This Week in AI

1. Meta's Llama 3

2. Creating with AI

3. Generative AI's Second Act

4. AI Driven Drug Development

Meta’s Llama 3:

• This week, Meta released its newest open-source Llama Model, a competitor to closed AI systems like OpenAI’s ChatGPT.

• Community and Open Source Focus: Meta continues its commitment to the open-source community by making Llama 3 widely accessible and encouraging community feedback and innovation.

  

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Creating with AI

• Dave Clark’s latest AI project : "Canceled Sitcom From the 1950’s," utilizes:

  • Udio - for music,

  • MidJourney - for image creation

  • Runway ML - for motion.

Generative AI's Second Act

• A report by Sequoia Capital sought to analyze the potential of Generative AI in solving real-world problems.

• Generative AI transitioned from technology-driven ("Act 1") to customer first approach ("Act 2") addressing real human problems.

• “The nature of the generative AI market is evolving. Hype and flash are giving way to real value and whole product experiences.” - Sequoia

AI Driven Drug Development

• The Increasing Role of AI Drug Development: The FDA noted a significant uptick in drug and biologic application submissions that incorporate AI/ML, with over 100 in 2021 alone.

• Xaira, an AI-driven drug discovery startup, announced its launch this week and raised 1 Billion Dollars

• “We have reached the point where AI finally allows us to see biology in new ways, and translate those discoveries to better treatments for disease,”- Robert Nelsen - ARCH Venture Partners