A Battle of Bots in the Automation Arena!

In the ever-evolving landscape of enterprise automation, RPA vendors are adapting to the rise of AI agents driven by generative AI, while companies are spending enormous amounts to ride the artificial intelligence wave

All this and more in today’s newsletter

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• While generative AI-powered agents are stealing the spotlight, RPA (Robotic Process Automation) remains a stalwart. RPA, with its rigid “if-then” rules, excels at mimicking human actions but falters when handling complex, creative, or dynamic tasks. However, RPA vendors aren’t throwing in the towel just yet. They’re embracing generative AI, hoping it can address their limitations and coexist harmoniously with RPAUiPath, a major player in the RPA market, recently introduced generative AI features to enhance document and message processing, aiming for streamlined digital transformation

• Since the AI awakening in 2022, spending patterns have transformed, with customers reallocating funds to fund AI experiments. The momentum for machine learning and AI has nearly doubled, making it the most transformative tech trend since the Internet’s inception¹. Meanwhile, generative AI tools are making waves across various domains, allowing anyone to harness this powerful technology². Analysts predict a $1 trillion AI spend over the next decade, with companies like Nvidia and Microsoft leading the charge³. Exciting times ahead! 🚀

• AI expert Ethan Mollick is highlighted for his influential role in advising major players like the White House, JPMorgan, and Google. His insights and guidance are shaping the landscape of artificial intelligence across diverse sectors. Mollick’s expertise is pivotal as organizations navigate the ever-evolving AI arms race

• Snowflake, the data warehousing cloud vendor, has unveiled an open-source AI model called Arctic. This model claims to outperform Meta’s recently introduced Llama 3 in enterprise tasks, including SQL coding for database retrieval. What’s impressive? Arctic achieves this feat while using less than half of the training compute budget compared to Llama 3. The secret sauce? A combination of a dense transformer model and a residual 128x3.66B MoE MLP in what Snowflake calls a "Dense - MoE Hybrid Transformer."

Productivity Tools

• Eleven Labs : Convert text to speech online for free with our AI voice generator. Create natural AI voices instantly in any language

• HeyGen AI : Effortlessly produce studio-quality videos with AI-generated avatars and voices.

• Murf.AI : AI enabled, real people's voices

• Play HT : Create ultra realistic Text to Speech (TTS) using PlayHT’s AI Voice Generator. The Voice AI instantly converts text in to natural sounding humanlike voice performances across any language and accent.

• Voicemy.ai : Create your AI voice or song. Share and inspire!

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