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Happy Thursday, fellow humans (and aliens?!). 👋

Turns out conspiracy theorists were right all along: Aliens are real.

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Let’s dive into it…

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🧵 In today's edition:

• 🎵 Spotify teases new AI capabilities

• 👑 Amazon goes for the Cloud Crown

• 🏗️ BYOAI - Build your own AI

• 🤑 AI Fundraising News

🤖 Top AI News

🎵 Spotify teases new AI capabilities

After the highly successful launch of its DJ feature, Spotify is ready to upgrade playlists by giving it an AI twist.

During a recent earnings call, CEO Daniel Ek teased some futuristic new features like:

• personalized music recs

• podcast summaries

• AI-generated ads

And it’s all thanks to (you guessed it) generative AI, which Ek says will take Spotify's content "to the next level" with more personalization across the platform.

One idea discussed in the call is using AI to summarize podcasts and help listeners discover new shows more easily. Considering podcasts are relatively difficult to find, this could be huge for podcast creators just starting out.

Ek is also pumped about AI audio ad creation, which could let advertisers instantly test thousands of variations at a fraction of the cost.

This innovation aligns with Spotify's new patent for a text-to-speech system that can mimic realistic human voices dripping with emotion.

Overall: Even as Spotify's revenue and subscriber growth continues to climb, operating losses increased to €247 million.

And as regular users now face pricier premium plans, Spotify is betting on next-gen AI features to keep users engaged and willing to spend $$$.

Read more: TechCrunch

👑 Amazon goes for the Cloud Crown

Amazon dropped some major news during their cloud summit, stating that they had onboarded 1000s of customers to try Bedrock, their service for building AI apps that rivals what Microsoft and Google offer.

The service lets companies build apps using various AI models, and major brands like Sony, Ryanair, and Sun Life are already onboard.

With Amazon’s massive cloud platform and the launch of new AI tools like conversational chatbots and a healthcare transcription service, Amazon aims to be a one-stop shop for everything AI.

Their vision is clear: "Make every company an AI company."

But as we know by now, the AI cloud war is getting expensive.

Microsoft is spending big on data centers for AI, and scores of companies are urgently vying for key AI chips.

Once Amazon hacks the supply of AI chips and data center capacity, Bedrock will be available more widely.

The AI cloud race is officially on, and Amazon is catching up.

Read more: Channel News Asia

🏗️ BYOAI - Build your own AI

Graft, an AI development startup, just raised $10 million with a mission to make AI more accessible to businesses that don’t have an extensive in-house team of engineers.

While the hype around ChatGPT grows, producing real AI apps remains complex. Graft lets any company deploy AI fast through handy templates for use cases like visual search in 2 simple steps:

• Step 1: Choose your app

• Step 2: Plug in your data

And boom - AI application ready. No coding needed

Founder Adam Oliner believes this no-code approach strips away AI barriers facing most firms today.

Overall: Graft has raised a total of $14.5 million to date, showing that their vision for giving SMBs AI capabilities is attracting all the right interest.

Curious to see what Graft does next.

Read more: TechCrunch

🤑 AI Fundraising News

Protect AI raises $35M in a Series A round to build a suite of AI-defending tools.

Deep tech AI and quantum mechanic company Materials Nexus raises £2 million in a seed round to discover clean climate material.

🗞️ AI Quick-Bytes

What else is going on?

1. Netflix is offering up to $900,000 for an AI-focused role as actors continue to strike over the 'existential threat' posed by the technology.

2. Egnyte is bringing generative AI capabilities to its storage platform

3. CrowdStrike is close to acquiring Bionic.AI for between $200M and $300M

4. Alphabet jumps to highest in 15 months on strength in search

5. The largest third-party D&D marketplace restricts AI-Generated products

6. Japan's Advantest sees AI demand aiding chip testing to recover

🐦️ Tweet of the day

🖼️ PhotoAI is getting better and better every day.

And that does it for today's issue.

As always, thanks for reading. Have a great day, and see you next time! ✌️

— Haroon: (definitely) Not A Robot and @haroonchoudery on Twitter

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