Welcome to Another Issue of
AI for Business

Happy Fri-yay!

AI's getting smaller, smarter, and more accessible.

OpenAI's new GPT-4o mini is punching above its weight class…

Meanwhile, Mistral and NVIDIA team up to bring NeMo to the public (turns out he wasn't lost, just really small)…

And… OpenAI's playing games to make AI outputs more human-friendly. 👀

Let’s jump in! 🦘

Read time: 3.5 minutes

TRENDING AI NEWS

🤖 GPT-4o Mini: Small but Mighty AI at a Fraction of the Cost

What happened: OpenAI has announced the release of GPT-4o mini, a new small language model that offers high performance at a significantly lower cost compared to GPT-4o model which is designed to make AI more accessible and affordable for a wider range of applications.

Here’s why it’s cool:

• GPT-4o mini costs 15¢/million input tokens and 60¢/million output tokens, over 60% cheaper than GPT-3.5 Turbo.

• It scored 82% on the MMLU benchmark, outperforming competitors like Google's Gemini Flash (77.9%) and Anthropic's Claude Haiku (73.8%).

• It supports text and vision inputs, with a 128K token context window and up to 16K output tokens per request, with plans to add audio and video capabilities in future updates.

How cool is that? 😎

🌟 Meet the Small Mighty NeMo

What happened: Mistral AI and NVIDIA have jointly released Mistral NeMo 12B, a new state-of-the-art language model designed for enterprise applications.

This model combines Mistral AI's expertise in training data with NVIDIA's optimized hardware and software ecosystem.

What NeMo can do:

• NeMo 12B excels in multi-turn conversations, math, reasoning, world knowledge, common sense reasoning, and coding, with a 128K token context length.

• It uses 12 billion parameters in FP8 data format, designed to fit on a single NVIDIA L40S, GeForce RTX 4090, or RTX 4500 GPU.

• The model's design allows for high efficiency and low compute costs, making advanced AI more accessible to businesses.

⚔️ OpenAI Puts AI in Play: Prove Me Wrong, Prove Me Right!

What happened: OpenAI has introduced a new training method called ‘Prover-Verifier Games’ to improve the legibility and verifiability of text produced by strong language models, particularly for complex tasks like math problem-solving.

Here’s how it works:

• The technique involves a "Prover-Verifier Game" where a stronger AI model (the prover) works to convince a weaker model (the verifier) that its answers are correct.

• Through repeated rounds of this game, the prover learns to create solutions that are both accurate and easier for the verifier to confirm.

• This method increased accuracy by around 50% compared to focusing only on correctness, making the solutions more easily checkable by humans.

• OpenAI tested this approach on grade-school math problems and plans to apply it to more complex areas in the future.

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ENTERPRISE MOVES

How global organizations are applying AI in tangible ways and seeing results.

1. 🚀 Enhancing Production Efficiency

Move: EthonAI, a Swiss-based company, has adopted an advanced AI system called Manufacturing Analytics System (MAS) designed to enhance manufacturing efficiency by providing real-time insights into their production process.

Action: Adopt AI-driven systems that consolidate and analyze production data from multiple sources to provide actionable insights, enabling informed decision-making and enhanced operational efficiency.

2. 🎨 Personalizing Beauty with AI

Move: Amorepacific, a South Korean beauty company, is using AI technology to help beauty enthusiasts find their perfect foundation shade.

Their AI-based service analyzes a user’s skin tone through a smartphone app, providing a customized foundation match to ensure a flawless look.

Action: Implement AI-driven personalization tools in your business to offer customized product recommendations, enhancing customer satisfaction by meeting individual preferences and needs.

3. 🗺️ Creating Customer Journeys

Move: Byway, a travel company, is using AI to help travelers slow down and take the scenic route. Their AI-driven platform curates personalized, slower-paced travel itineraries that emphasize scenic routes and sustainable travel options.

Action: Leverage AI to create personalized and unique customer experiences that bespoke journeys that align with your customer preferences, promoting sustainability and enhancing overall satisfaction.

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THE AI BUSINESS TOOLKIT

(Our Top 5 Weekly AI Picks)

AI Tools For Modern Businesses

• RenderNet: Create AI images with character consistency.

• Voice Isolator by Eleven Labs: Strip background noise for film, podcast, and interview post-production.

• Gamma: Create unlimited presentations, websites, and more—in seconds.

• Cuppa: Start driving traffic with AI blog content to your site in less time than it takes to brew your morning.

• AnyoneCanAI: A simpler & faster way to create valuable products with AI.

WELL… THAT’S A WRAP!

Until next time…

Join our private AI group on Facebook and explore more resources and get involved with our community 🤓 

Your AI buddy,

Brian Hanson

CEO / Founder

AIForBusiness.com

[email protected]