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- Tiny Titans Are Taking Over!
Tiny Titans Are Taking Over!
Battle of open-source small language models...
Brian Hanson
April 25, 2024
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Welcome to Another Issue of
AI for Business
Hey there! š
Howās your week going?
Today, weāre diving straight into tiny but mighty AI models, on-device language processing, and real-world business applications that are changing the game, and a peek at Adobe's latest creative magic.
Ready to see what's new and how it can work for you?
Let's get into it! š
Read time: 4 minutes
TRENDING AI NEWS
What happened: Microsoft has announced Phi-3, a new family of open-source small language models (SLMs) that punch well above their weight class in terms of capabilities.
Despite their tiny size, the Phi-3 SLMs can handle complex language tasks, coding, math and more while requiring significantly less computing power than large models.
The Phi-3 family overcomes previous limitations of SLMs to enable new AI use cases like:
On-device deployments for mobile, IoT, edge with low latency and data privacy
Cost-effective, localized AI for businesses with limited cloud resources
Quickly building and iterating on custom AI assistants, chatbots, automations
Hybrid architectures combining SLMs and large models for optimized performance
Key advantages of the Phi-3 SLMs include:
Faster speeds
Lower compute requirements
Ability to run offline/locally without cloud connectivity,
and easier customization for specific use cases.
Microsoft is open-sourcing the Phi-3 models across cloud platforms to drive accessibility.
What happened: Apple has released OpenELM, a series of four ultra-compact language models ranging from 270M to 3B parameters, hinting at the company's strategy for bringing generative AI to its devices.
The open-source OpenELM (Open-source Efficient Language Models) are designed to run tasks like email writing extremely efficiently on-device:
Even smaller than other "tiny" AI models like Microsoft's Phi-3
Optimized for running natively on Apple Silicon chips in iPhones, Macs etc.
Could enable AI capabilities without internet connectivity required
Allow developers to integrate on-device language AI.
How you can take advantage of it: You can leverage OpenELM to create applications or tech services that are fully functional offline.
This is particularly beneficial for services in regions with poor internet infrastructure or for professionals who need to operate in remote areas, like field researchers, emergency responders, and frequent travelers.
What happened: Adobe has launched the Firefly Image 3 Foundation Model, marking a significant upgrade in its suite of AI-driven creative tools. This latest model, unveiled at MAX London, is now available in beta and features major advancements aimed at enhancing photorealistic quality and expanding creative capabilities.
Some key enhancements include:
An all-new auto-stylization engine that enables more personalized and higher-quality creative outputs.
Structure and Style Reference capabilities, allowing users to generate images that closely match reference materials.
Significant improvements in text rendering and scene comprehension, making it ideal for complex and detailed creative tasks.
Apply it: For creative professionals and businesses, Firefly Image 3 offers tools to push the boundaries of digital art and design, enabling faster production and more intricate visual content for your ad or marketing campaigns.
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ENTERPRISE MOVES
How global organizations are applying AI in tangible ways and seeing results.
1. šÆ Understanding Customer Behavior
Move: Chipotle is using an AI system to better understand each of its customers' unique dining habits. It helps them track how often customers visit, what they buy, and identify changes in behavior that might indicate a drop in customer satisfaction or engagement.
Action: Imagine applying similar AI insights in your business, using real-time data to offer personalized services or promotions that speak directly to your customers' preferences and needs. That would be amazing!
2. š§¬ Drug Matching for Rare Diseases
Move: Transcripta Bio, a pharmaceutical startup, leverages AI to repurpose and reverse-engineer existing drugs on the market for potential applications against rare genetic conditions.
Action: For healthcare and pharmaceutical companies, adopting AI to explore existing drug libraries for new applications can be a game-changer, potentially leading to breakthroughs in how we treat complex conditions like Alzheimerās or various cancers.
3. āļø Elevating Customer Experience
Move: United Airlines is integrating an AI internal chat system across its operations to enhance the travel experience of its customers, from ground operations to in-flight services, resulting in efficient coordination among gate agents and flight attendants in handling customer interactions.
Action: For airlines and service industry, adopting similar AI tools can help your company manage real-time data more effectively, ensuring personnel are well-informed and enhancing the overall customer experience.
THE AI BUSINESS TOOLKIT
(Our Top 5 Weekly AI Picks)
AI Tools to Supercharge Your Business
Osum: Get instant access to detailed competitive research, SWOT analysis, buyer personas, growth opportunities and more for any product or business at the push of a button
Brandblast: Learns from your website to create and automatically post engaging content for your brandācreate 150 posts in 5 minutes!
Creatify: Generate engaging marketing videos with a single click
Zaplify: Put your prospecting on autopilot.
Octane AI: Collect customer insights with engaging quizzes and grow marketing lists faster with customizable opt-in tools.
WELLā¦ THATāS A WRAP!
Bye for nowā¦
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As always, I'd love to hear your thoughts, questions, or ideas. Don't hesitate to hit 'Reply' and share your insights with me!
Your friend,
Brian Hanson
CEO / Founder
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