Amazon's next-gen Alexa

TODAY

• Amazon plans to launch next-gen Alexa with subscription model

• DeepL raises $300M at $2B valuation for AI translation and writing

• Today’s biggest AI funding, valuations, and acquisitions

• Tool highlight: Pecan AI

• AI Agent: LLM Stack

• Results from the last poll

INDUSTRY NEWS
Amazon plans to launch next-gen Alexa with subscription model

Amazon is working on a major overhaul of its Alexa voice assistant, aiming to launch a more advanced, AI-powered version later this year with a new subscription model. The company is ending its developer rewards program for Alexa skills as it focuses on newer tools using large language models, but is facing challenges in ensuring the new Alexa meets quality standards.

What to know:

• The upgraded Alexa, codenamed "Alexa Plus" or "Remarkable Alexa," will offer more conversational and personalized interactions powered by generative AI

• Amazon plans to charge a monthly subscription fee for the new Alexa, separate from the Amazon Prime subscription

• Internal tests have found the new Alexa sometimes shares inaccurate information, presenting a challenge in meeting quality standards

• Amazon is ending its program that pays developers for creating Alexa skills to focus on newer tools using large language models

• The move comes as Amazon aims to monetize Alexa and keep pace with competitors like Google Assistant, Siri, and AI chatbots from OpenAI and Google

As Amazon overhauls Alexa to be more conversational and capable, the shift to a subscription model marks a significant change in strategy to monetize the voice assistant. However, the company will need to overcome technical challenges to deliver a high-quality AI experience.

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FUNDING AND ACQUISITIONS
Some recent funding rounds, valuations, and acquisitions

✅ Scale AI, a startup that provides high-quality data for AI development, has raised an impressive $1 billion in a Series F funding round, nearly doubling its valuation to $13.8 billion.

✅ Elon Musk's artificial intelligence startup xAI is nearing an $18 billion valuation with fresh funding as the AI race heats up.

✅ French AI startup H (previously Holistic AI) raised a $220 million seed round just a few months after the company's inception

AI TOOL
Pecan AI

Pecan AI is an automated predictive analytics platform that enables business analysts and data teams to rapidly build and deploy machine learning models without requiring data science expertise. Guided by its pioneering Predictive GenAI technology, Pecan simplifies the end-to-end process of data preparation, model training, and integration to generate highly accurate predictions for various customer-related and operational use cases.

How Pecan AI can improve your workflow:

• Streamline predictive modeling with Predictive GenAI, which uses natural language input to customize models tailored to your specific business needs and goals

• Automate complex data preparation and model selection tasks, enabling faster development and deployment of AI solutions

• Seamlessly integrate predictions into your existing business systems and tools for immediate data-driven actions and measurable impact

INDUSTRY NEWS
DeepL raises $300M at $2B valuation for AI translation and writing

DeepL, a German AI language technology startup, has raised $300 million in a funding round led by Index Ventures, valuing the company at $2 billion post-money. DeepL's platform is used by over 100,000 businesses and organizations worldwide for translation and writing assistance, and the company plans to use the funding for further R&D, global expansion, and talent acquisition.

What to know:

• DeepL raised $300M in a round led by Index Ventures, with participation from ICONIQ Growth, Teachers' Venture Growth, and others

• The investment values DeepL at $2B post-money, a significant increase from its $1B valuation in January 2023

• Over 100,000 businesses, governments, and organizations use DeepL's AI language platform, including Zendesk, Nikkei, Coursera, and Deutsche Bahn

• DeepL recently launched DeepL Write Pro, a writing assistant for businesses, and added support for Arabic, Korean, and Norwegian (now 32 languages total)

• The funding will be used for further research and development, global market expansion, and talent acquisition

DeepL's substantial funding round and valuation increase demonstrate the growing demand and potential for AI-powered language technologies. As the company expands its offerings and global reach, it is well-positioned to become a leader in the space.

AI AGENT
LLM Stack
No-code platform to build LLM Agents

LLM Stack is a no-code platform to build LLM Agents, workflows and applications with your data.

LLMStack supports all major model providers, like OpenAI, Cohere, Stability AI, Hugging Face, and more. Easily use these models to build powerful apps.

With LLM Stack, you can build generative AI agents like AI SDRs, Research Analysts, RPA Automations etc., without writing any code. Connect agents to your internal or external tools, search the web or browse the internet with agents.

LLMs/model providers supported

• OpenAI

• Cohere

• Stability AI

• Hugging Face