105 | 🧱⛓️ Blockchain (yup, it's time)

In today’s Brainyacts we:

1. consider the combo of genAI + Blockchain

2. learn OpenAI has disabled Bing plugin

3. see how Google just changed their privacy language

4. move on from FAANG to MOANA stocks

5. give you the fastest client insight prompt

6. cover a lot of news in the News You Can Use section

7. get meme on associates

👋 to new subscribers!

To read previous posts, click here.

🧱⛓️Generative AI Meets Blockchain: A Clear Use Case

In the continuously evolving landscape of technology, it's not often that we see two innovative concepts converge in a way that promises to reshape an entire industry. Generative AI and blockchain are two such technologies, which when brought together, have the potential to revolutionize the global legal services market. This combination holds the promise of not only simplifying the complexities associated with Web3.0 and cryptocurrencies but also potentially mitigating some of the challenges posed by generative AI.

For the skeptics out there, I invite you to consider this as I unpack the implications of this exciting convergence and discover how it could deliver concrete, meaningful benefits to the legal services industry.

Although the interaction between AI and blockchain is in its early stages, there's potential for significant growth and innovation.

1. Generative AI and Its Challenges

   • Generative AI refers to AI systems that create new content after learning from existing data. It's like how lawyers build arguments based on previous cases.

   • Some hurdles include:

     • Heavy data and computational demands.

     • Opacity in the decision-making processes makes auditing difficult.

     • The risk of generating misinformation or disinformation.

     • Centralization and control by a few dominant entities, limit diverse contributions and wider access.

2. Blockchain as a Solution

   • Blockchain can be a potential solution to these challenges.

   • Some of the ways include:

     • Creating decentralized data and computing networks, easing resource demand.

     • Offering a way to check the authenticity of AI-generated content, fighting against disinformation.

     • Making AI decision-making processes transparent and auditable.

     • Democratizing AI development by lowering entry barriers and ensuring wider participation.

3. Implications for Legal Services

   • Generative AI can automate various tasks, such as drafting legal documents, performing legal research, or even giving legal advice, enhancing productivity.

   • Blockchain technology can ensure the accuracy and authenticity of these AI operations, maintaining trust in such automated systems.

   • A blockchain could serve as a decentralized, transparent platform where lawyers from around the world could contribute their expertise to train the AI, enhancing its capabilities and scope.

4. The Future - A Blockchain for Generative AI?

   • As the technology evolves, we could see a specialized blockchain developed solely for generative AI, combining AI's advanced capabilities with blockchain's robust security and transparency.

   • Such a development could create a more equal playing field in AI development, open up new ways of training and auditing AI systems, and establish more reliable standards for AI operations.

   • In the legal sector, this could revolutionize the way legal services are provided and consumed.

Blockchain's transparent, decentralized nature has the potential to resolve many challenges generative AI faces. Particularly for the global legal services market, blockchain could enhance the reliability, accessibility, and efficiency of AI-powered services.

While the merger of AI and blockchain is still a developing field, the possibilities it holds for transforming industries like law are fascinating. Skepticism is natural and necessary, but so is open-mindedness toward the potential benefits this technology union can bring.

🚨 Is anyone out there working in this space? Let me know, please! Shoot me an email by replying directly to this email.

😇 🥷 OpenAI Disables Bing Plugin to Preserve Integrity

Vie OpenAI

“ChatGPT Browse with Bing is a beta feature (available to ChatGPT Plus subscribers) that allows ChatGPT to search the internet to help answer questions that benefit from recent information. We have learned that the ChatGPT Browse beta can occasionally display content in ways we don't want. For example, if a user specifically asks for a URL's full text, it might inadvertently fulfill this request.

As of July 3, 2023, we’ve disabled the Browse with Bing beta feature out of an abundance of caution while we fix this in order to do right by content owners. We are working to bring the beta back as quickly as possible, and appreciate your understanding!”

🕵️𝌡 Google Changes Privacy Language

Sneaky? Good business? Both?

On July 1, Google changed some language related to what data it uses for research and development - e.g., training AI models.

The new language reads:

Previously, it read:

🏃‍♂️ 📥 From FAANG to MOANA

FAANG stocks, which encompass Facebook, Apple, Amazon, Netflix, and Google, have historically served as the bellwethers of the tech industry and the broader stock market due to their substantial influence and performance. They represent a significant portion of the S&P 500 and have been key drivers of market growth. As pioneers in their respective fields—social media, consumer electronics, e-commerce, streaming entertainment, and internet search and advertising—they've ushered in a new era of technological innovation and digital transformation.

However, the landscape is witnessing a significant shift with the emergence of MOANA stocks, which include Meta (formerly Facebook), OpenAI, Alphabet (formerly Google), Nvidia, and Amazon. This new breed of tech giants is leading the frontier in areas such as artificial intelligence, virtual and augmented reality, cloud computing, machine learning, and e-commerce. MOANA stocks indicate an evolving focus towards more advanced, emerging tech sectors, signifying the continual evolution of the tech industry and investment landscape.

NOTE: I swapped out Apple for Amazon. Amazon is making huge bets on AI and seeks to be the leader in training compute based on its AWS motherlode on power, chips, and capacity. Maybe Apple is added but for now, I see them as laggards, not leaders. But Apple has always been a sleeper; until it isn’t.

✋🛑 Fastest Client Insight You Can Imagine

I'm currently facilitating learning for a diverse range of teams - from the client value team at a major global law firm, to an assembly of international lawyers and law students right here in Hamburg, Germany.

One of the most strikingly effective ways to illustrate the power of technology in the field of legal practice is this simple yet enlightening exercise. It won't pen your next legal memo, but it will definitely open your eyes to the wealth of information at your fingertips.

Imagine you're tasked with understanding a company, say a potential client. Sure, you can Google it. You can dive into an ocean of public filings or simply knock on the partner's door. While these methods are valid, what if you could gain insightful knowledge in a mere 30 seconds? Intrigued? Here's how:

Use OpenAI or Bing Chat for this.

▶︎▶︎PROMPT

TASK: Based on the available information, please conduct a comprehensive analysis of the company’s business model.

COMPANY: [enter the one you want]

Include the following components:

1. Key Value Proposition: What unique value does the company offer to its users that distinguishes it from competitors?

2. Main Customer Segments: Who are the company’s primary users? How are they segmented demographically, geographically, and behaviorally?

3. Main Channels: How does the company reach its customers? Discuss both direct and indirect channels, if applicable.

4. Key Resources: What are the crucial resources the company relies on to operate and deliver its services?

5. Key Activities: What are the main activities the company undertakes in creating and delivering its value proposition?

6. Key Partners: Who are the company essential business partners? What's the nature of these partnerships and what value do they bring to the company?

7. Employee Experience: What is known about the company’s workplace culture, employee benefits, and the overall experience of working there? Consider any legal or regulatory issues associated with their employees or contractors.

8. Operations Model: How is the company’s day-to-day operation structured? What are the legal implications and potential risks associated with its operating model?

9. Revenue Model: How does the company generate revenue? Please include an analysis of any legal and regulatory implications tied to their revenue streams.

10. Legal Landscape: Provide an analysis of the current and potential future legal and regulatory challenges the company might face, including in areas such as data privacy, worker's rights, housing laws, and others.

11. Compliance and Ethics: Discuss the company’s compliance systems and ethical considerations in relation to its business model.

Here I share an example for GE Aviation from OpenAI and one from Bing. Notice the difference and why you should always use at least two models.

Here is OpenAI’s response for another company, Rich Products (private).

DISCLAIMER: None of this is legal advice. This newsletter is strictly educational and is not legal advice or a solicitation to buy or sell any assets or to make any legal decisions. Please /be careful and do your own research.8