👀 WhatsApp is Meta AI's top platform

Welcome back to a new edition of AI Odyssey!

TL;DR

• WhatsApp is Meta AI's top platform, but it still trails ChatGPT in areas like coding and image recognition.

• OpenAI seeks $7 billion in funding, asking investors for a minimum $250 million commitment.

• Apple's new AI tools in iOS 18.1 clean up photos and summarize emails, with major updates coming in 2024.

• Arcade lets users design jewelry with AI, raising $17 million and planning to expand into home decor.

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1: Meta AI’s biggest success? WhatsApp.

A year after Meta introduced its AI assistant, most daily users come from WhatsApp, especially outside the U.S., according to internal data. Meta AI usage on Facebook follows closely, while Instagram trails behind.

• Meta AI’s most popular uses are research, writing, and content creation.

• WhatsApp is the top platform for Meta AI, but its users generate less ad revenue than U.S. users.

• Meta plans to enhance its AI at the Connect developer conference, aiming to challenge OpenAI’s ChatGPT.

Meta aims to become the world’s top AI assistant, with 185 million weekly users, close to ChatGPT's 200 million. However, Meta AI still lags in certain areas, like coding and image recognition. The company hopes upgrades, including Llama 3's improved capabilities, will close the gap.

2: OpenAI asks investors for $250 million minimum check in $150 billion valuation found

OpenAI is in late-stage talks to raise between $5 billion and $7 billion in a new funding round, led by Thrive Capital with a $1 billion commitment. Investors like Microsoft, Nvidia, and Apple are also expected to contribute $2 billion to $3 billion, potentially mixing cash and resources like computing power. Notably, OpenAI is asking investors to commit at least $250 million, according to insiders.

This high bar is part of OpenAI's strategy to manage its cap table efficiently, limiting the number of direct investors. The company is also hinting at a shift toward a more traditional venture-backed structure, possibly moving away from its current for-profit subsidiary model.

With a jaw-dropping $150 billion valuation, OpenAI is courting major global investors, including those in the Middle East, making it clear the company operates on a scale few others can match.

3: Apple Intelligence debuts modest AI features, but bigger things are coming

Apple launched its first wave of AI features with the public beta of iOS 18.1, including tools for cleaning up photos, summarizing emails, and improving written text. While useful, these tools offer just a glimpse of Apple's broader AI vision.

Key features:

• Photo clean up: Easily removes unwanted objects from images, similar to Google’s Magic Eraser. It’s simple, but lacks fine control.

• Writing tools: Proofread, summarize, and rewrite text with generative AI, though the tool isn’t as flexible with certain types of content.

• Email summaries: Offers quick overviews of emails, both in list view and within individual threads.

Still to come: Major updates like text-to-image features and deeper Siri integration are expected later in 2024 and 2025, promising more advanced and personalized AI capabilities.

4: Bling it on: Arcade’s AI-powered jewelry design revolution

Mariam Naficy, known for founding Minted, has launched Arcade, a startup that lets customers design custom jewelry using AI. Shoppers simply type in a few words, and Arcade’s AI generates unique designs, which are then crafted by artisans in places like India and Italy. Investors, including Reid Hoffman, are backing this vision with $17 million in funding.

Why it matters: Arcade empowers customers to create personalized, high-quality jewelry without needing design skills, while artisans benefit from new business. This AI-driven approach could reshape how consumers shop for custom products, reducing unsold inventory and expanding possibilities beyond jewelry.

What's next: Naficy hopes to expand Arcade into home decor and other categories, using AI to make personalized products accessible to everyone.

That’s a wrap! See you again for a fresh dose of AI Odyssey soon. 😎