GG Membership Pass offers exclusive benefits for Web3 gaming enthusiasts. Decrypt's SCENE is a hub for art, fashion, and entertainment. On Tuesday, eight more US-based AI developers, including NVIDIA and Scale AI, committed to developing generative AI tools responsibly as part of a Biden administration initiative.

August 23rd, generative AI tool Ideogram AI completed a $16.5 million seed round of financing, led by a16z and Index Ventures, with participation from AIX Ventures, Golden Ventures, Two Small Fish Ventures, and others. Ideogram AI's mission is to help people become more creative through generative artificial intelligence. It is developing the most advanced AI tools to make creative expression easier, more fun, and more efficient. 

According to a study by the International Labour Organization, generative AI is more likely to complement existing jobs rather than replace them entirely, but certain roles such as clerical work may see more automation. The study found that typists, travel consultants, bank tellers, contact center clerks, bookkeeping and data entry clerks, hotel receptionists, and secretaries are the administration roles most at risk. Women may be more at risk due to their higher representation in administrative roles. The impact of AI on the workforce will depend on how generative pre-trained models are managed and regulated.

According to a new report by Goldman Sachs, global investment in artificial intelligence could reach $200 billion in less than two years, potentially boosting the overall economy. The report highlights the economic potential of generative AI, a subsector of AI that creates new content based on large language models. By 2025, AI investment could account for up to 4% of US GDP and 2.5% of GDP in other nations investing in the technology. However, significant upfront investment in physical, digital, and human capital will be required for large-scale transformation to occur.

CoreWeave, a cloud startup specializing in GPU-accelerated workloads, is set to make billions off the generative AI boom with its GPU cloud. The company has received over $400 million in funding, built a $1.6 billion data center in Texas, and partnered with Nvidia to create the world's fastest AI supercomputer. CoreWeave originally started as an Ethereum mining company but pivoted to offering GPU acceleration at scale. The company saw a surge in interest when access to GPUs became scarce last year, leading to significant investments from venture capitalists and companies like Microsoft. CoreWeave expects to generate $500 million in revenue this year and already has nearly $2 billion contracted for next year. The company has also benefited from Nvidia diverting its latest AI server chips away from top cloud providers like AWS and towards CoreWeave. Despite competition developing their own AI chips, CoreWeave believes GPUs will remain crucial for cutting-edge AI models for at least another two years.

Enjinstarter, a leading IDO launchpad, has announced that its selection of AI-powered Web3 projects has delivered an average ROI of 142.4% YTD in 2023, making it one of the top 3 IDO providers worldwide. Enjinstarter's success in Q2 builds on a successful Q1, during which it was ranked as the top-performing IDO launchpad with an average ROI of 538.49%.

OpenAI has been privately testing a new version of its generative AI imaging model, which has been leaked by YouTuber MattVidPro. The early samples show that it outperforms previous image generators, with sharp images and realistic hands. However, access to the unpublished model is extremely limited, with only around 400 people worldwide having access to it. While the technology is exciting, concerns around misuse persist, and OpenAI is likely to "nanny" the model down before releasing it to the public.

SAP, the German consulting giant, has invested in three leading generative AI companies: Anthropic, Cohere, and Aleph Alpha. These investments align with SAP's commitment to supporting AI-powered enterprise tech startups and building an enterprise AI ecosystem that complements its existing business applications suite.

OpenAI and The Associated Press (AP) have announced a partnership to explore the potential of generative AI in news products and services. Under the agreement, OpenAI will license a portion of AP's text archive, while AP will gain access to OpenAI's advanced technology and product expertise.

Anthropic, a startup founded by former OpenAI executives, has unveiled its latest AI model, Claude 2, which has a 100,000 token context window, a significant improvement over its predecessor and many competing models.