Science Park’s Newsletter

Communicating Science Since 2006

Google Deepmind and Youtube introduce Cutting Edge AI Music generation Model - Lyria

• Lyria Introduction: Google's DeepMind and YouTube unveil Lyria, an AI music generation model.

• Toolsets: Lyria comes with experimental tools, Dream Track and Music AI, aiming to revolutionize music creation.

• Dream Track's Role: Empowers creators to generate AI soundtracks for YouTube Shorts, mimicking diverse musical styles.

• Authenticity Challenges: Concerns arise about maintaining authenticity and sustainability in longer AI-generated compositions.

• Mitigation Strategies: Initially focusing on shorter pieces, DeepMind collaborates with artists to test and refine AI models.

• Collaborative Efforts: Music AI Incubator involves artists, songwriters, and producers in refining AI tools, pushing creative boundaries.

• Upcoming Features: Music AI tools to expand capabilities, including instrument-based music creation and ensemble composition.

• Industry Trends: Google's venture aligns with Meta's AI music generator and startups like Stability AI and Riffusion, indicating the music industry's shift towards AI-driven innovation.

• Future Outlook: Uncertainties persist, but the DeepMind and YouTube collaboration signals a promising future where AI complements human creativity in music creation.

Case study : How Pepsico utilised its AI model Ada for better Ad Campaigns

PepsiCo introduced Ada, a digital platform inspired by Ada Lovelace, with key roles in new product exploration, consumer insight integration, collaborative enhancement, and ad effectiveness improvement. Ada's pivotal role involves testing ad concepts, streamlining PepsiCo's internal ad development, saving time, and reshaping workflow efficiency. Monica Tenorio highlights Ada's impact on shifting focus from production to strategy, reducing time spent on tasks, akin to PepsiCo's Google equivalent. Ada's iterative use improves ad strategies across PepsiCo's 23 brands, notably aiding Walkers crisps. By analyzing cultural resonance, Ada revitalized Walkers' campaign, linking crisps to lunchtime culture in the UK. Ada also facilitated targeted campaigns like Pepsi's featuring Mo Salah, resonating with Egyptian youth for sustained brand growth. PepsiCo credits Ada for accelerating insights, aiding in decision-making, and creating a more efficient, strategic operating model, blending human insight with AI prowess.

Amazon launches free AI training program “AI Ready”

• Amazon just announced its new AI training program “AI ready” which aims to train 2 million people around the globe by 2025 by providing free courses, scholarships and much more. 

• The program “AI ready” includes 8 free online courses that is aligned with in demand jobs for both business and technical audiences.

• It has collaborated with Udacity by offering scholarships worth $12 million to provide 50,000 students with access to generative AI courses.

• This is due to the fact that employers expect employees with AI skills to gain up to 47% more in salaries which signifies the financial benefits of undertaking such training.

Funding winter for Indian startups to end by Summer

• Investors at TiE Global Summit express confidence in the end of funding winter for Indian startups by March.

• Emphasis on budding entrepreneurs presenting credible plans for returns, as fancy valuations no longer impress global fund managers.

• TGS 2023, held with Singapore Fintech Festival, sees over 2,000 participants discussing funding challenges and solutions.

• Gaurav VK Singhvi of We Founder Circle anticipates improvements for Indian startups post-geopolitical uncertainties.

• Jack R Selby from Thiel Capital notes investors' readiness with substantial "dry powder" for investments.

• Funding winter and strategies to overcome it remain central themes at the conference.

• Indian startup funding experiences a 77% drop from January to July 2023, totaling $4.4 billion.

• TGS 2023 highlights the pivotal role of startups in driving innovation emphasising networking and collaboration.

• Global leaders, entrepreneurs, and industry figures convene to discuss trends, sustainability, technology, and social impact.

• TiE President Amit Gupta announces the next TGS in Bengaluru, focusing on global leadership, entrepreneurship, and policymaking.

• Presence of acclaimed figures like Shekhar Kapur and sports legends at the conference underscores its significance.