Amazon CEO Touts AI Revolution

Amazon CEO Touts AI Revolution

Meta Reality Labs Celebrates 10-Year Milestone, Has Lost $50+ Billion

Basemark raises $23.9M for AI-based computer vision and AR experiences in car

Dyson improves vacuuming with CleanTrace augmented reality visualization

Details:

• Amazon CEO Andy Jassy highlights the potential of generative AI as the next major technology transformation.

• Amazon is investing in three layers of generative AI development: computing power, data application, and AI applications.

• The company is building its own generative AI applications, including tools like Amazon Q coding assistant and Rufus AI-powered shopping assistant.

• While Amazon is developing its own AI applications, it expects the majority to be built by other companies using its tools and services.

Why it matters: Andy Jassy's emphasis on generative AI in Amazon's shareholder letter underscores the company's strategic pivot towards leveraging AI technologies for future growth. By positioning generative AI as the next significant technology transformation, Amazon aims to expand its ecosystem beyond its established pillars of e-commerce, Prime, and AWS. Investing in three layers of generative AI development signifies Amazon's commitment to providing comprehensive solutions for developers and companies seeking to harness AI capabilities. Furthermore, the company's focus on building its own AI applications while enabling external developers underscores its ambition to become a leading player in the AI space. As Amazon continues to expand its AI capabilities through investments and innovations, it aims to shape the future of AI development and application while maintaining its position as a key player in the tech industry.

Details:

• Meta's Reality Labs division, responsible for metaverse, mixed reality, augmented reality, virtual reality, and artificial intelligence initiatives, has incurred nearly $50 billion in losses over the past five years.

• Despite substantial losses, Meta CEO Mark Zuckerberg remains optimistic about the potential of virtual reality and augmented reality technologies.

• The metaverse concept has gained significant traction, with platforms like Roblox attracting millions of daily and monthly active users and becoming spaces for advertisers and payments providers.

• Virtual reality and mixed reality experiences are increasingly mainstream, with products like Apple's Vision Pro headset offering paid apps for virtual shopping experiences and home redesign consultations.

Why it matters: Meta's massive investments and operating losses in its Reality Labs division highlight the company's long-term commitment to developing immersive technologies like virtual reality and augmented reality. Despite the financial setbacks, Mark Zuckerberg's continued optimism reflects Meta's belief in the transformative potential of these technologies to reshape social experiences and other industries. The growing success of platforms like Roblox in attracting users and advertisers underscores the increasing interest and adoption of virtual worlds. Additionally, the mainstream appeal of virtual reality is evident in products like Apple's Vision Pro headset, which offers a range of paid apps for immersive shopping experiences and home redesign consultations. As virtual reality and the metaverse continue to evolve, they present significant opportunities for innovation in commerce, entertainment, and beyond, driving the exploration of new payment methods and customer experiences.

Details:

• Basemark, a designer of automotive augmented reality software, has raised $23.9 million to enhance driving safety with augmented reality.

• The funding round was a combination of equity, grants, and loans, with ETF Partners leading and support from Finnish Industry Investment (Tesi), Constructor Capital, and others.

• Basemark plans to use the capital to deepen its business with OEMs in Europe and the United States and expand internationally to Japan, China, and South Korea.

• The company's Rocksolid AR software aims to enable OEMs to develop AR applications for Heads-up Displays (HUDs) and other in-vehicle screens, enhancing driving safety and providing a more enjoyable driving experience.

Why it matters: Basemark's successful funding round underscores the growing importance of augmented reality in the automotive industry for improving driving safety and enhancing user experiences. The company's advanced AI-based computer vision system, Rocksolid AR, empowers OEMs to develop custom AR applications efficiently, addressing the unique challenges of AR development in vehicles. By enabling real-time contextual guidance and alerts projected onto the windshield, AR HUDs help drivers keep their focus on the road, potentially reducing accidents. Basemark's focus on democratizing AR development for OEMs reflects the increasing demand for innovative automotive technologies and highlights the role of augmented reality in shaping the future of driving, particularly in the context of autonomous vehicles.

Details:

•  Dyson introduces CleanTrace, an augmented reality visualization tool for manual vacuum cleaners.

• CleanTrace enables users to visualize missed areas while vacuuming using a smartphone attached to the vacuum handle.

• The tool runs on smartphones with LiDAR technology, such as iPhone 12 to 15 Pro and Pro Max models.

• CleanTrace enhances the vacuuming experience by ensuring thorough coverage and efficiency in cleaning tasks.

Why it matters: Dyson's CleanTrace represents a significant advancement in household cleaning technology, leveraging augmented reality to address a common challenge in vacuuming - ensuring comprehensive coverage of cleaning areas. By providing users with real-time visual feedback on missed spots, CleanTrace enhances the effectiveness and efficiency of manual vacuuming, ultimately leading to cleaner homes. The integration of LiDAR technology enables precise spatial mapping, allowing users to accurately visualize the cleaning progress and identify areas that require further attention. With the launch of CleanTrace expected in June 2024, Dyson is poised to revolutionize the way people approach household cleaning tasks, offering a seamless blend of technology and functionality to streamline the vacuuming experience.