A Whopping Half a Billion Dollars Injected into AI Startups Last Week!

Hello 👋

This is The Copilot - we are the AI newsletter that founders, funders, and everyone in between reads.

It is Thursday, June 22, and we have seven fascinating topics to cover.

• 💸 AI Money Flow - Venture Funding Insights

• 🤯 The Impact Number

• ✅ Question of The Week

• 🧐 Weekly Highlights

• 💰 AI Business Opportunity - Fact Checking ChatGPT

• 🔥 The AI Startup Jobs Hotlist

• 🌶️ Spicy AI Tweets

💸 AI Money Trail - Venture Funding Insights
June 15 - June 21

• Weekly investment in AI companies crossed half a billion dollars for the second week in a row 🤯

• 19 out of 48 organizations received angel, pre-seed, or seed funding, and 2 received grants.

• KaBold Metals led the week with a monster $195M Series B funding round

  • KaBold enables the discovery of materials essential for the electric vehicle (EV) and renewable energy sectors through AI-powered mineral exploration.

  • Bill Gates, Jeff Bezos, and Jack Ma are angel investors. 🍻

• Eleven Labs, the company behind a popular voice cloning platform, raised $19M.

  • With Eleven Labs, anyone can easily clone a voice with just 30 seconds of audio content. And the results are scary good. Try it here.

  • Since launching last year, the company has amassed over 1 million registered users and has generated over 10 years of audio content. Now, that is product-market fit 🎉

  • Below is a demo of Leonardo DiCaprio’s UN speech, dubbed as Joe Rogan, Steve Jobs, Robert Downey Jr., Bill Gates, and Kim Kardashian.

🤯 The Impact Number

$1 Billion

TikTok’s parent company, Bytedance, a prominent Chinese tech company, has placed a $1 billion order with Nvidia for its GPUs. (Read more)

✅ Question of The Week

Please vote to see the result in next week’s issue.

🧐 The Highlights

• Celebrities are starting to cash in by sending AI clones for ads and fan chats! (Read more)

• Google doesn't trust Bard (its own creation) for coding. (Read more)

• OpenAI plans to launch an AI marketplace, challenging Salesforce and Microsoft. (Read more)

• AI is the new secret sauce in restaurants: boosting sales, slashing wait times, and tackling the labor crunch. (Read more)

• GitHub’s Copilot is revolutionizing coding by enabling over 10,000 organizations, including Coca-Cola and Airbnb, to auto-generate code with a press of a button. (Read more)

• OpenAI’s CEO Sam Altman publicly advocated for global AI regulation, while behind the scenes, the company lobbied to soften aspects of the E.U.’s AI Act. (Read more)

• Wimbledon collaborates with IBM to bring AI-powered commentary and analysis to its online highlights (Read more)

💰 AI Business Opportunity - Fact Checking ChatGPT

Problem

• Large Language Models (LLMs), like ChatGPT, sometimes create content with inaccurate or fabricated information, known as 'hallucination.'

• This poses serious problems, especially in professional settings such as legal or research domains, where accuracy is crucial.

Solution

• Create a fact-checking service dedicated to vetting and authenticating the content generated by language models.

• This service would employ domain experts to validate the facts in content, ensuring accuracy and reliability.

• Early Market Validation: Freelancers on Fiverr are starting to offer such services

  

Product or Service

• Initially, this would be a services business where customers can submit their content for fact-checking.

• Over time, this would evolve into a marketplace platform akin to Amazon’s Mechanical Turk, connecting content creators with domain-specific fact-checkers.

• A technology marketplace platform can facilitate this connection and streamline the fact-checking process.

Business Model

• The platform would operate on a commission-based model. 

• Content creators pay fact-checkers for their services; the platform retains a percentage of this fee (e.g., 20-25%).

• Pricing for fact-checking could vary based on the domain (e.g., finance or legal) and the amount of content, possibly on a per-word basis.
  

Marketing Strategy

• Partnering with content generation or blogging agencies is one avenue.

• Proactive outreach through cold emails or LinkedIn DMs to organizations involved in research or requiring high factual accuracy can be effective.

• Establishing credibility and building a reputation for accuracy would be crucial.

Things to Consider

• The need for this service may change as language models evolve and improve. However, fact-checking is likely to remain essential for critical domains.

• Building and maintaining credibility will be crucial, and the platform must adhere to high-quality control standards and expertise in fact-checking.

🔥 The Remote AI Startup Jobs Hotlist

• Product

  • Stripe - Staff Product Manager, ML Accelerator and ML Foundations (Apply)

  • Inworld AI - Product Lead - AI/ML (Apply)

  • Cresta - Sr. Product Designer (Apply)

  • Litera - Senior Product (UX) Designer (Apply)

• Tech & Engineering

  • Cyberjin - Deep Learning Engineer (Apply)

  • Cyberjin - Machine Learning Infra Engineer (Apply)

  • Harnham - Staff Machine Learning Engineer (Apply)

  • Sticker Mule - AI Engineer (Apply)

• Customer Success

  • Mosaic - Technical Success Specialist - SaaS Startup (Apply)

• Others

  • Aquent Talent - UX Researcher - AI (Apply)

  • Invisible Technologies - Advanced AI Data Trainer (Apply)

  • Appen - AI Model Trainer (Apply)

🌶️ Spicy AI Tweets

That’s it for this week. See you again next week.

-Salil