Friday, May 12, 2023

NBCUniversal ad boss named as Twitter CEO / ChatGPT growth is slowing / U.S. to award $500M to tech hub cities

Plus: New details emerge about Apple's mixed-reality headset

Inside Tech

For May 12, 2023

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Elon Musk has announced former NBCUniversal advertising chief Linda Yaccarino as the new CEO of Twitter. Although Musk will step back as CEO, he will still control the platform's future direction as executive chairman and CTO. Yaccarino will face significant challenges in her new role at Twitter, including a recent loss of advertisers, regulatory scrutiny, and growing competition.

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On Friday, Musk announced via Twitter that he was "excited to welcome Linda Yaccarino" as the new CEO of Twitter.
In her new role, Yaccarino will focus on business operations while Musk focuses on product design and new technology.
Yaccarino will also help to "transform this platform into X, the everything app," Musk added.
NBCUniversal confirmed that Yaccarino resigned as global head of advertising and partnerships, where she oversaw a team of 2,000 people responsible for over $100B in ad sales.
NBCU also has partnerships with Twitter, including a recent renewal of their agreement to broadcast video content from the 2024 Olympics.
Yaccarino helped to digitize and integrate ad sales at Comcast and NBC, which could make her a valuable addition to Twitter as it seeks to restore advertisers' faith in the platform.

What happened: ChatGPT's exponential growth appears to be slowing down, according to new data from Similarweb, though ChatGPT continues to draw more traffic than any other AI chatbot and even popular sites like The NY Times and CNN.

What the numbers say: ChatGPT has experienced remarkable growth over the last six months, going from 266 million visits in December 2022 to 1.76 billion visits by April 2023. However, its growth rate slowed down in April to only 12.6%, noticeably less than its 55.8% growth in March and 62.5% in February.

What it means: ChatGPT developer OpenAI has been spreading its GPT-4 technology into other websites and services, including Microsoft Bing's chatbot, which could be siphoning off some of ChatGPT's traffic. As well, the hype of ChatGPT's novelty could be starting to fade as AI chatbots are becoming more common.

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The U.S. Commerce Department has launched a program that will award an initial $500M in grants for cities to become technology hubs. The Regional Technology and Innovation Hub program, or Tech Hubs, is aimed at turning middle American metro areas into hotspots for tech innovation.

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The aim is to expand tech investment beyond the current concentration in areas like Austin, New York, San Francisco, and Seattle, and foster economic and national security.
The program could encourage more well-paying jobs across the U.S. and help the country stay ahead in emerging technologies.
Funded through a $10B authorization from last year’s CHIPS Act, the program will distribute $500M in grants this year to successful applicants, with each designated tech hub eligible for up to $75M.
Hubs should concentrate on key technology areas, such as AI, robotics, biotech, cybersecurity, or energy efficiency.
To qualify, applicants need a partnership with at least one company, a state development agency, worker training programs, a university, and state and local government leaders.
The program plans to designate about 20 cities as tech hubs, with 10 of them eventually receiving funding.

Netflix plans to reduce its spending by $300M this year, according to the Wall Street Journal. Last month, Netflix exceeded first quarter estimates but offered a weaker forecast, suggesting continued challenges in its growth efforts.

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While Netflix has urged its employees to be mindful of expenses, the company has no plans for a hiring freeze or further layoffs, according to the WSJ.
The cost-cutting measure is partly due to a delay in cracking down on password sharing, which is now expected to generate new revenue in the second half of the year
Netflix said it plans to begin restricting password sharing in the U.S. by the end of June. The company is rolling out a paid-sharing plan that allows the primary account holder to pay an extra fee to add up to two other users outside of their household.
Netflix added 1.75 million subscribers during Q1, up nearly 5% YoY but a slowdown compared to before and during the pandemic.

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Apple is expected to charge $3,000 for it upcoming mixed reality headset, which resembles ski goggles and will be an experimental product, The Wall Street Journal reported. Apple has spent seven years developing the device, which will be its first new major product since it released the AirPods in 2016.

More:

According to the WSJ, the headset is debuting in an experimental mode and will require a separate battery pack to run.
While Apple has prepared a demo version of the headset for its annual software conference in June, the device isn't expected to be widely available until at least the fall.
It will combine augmented and virtual reality in a single device, allowing users to fully immerse themselves in virtual worlds or transition to see their physical surroundings thanks to outward-facing cameras.
The device has faced challenges involving production and software integration, leading some employees and suppliers to question if Apple could push back its release.

Zoom out:

Apple still hopes the headset will boost the metaverse market, despite skepticism from investors and potential partners about whether consumers are ready to embrace AR/VR.
The AR and VR market, worth $28.5B in 2021, is projected to reach $200.1B by 2030.

Sam Altman, OpenAI's CEO, will make his debut testimony before Congress next week as lawmakers aim to pursue regulations for the rapidly expanding AI sector. On Tuesday, Altman will address the Senate Judiciary Subcommittee on Privacy, Technology, and the Law, where he will discuss strategies to maintain control over AI as it becomes more prevalent.

The hearing, named "Oversight of AI: Rules for Artificial Intelligence," will also feature IBM's VP and Chief Privacy and Trust Officer, Christina Montgomery, as well as AI author and New York University professor emeritus, Gary Marcus.
Subcommittee Chair, Sen. Richard Blumenthal, D-Conn, remarked that the hearing marks the beginning of the panel's efforts to oversee and clarify AI technologies and advanced algorithms.
The night before the hearing, Altman will attend a dinner to discuss AI with House Democrats and Republicans.
Last week, Altman was one of the tech CEOs to attend a White House meeting on possible regulations and risks of AI. When asked about whether companies agree on regulations, Altman replied, "We're surprisingly aligned on what actions should be taken."

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Google has reached an $8M settlement with Texas Attorney General Ken Paxton to resolve accusations that it used misleading advertisements to promote the Pixel 4 smartphone.
Sony's PlayStation VR2 headset for the PS5 is now available at retailers like Amazon and Best Buy after being exclusive to Sony’s Direct consumer storefront.
Meta Platforms unveiled "AI Sandbox," a testing ground for advertisers to try out the company's new generative AI tools. Meta is inviting select advertisers to experiment with the tools before rolling them out to more brands this summer.
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Beth Duckett

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Beth is a writer and editor at Inside.com covering artificial intelligence and daily technology news. She has written the Inside AI newsletter since 2019. You can reach her at Beth.Duckett@inside.com.

This newsletter was edited by Eduardo Garcia

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