AI And Big Data Will Be The Most Impactful Emerging Technologies For Pharma Industry In 2023. ¹

GlobalData’s latest report, ‘The State of the Biopharmaceutical Industry – 2023’, reveals that AI and Big Data were trending as the two most disruptive emerging technologies since 2020, with a significant margin from the third choice in all four years.

Elton Kwok, Market Research Manager in Pharma at GlobalData, comments: Drug-developing and other processes are complex and highly structured in the pharmaceutical industry. The processes generate a vast amount of data, especially in the current digital age; however, this data can be useless or meaningless if it is not properly analyzed. AI not only can help process the data more efficiently, saving time and labor costs; it can also produce analysis more accurately since it feeds on high-quality data, which comes from proprietary datasets.

ChatGPT developer closes in on $30bn valuation in talks to raise capital. ²

OpenAI, the artificial intelligence research lab behind chatbot ChatGPT, is in talks to sell existing shares in a tender offer that would value the company at about $29 billion, the Wall Street Journal reported, citing people familiar with the matter.OpenAI’s chatbot is a software application designed to mimic human-like conversation based on user prompts and can respond to a large range of questions while imitating human speaking styles. The firm expects business to surge as it pitched to investors saying the organization expects $200 million in revenue next year and $1 billion by 2024, Reuters reported in December.

Turning text into sound: AI revolutionizing the rhythm of the music industry. ³

Google AI has introduced MusicLM, a cutting-edge machine learning model that generates high-quality music from text descriptions. This innovative technology casts the process of music generation as a hierarchical sequence-to-sequence task, resulting in music that is both consistent and of a high audio quality.

MusicLM outperforms existing systems in both audio quality and accuracy to the given text description. It can even be conditioned on both text and melody, meaning that it can transform whistled or hummed melodies into a specific style described in the text caption.

To support future research, Google AI has released MusicCaps, a dataset of 5.5k music-text pairs, with text descriptions written by human experts. This dataset is sure to be a valuable resource for music researchers and enthusiasts alike.

Empowering Home Assistants with Human-Like Interaction: The Next Step in AI Evolution. ⁴

MIT researchers have developed the NOPA framework, a system that allows AI agents to autonomously determine the best way to assist human users at different times. NOPA enables the creation of more responsive and socially intelligent robots and home assistants by simultaneously inferring what task the human user is trying to tackle and appropriately assisting them without waiting for explicit instructions from the human. The framework uses a neural network to continuously predict a set of possible goals for the human user, which are then evaluated and updated. The AI assistant uses inverse planning to search for common subgoals and specific actions that can help humanity achieve its goals. The researchers evaluated NOPA in a simulated environment and found that agents were able to adjust their behavior to minimize disruption, such as putting back objects they picked if they were not related to the task.

BuzzFeed Boosts Business with OpenAI: Embracing the Future of AI-Assisted Content Creation. ⁵

BuzzFeed’s shares rose by 120% bringing the company’s market value to $300 million after it announced plans to use OpenAI to enhance its content creation, including its quizzes. OpenAI’s publicly available API will be used by BuzzFeed and this move toward AI-assisted content comes as OpenAI’s viral chatbot, ChatGPT, has gained popularity and sparked a debate over AI’s role in the workplace. Analysts at Cowen note that AI can lower the cost of content but the timing and impact of its adoption is unclear. BuzzFeed is also reportedly working with creators to produce content for Facebook’s parent company, Meta Platforms, in a deal valued at almost $10 million.