🚗 Tesla’s biggest rival taunts Musk

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🌤️ This Morning on AI Tool Report

1. 🚗 Tesla’s biggest rival taunts Musk

2. 📈 Google launches Gemini-powered search ads

3. 💰 Ex-Nvidia exec receives $4.7M for AI debugging

4. 🚀 Google releases 3 AI enhancements

5. 🎁 Etsy introduces generative AI to its platform

Read Time: 5 minutes

FINANCE

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ELECTRIC VEHICLES

🚗 Tesla’s biggest rival taunts Musk

Our report: BYD (Chinese EV manufacturer and Tesla’s biggest rival) claimed that Tesla will lose market share and face serious challenges in 2024, as they overtake Tesla in sales, and Tesla struggles with their worst performance in two years.

🔑 Key Points:

• In response to a comment Musk made, during a discussion comparing the two EV companies (“We are an artificial intelligence firm, not an automaker), BYD has bitten back, warning Musk that BYD is “very strong” and that Musk will lose market share.

• BYD specifically pitted Tesla’s sport utility vehicle, Model Y, against their equivalent, Denza N7 (which has been designed and manufactured in partnership with Mercedes-Benz), claiming that “Denza N7 will alter the market landscape and beat the Y model.”

• This comes as BYD continues to threaten Tesla’s dominance over the EV market: They have higher gross margins, delivered strong earnings and sales growth in Q3 (while Tesla reported its worst earnings in two years), and in Q4–for the time ever–they sold more EVs than Tesla (45,000 more).

🤨 Why you should care: BYD has overtaken Tesla as the world's biggest-selling electric vehicle manufacturer, and also plans to expand internationally and target the European market with affordable EVs, further challenging Tesla’s spot at the top of the EV market.

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ADVERTISING

📈 Google launches Gemini-powered search ads

• Google has integrated Gemini into its Google Ads platform (features include suggested creatives and keywords aligning with people’s search intent), to make it quicker and easier to create relevant, optimized, and conversational ad campaigns.

• Preliminary testing has revealed that the AI-driven conversational ads powered by Gemini’s integration improve the quality of search advertising campaigns while decreasing the need for manual work.

• They’ve launched a beta version to advertisers in the US and UK and plan to make it available globally over the next few weeks—further strengthening the power of ad customizability for advertisers.

💡 Entrepreneur Strategist by AI Tool Report

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Edition 2 of 3: Monetization Strategies

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SECURITY

💰 Ex-NVIDIA exec receives $4.7M for AI debugging

• RagaAI (founded by former NVIDIA exec, Gaurav Agarwal) has secured $4.7M to develop a model that offers over 300 tests to diagnose, triage, and fix the root cause of typical AI problems, like hallucinations, poor data labeling, and bias.

• The funding round was led by pi Ventures, with funds being utilized to expand the engineering team to build solutions that enhance the safety and reliability of AI systems.

• Based on the common AI issues he encountered during his time at NVIDIA, Agarwal plans to target high-risk/high-security industries such as cancer detection, aircraft maintenance, and AI-powered recruiting tools.

AI ENHANCEMENTS

🚀 Google releases 3 AI enhancements

• Google is releasing new AI features next month, which are designed to help Chrome users organize their tabs, create custom AI-generated themes, and write more efficiently.

• It will use the same text-to-image model that powers the generative AI wallpaper feature on Pixel-8 devices so users can create custom Chrome themes, based on a subject, mood, visual style, and color.

• Lastly, it will launch an AI-powered writing assistant (“Help Me Write”) which will help users write confidently in public spaces like social media, emails, review sites, or forums.

ONLINE SHOPPING

🎁 Etsy introduces generative AI to its platform 

• Etsy has launched a new AI-powered feature today called Gift Mode that leverages a combination of ML, human curation, and GPT-4 to match customers with tailored gift ideas—based on preferences such as who they’re shopping for, the occasion, and the recipient's interests.

• It generates a series of gift guides, based on over 200 personas, including “The Music Lover,” “The Video Gamer,” and “The Adventurer” and suggests gift ideas from the 100M items listed on the site.

• They built Gift Mode to bring a dedicated and scaled shopping experience to their customers, and Gift Mode was built in response to 71% of users feeling anxious when shopping for gifts for their loved ones.

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