppers through these targeted placements. Shopping-related ads are also expanding to Google Lens, a tool used for visual searches.

By the end of the year, Lens users will see shopping ads in their search results, offering product reviews, price comparisons, and availability across retailers. This strategy not only enhances the shopping experience but also gives advertisers new ways to reach high-intent shoppers. Additionally, Google plans to launch a tool later this year to flag AI-generated images in search results, promoting transparency and reducing misinformation.

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Google is giving developers a chance to explore Gemini Nano, its AI model, directly on Android devices, starting with the Pixel 9 series. This means app developers can now experiment with adding AI-powered features like rephrasing, smart replies, proofreading, and summarization into their apps. The best part of this development is that it is all done on the device itself, which helps keep your data private. At present, developers can play around with text-based prompts, but support for images and other features is coming soon. Using the AI Edge SDK, they can also tweak how Gemini Nano works in their apps, making it more tailored to what users need. Google has also made it easier to share images with Gemini Nano. Instead of going through multiple steps, users can now share images straight from apps like Google Photos, making the whole process more convenient. Although it's limited to images for now, it is an applaudable move towards a more seamless user experience.

OpenAI just raised an incredible $6.6 billion in funding, solidifying its spot as a leader in AI. With this latest investment, led by Thrive Capital, the company is now valued at a staggering $157 billion. Big names like Microsoft, Nvidia, and SoftBank also joined in, showing just how much confidence there is in OpenAI’s future. This new funding will help OpenAI expand its research, build more computing power, and develop even better AI tools. But despite its lead, the competition is heating up. Companies like Anthropic and xAI, along with tech giants like Google and Amazon, are all making moves to push AI innovation further. With ChatGPT reaching over 250 million users and bringing in significant revenue, OpenAI is in a strong position. However, the company still faces challenges from rising costs and new competitors. It is going to be interesting to see how they continue to stay at the top of their game.

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