Pay by scanning your hand...

Happy tater tot Tuesday! If you’re looking for the latest and greatest updates in the world of AI, you are in the right spot. 🦾

🔨 AI TOOLS OF THE DAY

🤣 MemeDaddy: AI generated memes for any occasion. → check it out

📝 PromethAI: Automates to-do lists. → check it out

💬 Andi: A generative AI-powered search engine that provides direct answers instead of just links.→ check it out

IS AI TAKING OVER VEGAS? 🎲

Q: Why don’t they play poker in the jungle?

A: Too many cheetahs! 🐆

What’s happening? Las Vegas is embracing the AI revolution. At hotels, AI-powered machines are doing most check-ins instead of people. These bots are also making recommendations at restaurants, serving food, and whipping up drinks at bars.

What’s the problem? Las Vegas unions are paying close attention to these developments, worrying about the replacement of human workers. Nevada's biggest union, the Culinary Union, represents 60,000 service and hospitality employees in Las Vegas and Reno. They are aiming to secure a new contract later this year that ensures safeguards against job displacement by AI. John Restrepo, principal at RCG Economics in Las Vegas, said, "Wherever the resort industry can replace their workers and not affect productivity, profits or the customer experience—wherever they can do that with artificial intelligence ... they will.”

Can AI replace humans in service? AI-powered bots, at least at this point, still need help to perform functional tasks. In bartending, this might include cleaning up spilled drinks and also making sure to top off drinks that do not get poured properly, for instance. Even more, it seems humans are a necessary part of the customer experience. Holly Lang, a cocktail waitress at the MGM Grand, said, "We have a lot of guests that are regular guests, and they come for the personal interaction. They don't come for the technology … There's some things you can't replace."

PAY BY SCANNING YOUR HAND ✋

Keep your credit cards at home … you can now pay by scanning your hand! 🤯

What’s new? Amazon One is now allowing for contactless methods of verification, including payments, by utilizing hand scanning.

How does this work? Amazon trained their system by using AI to create a “palm factory”—producing millions of synthetic images of palms—to train the AI model capable of recognizing hands. The user simply scans their hand, and the system uses this information to create a palm signature, or a unique numerical vector representation, and connects it to one’s credit card or Amazon account, similar to how face ID works. Then, they can leave their wallet at home, as long as they have their hand! When they are at the store or event, they scan their hand over an Amazon One scanner that uses infrared light to recognize the unique lines, grooves, and ridges on a person’s palm, and the pulsating network of veins just under the skin to decode the unique “signature.” Palm scanning is quite different from facial recognition in that it protects user privacy and does not utilize personal facial scanning, which can be invasive.

Is it accurate? Amazon One has already been used more than 3 million times with 99.9999% accuracy, and it is proven to be 1,000 times more accurate than typical face ID. Amazon One is currently rolling out in 500 Whole Foods Market stores as well as numerous third-party establishments, such as travel retailers, sports and entertainment venues, convenience stores, and other grocery stores.

A NEW AI TRADING TOOL 💰

More money, more problems! More AI … less problems? 🤔

What’s new? Dubai-based cryptocurrency exchange Bybit is making waves in the industry with the launch of TradeGPT, an innovative language-based trading tool powered by AI.

How does it work? TradeGPT leverages ChatGPT's extensive language model capabilities and Bybit's in-house ToolsGPT to provide real-time market analysis and answer technical questions in multiple languages. TradeGPT's unique feature lies in its ability to offer market strategies and insights based on ongoing user discussions.

What does this mean? Bybit joins a growing list of cryptocurrency exchanges venturing into the realm of AI-driven insights, highlighting the utility of AI in this field. OKX, for instance, has integrated EndoTech's AI tools to analyze market volatility and trading opportunities. Solana Labs has also introduced a ChatGPT-powered plugin for wallet balance checks, token transfers, and NFT trading.

*None of this is to be taken as investment advice or advice to use any AI-powered trading tools. Rather, this is to be taken as purely news about what tools are being made available in the space*

TWITTER (X) TUESDAY 🐦

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