Welcome to Indika AI’s weekly newsletter!
Hello Indika AI Community!
Welcome to this week’s edition of our newsletter—your gateway to the cutting edge of AI! We're thrilled to share the latest breakthroughs, industry insights, and exciting projects from our team. From fresh updates to forward-looking initiatives, you'll get a peek into the innovations driving the future of AI. So, grab your favorite drink, settle in, and join us as we explore the bold advancements that are shaping tomorrow. We’re glad to have you with us on this journey!
Enhancing Virtual Shopping with Precise Apparel Annotation
Indika AI collaborated with a leading fashion tech company to enhance virtual shopping by precisely annotating over 2 lakh fashion apparel attributes. Using polygon annotation and their Data Studio platform, Indika AI accurately labeled intricate details like collars, necklines, and sleeves, empowering AI models for virtual try-ons. This improved customer engagement by allowing shoppers to assess fit and style more accurately, while also achieving 3X faster annotation with superior quality, revolutionizing the online shopping experience.
Read more here.
What’s new in the world of AI?
1. Meta Expands AI Assistant to New Markets Amid Growing Competition
Meta is expanding its AI assistant to more countries and languages as it intensifies its competition in the global AI landscape. The company aims to strengthen its presence by enhancing user interactions with the AI assistant in diverse regions. This move is part of Meta’s broader strategy to capture market share amid increasing rivalry with tech giants like Google and Amazon. The expansion will provide more localized services, enabling users to interact with AI in their native languages and tailored to regional needs.
2. Google Opens Imagen 3 Image Generation to All Gemini Users Worldwide
Google has expanded access to its Imagen 3 model for image generation to all Gemini users worldwide. This advanced model is known for producing high-quality, photorealistic images with vibrant colors, detailed texture, and minimal imperfections. Users can create images by starting prompts with terms like "draw," "generate," or "create," along with specifying the desired style. While the model is available to free users, generating images of people is currently limited to Gemini Advanced, Business, and Enterprise accounts. This update, which follows the initial rollout in May 2024, allows users to explore a wide range of artistic styles, from classic oils to modern digital art
3. 2024 Nobel prize in physics: AI research stirs controversy
The 2024 Nobel Prize in Physics has been awarded to John Hopfield and Geoffrey Hinton for their pioneering work on artificial neural networks, which laid the groundwork for modern AI technologies. Hopfield's creation of the associative memory network in 1982 allowed machines to reconstruct patterns from imperfect data, while Hinton extended this concept into the "Boltzmann machine" in the early 2000s, enabling AI to classify data and generate new examples. Their work has revolutionized AI, driving advances in deep learning and machine learning that have reshaped industries like healthcare and material science. However, the decision to award them the prize has sparked controversy, with critics questioning the appropriateness of recognizing AI research under a category traditionally reserved for physical sciences, raising concerns about the prize's future direction and its implications on the evolving nature of technology.
4. India Leads AI App Downloads Globally, But Revenue Remains Lopsided
India has emerged as a dominant force in the global AI app market, accounting for 21% of worldwide downloads in 2024, with over 2.2 billion AI app downloads in the first eight months. Popular apps include ChatGPT, Google Gemini, and AI-driven image and video editing tools. However, Indian users largely access these apps for free, contributing less than 2% of the in-app revenue, while North America and Europe generate 68% of the revenue. The AI app market is expected to grow significantly, reaching $3.3 billion in revenue by the end of 2024.
And that's it for this week!
As we wrap up this week’s edition, we want to express our sincere gratitude for being such a vital part of our journey. Your unwavering enthusiasm and support inspire us to continue bringing you the most cutting-edge updates in AI and technology.
As you head into the week ahead, embrace the opportunity to challenge the status quo, ignite your creativity, and explore uncharted territory. Let’s continue pushing boundaries together and discovering the next wave of groundbreaking innovations! Here's to the exciting adventures that lie ahead!
Wishing you a productive and inspiring week ahead!
Warm regards,
The Indika AI Team
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