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💼 LinkedIn makes $1.7B thanks to AI
💼 LinkedIn makes $1.7B thanks to AI
🚀 Try our Prompt Engineer GPT
Martin Crowley & Liam Lawson
March 08, 2024
JOB BOARD | PRO | PODCAST | TOOLS | ACCREDITATIONS
Friday’s top story: LinkedIn has made $1.7B from premium subscriptions, thanks to its suite of AI features.
Have you tried our Prompt Engineer GPT yet? It’s designed to supercharge your prompts, giving you better outcomes when using models like ChatGPT.
🌤️ This Morning on AI Tool Report
💼 LinkedIn makes $1.7B thanks to AI
🪙 AI2 Incubator raises $200M for AI startups
🪖 Intel to get $3.5B to make military AI chips
⬆️ UK AI industry boosted by £100M budget
⛈️ AI is making climate change worse, not better
Read Time: 5 minutes
EMPLOYMENT
Our Report: Microsoft-owned LinkedIn revealed that it made $1.7B in revenue in 2023 from its premium subscriptions, following its increased adoption of AI-powered features to help job seekers land their dream job.
🔑 Key Points:
In 2023, LinkedIn introduced a suite of AI-powered features to boost premium subscription revenue to help premium members search, find, and apply for jobs.
These features include the ability to scan job postings and (based on a job seeker's resume) automatically determine if the job seeker might be a good fit.
Plus, they can help job seekers tweak their LinkedIn profiles to make them more appealing to recruiters and auto-generate messages to send to recruiters.
As a result, last year, the number of premium subscribers rose by 25%—making $1.7B in revenue—with data showing that 90% of subscribers found the AI features helpful.
🤨 Why you should care: LinkedIn's inclusion of AI comes at a pinnacle time, as uncertain economic times mean there are at least six candidates for every job, and job seekers are desperate to do whatever they can to find employment.
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STARTUPS
AI2 Incubator—a spin-off from the Allen Institute for AI—has obtained $200M worth of computation power (compute) to help startups develop their AI models.
Unnamed cloud providers and data centers donated “the biggest compute allocation available to startups” so startups can access computational power, through AI2.
Any company (of any size) that partners with the AI2 Incubator can get access to up to $1M in AI compute to help them differentiate and scale their AI models.
This comes after AI2 raised $30M last year to support AI startups, which has its seen spinoffs like Kitt.ai (acquired by Baidu) and Xnor.ai (acquired by Apple) raise over $200M, collectively.
Use the Prompt Engineer GPT by AI Tool report to 10x your prompts.
✅ Content creation
copy & paste ⬇️
“Using the PESO Model, create a [type of content] that is [paid], [earned], [shared], or [owned] to reach a wider [audience] and increase [engagement].”
AI CHIP PRODUCTION
Intel—a leading US-based chipmaker—is set to receive $3.5B of funding from the US CHIPS Act to manufacture advanced AI chips, specifically for military and intelligence programs.
The $3.5B will be dispersed over the next three years and will position Intel as the leading producer of AI chips for the defense market, across the whole of the US.
The US CHIPS Act is a $39B funding pool aimed at incentivizing US-based chipmakers to set up manufacturing facilities to establish an AI chip manufacturing ecosystem in the US.
Over 600 AI chip companies have expressed interest in securing a portion of this funding, highlighting the importance of AI chip production in the US.
FUNDING
In the 2024 Spring Budget UK, the exchequer chancellor (Jeremy Hunt) announced that the government will pledge £100M in funding to boost the UK’s AI industry.
The funding will be released (over five years) to The Alan Turing Institute—the UK’s National Institute for Data, Science, and AI—marking a milestone in how it uses AI to tackle issues.
The institute focuses on AI in sustainability, defense, and security, aiming to make the UK the “best place in the world for AI research, collaboration, and business.”
Currently fourth in the international league table of AI (behind the US, China, and Singapore), the chancellor announced it wants the UK to become the next Silicon Valley.
CLIMATE CHANGE
Claims that AI will help us solve the climate crisis are misguided, according to reports made by the Climate Action Against Disinformation Coalition (CAAD).
AI systems—including those designed to help the planet with things like energy efficiency, drought prediction, and pollution leaks—are increasing energy use, damaging the planet.
If the rate of AI advancement continues, the number of data centers needed to power these developments will double, causing an 80% increase in planet-heating emissions.
Plus, there is already evidence showing that training AI models (like ChatGPT and Gemini) can use as much energy as over 120 US households, in one year.
Do you think big tech companies will try and slow down their energy usage? |
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Same prompt - 3 different versions of the video. Realistic, pixel, and Claymation. This was made with @LTXStudio (I've partnered with them to help show it off).
Notice the character consistency, the voiceover, sound effects, and even the text at the end... All done with a… twitter.com/i/web/status/1…
— Matt Wolfe (@mreflow)
Mar 8, 2024
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