Real AI: AI in your pocket, follow the (AI) money, fast facts and top headlines

Real AI is a 100% human-created weekly roundup of all things AI in real estate and emerging AI innovations in other sectors likely to impact real estate.

Cloudless AI

Chip titan Qualcomm held its annual Snapdragon Summit in Maui (we gotta get on that list), advancing the cloudless generative AI movement. Qualcomm envisions AI in your pocket: totally contained on your smartphone, unchained from the cloud.

On-device AI is in its infancy, but with its potential realized (we can dream, right?), we think it would be one of the most welcomed AI advances to date. Qualcomm is in full AI hype mode, describing it as the next big thing coming to our mobile devices.

You know all those disparate apps on your phone? Imagine being able to talk to your device, and it automatically uses the app it needs to fulfill your request, accomplish your task, or answer your question. Sounds like a huge time saver, huh? Yes, if it worked. But as in all things new, the Beta stage is fraught with bugs.

Allison Johnson details her experience with on-device AI at the Qualcomm summit for The Verge, "I went to paradise to see the future of AI, and I'm more confused than ever."

Despite Herculean planning by Qualcomm, as in most live tech demos, things didn't always go as planned. For example, using the newest Qualcomm tech – Snapdragon 8 Gen 3 chipset – to test generative photo capabilities, Johnson describes a mixed bag of results, writing, "Sometimes it's incredibly impressive, but one time, it adds a disembodied sexy leg alongside a landscape."

My favorite line is noting that "AI could also be a real dumpster fire, too," pointing out its massive potential for misuse. She also acknowledges our collective emerging frustration with chatbots that are increasing obstacles – or downright preventing – our ability to talk to a real person. I wrote about my own unpleasant experience with a FedEx chatbot in "I fought the bot (and the bot won)."

We are in the "it's exciting, exhausting, and seriously frightening" stage of AI today. Things are likely to get worse before they get better as the onslaught of rushing AI to market before it is ready continues.

But the idea that my smartphone could actually be smart? Worth the wait.

Follow the (AI) money

Open AI may continue to burn cash, but Seattle-based GeekWire, our local must-read tech trade, notes some huge players are beginning to profit – immensely – from AI.

Pointing to the most recent quarterly reports from Google, Amazon, and Microsoft, AI is boosting the fortunes of their cloud businesses – and generating a source of new revenue that is likely to grow exponentially.

Can you see their CEOs rubbing their hands together, smiling?

GW reports that Microsoft CEO Satya Nadella is seeing customers start new projects with a 100% AI drive, which means more demand for its Azure cloud services. Andy Jassy, Amazon CEO, sees "a very substantial, gigantic new generative AI opportunity," which he believes will translate into "tens of billions of dollars in revenue for AWS over the next several years."

AI Five Fast Facts

1. In August 2023 alone, OpenAI's ChatGPT registered more than 180 million different visitors.
2. According to a report by McKinsey, low-paid workers are 14 times more likely to be replaced by AI than high-paid workers.
3. Crunchbase reported that more than one in every four dollars invested in US-based startups during 2023 went to AI companies.
4. Nearly one in four (~22%) of companies reported that they adopted AI primarily to address labor shortages.
5. 68% of business leaders think it's unethical for employees to use AI tools without the permission of a manager.

Source: Tech.co

AI Headlines Take 10

1. The Top 5 Artificial Intelligence (AI) Trends For 2024 | Forbes - 11/1/23
Up next: Quantum AI, more AI laws, AI ethical debates, augmented working, and next gen of GenAI.

2. Smart Homes – IoT in Real Estate Leading the Future | Appinventiv - 11/1/23
The role of the Internet of Things and AI in reshaping an industry expected to eclipse $300 billion in value by 2030.

3. AI companies drive demand for office space in tech hubs, new study finds | Yahoo! - 10/26/23
Thanks to the AI explosion, not everyone is abandoning office space.

4. More Than a Passing Fad | Scotsman Guide - 11/1/23
How AI could improve commercial mortgage deals.

5. How hotels are turning to AI | JLL - 11/1/23
Hotel businesses are racing to integrate AI systems in helping to deliver the perfect experience for their guests.

6. White House tackles artificial intelligence with new executive order | CNN - 10/30/23
The good, the bad, and the ugly of trying to put a horse back into the barn.

7. Will Artificial Intelligence Soon Become Conscious? | SciTechDaily - 10/29/23
Science doesn't fully understand consciousness, so don't worry (for now) about "conscious machines."

8. Authenticity, sustainability, and AI – the key topics from this year's NYC Ad Week | Media Makers Meet - 10/30/26
The No. 1 conversation among ad execs was artificial intelligence, raising more questions than answers.

9. 3 Hard Questions No One Is Asking About AI, but Everyone Should | Inc. Magazine - 10/27/23
AI is replacing people, AI has bias issues, and we are in an AI hype cycle.

10. AI-powered 'VC pitch coach' from Yoodli helps startup founders prepare to face investors | GeekWire - 10/30/23
Fine-tune your AI VC deck to adjust to the temperament of your VC audience.

Quote of the week

To view the original article, visit the WAV Group blog.