Your Tech Story

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

Amazon Prime Video Content to Include Ads Starting Early 2024

Amazon Prime Video Content to Include Ads Starting Early 2024

In a strategic move aimed at fueling further investment in captivating content, Amazon.com Inc. announced on Friday that it will introduce limited advertising to its Prime Video service beginning in early 2024. 

Amazon Prime Video Content to Include Ads Starting Early 2024
Image Source: brandequity.economictimes.indiatimes.com

This decision comes as Amazon joins the growing ranks of streaming platforms opting for an ad-based tier to bolster revenue streams. According to the company, the primary objective behind this move is to sustain its commitment to delivering high-quality content to its subscribers. In a blog post, Amazon stated its intention to maintain significantly fewer ads compared to traditional linear TV and other streaming providers, underscoring its dedication to a premium viewing experience.

The rollout of ads on Prime Video will commence in the United States, the United Kingdom, Germany, and Canada in early 2024, with additional markets, including France, Italy, Spain, Mexico, and Australia, set to follow later in the year.

For viewers who prefer an ad-free experience, U.S. consumers will have the option to pay an extra $2.99 per month. International customers can expect this ad-free choice to become available at a later date.

Amazon’s Prime Video has been making waves in the entertainment industry, receiving an impressive 68 PrimeTime Emmy award nominations this year. “The Marvelous Mrs. Maisel,” a beloved streaming comedy, has garnered an impressive 80 nominations over five seasons, solidifying Prime Video’s presence in the highly competitive streaming landscape.

This announcement follows in the footsteps of Netflix Inc., which recently introduced an ad-supported tier to its lineup after years of resisting such a move. Netflix’s Chief Financial Officer, Spencer Neumann, noted that a substantial proportion of accounts are transitioning to the ad-supported option, acknowledging the challenges of building an advertising business within the streaming realm.

Read More: Infosys and NVIDIA Collaborate to Help World’s Enterprises Boost Productivity with Generative AI

Both Amazon and Netflix find themselves navigating the challenges brought about by the ongoing strikes within the entertainment industry. The Writers Guild of America and the Alliance of Motion Picture and Television Producers have engaged in bargaining talks, aiming to reach a resolution that would bring an end to the production standstill. The strikes, with the Writers Guild of America beginning in May and actors represented by SAG-AFTRA joining in July, have disrupted the industry and heightened the importance of alternative revenue streams like advertising.

As the streaming giants adapt to evolving viewer preferences and revenue models, the inclusion of ads on Prime Video represents Amazon’s commitment to maintaining a diverse and competitive streaming ecosystem while continuing to invest in high-caliber content for its global audience.

AI Startup Corti Raises $60 Million to Take on Microsoft in Health Care

AI Startup Corti Raises $60 Million to Take on Microsoft in Health Care

Copenhagen-based startup Corti has secured a substantial $60 million in funding to further advance its mission of revolutionizing the healthcare industry through AI technology.

AI Startup Corti Raises $60 Million to Take on Microsoft in Health Care
Image Source: mpost.io

The investment was led by Prosus Ventures and Atomico, with participation from previous backers Eurazeo, EIFO, and Chr. Augustinus Fabrikker. Although the company has remained tight-lipped about its valuation, its remarkable growth in customers and usage speaks volumes about its impact in the sector.

Just two years ago, Corti raised $27 million in a Series A round when it was assisting in 15 million consultations annually. Now, the company proudly serves 100 million patients each year, with its AI assistant being utilized a staggering 150,000 times daily. This translates to approximately 55 consultations daily across Europe and the United States. Corti boasts that its tools can enhance healthcare workers’ accuracy in outcome predictions by up to 40% while making administrative tasks 90% faster.

Corti’s innovative AI service is often described as an “AI co-pilot” for healthcare professionals, covering various areas of patient care. It assists in triaging during patient interactions, documents entire interactions, offers in-depth analysis to guide decision-making, provides second opinions, and generates real-time and post-meeting notes to identify areas for improvement and clinician training.

Corti’s success reflects the growing adoption of AI in healthcare, particularly after the COVID-19 pandemic highlighted the need for efficient and accurate medical support. The startup has attracted a diverse range of customers, including emergency services in Seattle, Boston, and Sweden, as well as numerous hospitals and medical services.

Unlike some competitors that rely on existing AI models, Corti has taken a unique approach by developing its own AI models and components. Notably, the company has not employed in-house medical experts to avoid introducing bias into its system. Instead, Corti engaged researchers to fine-tune its AI, resulting in a more responsive and functional platform.

Also Read: Solana Co-Founder: To Keep the Next Great American Founder in America, Congress Must Regulate Crypto. But First Lawmakers Should Learn How it Works.

While initial skepticism and concerns about job replacement were common when Corti first launched in 2018, the broader acceptance of AI, epitomized by technologies like ChatGPT, has paved the way for more productive conversations. Corti aims to make AI in healthcare a mundane and indispensable part of the industry, steering clear of the contentious debates about its role.

Despite differing opinions on the impact of AI in medicine, Corti’s funding round signals a commitment to improving healthcare efficiency and provider capabilities. With the support of visionary founders Andreas Cleve and Lars Maaløe, Corti is poised to redefine the patient and healthcare experience, ultimately enabling more personalized, preventative, and proactive medicine in a rapidly evolving industry.

Solana Co-Founder: To Keep the Next Great American Founder in America, Congress Must Regulate Crypto

Solana Co-Founder: To Keep the Next Great American Founder in America, Congress Must Regulate Crypto. But First Lawmakers Should Learn How it Works.

Anatoly Yakovenko, the co-founder of Solana and CEO of Solana Labs, recently shared his perspective on the importance of Congress regulating cryptocurrency to foster innovation and retain talented entrepreneurs in the United States. 

Solana Co-Founder: To Keep the Next Great American Founder in America, Congress Must Regulate Crypto
Image Source: bitnation.co

Born under Soviet rule in modern-day Ukraine, Yakovenko moved to America at the age of 11 and has since been a champion for open and accessible technology. Yakovenko’s journey from a young immigrant to a successful entrepreneur mirrors the American dream, but he worries that regulatory hurdles are driving away the next generation of innovators in the blockchain space. In his view, Congress should take proactive steps to create a regulatory framework that both protects consumers and encourages entrepreneurship.

The blockchain revolution has spawned thousands of entrepreneurs with ambitious projects, many of whom are challenging corporate giants in industries like wireless networks, ridesharing, food delivery, and social media. However, building a blockchain company in a compliant manner is a complex and expensive process, dissuading young founders from pursuing their dreams in the U.S.

Yakovenko highlights the alarming decline in the number of open-source blockchain developers in the U.S., dropping from 42% in 2018 to 29% in 2022, emphasizing the urgent need for regulatory clarity to prevent this talent drain.

While acknowledging the need to combat scams and protect consumers, Yakovenko argues that the entire blockchain industry should not be punished for the actions of a few bad actors. Instead, he calls for a regulatory framework that fosters innovation while maintaining American values.

In July, two Congressional committees advanced legislation aimed at creating regulatory frameworks for digital assets and stablecoins, a bipartisan effort that Yakovenko applauds. While these bills may not be perfect, he urges Congress to move forward with them and continue refining the regulatory landscape.

Beyond legislation, Yakovenko emphasizes the importance of government investment in blockchain research and development, citing historical examples of technologies like GPS and the internet that were initially incubated by the U.S. government. He urges policymakers to experiment with blockchain technology and explore ways to harness its potential for public benefit.

Also Read: Intel CEO Says the Chipmaker’s Technology Is Central to AI Boom

Yakovenko concludes by inviting an open conversation between blockchain entrepreneurs and policymakers, advocating for collaboration to shape a regulatory framework that not only protects consumers but also encourages innovation and keeps talented founders building in America.

As the blockchain industry continues to evolve, Yakovenko’s insights underscore the critical role that Congress and government institutions must play in ensuring that the United States remains a hub for technological innovation and entrepreneurship in the digital age.

Intel CEO Says the Chipmaker’s Technology Is Central to AI Boom

Intel CEO Says the Chipmaker’s Technology Is Central to AI Boom

In a bold and ambitious statement, Intel Corp.’s Chief Executive Officer, Pat Gelsinger, has emphasized the pivotal role that the company’s technology will play in the forthcoming AI revolution. 

Intel CEO Says the Chipmaker’s Technology Is Central to AI Boom
Image Source: tech.hindustantimes.com

Speaking at Intel’s annual Innovation conference, Gelsinger outlined Intel’s advancements in production technology and developer tools for AI, underlining how these innovations are set to shape the AI landscape. Gelsinger believes that the surge in AI capabilities driven by personal computers will create unprecedented opportunities for developers and businesses. He described AI as a “generational shift,” one that will usher in a new era of global expansion where computing becomes even more fundamental to shaping a better future for humanity. Gelsinger stated, “For developers, this creates massive societal and business opportunities to push the boundaries of what’s possible, to create solutions to the world’s biggest challenges.”

Intel, once a dominant player in the semiconductor industry, has been working tirelessly to regain its leadership position. Gelsinger is resolute in his vision of Intel’s resurgence as a driving force in the AI computing sector. He argued that AI’s reach will not be confined solely to the data centers of major cloud providers, such as Nvidia Corp., which has been dominating the AI accelerator market. Instead, AI will extend its influence into new domains, including the PC market, which has seen limited growth in recent years.

As part of Intel’s ambitious agenda, Gelsinger reaffirmed the company’s commitment to rapidly upgrading its manufacturing technology. He revealed that Intel 3, a cutting-edge chipmaking technique, will be introduced by the end of the year. Intel aims to overcome its past manufacturing setbacks and compete effectively with Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co.

Intel has also made strides in its accelerator efforts, with the Gaudi2 product line gaining recognition in certain areas. Gelsinger unveiled plans for Intel Core Ultra processors, equipped with an integrated “neural processing unit” designed to accelerate AI software in PCs. These processors are slated for release in December and are expected to bring AI capabilities to a wider range of personal computing devices.

Also Read: IBM Commits To Train 2 Million in Artificial Intelligence in Three Years, With a Focus on Underrepresented Communities

In a surprising move, Gelsinger announced that Intel would open its factory network to external customers, even if they were potential competitors. This venture into the foundry business is a bold step, requiring Intel to reestablish itself as a pioneer in advanced manufacturing by 2025, a promise that Gelsinger is determined to fulfill.

Pat Gelsinger’s resounding message at the Innovation conference is clear: Intel intends to be at the forefront of the AI revolution, leveraging its technological advancements and manufacturing prowess to shape the future of computing. As the AI boom continues to reshape industries and societies, Intel is poised to play a pivotal role in driving innovation and addressing some of the world’s most pressing challenges.

Google Tweaks Ad Auctions to Hit Revenue Targets, Executive Says

Google Tweaks Ad Auctions to Hit Revenue Targets, Executive Says

Alphabet Inc.’s tech giant, Google, has come under scrutiny as it was revealed in a federal antitrust trial that the company has been making adjustments to its advertising auctions to ensure it meets revenue targets. Jerry Dischler, the Vice President for Google’s advertising products, disclosed on Monday that these tweaks sometimes result in ad price increases of up to 5%, impacting advertisers and businesses relying on Google’s advertising platform.

Google Tweaks Ad Auctions to Hit Revenue Targets, Executive Says
Image Source: business-standard.com

While Google frequently fine-tunes the algorithms governing its ad auctions, it has been customary for the company not to inform advertisers about pricing changes. Dischler’s testimony shed light on internal communications, including a May 2019 email, in which he discussed the need to make changes to meet quarterly revenue targets set by Chief Financial Officer Ruth Porat. The fear of disappointing Wall Street was a strong motivator, as Dischler expressed concern about potential stock price losses and their impact on morale and the sales team.

The Justice Department has accused Google of maintaining an illegal monopoly in online search through agreements with web browsers and smartphone manufacturers. These arrangements ensure Google’s search engine is the default option for users, effectively limiting competition in the search market. A significant portion of Google’s revenue, over 60%, comes from search ads, amounting to more than $100 billion in 2020.

During cross-examination, Dischler emphasized Google’s commitment to delivering “honest results” and a clear separation between paid and organic search results. He maintained that financial incentives did not compromise the quality of search results.

However, Dischler did admit that some auction changes had led to price increases of up to 5% for typical advertisers, and in some cases, as much as 10%. Nevertheless, he expressed concerns that a 15% price hike might drive advertisers to competitors like Meta Platforms Inc. or TikTok.

Google currently boasts around 5 million advertisers, significantly fewer than Meta’s 10 million. Retail advertisements constitute the largest category, comprising approximately 35% of Google’s search ad revenue. Dischler acknowledged that Google faced increasing competition from newcomers like TikTok and Amazon.

Also Read: Microsoft’s Nadella and Oracle’s Ellison Discuss the Future of Cloud and AI

Interestingly, Amazon’s growing success in retail advertising is attributed to its ability to provide advertisers with superior data on ad effectiveness compared to Google. This has prompted some consumer goods makers to contemplate shifting their advertising budgets away from Google and toward Amazon.

One notable change that boosted Google’s revenue involved RGSP (Runner-Up Gets Top Slot), where the second-place bidder was given the top ad slot. This innovative strategy flipped the convention, often placing major advertisers like Amazon in the second position, thereby increasing Google’s revenue.

As the trial continues, the focus remains on Google’s practices in shaping the digital advertising landscape and its potential impact on competition and market dynamics.

Databricks Clinches $43 Billion Valuation, Plans More AI Tools

Databricks Clinches $43 Billion Valuation, Plans More AI Tools

Databricks Inc., a leading software provider in the field of data and analytics, has secured a staggering $500 million in new funding, skyrocketing the company’s valuation to a remarkable $43 billion. 

Databricks Clinches $43 Billion Valuation, Plans More AI Tools
Image Source: tradealgo.com

This significant funding round, led by T. Rowe Price and featuring participation from strategic investors Nvidia Corp. and Capital One Financial Corp., underscores Databricks’ unwavering commitment to advancing AI tools. Databricks’ CEO, Ali Ghodsi, expressed his enthusiasm for the strategic partnership with Nvidia, saying, “We’re very excited about this strategic partnership with Nvidia to build custom large language models.” These models are in high demand by corporations eager to harness their capabilities to work with vast data sets and respond to human-phrased queries effectively. Ghodsi added, “This investment lets us double down on our generative AI strategy.”

The company’s strategic shift towards AI is evident, as it has been actively developing its own large language model, which can be utilized by businesses to create their own AI-powered conversational agents, similar to ChatGPT. Nvidia, under the leadership of CEO Jensen Huang, has been a proponent of expanding the application of AI into new markets. The chipmaker has been investing in developing both hardware and software solutions to facilitate the integration of AI into various industries, potentially expediting the adoption of innovative products and services.

In this latest funding round, each share of Databricks is valued at $73.50, a noteworthy achievement that maintains the company’s valuation since its last funding round two years ago, after adjusting for a stock split.

While Databricks has been increasingly perceived as a strong candidate for an initial public offering (IPO), CEO Ali Ghodsi has clarified that there is no specific timeline in mind. Ghodsi’s focus remains firmly on the company’s growth, both organically and through acquisitions. In June, Databricks announced the closure of its $1.3 billion acquisition of Mosaic ML, further solidifying its presence in the AI landscape.

Also Read: Softbank-backed Arm raises $4.87 billion at $51 per share in biggest IPO of 2023

In a press release, Databricks disclosed that it is on track to achieve an annual revenue of $1.5 billion, marking an impressive 50% increase from the previous year. The company boasts a customer base exceeding 10,000 clients, with over 300 of them projected to invest upwards of $1 million annually.

Databricks’ dedication to advancing AI tools and its substantial valuation reflects the growing significance of AI in the tech industry. With this latest funding injection, Databricks is poised to continue shaping the future of AI-driven data and analytics solutions, cementing its status as a key player in this rapidly evolving field. While an IPO remains a possibility, for now, Databricks is content to concentrate on expanding its horizons and pushing the boundaries of AI innovation.