Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Amazon’s Anthropic Investment Shaping Future Job Landscape
AI | Sep 27, 2023
Image: Unsplash/Steve Johnson
Amazon agrees to invest up to $4 billion in Anthropic to compete against other tech giants like Microsoft, Meta, Google, and Nvidia who are heavily invested in the space.
The initial investment will see Amazon infuse $1.25 billion for a minority stake in Anthropic. Furthermore, Amazon retains the option to increase its investment to a total of $4 billion.
Anthropic, backed by notable investors including Google, Spark Capital, Salesforce, Sound Ventures, Menlo Ventures, and Zoom, has amassed a total funding of $2.7 billion so far, and has ambitious plans. In May of this year, the startup achieved a valuation of approximately $5 billion following a $450 million funding round. The valuation set by Amazon in their recent investment in Anthropic has not been disclosed. For context, OpenAI has already secured more than $11 billion in funding, with a significant portion coming from Microsoft.
See: OSFI’s Evolving Focus on Integrity & Security
Anthropic aims to raise as much as $5 billion over the next two years and has recently launched its consumer-facing premium subscription plan of chatbot Claude 2 and has plans to develop a "frontier model" named "Claude-Next." This model is projected to be ten times more powerful than today's leading AI models.
Amazon's investment in Anthropic is not just about capital infusion. The e-commerce giant sees potential in leveraging Anthropic's AI capabilities to enhance its cloud offerings. As part of the investment agreement, Anthropic will use Amazon's cloud giant AWS for mission-critical workloads, including safety research and future foundation model development. This collaboration will also see Anthropic utilizing AWS's Trainium and Inferentia chips for building, training, and deploying its future AI models.
The Broader Implications for the Job Market
The integration of advanced AI models like those developed by Anthropic has the potential to redefine the job landscape. A white paper titled "Jobs of Tomorrow: Large Language Models and Jobs" published by the World Economic Forum in collaboration with Accenture highlights the transformative potential of Large Language Models (LLMs) - the paper provides a structured analysis of the potential impacts of LLMs on jobs. These models, such as GitHub's Copilot and ChatGPT, are expected to bring about significant shifts in global economies and labor markets. The integration of LLMs in workplaces could be a balancing act, offering opportunities while managing potential disruptions.
Select WEF Report Insights:
- Rapid Adoption By 2025, AI is expected to handle about 52% of current work tasks, up from the current 29%.
- Net Positive Jobs? While 75 million jobs may be displaced by the AI revolution, 133 million new roles could emerge, leading to a net gain of 58 million jobs.
- New Skills Required An estimated 54% of employees will require significant reskilling and upskilling.
- Jobs of Tomorrow The jobs of tomorrow are characterized by a blend of technological proficiency, critical thinking, and emotional intelligence. Data scientists, AI specialists, and digital marketers are emerging as pivotal roles, steering the wheel of innovation.
See: FCA’s Emerging Regulatory Strategy for Big Tech and Artificial Intelligence
Education is the cornerstone of preparing the workforce for this AI-driven era. It’s imperative for educational institutions to evolve their curricula to incorporate AI literacy, coding, and data analytics. The emphasis should be on fostering a growth mindset, encouraging lifelong learning, and nurturing the ability to adapt to technological advancements.
A Brave New World
As AI continues to evolve, businesses, policymakers, and individuals must proactively adapt to this changing landscape, ensuring that the AI revolution benefits all of humanity.
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