Your Breakdown of AI News For This Week

I’m sending this out from my hotel room in Los Angeles. The Artificial Conference just finished up and we had some amazing speakers and panels to discuss what’s happening and where things are going in the world of AI. I’m going to organize all my notes and thoughts from this event and share them with you in a future video or newsletter edition but for now, let’s talk about what else is happening in the AI world this week.

It’s actually been another slower week this week. Google and OpenAI had some smaller announcements and a few tools rolled out some marginal improvements but there wasn’t anything earth-shattering this week. Summer break for most is ending and the school year is starting back up, which means, the conversation about students using AI is about to ramp back up again. We’ll also likely see a slurry of new tools and updates from companies that have been quieter over the summer… I’m looking forward to keeping you in the loop on all of it.

Slower weeks like this are a good thing in my opinion. For several months, companies were racing to one-up each other. This likely led to new developments and tools becoming public before they were fully ready. I don’t think things are going to stay slow for long but, for the moment, I’m enjoying having slightly less to talk about.

Either way, let’s break down what I came across this week.

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🛠️ 5 Amazing Future Tools

1. Picsi.Ai: This is a simple Discord bot that can be run along side MidJourney or BlueWillow to swap out the face of any image with the face of anyone else from another image. If you’ve ever wanted to make images of yourself with MidJourney, this is the tool to do it. The free version of this tool will be perfect for the majority of people.
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2. MindPal: Chat and work with all your files (documents, audio/video, YouTube, & websites). This tool helps organize all of your data from practically any file type, chat with the data, and even take separate notes for yourself around the data. They call is a 2nd brain because you can store as much information as you’d like and pull it up to chat with any of it at any time.
(Free & Paid Options)

3. PodStash: Use this tool to turn any website into a podcast. Choose an article or blog post and this will turn that content into an audio file that sounds like it’s being read by real humans. You can then listen to the 5-minute(ish) podcast wherever you enjoy listening to podcasts like Apple Podcasts or Castro.
(Paid)

4. PromeAI: PromeAI is an AI-powered creative design assistant that helps professionals across various fields including architecture, interior design, product design, and more bring their ideas to life. With features like sketch rendering, photo to sketch, erase and replace, image variation, AI models, background changes, and text effects.
(Free & Paid Options)

5. ClearMind: Clearmind is a personalized AI therapy platform that helps users improve their emotional health. It provides customized solutions like meditation, insights, to-do lists, and chatting to address each user's unique mental health struggles. With proven methods adapted to individual personalities, Clearmind allows people to track their emotional journeys and identify behavioral patterns.
(Free)

🗞️ AI News & Articles

1. ChatGPT costs $700,000 daily, maker may go bankrupt in 2024: Report - A new report claims that OpenAI is spending about $700,000 per day to run ChatGPT, resulting in mounting losses that have doubled to $540 million this year. While recent investments from Microsoft and others are currently covering these costs, OpenAI may go bankrupt by end of 2024 if it doesn't start turning a profit soon. The report notes declining website traffic to ChatGPT, competition from open source AI models like Meta's Llama 2, and GPU shortages as challenges. Though a shift to a paid model may have generated revenue, OpenAI's financial situation is still unclear. The report speculates that if OpenAI goes public, it may be acquired by a larger tech company.

2. Forget SEO: Why 'AI Engine Optimization' may be the future - According to industry analyst Jeremiah Owyang, the future of AI will disrupt digital marketing as we know it. As AI chatbots like personal assistants become ubiquitous, marketers will need to shift from optimizing for search engines to optimizing for AI through tactics like training bots on their data and building branded bots. This "AI engine optimization" will be key for businesses wanting visibility as people increasingly use AI rather than search engines for information. Owyang points to big investments in AI companies like Inflection as signs that major players are preparing for an AI-powered future. In short, to stay relevant, marketers must adapt SEO strategies to shape how AI agents discover and recommend information and products. This is something that I speculated on in a tweet X post here.

3. Amazon's Latest AI Tool Summarizes Customer Reviews For You - Amazon has introduced a new AI feature that summarizes customer reviews to highlight common themes and make it easier for shoppers to quickly understand the consensus opinions about a product. Powered by generative AI, the tool analyzes reviews from verified purchases to generate an overview of key product attributes like ease of use and performance. This innovation is part of Amazon's broader push into AI, including providing AI services for companies. It aims to improve the shopping experience by distilling the most useful feedback from customer reviews.

Other News:

• Google Photos introduces new Memories view

• Learn as you search (and browse) using generative AI

• OpenAI acquires Global Illumination

• OpenAI proposes a new way to use GPT-4 for content moderation

📺️ Must-Watch Videos

📢 Announcements

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• I’m Getting Back on Track: This is more of a personal announcement for anyone that makes it this far in the newsletter. I dropped the ball a little bit. I found myself saying yes to a lot of things, going to conferences, going on podcasts, jumping on zoom meetings, and just generally doing a lot of things that weren’t either researching the latest news and tools or creating content. Those are my sweet spots and although I’ve managed to keep on top of them, I’ve slowed way down on the content production because too many other things were consuming my time. But I’m done with conferences for a few months and I’ve started declining meetings, podcasts, and speaking opportunities. I just want to focus on learning, teaching what I learn, improving Future Tools, and tuning everything else out. You might not have noticed but I noticed. I’ve gotten off-track and I’m excited to get things back on track and start challenging myself again to make better and more informative, educational, and entertaining content. It’s what I do and I’ve been doing it less than I’d like to lately.
  

• I’m looking for an additional editor / team member. If you think you might be interested you can find details here.

💰️ A Money Idea To Try

YouTube Thumbnail Creator:

Every single Thumbnail that I use on my YouTube channel is created with AI. I generate the backgrounds to the thumbnails in MidJourney to get a creative and colorful background. I used Dreambooth to train my likeness into Stable Diffusion so that I can generate images with my face. I use the new ControlNet features in Stable Diffusion to get the exact pose that I’m looking for. I then pull the MidJourney background and the Stable Diffusion-generated “Matt” image into Canva to tie them together and to add text over the top.

It takes me probably 20-30 minutes to create a thumbnail following this process but, damn are they effective! Do you know how many people are willing to pay for someone to just do this process for them? You could charge upwards of $50 - $200 per thumbnail and have a solid little business creating a handful of them a day.

Find more AI income ideas at the AI-Income Database here.

Thanks for checking out this week's Future Tools newsletter!

If you haven’t already, be sure to follow me over on X, I like to share news and AI updates as they happen. :)

And don't forget to check out all of the newest tools we've just added on Future Tools!

Finally, if you have any feedback for me or ideas for this newsletter, get in touch! Replying to these emails will get to me and I will read all replies (but may not be able to reply to all). I want to improve this and continue to make it something that you're super excited about each week. So all ideas are welcome!

You rock! See ya next week. :)

Matt Wolfe (FutureTools.io)

P.S. This email was 95% written by a human. Claude checked my grammar for me.