On today’s ExchangeWire digest: OpenAI chatbot to be trained on new information; Digital advertising soars in India; TikTok’s USD$1bn (£822m) creator fund to disappear.
OpenAI chatbot to be trained on new information
The OpenAI chatbot will be trained on information up to April 2023, announced OpenAI’s CEO Sam Altman at the company’s first developer conference. When ChatGPT was launched a year ago, the chatbot only had the ability to answer questions based on archives of information up to 2021. Following its new training, the chatbot will also be able to digest more context (up to 300 pages of a standard book, for example), accept images as prompts, and even write code in a specific language. However, the update will only be available to users of GPT-4 Turbo, the company’s latest and most advanced large language model. Its final model will be available in the upcoming weeks.
Digital advertising soars in India
Digital advertising is seeing rapid growth in India, the country with the world’s fastest growing online economy. Forecasts by Omdia predict that online advertising is set to become one of the quickest expanding elements of the country’s digital landscape, with experts anticipating growth in advertising revenue to grow at a compound annual rate of almost 13% until 2027. With TikTok remaining banned in India, alternatives with embedded advertising such as Josh have gained popularity. Beyond video, advertisers are reaping success from ecommerce.
TikTok’s $1 billion creator fund to disappear next month
On December 16th, TikTok’s USD$1bn (£822m) creator fund will come to an end, the platform announced this week. Creators in the UK, France, Germany and US will no longer have the option to monetise their content through the original fund, although creators in Italy and Spain won’t be affected by the change. TikTok introduced the original fund in 2020, with a three-year plan to pay out the sum of money to creators responsible for creating viral content. Back in February, the platform introduced a new monetisation strategy requiring creators to make videos longer than one minute, with earnings based on engagement metrics.
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Fact of the day
43% – of consumers plan to use AI to answer financial questions
Source: Forbes Advisor