Is Meta in the AI driver's seat to dominate?

Exploring below the surface of AI headlines.

Summaries | Insights | Points of Views

In Today’s Edition

• Is Meta in the AI driver's seat to dominate?

• Roblox breaks language barriers with AI-based real-time chat translation

• Deepfake scammer walks off with $25 million in first-of-its-kind AI heist

Meta’ AI data

Is Meta in the AI driver's seat to dominate?

Summary - Meta (Facebook) turned twenty this week and Zuck is banking on AI as a pivotal growth engine by leveraging its vast troves of user-generated content across platforms like Facebook and Instagram. Meta holds the keys to an estimated 250 billion web pages collected across its properties for nearly 20 years. With the ongoing New York Times lawsuit against OpenAI for allegedly using copyright data for AI training, perhaps Meta may have a big edge with its AI investment that could reach $37 billion annually.

Buoy points:

• Vast User-Generated Content: Meta's platforms host billions of images, videos, and texts, providing a rich dataset for training AI.

• User Engagement Data: Likes, views, and comments serve as feedback for fine-tuning AI, a valuable resource unavailable to some competitors.

• Ownership of Data: Meta's control over its data protects it from copyright issues that can affect other companies relying on external datasets. Similar approach that Twitter/X uses with it’s AI, Grok.

• User base: Meta has 3.7 billion monthly active users, so their data set of rich text and videos continue to grow daily.

• Competition: Meta is not alone in owning proprietary data. Of course, Google, with it’s search history and YouTube with its vast video collection, is just one easy competitor to name in this space.

• Copyrights unresolved: The fight over copyright ownership of training data is far from over, so Meta has a leg up with its data.

POV - Meta had declining stock performance when it focused on the metaverse. Its recent AI focus has certainly turned around its trajectory, so much so that last week during their earnings call, Zuck announced that Meta stock is paying shareholders a dividend for the first time ever. It sure does seem the market likes Meta’s strategic direction. But, is its proprietary data enough to dominate? What else does Meta have up its sleeve?

Language translation

Roblox breaks language barriers with AI-based real-time chat translation

Summary - Roblox has introduced a groundbreaking AI-powered real-time chat translation feature, enabling users to communicate in 16 different languages seamlessly. This innovation, built on Roblox's proprietary artificial intelligence, allows for instant translation of text chat messages among users from different linguistic backgrounds, fostering global communication and inclusivity. With over 70 million daily users and a vision for fully translated user experiences, including AI-powered voice translation in the future, Roblox is set to revolutionize online interactions in its immersive 3D experiences

Buoy points:

• Gaming Industry Milestone: Roblox introduces the first AI-enabled instant chat translation across 16 languages in gaming, fostering worldwide connectivity.

• Advanced AI Translation: Powered by Roblox’s custom AI, this feature translates text chat in real-time among supported languages, breaking new ground in digital communication.

• Enhanced User Experience: Automated chat translation has positively affected user engagement, increasing platform interaction, session quality, and time spent.

• Localized Global Platform: Roblox's strategy includes providing a localized experience with real-time chat translation, making the platform more accessible and tailored to a global audience.

• Community Communication Boost: Addressing a vital need for its diverse, global user base, Roblox's translation feature significantly improves communication, supporting over 70 million daily users and facilitating billions of chat messages.

POV - I am not much of a gamer but this is another step forward - using AI in real-time. I am fascinated by the many use-cases where AI is applied to everyday life, and this is yet another example. This will apply to global online communication well beyond gaming - in socials, educational, legal, and corporate realms, and beyond. Where do you see this applying in the future?

Deepfake scam

Deepfake scammer walks off with $25 million in first-of-its-kind AI heist

Summary - A Hong Kong-based multinational company fell victim to a sophisticated $25 million scam involving deepfake technology, where scammers created a highly convincing video conference with the company's chief financial officer and other employees. Utilizing AI to simulate the appearances and voices of real company personnel, the scammers instructed an employee to transfer funds to multiple accounts. This incident highlights the growing challenges in distinguishing real from fake content and raises concerns over the security of corporate communications.

Buoy points:

• Innovative Use of Deepfake in Fraud: This incident represents a groundbreaking use of deepfake technology to carry out a large-scale financial scam, involving the simulation of multiple company officials in a video conference to authorize fraudulent money transfers.

• Challenges in Detecting Deepfakes: The scam underscores the difficulties in identifying deepfake content, as scammers successfully mimicked the appearances and voices of real individuals, convincing an employee to execute substantial financial transactions.

• Implications for Corporate Security: The heist serves as a wake-up call for companies worldwide, highlighting the need for improved security measures and employee training to recognize and prevent sophisticated deepfake scams.

• Preventive Measures and Police Recommendations: Following the scam, police have suggested methods to verify identities in video calls and proposed the use of encrypted key pairs for authenticating communications in corporate environments to prevent similar scams.

POV - Once again, the double-edged sword that is AI. With all the advancements and forward progress in human productivity, it is human nature (granted, a small sliver of the human population) to cheat and defraud. Imagine being on what seems to be a live call with your company’s higher-ups and being given the “authorization” to transfer millions of dollars. With remote work so prevalent these days, will we need to two- or even three-factor authenticate instructions from our boss on a live video call?