June Wrap-Up: AI-powered Instagram success, Apple’s augmented reality headset, and more

June Wrap-Up: AI-powered Instagram success, Apple's augmented reality headset, and more

June presented us with several significant developments in the AI world — as well as a few noteworthy events in the crypto space. The total market capitalization of the crypto industry saw some fluctuation, reflecting the ever-dynamic nature of the market.

Here’s our roundup of the most significant stories.

AI Instagram Success Story

Talented designer and marketer Mr. Grateful used AI to boost his Instagram account from 5,851 to an incredible 163,000 followers in just one month. With AI tools such as ChatGPT, Jasper, Midjourney, and D-ID, Mr. Grateful created captivating content, which helped him connect with a massive audience. 

This out-of-the-box approach to using AI tools serves as a compelling example of how the tech can be leveraged for social media growth and content creation​​.

The Rise of Robotaxis

In San Francisco, commercial robotaxis operated by companies like Cruise and Waymo are becoming a significant part of the city’s transportation system. These driverless cars are not just experimental vehicles anymore but are directly competing with companies like Uber and Lyft, and public transit. 

The companies operating the vehicles are set to expand their services to other cities like Austin, Phoenix, and Los Angeles in the near to mid-term. However, the rapid advancement of this industry has raised concerns about labor and transportation impacts; policymakers are pressured to play a more active role in shaping the future of this new technology.

Apple Unveils Vision Pro AR Headset

Apple recently introduced the Vision Pro: the company’s first augmented reality headset, which will be released in early 2024. The Vision Pro combines hand gestures, eye tracking, and voice commands, and is designed to blur the line between the real and virtual worlds. 

The headset offers opportunities for digital marketing, as businesses can use it to create captivating and interactive experiences and establish genuine connections with their audience.

The Center for AI Safety Posts an Open Letter

The Center for AI Safety — a group of tech industry leaders and scientists that includes Bill Gates and OpenAI CEO Sam Altman — published an open letter about AI-related risks. 

The letter emphasized that mitigating the risk of extinction should be a global priority, citing the rapid development and massive potential economic impact of this nascent technology.

OpenAI’s GPT-4 Achievements Continue to Amaze

On March 14th, OpenAI released GPT-4: its latest large language model. Despite being released less than four months after its predecessor, the new version demonstrated significant improvements. 

OpenAI claims that GPT-4 scored in the top 10% on the Uniform Bar Examination and the top 12% on the Law School Admission Test compared to GPT-3.5’s bottom 10% and bottom 40%, respectively.

AI Commentary and Analysis at Wimbledon

IBM and the All England Lawn Tennis Club announced new AI-powered features for the Wimbledon digital fan experience. The features include generative AI commentary and AI draw analysis to enhance engagement and insight for fans.

SK Telecom’s AI Partnerships

SK Telecom met with CEOs from four new AI partners (CMES, MakinaRocks, Scatter Lab, and FriendliAI) at its Silicon Valley headquarters to discuss business strategies and solidify its position in the global AI ecosystem.

Meta’s Product Suite to Incorporate AI

Meta CEO Mark Zuckerberg unveiled the extent of the company’s AI investments during this month’s internal company meeting. The meeting included discussions about new products, such as AI-based chatbots for Facebook Messenger and WhatsApp that can converse with users.

Bitcoin Hits New High on the Heels of Blackrock’s ETF Application

Bitcoin’s price held steady above $30,000 in June, buoyed by news that Fidelity Investments had filed for a Bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission. The move by Fidelity — one of the world’s largest asset managers — marks a positive trend for the mainstream acceptance of Bitcoin.

Nevada Seeks to Impound Assets of Crypto Wallet Firm

Nevada seeks to impound the assets of a crypto wallet firm that owes clients over $156 million but only has half that amount in the company coffers. This situation has raised concerns about the security and regulation of crypto assets.

SUI Foundation Denies Selling Locked Staking Rewards on Binance

The team behind the SUI token denied allegations that it sold locked staking rewards on Binance: the SUI Foundation clarified that the tokens in question were part of a liquidity pool and were not sold. The incident sparked a debate about crypto project transparency and accountability.

FTX Alleges Former Exec Used Hush Money to Silence Whistleblowers

The now-defunct FTX cryptocurrency exchange has accused a former executive of using hush money to silence whistleblowers. The allegations were made in a lawsuit filed by FTX, which claims that the former executive misappropriated company funds. The case underscores the need for robust governance and oversight in the crypto industry.

BTC Surge to Come From Retail, Not Institutions, Says Fireblocks CEO

Fireblocks CEO Michael Shaulov believes that the next surge in Bitcoin’s price will be driven by retail investors, not institutions. Shaulov argues that institutional investors are more interested in crypto technology and infrastructure, while retail investors are more likely to cause price movements.

Good News for NFT Community 

NFT Plazas has emerged as the leading news site dedicated to fostering the growth of the NFT and Metaverse spaces. The company primarily focuses on providing daily NFT news for ever-growing non-fungible token and metaverse audiences.

Bitcoin Miners Send Record $1.28B in Revenue to Exchanges

Bitcoin miners sent a record $1.28 billion in revenue to exchanges in June, according to data from Glassnode. This comes as the Bitcoin network’s hash rate continues to recover following China’s crackdown on crypto mining. 

The increased revenue suggests that miners are selling their holdings to cover operational costs or generate capital.

UK Expresses Concerns over AI

Artificial Intelligence Task Force Adviser Matt Clifford warned the UK prime minister that AI could pose a threat to humans in just two years. The adviser highlighted the need to control and regulate AI before it becomes too powerful.

The UK government announced that it would host a global summit this autumn to address the most significant risks associated with AI. The decision was made after several meetings between Prime Minister Rishi Sunak, US President Joe Biden, and prominent business leaders from the tech sector.

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