The Epic Fail Of Google's AI Overview
Plus: GPT-4 is a better financial analysts than humans, Canva redesigned it’s platform with new AI features
Hello Engineering Leaders and AI Enthusiasts!
Welcome to the 284th edition of The AI Edge newsletter. This edition discusses Google’s AI overview blunders.
And a huge shoutout to our amazing readers. We appreciate you😊
In today’s edition:
🚨 Google AI Overview gives dangerous and wrong answers
🚀 GPT-4 is a better financial analysts than humans
🎨 Canva redesigned it’s platform with new AI features
📚 Knowledge Nugget: Generative AI is Best at Something Teachers Need Least by
Let’s go!
Google AI Overview gives dangerous and wrong answers
Google's AI Overviews feature, which generates AI-powered responses to user queries, has been providing incorrect and sometimes bizarre answers. From suggesting glue on pizza, staring at sun for health benefits to claiming that former US President Barack Obama is Muslim, the feature has left users questioning the reliability of AI-generated search results.
While Google maintains that these mistakes result from uncommon queries and are being used to refine the product, the technology's widespread deployment has highlighted the challenges and risks of integrating AI into search engines.
Why does this matter?
Other companies, such as OpenAI, Meta, and Perplexity, have also experienced issues with AI hallucinations and mistakes. Companies must prioritize the development of robust safeguards and rigorous testing to ensure that AI-powered search results meet the high standards users expect from traditional search engines.
GPT-4 is a better financial analysts than humans
In a groundbreaking study, researchers at the University of Chicago have discovered that GPT-4, a large language model, can analyze financial statements and predict future earnings direction with remarkable accuracy. Even without narrative context, GPT-4 outperforms human financial analysts and achieves prediction accuracy on par with state-of-the-art machine learning models.
The AI model's success is not simply a result of its training memory but rather its ability to generate valuable narrative insights about a company's future performance. Notably, trading strategies based on GPT-4's predictions yield higher returns and risk-adjusted performance than those based on other models, especially for small companies.
Why does this matter?
This study shows that AI is more than just a support tool in financial decision-making. It can also be central to financial analysis and enable non-experts to make informed decisions, which may change how financial markets operate.
Canva redesigned it’s platform with new AI features
Canva is launching a redesigned platform with new AI features and tools for professional teams and workspaces. The company has introduced Canva Enterprise, a specialized tier offering more control over collaboration, brand management, and security for larger organizations.
Ad Tech integrations with Google, Meta, and Amazon streamline the ad creation process within Canva. Data autofill automates the creation of data-driven designs by integrating with sources like Salesforce and MLS.
New features include AI style matching for brands, customizable folder displays, and the ability to "star" designs and templates for easier access. Canva Docs now has a suggestion mode for editors and colorful highlight blocks for text emphasis. New "Magic Studio" AI tools include:
Automatic clip highlighting.
Background noise reduction for video editing.
A text-to-graphic image generator.
Why does it matter?
Canva aims to reduce organizational complexity and "app sprawl" by offering a comprehensive creative platform. This update addresses the growing need for extensive, user-friendly solutions that can replace multiple design, AI, and workflow apps.
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Knowledge Nugget: Generative AI is Best at Something Teachers Need Least
, a math education expert, argues that the edtech industry's focus on using generative AI to personalize word problems misses the mark. Research shows mixed results for the effectiveness of this approach, with some studies finding no significant improvement in student achievement or engagement. Meyer suggests that the real issue is the lack of personal engagement in the work itself rather than the specific words used in the problems.He emphasizes the importance of allowing students to offer something of themselves in their responses and highlights the success of teachers who invite this kind of engagement. Meyer believes that the edtech industry is focusing too heavily on generative AI's strengths, such as content generation and adaptation while failing to address the actual needs of teachers and learners.
Why does it matter?
Surveys show limited use of generative AI in special education, and most teachers believe AI tools like ChatGPT bring more harm than benefit to K-12 education. Educators and edtech companies must collaborate to develop AI tools that support the personal connections essential for effective learning.
What Else Is Happening❗
🇪🇺 The EU's data protection task force has released preliminary findings on ChatGPT's GDPR compliance
While the group remains undecided on key legal issues, it suggested that "adequate safeguards" and "precise collection criteria" could help OpenAI meet the requirements. However, the AI giant's move to Ireland may benefit from the country's business-friendly approach to GDPR enforcement. (Link)
📱 French startup AniML has launched Doly, an iPhone app simplifying 3D product video creation
Doly uses AI to estimate the 3D shape of an object from regular 2D photos, and then it applies a technique called Gaussian splatting to create a high-quality 3D model suitable for use in product videos. Users can capture a 3D model, choose a template from the library, and integrate their object into a 3D scene. (Link)
🎧 Iyo, an Alphabet X spinout, will release the Iyo One, a pair of gen AI earbuds
The Iyo One will be released this winter, starting at $599, and aims to succeed, whereas competitors like Humane's Ai Pin and Rabbit's R1 have struggled. It integrates LLM-based models for a more sophisticated AI experience. Iyo's founder, Jason Rugolo, believes the Iyo One will provide value through its sound isolation, comfort, and music quality, in addition to its AI features.(Link)
💳 Mastercard integrates AI to catch compromised cards faster
Mastercard is rolling out an AI update to its fraud-prediction technology to identify compromised credit and debit cards before criminals use them. By analyzing patterns and contextual data, the AI can proactively flag stolen cards, allowing banks to replace them and protect customers from fraudulent transactions. (Link)
🧮 Peter Thiel, former PayPal CEO, believes AI will worse for math minds more than writers
Thiel states that Silicon Valley in the 21st century is too biased towards math people. Thiel explained that the exact reason for ‘AI being not able to overtake human creativity,’ is not clear bets on getting worse.”He concludes that AI is not yet good at math, although its capabilities are increasing, as shown by ChatGPT scoring 96% in a UK A-level math paper with the Wolfram plug-in. (Link)
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