This week, we're seeing more companies thoughtfully integrate AI to unlock new capabilities and experiences.

📢 AI Radar: Microsoft launches private Azure ChatGPT, OpenAI enables GPT-3.5 fine-tuning, Meta reveals multilingual translation model SeamlessM4T, MidJourney adds image inpainting, and OpenAI acquires design studio Global Illumination

🔍 AI in Action: How AngelList is Leveling Up Investor Experiences with AI

Here’s what we have today:

📢 AI Radar

1. Microsoft has released Azure ChatGPT which allows enterprises to run ChatGPT on their private networks. Benefits include data privacy, network control, and integration with internal data and services. The GitHub link is no longer available but it can be accessed via Wayback Machine. This allows businesses to leverage ChatGPT capabilities privately. (link)

2. OpenAI has introduced fine-tuning capabilities for GPT-3.5 Turbo, enabling developers to customize the model for improved performance on specific use cases. Early tests show fine-tuned GPT-3.5 Turbo can match or exceed GPT-4 on narrow tasks. Fine-tuning use cases include better steerability, reliable output formatting, and custom tone. It also allows shortening prompts up to 90% while maintaining performance. (link)

3. Meta has introduced SeamlessM4T, the first all-in-one multimodal translation model supporting nearly 100 languages. It achieves state-of-the-art speech translation quality by overcoming limitations of previous systems. The single model can perform speech-to-speech, speech-to-text, text-to-speech, and text-to-text translation. (link)

4. MidJourney has released a new image inpainting feature called “Vary (Region)” which allows users to modify parts of an image with text prompts. This capability already exists in competing tool Stable Diffusion, which some tests indicate may have superior accuracy and user experience with inpainting. The addition plays catch-up but could be a game changer for MidJourney. (link)

5. OpenAI has acquired AI design studio Global Illumination, their first public acquisition. Global Illumination was building creative tools and experiences with AI. Their team of engineers from companies like Facebook and Google has joined OpenAI to work on products including ChatGPT. This acquisition aligns with OpenAI's push into commercial applications of AI. (link)

🔍 AI in Action - How AngelList is Leveling Up Investor Experiences with AI

As an online platform connecting startups and investors, AngelList is always looking for ways to improve user experiences. With their latest use of AI, they are showcasing how it can transform workflows and unlock new capabilities.

Eliminating Manual Work: AI-Powered Data Extraction

AngelList started by using natural language models like GPT-3 and GPT-4 to extract key investment data from legal documents and emails. By carefully crafting prompts and checking against structured records, they have tuned the AI to accurately parse details like valuation, investor name, amount invested, etc. This removes the need for operations teams to manually review paperwork.

AngelList's Relay parses and tracks investment portfolios

Taking it further, AngelList launched Relay to bring automated portfolio tracking to investors. Users simply forward new investment emails to Relay, which automatically interprets the details and compiles them into personalized dashboards. This enables real-time monitoring of deal terms and company updates without any manual work.

AngelList Relay: AI-Powered Portfolio Analyzer - Watch Video

Having successfully used pre-built models initially, AngelList now exploring training custom AI models on their own data. This will open up new experiences like querying portfolios through natural language or surfacing unique insights tailored to investors' needs.

True to their startup roots, AngelList is testing simple AI applications before going deeper. Their journey with Relay shows how AI can improve operations and radically enhance user experiences.

That's all for today! If you’re looking to accelerate your business growth with AI:

Don't forget to keep an eye on this newsletter for more cool stories about how companies like AngelList use AI.