Reddit wants to monetize your data

Hey folks, 

In today’s update:

• Reddit wants to monetize its your data!

• Personalized AI chatbot for education.

• AI tools to search your documents 10x faster!

Reading time is 4 minutes. Let’s dive in 🤿

Reddit to end free API access

What: Reddit, the last standing major free source of human conversational data, is putting a paywall on its APIs.

Until now, tech companies scraped off data from Reddit for free to train their AI models.

Between the lines: Reddit has a monetization problem. The platform has estimated 1.6 billion users but barely $350 million in Ad-revenue.

But Reddit is sitting on a gold mine of valuable user-generated content, which is essential to train AI models. This could generate a new revenue stream as it’s eyeing for an IPO later this year.

Also, the decision could be inspired by Twitter’s move to charge for data.

Personal AI Tutors are here

What: Chegg announced a new AI tutor, CheggMate, that provides assistance with learning and experience tailored to each user.

CheggMate combines the superior reasoning capabilities of GPT-4 with billions of pieces of content and expert solutions from Chegg.

Result is a chatbot that can -

1. Provide personalized learning support with AI.

2. Recommend content in different formats and levels of complexity.

3. Offers structured and accurate answers.

4. Provide instant quizzes to test knowledge.

Between the lines: Chegg’s business model has been threatened by advances in AI. Since the launch of ChatGPT (Nov’22), Chegg’s stock has fallen by ~40%!

Personalized AI tutor for every kid is the future of education, and CheggMate is a step towards that.

New Tools
Leverage AI to grow

Today’s category will help your ‘interact’ with your documents! You no longer have to read a huge document or even a book to find answer to something. Just upload a pdf and ask your AI. 

• ChatDoc: Chat with any documents, can understand data inside tables, cites sources for fact checking. Plus, all your documents are encrypted and safe. Privacy-focused   Free-tier   Paid (link)

• Humata.ai: Along with chat and summarization, you can also generate reports and papers from your documents Privacy-focused   Free-tier   Paid (link)

• ChatPDF: Easiest tool to use in our list and has a generous free plan Privacy-focused   Free-tier   Paid (link)

• Sharly.ai : Chat, summarize and highlight text in long documents. Free-tier   Paid (link)

• Doclime: Geared towards enterprise users with legal, real-estate and insurance contexts. Only tool to support multiple documents at once. Paid (link)

Misc
From the corners of the Internet

• Microsoft is working on developing custom chips for training massive AI models. (link)

• Youtubers are using ChatGPT to write scripts for their videos! Watch Casey Neistat’s video - AI made this VLOG. (link)

• AI playground to compare multiple AI models side-by-side. (link)

• Should universities return to oral exams in the era of AI? (link)

• Meta to lay off up to 4,000 employees this week (link)