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Alphabet, the parent company of Google, announced on Dec. 13 that it plans to slash the cost of a version of its most advanced artificial intelligence (AI) model Gemini and make it more accessible to developers. According to reports, the company said the price for the pro model of Gemini has been cut 25-50% of what it was in June. Gemini was introduced in three variations on Dec. 6, with its most sophisticated version being able to reason and understand information at a higher level than other Google technology, along with computing video and audio. According to Google, the most powerful version is being designed to operate in data centers, while others will be implemented on personal devices and in Google's suite of applications. In addition to cutting prices, the company said it plans to make its tools available to developers to make customer versions of Gemini. On Nov. 6, OpenAI's ChatGPT released a new feature allowing premium subscribers to create custom GPTs. Related: Open-source AI can outperform private models like Chat-GPT -- ARK Invest The launch of Gemini was as exciting as it was controversial. Initially, Google released the product with a direct comparison to OpenAI's GPT-4, even earning the name "GPT killer." However, internet sleuths soon began to poke at Google's claims of superiority and posted comparisons of tasks given to both models, many of which saw the more accurate results produced by OpenAI's model. Users on the internet said Google "lied" about its capabilities and edited the videos to show more impressive results. On Dec. 11, Google executives admitted that some of the promotional material used was manipulated for "brevity." Since the launch of OpenAI's ChatGPT to the wider public in November 2022, many of the world's leading tech companies have been racing to develop and deploy powerful rival AI models. On Nov. 28 Amazon launched its own ChatGPT competitor called "Q" purpose-built for business, while Meta - the parent company of Facebook and Instagram- released its own rival called Llama 2 earlier this year and Elon Musk launched his AI chatbot Grok.

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Bearish/Bullish

18.12.23 07:48

by cointelegraph.com

Revolut Business reportedly cuts crypto services ahead of new rules

The neobank will halt crypto purchases by businesses while it sorts out new ad requirements. Neobank Revolut will temporarily halt cryptocurrency purchases on its business platform in the United Kingdom at the beginning of the new year, according to a media report. An email informing customers of the decision mentioned only purchasing, implying holding crypto and selling it could go on uninterrupted. Revolut said the pause was needed to give it more time to comply with new Financial Conduct Authority (FCA) rules on promoting crypto that come into force on Jan. 8, 2024. Revolut Business will halt crypto purchases on Jan. 3, it said. In a message reproduced in an X (formerly Twitter) post, Revolut Business told customers: "We'll need to adjust our current Business crypto offering to make sure all of the new requirements are met." Revolut is the latest of several firms that have been impacted by the FCA rules, which the regulator itself described as "tough." The rules were announced in June and were intended to bring crypto advertising into line with other high-risk investment products. Among the new requirements were customer warnings of the risky nature of crypto investments, a ban on bonuses for referring new customers and a "cooling-off period" delaying the placing of orders from first-time investors. Related: Binance, OKX to comply with new financial promotions rules in UK The Jan. 8 deadline is an extension from Oct. 8 provided after it became apparent that there would be hitches with compliance. The FCA was already noticing in September that engagement from many crypto firms had been low. By Oct. 25, the FCA had recorded over 200 breaches of the rules and it issued additional guidance on the rules in November. In September, Bybit announced it was leaving the U.K. market and Solana-based NMarinade Finance began blocking U.K. users. Binance halted customer onboarding in the country in October after its compliance partner, Rebuildoingsociety.com, ran afoul of the rules.