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Open AI is getting into the video business

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OpenAI, known for its AI language model ChatGPT, has ventured into the realm of video generation with the introduction of its latest creation, the Sora AI model.

Following the viral success of ChatGPT, OpenAI aims to revolutionise video content creation using artificial intelligence technology.

Sora, unveiled by the company on Thursday, operates similarly to OpenAI’s image-generation AI tool, DALL-E. Users can input a desired scene or provide still images, and Sora will produce high-definition video clips accordingly.

The model can extend existing videos or fill in missing frames, showcasing its versatility in video content generation.

Significant expansion

The move into video marks a significant expansion for generative AI, following the success of chatbots and image generators in various consumer and business applications.

However, concerns regarding misinformation have escalated, particularly with the rise of AI-generated deepfakes, which have seen a 900% increase year over year, according to data from Clarity, a machine learning firm.

Competing with tech giants like Meta and Google, who recently announced their Lumiere video-generation AI tool, OpenAI is positioning Sora to be a leading contender in the market.

Startups like Stability AI and Amazon have also entered this space with their own video-generation models.

Video length

Currently, Sora is capable of generating videos up to one minute in length.

OpenAI, backed by Microsoft, aims to achieve multimodality by combining text, image, and video generation within its suite of AI models.

Brad Lightcap, OpenAI’s COO, emphasized the importance of multimodality, stating, “The world is multimodal… the world is much bigger than text.” He highlighted the need for AI models to encompass various modalities to better reflect human perception and interaction with the world.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Shows

Is GenerativeAI transforming education?

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Educators today are facing an uphill battle, so what’s the solution?

Today’s educators are passionate, but they’re up against diverse classrooms and outdated teaching methods.

In this episode, Trevor Furness, Chief Revenue Officer of Octopus B-I discuss their efforts to transform education. #funding futures

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News

How AI is leveraging Amazon’s fast production

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Amazon reported better-than-expected results for the last quarter, surpassing analysts’ estimates.

Amazon reported better-than-expected results for the last quarter, surpassing analysts’ estimates, driven by strong performance in its cloud computing and AI.

Ticker’s Ahron Young & Veronica Dudo discuss.

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Tech

Tesla is slashing prices to stay competitive

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Tesla cut the U.S. prices of its Model Y, Model X and Model S vehicles by $2,000 each, days after the first-quarter deliveries of the world’s most valuable automaker missed market expectations.

Elon Musk’s electric-vehicle (EV) maker lowered the prices for its Model Y base variant to $42,990, while the long-range and performance variants are now priced at $47,990 and $51,490, respectively, according to its website.

The basic version of the Model S now costs $72,990 and its plaid variant $87,990. The Model X base variant now costs $77,990 and its plaid variant is priced at $92,900.
Tesla North America also said in a post on X said it would end its referral program benefits in all markets after April 30.

Referral program allows buyers to get extra incentives through referrals from existing customers, a strategy long used by traditional automakers to boost sales.

Musk has postponed a planned trip to India where he was to meet Prime Minister Narendra Modi and announce plans to enter the South Asian market, Reuters reported on Saturday.
On Monday Reuters reported, citing an internal memo, that the EV maker was laying off more than 10% of its global workforce.
Earlier this month Reuters reported the EV maker had canceled a long-promised inexpensive car, expected to cost $25,000, that investors had been counting on to drive mass-market growth.
The EV maker reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years, as price cuts failed to stir demand.

Tesla is to report first-quarter earnings on Tuesday.

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